Operations of foreign branches and subsidiaries of the Indian banks Compliance with statutory/regulatory/administrative prohibitions/restrictions
RBI/2013-14/588 DBOD.No.BP.BC.111/21.04.157/2013-14 May 12, 2014 All Scheduled Commercial Banks (Excluding RRBs and LABs) & All India Term-Lending & Refinancing Institutions Madam / Sir, Operations of foreign branches and subsidiaries of the Indian banks Compliance with statutory/regulatory/administrative prohibitions/restrictions Please refer to the Circular DBOD.No.BP.BC.89 /21.04.141/2008-09 dated December 1, 2008 on the captioned subject. In terms of… Read More
Pay IT dues in advance at RBI or at authorised bank branches
The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. It has also stated that assessees can use alternate channels like select branches of agency banks or the facility of online payment of taxes offered by these banks. These will obviate… Read More
Mergers of Public sector Banks.
Mergers of Public sector Banks and its implications Introduction Banks are the nerve centers of trade, commerce and business in a country. Banking plays a very important part in the economic development of all the nations of the world. Industrial revolution that took place in the 18th and 19th centuries would not have taken place… Read More
Report of the Committee to Review Governance of Boards of Banks in India released
The Reserve Bank of India has placed on its website, the Report of the Committee to Review Governance of Boards of Banks in India (Chairman: Dr. P.J.Nayak). The comments, if any, on the recommendations of the Report, may be emailed or sent by post to the Chief General Manager, Reserve Bank of India, Department of… Read More
RBI warns about Fake Website in its Name
It has come to the notice of the Reserve Bank of India today that a fake website has been created at http://www.rbi-inonline.org/savings.html by some unknown persons offering various banking facilities and asking members of public to apply on-line for opening RBI Savings Account. The Reserve Bank clarifies that as India's central bank, the Reserve Bank… Read More
MCA General Circular no. 13 /2014: Extension of validity period for names reserved as on 31st March, 2014
General Circular no. 13 /2014 F. No: MCA21/28/2014-e.Gov. Government of India Ministry of Corporate Affairs `A' Wing, 5th Floor, Shastri Bhawan Dr. Rajendra Prasad Road, New Delhi-110001 Date: 23.05.2014 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Extension of validity period for names reserved as on 31st March, 2014. Sir, In continuation… Read More
Analysis of Related Party Contracts under Companies Act, 2013 including FAQs
SECTION 188 deals with related Party Contracts. We shall try to understand the Statutory compliance relating to ˜RELATED PARTY CONTRACTS™ under the Companies Act, 2013 in the form of FAQs. Applicability of the Section Section 188 of the Companies Act, 2013 is applicable to both Private and Public companies and is effective from 1st April,… Read More
MCA General Circular 12/2014: Applicability of PAN requirement for Foreign Nationals
General Circular No. 12 / 2014 F.No.1/12/2013 CL-V Government of India Ministry of Corporate Affairs 'A' Wing, 5th Floor, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi-110001 Dated: 22nd May, 2014 To AlI Regional Directors, All Registrar of Companies, All Stakeholders. Sub: Applicability of PAN requirement for Foreign Nationals. Sir, Attention of Ministry has been drawn… Read More
Delegation of Powers w.r.t. DIN to Regional Director(RD) Noida
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (ii)] GOVERNMENT OF INDIA Ministry of Corporate Affairs Notification New Delhi, the 21st May, 2014 S.O.________ (E).- In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), and in supersession of the notification… Read More
Delegation of Powers to Regional Directors (RDs)
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (ii)] GOVERNMENT OF INDIA Ministry of Corporate Affairs Notification New Delhi, the 21st May, 2014 S.O.________ (E).- In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), and in supersession of the notification… Read More
Delegation of Powers to Registrar of Companies (ROC)
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (ii)] GOVERNMENT OF INDIA Ministry of Corporate Affairs Notification New Delhi, the 21st May, 2014 S.O._______ (E).- In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), and in supersession of the notification… Read More
Book on Companies Act, 2013 with Rules, Circulars, Notifications and Orders by eMinds Legal
COMPANIES ACT, 2013 - SIMPLIFIED - BY EMINDS LEGAL, 2ND EDITION Analytical Commentary on the provisions of the Companies Act, 2013 containing Section-wise Comments, Applicable Rules, Notifications, Circulars & Orders along with comparative tables of the 1956 : 2013 Acts and Tables with checklists consolidating different provisions of the Act and the Rules. Companies Act,… Read More
Foreign Direct Investment (FDI) in India Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures
RBI/2013-14/577 A.P. (DIR Series) Circular No.127 May 2, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Foreign Direct Investment (FDI) in India Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures Attention of Authorised Dealer Category I (AD Category I) banks is invited to… Read More
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