Corporate Law Reporter - The Daily Journal

ICAI President’s Message – April 2016

Dear Professional Members, Quality of professionalism imparts that success emanates as a by-product of righteous work. Let us believe in the Shrimad Bhagavad Gita’s sermon: No one who does good work will ever come to a bad end, either here or in the world to come. Let us imbibe this perception. Likewise, all of us… Read More

Amendments in the Compensatory Afforestation Fund Bill, 2015

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today gave its approval to move official amendments in the Compensatory Afforestation Fund Bill, 2015. The legislation will ensure expeditious utilization of accumulated unspent amounts available with the ad hoc Compensatory Afforestation Fund Management and Planning Authority (CAMPA), which presently is of the order… Read More

MCA notifies new versions of forms DIR-3, FC-1, INC-28, SH-7

Forms DIR-3, FC-1, INC-28, SH-7 have been recently updated on MCA21 Company Forms page. Stakeholders are advised to check the latest version before filing. Read More

Public Announcement for the Attention of the public Shareholders Of DFM Foods Limited

PUBLIC ANNOUNCEMENT UNDER REGULATION 15(1) OF THE SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011 FOR THE ATTENTION OF THE PUBLIC SHAREHOLDERS OF DFM FOODS LIMITED OPEN OFFER FOR ACQUISITION OF 26,10,836 EQUITY SHARES (AS DEFINED BELOW) FROM THE EQUITY SHAREHOLDERS OF DFM FOODS LIMITED (“TARGET COMPANY”) BY ARAVALI INVESTMENT HOLDINGS (“ACQUIRER”) ALONG WITH… Read More

Ease of doing construction business in Delhi and Mumbai

Progress on ease of doing construction business in Delhi and Mumbai reviewed DIPP lauds 4-page Common Application Form introduced by MCDs Substantial progress in integration of approvals by different agencies in Delhi The three Municipal Corporations of Delhi have reported substantial progress in respect of ensuring single window clearences for construction projects in the stipulated… Read More

Cost Accounting Standards Board (CASB) releases Exposure Draft of Guidance Note on ‘Treatment of Costs Relating to Corporate Social Responsibility (CSR) Activities ‘

19th April 2016 Cost Accounting Standards Board (CASB), the standard-setting body of the Institute, has approved the release of Exposure Draft of Guidance Note on ‘Treatment of Costs Relating to Corporate Social Responsibility (CSR) Activities’ in its 82nd meeting held on 16th March 2016. The exposure draft is hosted on the Institutes website for… Read More

MCA notifies new versions of e-forms DIR-3 and DIR-6

Ministry of Corporate Affairs has notified new versions of e-forms DIR-3 (Application for allotment of Director Identification Number) DIR-6 (Intimation of change in particulars of Director to be given to the Central Government). Stakeholders are advised to download the latest version before filing. Only new version of the e-form will be acceptable. Form - wise… Read More

Registrar of Trade Mark issues further public notice in relation to abandonment of Application of Trade Marks

GOVERNMENT OF INDIA Ministry of Commerce & Industries Office of the Controller General Patents, Designs and Trademarks Boudhik Sampada Bhawan, S. M. Road, Antop Hill, Mumbai 400037 CG/Public Notice-/2016-17/ Date: 11/04/2016 Public Notice Trade Marks Registry has treated many applications as abandoned under Rule 38 (5) of the Trade Marks Rules 2002, in cases where… Read More

Discussion Paper on Distribution of Cash benefits through Depositories

Consultation Paper on Distribution of Cash Benefits through Depositories For investments in various securities, investors receive cash benefits such as dividend, interest and redemption payments. At present, cash benefits are distributed directly by issuer companies to the investors mostly through their Registrar and Transfer Agents (RTAs). Though this model has worked fine, there is further… Read More

Guidelines for Maintaining the Denied Entities List(Del)

F.No. 18/24//HQ/99-2000/ECA II Directorate General Of Foreign Trade Ministry of Commerce & Industry Udyog Bhavan ,New Delhi Enforcement Division To All Port Offices Date: December 31, 2003 Sub: GUIDELINES FOR MAINTAINING THE DENIED ENTITIES LIST(DEL) The Denied Entities List ( earlier called ‘Black List’) is drawn under the provision of Rule 7 of Foreign Trade(Regulation)… Read More

Prevention of Money Laundering Act, 2002

PREVENTION OF MONEY LAUNDERING ACT, 2002 Introduction: PREVENTION OF MONEY LAUNDERING ACT, 2002 Came into force with effect from 01st July, 2005. The Act extend to whole of India except J&K. Objective: To prevent money- laundering, seize the property with authority, involved in money laundering Administration: Directorate of Enforcement of the Department of Revenue,… Read More

MCA released 8 FAQs on various Forms

Stakeholders are requested to make note of the following common queries. Stakeholders are also requested not to raise duplicate Helpdesk tickets. 1. Which eforms can I file as attachments with GNL-2? Annual filing eforms under the Companies Act, 1956 viz. 23AC/ACA, 23AC/ACA-XBRL, 20-B, 21-A, Form 66, I-XBRL, A-XBRL, 23B, 23C and 23D would be made… Read More

Draft rules for grant of Foreign Tax Credit

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 18th April, 2016 Subject: Draft rules for grant of Foreign Tax Credit – reg. The Income-tax Act, 1961 (the Act) provides that the Central Board of Direct Taxes may prescribe rules specifying the procedure for grant of… Read More