Legal Updates - Corporate Law Reporter

Direct Tax Collections up to September, 2016 up by 8.95%

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 9th October, 2016. PRESS RELEASE Sub: Direct Tax Collections up to September, 2016 up by 8.95% The figures for direct tax collections up to September, 2016 show that net collections are at Rs.3.27 lakh crore which is 8.95% more… Read More

Major Achievements of MCA for August, 2016

Ministry of Corporate Affairs Important policy decisions taken and major achievements during the month of August, 2016 (I) Circulars: - In view of the references received from stakeholders seeking clarification on the applicability of provisions of Chapter III of the Companies Act, 2013 (Act) and Rule 18 of Companies (Share Capital and Debenture) Rules, 2014… Read More

Operating Guidelines for Payments Banks

RBI/2016-17/80 DBR.NBD.No.25/16.13.218/2016-17 October 6, 2016 Chief Executive Officers of Payments Banks Madam / Dear Sir, Operating Guidelines for Payments Banks Please refer to the Guidelines for Licensing of Payments Banks (‘Licensing Guidelines’) dated November 27, 2014, under which in-principle approvals/ licences were issued to the applicants for setting up of the payments banks. 2. The… Read More

Import Data Processing and Monitoring System (IDPMS)

RBI/2016-17/78 A.P. (DIR Series) Circular No. 05 October 06, 2016 To All Category - I Authorised Dealer Banks Madam/Sir, Import Data Processing and Monitoring System (IDPMS) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.65 dated April 28, 2016 read with Section 5 of the Foreign Exchange Management… Read More

Change in Bank Rate

RBI/2016-17/74 DBR.No.Ret.BC.19/12.01.001/2016-17 October 04, 2016 The Chairperson / CEOs of all Scheduled and Non-Scheduled Banks, Dear Sir, Change in Bank Rate Please refer to circular DBR.No.Ret.BC.90/12.01.001/2015-16 dated April 05, 2016 on the captioned subject. 2. As announced in the Fourth Bi-Monthly Monetary Policy Statement 2016-17 dated October 04, 2016, the Bank Rate stands adjusted by… Read More

Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB)

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2016/110 October 10, 2016 All recognised/Non-operational /Exited Stock Exchanges. All Exclusively Listed Companies in the Dissemination Board (shares of companies available for buying and selling and not for companies referred as vanishing companies.) Dear Sir/Madam, Sub: Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB). 1. SEBI vide circular dated… Read More

MCA revises the version of e-forms

Forms MGT-15, FC-3, INC-4 , MGT-14, 23C, 23D, A-XBRL, I-XBRL, 23AC XBRL, 23ACA XBRL and AOC-4 XBRL Forms were recently revised on MCA21 Company Forms Download page. Stakeholders are advised to check the latest version before filing. Read More

Marginal Standing Facility

RBI/2016-2017/77 FMOD.MAOG. No.115/01.18.001/2016-17 October 4, 2016 All Scheduled Commercial Banks (excluding RRBs) Madam / Sir, Marginal Standing Facility As announced in the Fourth Bi-monthly Monetary Policy Statement today, it has been decided by the Monetary Policy Committee (MPC) to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50… Read More

Public Comments on Draft Rules/Regulations under Insolvency and Bankruptcy Code, 2016

The Ministry of Corporate affairs releases Public Comments on Draft Rules/Regulations under Insolvency and Bankruptcy Code, 2016, please click on the below link to fill MCA feedback Forms: http://feedapp.mca.gov.in/ Read More

Aadhaar-based Authentication for Card Present Transactions

RBI/2016-17/70 DPSS.CO.PD No.892/02.14.003/2016-17 September 29, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks / White Label ATM Operators / Payments Banks / Small Finance Banks Dear Madam / Sir, Aadhaar-based… Read More

Master Circular- Credit Facilities to Minority Communities – Modification

RBI/2016-17/67 FIDD.GSSD.BC.No.15/09.10.01/2016-17 September 29, 2016 The Chairman/ Managing Director All Scheduled Commercial Banks (excluding RRBs and Foreign banks with less than 20 branches) Dear Sir / Madam, Master Circular- Credit Facilities to Minority Communities – Modification Please refer to our Master Circular FIDD.GSSD.BC.No.01/09.10.01/2016-17 dated July 01, 2016. 2. In partial modification of the Circular, para… Read More

Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016

RBI/DNBS/2016-17/47 Master Direction DNBS.PPD.02/66.15.001/2016-17 September 29, 2016 NOTIFICATION Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016 In exercise of the powers conferred by sections 45 JA, 45K, 45L and 45M of the Reserve Bank of India Act, 1934 (hereinafter referred to as the RBI Act), and of all the powers enabling it in… Read More

MCA releases new Forms MGT-15, FC-3, INC-4 , MGT-14

Forms MGT-15, FC-3, INC-4 , MGT-14 and Refund Form are likely to be revised on MCA21 Company Forms Download page w. e. f 8th OCT 2016. Stakeholders are advised to check the latest version before filing. Read More