Corporate Law Reporter - The Daily Journal

SEBI eased the public issue norms reduces timeline to boost market

Capital market regulator Securities and Exchange Board of India (Sebi) on Tuesday halved the time required between listing and closing of an initial public offering (IPO) to six days. Currently, the IPO timeline is trade (T)+12 (where T is the last day of the issue), which will be reduced to T+6 for all public issues… Read More

RBI to work on July 1, 2015 to facilitate public transactions

On a review and in order to facilitate the settlement of market transactions, as also, to aid the transactions of the general public, the Reserve Bank of India has decided that it will remain open for public transactions on July 1, 2015. Normally, the Reserve Bank remains closed for public transactions every July 1 on… Read More

Delhi Government can now raise VAT to 30%

Not increasing the value-added tax directly in the Budget, the Delhi government on Monday introduced a VAT Amendment Bill that will allow the government to hike the tax on 11 goods by up to 30 per cent in future. Till now, the cap on the VAT on 11 items under the fourth schedule is between… Read More

Secretarial Standards to be in force w.e.f 1st July, 2015

The Institute of Company Secretaries of India (ICSI) had vide ICSI Notification No.1 (SS) of 2015 dated 23rd April, 2015, as published in the Gazette of India Extraordinary Part III Section 4, issued the Secretarial Standards on ˜Meetings of the Board of Directors™ [SS-1] and ˜General Meetings™ [SS-2] [collectively referred to as the Secretarial Standards].… Read More

Secretarial Standard -1 as issued by ICSI

Secretarial Standard prescribes a set of principles for convening and conducting Meetings of the Board of Directors and matters related thereto. This Standard is applicable to the Meetings of Board of Directors of all companies incorporated under the Act except One Person Company (OPC) in which there is only one Director on its Board. The principles… Read More

Secretarial Standard -2 as issued by ICSI

Secretarial Standard-2 seeks to prescribe a set of principles for the convening and conducting of General Meetings and matters related thereto. This Standard also deals with conduct of e-voting and postal ballot. This Standard is applicable to all types of General Meetings of all companies incorporated under the Act except One Person Company (OPC) and… Read More

Use online tax calculator to file Income Tax Return for Assessment Year 2015-16

The new Income Tax Return forms being recently notified for assessment year 2015-16, filers can do an easy check of their annual tax liability on a new computer-based 'calculator' launched by the Central Board of Direct Taxes. With the new Income Tax Return (ITR) forms being recently notified for assessment year 2015-16, filers can do an… Read More

Company law amendments will improve ease of doing business

The fresh amendments to the Companies Law will go a long way in improving ease of doing business as commented by the Institute of Chartered Accountants of India. The institute also welcomed the government's decision to set up an expert committee "to look into nitty-gritty and iron out creases". The proposed panel will also look… Read More

Sebi enhances vigil for money laundering through stock market

The Securities and Exchange Board of India has found hundreds of entities to have devised such unauthorised schemes to launder black money and evade taxes and is currently probing many other such cases. To check laundering of black money through stock market platform, regulator has enhanced its vigil for the entities engaged in such illicit trades… Read More

Due Date for withdrawal of all old series of Banknotes issued prior to 2005 deferred to 31st December, 2015

RBI/2014-15/650 DCM(Plg) No.G-15/5486/10.27.00/2014-15 June 26, 2015 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks Primary (Urban) Co-operative Banks/RRBs Dear Sir /Madam Withdrawal of all old series of Banknotes issued prior to 2005 Please refer to our circular DCM (Plg) No. G-19/3880/10.27.00/2013-14 dated March 03, 2014, DCM (Plg) No. G-8/3004/10.27.00/2014-15 dated December 31,… Read More

CBDT to remit IT refunds directly in the bank accounts of assesses

The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department. In a step that would bring delight to taxpayers, the Income Tax department has put in motion a new plan which will… Read More

New CSR policy to boost water & sanitation sector

MUMBAI: The new amendment made by the Modi Government in the Companies Act is expected to facilitate faster channelisation of Rs 20,000 crore CSR budget, a major chunk of which will go into clean water and sanitation sector, which is in focus due to Swachh Bharat Abhiyan. "The latest amendment in the Companies Act 2013… Read More

High-level committee to look at more changes in Companies Act

Another round of amendments to Companies Act 2013 are in the pipeline after the government eased a host of provisions of the comprehensive law enacted by the previous UPA government that was seen by many experts as draconian in its penal provisions. Provisions related to intercorporate loans, managerial remuneration, independent directors, insolvency and SMEs are… Read More