Legal Updates - Corporate Law Reporter

Commencement notification dated 07.12.2016

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section(ii)] Government of India Ministry of Corporate Affairs Notification New Delhi, the 7th December, 2016 S.O.________(E), - In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints… Read More

Clarification regarding due date of transfer of shares to IEPF Authority

General Circular No. 15/2016 No. 05/23/2016 Government of India Ministry of Corporate Affairs 5th Floor, "A" Wing, Shastri Bhawan. Dr. R.P. Road New Delhi - 110001 Dated: 07.12.2016 To All Stakeholders, Nodal Officer's (IEPF) of Concerned Companies All Regional Director's & Registrar of Companies of Min of Corp. Affairs Subject: Clarification regarding due date of transfer… Read More

Clarification Regarding Filing of Offline Challans with IEPF Authority under Companies Act

General Circular No. 13/2016 No. 05/05/2016-IEPF Government of India Ministry of Corporate Affairs 5th Floor, "A" Wing, Shastri Bhawan, Dr. R.P. Road New Delhi-11001 Dated:05.12.2016 To All Stakeholders, Nodal Officer's (IEPF) of Concerned Companies, All Regional Director's & Registrar of Companies of Min of Corp. Affairs Subject: Clarification Regarding Filing of Offline Challans with IEPF… Read More

2016 Amendment to the FCRA

2016 Amendment to the FCRA This article briefly examines the 2016 amendment to the Foreign Contribution (Regulation) Act, 2010 (“FCRA”), which allows Indian companies owned/controlled by foreign persons to be excluded from the purview of FCRA and how it directly defeats the very purpose of FCRA. Background The FCRA regulates receipt of foreign contribution from… Read More

Taxation Laws (Second Amendment ) Bill, 2016

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 1st December, 2016. PRESS RELEASE Sub: Taxation Laws (Second Amendment ) Bill, 2016- reg In the wake of Taxation Laws (Second Amendment) Bill, 2016 which has been passed by Lok Sabha and is under consideration withRajyaSabha, some rumours have… Read More

Accepting payment under IDS 2016

No.RB/CIR/IDS/1507 November 28, 2016 The Chief Executives of Member Banks Dear Sir/Madam, Accepting payment under IDS 2016 Kindly refer to the appended self-explanatory email from Reserve Bank of India and Central Board of Direct Taxes on accepting payment under IDS 2016. In this connection, we would like to invite your attention to the FAQ (https://www.rbi.org.in/Scripts/FAQView.aspx?Id=119… Read More

Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit

RBI/2016-17/164 DCM (Plg) No. 1459/10.27.00/2016-17 November 29, 2016 The Chairman / Managing Director/ Chief Executive Officer, (All banks maintaining currency chests) Dear Sir, Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit Please refer to our circular. DCM (CC) No. 2598/03.02.05/2009-10 dated October 27, 2009, which inter alia stated that… Read More

Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws (Second Amendment) Bill, 2016

Press Information Bureau Government of India Ministry of Finance 01-December-2016 15:58 IST Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws (Second Amendment) Bill, 2016, is totally unfounded and baseless. In the… Read More

SEBI Infrastructure Investment Trusts (Amendment) Regulations, 2016

GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (INFRASTRUCTURE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD/NRO/GN/2016-17/021.-In exercise of the powers conferred by section 30 read with sections… Read More

Securities and Exchange Board Of India (Real Estate Investment Trusts) (Amendment) Regulations, 2016

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (REAL ESTATE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD/NRO/GN/2016-17/022 .─ In exercise of the powers conferred by section… Read More

Guidelines for functioning of Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC)

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2016/125 November 28, 2016 All Stock Exchanges and Clearing Corporations in International Financial Services Centre Dear Sir/Madam Guidelines for functioning of Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC) 1. Pursuant to announcement in the Union Budget 2015-16 on Gujarat International Finance Tec-City (GIFT), SEBI (International Financial Services Centre) Guidelines, 2015… Read More

SEBI Board Meeting

PR No. 161/2016 SEBI Board Meeting The SEBI Board met in Mumbai today and took the following important decisions: I. Amendment to SEBI (Alternative Investment Funds) Regulations, 2012 regarding Angel Funds In order to further develop the alternative investment industry and the startup ecosystem in India, SEBI, in March 2015, constituted a Committee of experts… Read More

Withdrawal of cash – Weekly limit

RBI/2016-17/158 DCM (Plg) No.1424/10.27.00/2016-16 November 25, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks Dear Sir, Withdrawal of cash – Weekly limit Please refer to our circulars DCM (Plg) Nos. 1272/10.27.00/2016-17… Read More