Corporate Law Reporter - The Daily Journal

Restrictions on Promoters and Whole-Time Directors of Compulsorily Delisted Companies Pending Fulfillment of Exit Offers to the Shareholders

CIRCULAR SEBI/HO/CFD/DCR/CIR/P/2016/81 September 07, 2016 To All Listed Entities All Registered Registrar & Share Transfer Agents All Depositories All Recognised Stock Exchanges Dear Sir/Madam, Sub: Restrictions on Promoters and Whole-Time Directors of Compulsorily Delisted Companies Pending Fulfillment of Exit Offers to the Shareholders 1. In terms of section 21A of the Securities Contracts (Regulation) Act,… Read More

Guidelines for Due Date Rate (DDR) fixation for Regional Commodity Derivatives Exchanges

CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2016/79 September 07, 2016 To, The Managing Directors/Chief Executve Officers, Regional Commodity Derivatives Exchanges Sir/Madam, Sub: Guidelines for Due Date Rate (DDR) fixation for Regional Commodity Derivatives Exchanges 1. As per Section 131 (4) of the Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile Forward… Read More

Mechanism for regular monitoring of and penalty for shortcollection/non-collection of margins from clients

CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2016/80 September 07, 2016 To, The Managing Directors/Chief Executve Officers, National Commodity Derivatives Exchanges Sir/Madam, Sub: Mechanism for regular monitoring of and penalty for shortcollection/non-collection of margins from clients 1. As per Section 131 (4) of the Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile… Read More

Unavailability of MCA Portal on 10th Sep, 2016

The MCA21 system will be unavailable from 8:00am to 6:00pm IST on Saturday, 10th Sep 2016 for system maintenance. Stakeholders are requested to plan accordingly. Read More

How to save taxes legally

At the end of each financial year, an assesse finds himself with huge taxes on taxable income and make tax investments in a hurry. However, if an individual from the very beginning goes ahead with proper planning and knowledge he can feel relaxed at the end. The Income Tax Act, 1961 provides provisions for reducing… Read More

Unfair Terms in Commercial Contracts

Contracts have become a natural occurrence in today’s society. The existence of unfair terms is not a new concept within a contract. They can be of vital importance in commercial disputes, with them often rendering the contract unusuable. Contracts fall into two categories, which are B2B (business to business) and B2C (business to consumer) contracts.… Read More

Enquiry or investigation in respect of document/evidence relating to Income Declaration Scheme (IDS), 2016 found during the course of Search u/s 132 or Survey action u/s 133A of the Income-tax Act,1961

Circular No. 32 of 2016 F.No.299/124/2016/IT-Inv.III Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Investigation Division) Ground Floor, E-2, ARA Centre, Jhandewalan Extn. New Delhi-110 055. Date: 01/09/2016. Sub: Enquiry or investigation in respect of document/evidence relating to Income Declaration Scheme (IDS), 2016 found during the course of Search… Read More

IEPFA (Appointment of Chairperson and Members, holding of meetings and Provision for offices and officers)Amendment Rules, 2016

The Ministry of Corporate Affairs has issued Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 dated 5th September, 2016. Please click on the below link to download the rules: Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding of meetings and Provision for offices and officers)Amendment Rules, 2016 Read More

Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 5th September 2016 G.S.R._____ (E).- In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8), (9), (10) and (11) of section 125 and sub-section (6) of section… Read More

Closure of financial accounts under Rule 114H (8) of the Income-tax Rules, 1962 under alternative procedure of FATCA

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi, 31st August, 2016. PRESS RELEASE Sub: Closure of financial accounts under Rule 114H (8) of the Income-tax Rules, 1962 under alternative procedure of FATCA - reg.- The Inter-Governmental Agreement (IGA) with USA for implementation of FATCA entered into… Read More

Effective date notified for Section 124 and 125 of the Companies Act, 2013

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th September, 2016 S.O. 2866(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 7th September, 2016 as the date on which the provisions of section 124, sub-sections (1) to (4), (6)… Read More

Ease of Doing Business – Paperless PAN & TAN application process

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 22nd July, 2016. Sub :- Ease of Doing Business – Paperless PAN & TAN application process. For fast tracking the allotment of PAN and TAN to company applicants, Digital Signature Certificate(DSC) based application procedure has been introduced on the… Read More

Master Direction- Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions, 2016

RBI/DNBR/2016-17/46 Master Direction DNBR.PD.009/03.10.119/2016-17 September 02, 2016 Master Direction- Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 The Reserve Bank of India, (the Bank), in exercise of the powers conferred under section 45JA of the Reserve Bank of India Act, 1934 (hereinafter referred to “the Act”), and of all the powers enabling it… Read More