The Companies (Acceptance of Deposits) Amendment Rules, 2014
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 6th June, 2014 G.S.R. 386(E).” In exercise of the powers conferred by Sections 73 and 76 read with sub-section (1) of Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Acceptance of Deposits) Rules,… Read More
Controls on appointment of Regular Directors/ Whole time Directors/Managing Directors Under the Companies Act, 2013
Section 152, 164, 165, 167, 196 and Schedule V read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 govern the appointment of Regular Directors, Whole time Director and Managing Directors. The qualifications to be appointed for these posts are well enumerated in the Act as well as in the rules. The aforesaid provisions… Read More
Foreign investment in India participation by registered FPIs, SEBI registered long term investors and NRIs in non-convertible/redeemable preference shares or debentures of Indian companies
RBI/2013-14/632 A.P. (DIR Series) Circular No.140 June 6, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Foreign investment in India participation by registered FPIs, SEBI registered long term investors and NRIs in non-convertible/redeemable preference shares or debentures of Indian companies Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5… Read More
Clarifications on Rules prescribed under the Companies Act, 2013 – Matters relating to appointment and qualifications of directors and Independent Directors – reg.
General Circular No. 14/2014 No. 1/22/2013-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr R.P. Road, New Delhi Date: 9th June, 2014 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Clarifications on Rules prescribed under the Companies Act, 2013 - Matters relating to appointment and qualifications… Read More
Pledge of shares for business purposes in favour NBFCs
RBI/2013-14/633 A.P. (DIR Series) Circular No.141 June 6, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Pledge of shares for business purposes in favour NBFCs Attention of Authorised Dealer Category I (AD Category I) banks is invited to the provisions of Para. 2 (i) of A. P. (DIR Series) Circular No. 57 dated… Read More
Foreign investment in the Insurance Sector Amendment to the Foreign Direct Investment Scheme
RBI/2013-14/629 A.P. (DIR Series) Circular No.139 June 5, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Foreign investment in the Insurance Sector Amendment to the Foreign Direct Investment Scheme Attention of Authorised Dealers Category I (AD Category - I) banks is invited to Annex B of Schedule 1 to the Foreign Exchange Management… Read More
ISSUE OF SHARE CERTIFICATES AND ALLIED MATTERS UNDER THE NEW RULES
The age old Companies (Issue of Share Certificate ) Rules, 1960 has been replaced with the new Rules viz., Companies (Share Capital and Debentures ) Rules, 2014 with respect to Issue of Share Certificates and other allied matters. From now on the following rules governing Share Certificates shall apply. Let us explore one by one.… Read More
Opening of Bank Accounts in the Names of Minors
RBI/2013-14/581 DBOD.No.Leg.BC.108/09.07.005/2013-14 May 6, 2014 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Opening of Bank Accounts in the Names of Minors Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated December 29, 1976 wherein banks were advised to allow minors' accounts (fixed and savings deposit accounts) with mothers as guardians to be opened subject to safeguards… Read More
Growing NPAs in Banks: Efficacy of Ratings Accountability &Transparency of Credit Rating Agencies
Speech delivered by Shri R. Gandhi, Deputy Governor, Reserve Bank of India at the Conference conducted by ASSOCHAM on May 31, 2014, at Le-Meridian, New Delhi Shri Jajodia, Shri Narang, Shri Dubey, Shri Kulkarni, Shri Dogra, Shri Khanna, Shri Pathak, other distinguished speakers, Ladies and Gentlemen, a very good morning to everyone! To start with… Read More
Liberalised Remittance Scheme (LRS) for resident individuals-Increase in the limit from USD 75,000 to USD 125,000
RBI/2013-14/624 A.P. (DIR Series) Circular No.138 June 3, 2014 To All Category I Authorised Dealer Banks Madam/Sir, Liberalised Remittance Scheme (LRS) for resident individuals-Increase in the limit from USD 75,000 to USD 125,000 Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the A.P.(DIR Series) Circular No 24 dated August 14, 2013 and the subsequent… Read More
Statutory Liquidity Ratio (SLR) reduced to usher liquidity
RBI/2013-14/626 RPCD.CO.RRB.BC.No.106/03.05.33/2013-14 June 4, 2014 The Chairmen All Regional Rural Banks Dear Sir/Madam, Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR) Please refer to our circular RPCD.CO.RRB.BC.No.22/03.05.28(B)/2012-13 dated August 1, 2012 on the captioned subject. 2. As announced in the Second Bi-monthly Monetary Policy statement 2014-15 by Reserve… Read More
MOU signed by IICA on CSR Implementation
The Indian Institute of Corporate Affairs (IICA) and Grant Thornton India have signed a memorandum of understanding (MoU) to develop capacity of Indian companies to implement their corporate social responsibility (CSR) effectively. According to Ministry of Corporate Affairs, the objective of the MoU, initialled Tuesday, is to implement the new CSR rules laid down as per the… Read More
Comments solicited on Revised Exposure Drafts of Secretarial Standards w.r.t. General and Board meetings (Last date: June 30, 2014)
Dear Members, The Secretarial Standards Board (SSB) of the Institute of Company Secretaries of India (ICSI) had revised its Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2) as per the new Act and Rules thereunder and hosted the Exposure Drafts thereon for public comments on its… Read More
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