Corporate Law Reporter - The Daily Journal

SEBI (Share Based Employee Benefits) (Amendment) Regulations, 2015

THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, SEPTEMBER 18, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 18th September, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (SHARE BASED EMPLOYEE BENEFITS) (AMENDMENT) REGULATIONS, 2015 No.SEBI/LAD-NRO/GN/2015-16/021.”€In exercise of the powers conferred by sections 11, 11A and 30 of… Read More

CBDT forms committee to analyse industry-based tax assessment scenario

CBDT has constituted a new committee to examine the feasibility of implementing a new tax assessment system of 'industry-based jurisdiction' instead of the current system of territorial revenue collection in the country. The six-member committee, to be headed by a Principal Commissioner-rank officer of the Income Tax Department, has been created to act on the recommendations of the Tax Administration… Read More

Pension for Fast Track Court judges; SC issues notice

The Supreme Court today sought responses from Tamil Nadu government and the Registrar of the Madras High Court on a plea seeking pensionary benefits for former Fast Track Court (FTC) judges, appointed on ad-hoc basis like other retired judicial officers. The appeal has been filed against the February 14 order of the Madras High Court… Read More

Seeks to further amend Notification No.12/2012-Customs dated 17.03.2012

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 46/2015-Customs New Delhi, the 17th September, 2015 G.S. R. (E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do,… Read More

Electronic Funding in India: The Legal Framework

Introduction Information and Technology has revolutionised the entire world. It has not left any stone unturned in computerising almost every system in the world. And it™s obvious that is has led to the revolution of the Banking system. Gone are the days when payment and fund transfer sources were limited to physical methods such as… Read More

Sexual harassment case against seniors

GURGAON: A 33-year-old manager of a telecom giant accused three senior officials of sexually harassing her. Police have lodged an FIR against the three officials and also recorder her statement in a city court. According to police, the woman employee of the telecom company approached cops on Thursday after the company allegedly failed to address… Read More

Extension for a period of one month for the High Level Committee on CSR

CLR Notes Extension for a period of one month for the High Level Committee on CSR The Ministry of Corporate Affairs has issued a circular no. 13/2015 dated 16th September, 2015 to provide extension of time by one month for the High Level Committee to submit its report on the Corporate Social Responsibility which has… Read More

Guidelines on Compensation of Chief Executive Officer/ Whole Time Directors Restrictions under Section 20 of the Banking Regulation Act, 1949 Loans to Directors

RBI/2015-16/178 DBR.Dir.BC.No.38/13.03.00/2015-16 September 16, 2015 All Commercial Banks Dear Sir/Madam Guidelines on Compensation of Chief Executive Officer/ Whole Time Directors Restrictions under Section 20 of the Banking Regulation Act, 1949 Loans to Directors Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) prohibits banks from granting any loan or advance to any of its… Read More

Revised Disclosure formats under SEBI (Prohibition of Insider Trading), Regulations 2015

Securities and Exchange Board of India CIR/ISD/02/2015 … Read More

Disclosures to be made by NBFCs, in the offer documents for public issue of debt securities under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008

Securities and Exchange Board of India CIRCULAR CIR/IMD/DF/6/2015 … Read More

Approval to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015

Press Information Bureau Government of India Cabinet 16-September-2015 14:24 IST Approval to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015. The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015. The proposed amendments to the Negotiable Instruments Act, 1881 (The… Read More

Review of the existing Foreign Direct Investment policy on Partly Paid Shares and Warrants

CLR NOTES Analysis of Press Release No. 9 issued by Department of Industrial Policy & Promotion The department of Industrial Policy and Promotion has issued a Press Release No. 9 dated 16th September, 2015 for amending clause 2.1.5 of the FDI Policy. Earlier, clause 2.1.5 read as follows: ˜Capital™ means equity shares; fully, compulsorily & mandatorily… Read More

Clarification on FDI Policy on Facility Sharing Arrangements between Group Companies

CLR NOTES Analysis of Clarification dated 15th September, 2015 issued by Department of Industrial Policy & Promotion The Department of Industrial Policy and Promotion has issued a clarification dated 15th September, 2015 w.r.t. that whether Facility sharing arrangements between the group companies shall be construed as 'real estate' business activity or not. The department clarified that:… Read More