Corporate Law Reporter - The Daily Journal

Reporting under Foreign Direct Investment

RBI/2014-15/133 A.P. (DIR Series) Circular No. 6 July 18, 2014 To All Category - I Authorised Dealer banks Madam / Sir, Foreign Direct Investment Reporting under FDI Scheme Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to the provisions of the Foreign Exchange Management (Transfer or Issue of Security by… Read More

Amendment in Companies (Specification of definitions details) Rules, 2014

The Ministry of Corporate Affairs has amended Rule 3 of the Companies (Specification of definitions details) Rules, 2014 and has issued Companies (Specification of definition details) Amendment Rules, 2014 dated 17.07.2014 which shall come into force from the date of publication in the official gazette. The explanation of Rule 3 readwith 2(76) of the Act,… Read More

Companies (Miscellaneous) Rules, 2014 amended

The Ministry of Corporate Affairs has made an amendment in the Companies (Miscellaneous) Rules, 2014 dated 17.07.2014 to insert a new Sub Rule 11 after Rule 10 in the said rules, which shall be as under: Rule 11: Applications or forms pending before Central Government, Regional Director or Registrar of Companies - Any application or… Read More

Increase in remittance limit from USD 75,000 to USD 1,25,000 for resident individuals

The Reserve Bank of India has issued a circular A.P.(DIR Series) No. 5 dated 17.07.2014 to liberalise the remittance scheme for the resident individuals from USD 75,000 to USD 1,25,000 per financial year. According , now the permission has been granted to remit up to USD 1,25,000 per financial year, under the scheme for any… Read More

Registration of names to be in consonance with the Emblems and Names (Prevention of Improper use) Act, 1950

The Ministry of Corporate Affairs has issued a Circular No. 29/2014 dated 11.07.2014 in continuation of circular 2/2014 and 26/2014 with respect to the clarification for Registration of names and has further clarified certain norms which state the name registration shall be in consonance with the provisions of the Emblems and Names (Prevention of Improper… Read More

Clarification on Applicability on matters relating to Related party Transactions

The Ministry of Corporate Affairs has issued a circular no. 30/2014 dated 17.07.2014 in order to provide clarification with respect to the matters relating to Related Party transactions as specified under section 188 of the Companies Act, 2013. The provision as laid down in section 188(1) of the Companies Act, 2013 is contained herein below:… Read More

Recognition to partly paid-up equity and warrants as FDI Compliant Instruments

The Reserve Bank of India has issued a (A.P. DIR Series) Circular No. 3 dated 14.07.2014 with respect to the regulations made there under in regard with Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 in terms of which only equity shares and compulsorily convertible preference shares… Read More

Clarification on ‘Clause V’ of the Related Party under CA 2013

The Ministry of Corporate Affairs has issued Companies (Removal of Difficulties) Fifth Order, 2014 dated 09.07.2014 with respect to clarification on Clause V in the definition of Related Party Transactions in which the word 'or' shall be substituted with 'and' as the stakeholders were facing a lot obstacles in Clause V contained in the definition.… Read More

Relief provisions for SEZ’s in pipeline with the government

The amid expectations of the Special economic zones with respect to the tax concessions may not have found a way in the Budget but the Government is working on the comprehensive package which is currently in pipeline for the SEZ's for granting various incentive schemes and exemptions to boost the investments, exports and overall economic… Read More

Brief overview of the compliances for Private Companies under CA 2013

The main change in the definition of a private company is in the increase in the limit of the number of members from 50 to 200 . Secondly, the definition does not state that a company inviting or accepting deposits from persons other than its members, directors or their relatives cannot be a private company.… Read More

FM takes fizz out of Colas and kicks smokers

The Minister of Finance has taken the fizz out of the Indian Beverage Industry, while his budget proposal of increasing excise duty on aerated drinks with added sugar like Coke, Pepsi initially have been targeted but it seems that this increase would further apply to even the sports drinks and other flavored drinks with sugar… Read More

FDI Highlights in Union Budget 2014-15

The Finance Minister has set himself to uproot the situation of Fiscal Crisis in India and have set out a target to be achieved in the fiscal year 2015 at 4.1%. Further, he has tried to repose the confidence amongst the foreign investors by increasing the FDI limit in some sectors and has also abolished… Read More

Clarification on Clause V in the definition of ‘Related Party’

The Ministry of Corporate Affairs has issued Companies (Removal of difficulties) Fifth Order, 2014 dated 9th July, 2014 in order to provide clarification with respect to the clause V in the definition of Related Party which contained the word 'or' shall now be substituted with 'and' as the position became difficult because of the use… Read More