Online incorporation of companies within 24 hours
General Circular No. 49 /2011; GOI; MCA; Dated 23rd July, 2011 All Regional Directors, All Registrar of Companies. Sub: Online incorporation of companies within 24 hours In order to give ease to the corporate world to carry business in India, the Ministry of Corporate Affairs has been simplifying the procedures under the Companies Ac t, 1956. As another… Read More
Simplified procedure for obtaining online approval of Central Government U/S 297 of the Companies Act, 1956
General Circular No. 52/2011; GOI;MCA; Dated 25th July, 2011 CLR Note: Effective 24th Sept, 2011, Sec 297 approvals will be given online. The procedure will be much simplified and there will be no need to visit the Regional Director Office for such approvals nor any documents need to be filed physically. The approval can be… Read More
Rectification of register of charges under section (U/s) 141 of the Companies Act, 1956 Simplified
General Circular No. 51 / 2011; GOI; MCA; Dated 25th July, 2011 CLR Note: The major change in the simplified procedure is the transfer of jurisdiction of approval of such cases including condonation in delay for form 8 & 17 will now be transferred to the Registrar of Companies instead of Company Law Board. The… Read More
Shifting of Registered Office from one state to another state now becomes easier
General Circular No. 50 / 2011; GOI; MCA; Dated 25th July, 2011 All Regional Directors, All Registrar of Companies, All Stakeholders Sub: Simplified procedure for obtaining confirmation of shifting of registered office from one state to another state under section 17 of the Companies Act,1956. In order to simplify the procedures and cut timelines, the Ministry has… Read More
RBI Press release on Macroeconomic and Monetary Developments : First Quarter Review 2011-12
The Reserve Bank of India today released the Macroeconomic and Monetary Developments First Quarter Review 2011-12. The document serves as a background to the Monetary Policy Statement 2011-12 to be announced on July 26, 2011. The major highlights of the document are set out below. Overall Outlook Taming inflation warrants continuation of anti-inflationary monetary stance Inflation… Read More
Dishonour / Return of Cheques – Banks need to Sign / Initial the Cheque Return Memo
RBI/2011-12/121 DPSS.CO.CHD.No. 120 / 03.06.01 / 2011-12 July 25, 2011 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir, Dishonour / Return of Cheques - Need to Sign / Initial… Read More
RBI: Quarterly Report of Financial Inclusion Indicators discontinued
RBI/2011-12/122 RPCD.FID.BC.No.13/12.01.011/2011-12 July 22, 2011 The Chairman/Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Financial Inclusion Indicators: Quarterly Reporting-Discontinuance of Please refer to our Circular RPCD. MFFI. No 11324/12.01.011/2007-08 dated April 24, 2008 in terms of which you were advised to submit quarterly statements pertaining to certain financial inclusion… Read More
Jurisdictional CIT should not be part of Dispute Resolution Panel to avoid likelihood of bias
Pursuant to s. 147 reopening and a draft assessment order u/s 144C, the assessee filed objections before the Dispute Resolution Panel (DRP). As the Director of Income Tax (International Taxation)-II (DIT-IT) who had granted approval to the reopening and had supervised the passing of the draft assessment order was a member of the DRP, the assessee… Read More
Utilising CFCs Service for XBRL filing of financial statements from 2010-11 onwards
ICSI- Utilising CFCs Service for XBRL filing of financial statements from 2010-11 onwards The Institute is pleased to inform that Ministry of Corporate Affairs has decided to utilize the services of Certified Filing Centers (CFC) for enabling companies to file their financial statement in XBRL from FY 2010-11 onwards. CFC would also be required to assist… Read More
Last date for filing of BS & P&L in XBRL mode likely to be extended till 30th November
Last date for filing of Balance Sheet, Profit and loss Account in XBRL is extended till 30th November. Announced by MCA in XBRL web seminar. Expect circulars to this effect soon. Read More
Conditions and modalities for registration of contracts of cotton waste including yarn waste and garneted stock [ITC(HS) Code 5202] with DGFT.
Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhavan, New Delhi. Policy Circular No. 34 (RE-2010)/2009-14 Dated the 1st July, 2011 To All Customs Authorities / All Regional Authorities / Members of Trade. Subject:- Conditions and modalities for registration of contracts of cotton waste including yarn waste and garneted stock… Read More
Payment of fees to CAs in cases where funds are not permitted from Common Pool Fund
GENERAL CIRCULAR NO. 42/2011 35/6/2011-Insolvency Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr. R.P. Road, New Delhi-110001 Dated: 7thJuly 2011 To All Regional Directors All ROCs All Official Liquidators Subject: Payment of fees to CAs in cases where funds are not permitted from Common Pool Fund. Sir, It has been… Read More
MCA invites comments on Draft Public Companies (Terms of Issue of debenture and of raising of loans with option to convert such debentures or loans in to shares) Rules, 2011
No 2/8/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi Dated: 13.07.2011 All the Regional Directors, All the Registrar of Companies All stakeholders Subject : Draft Public Companies (Terms of Issue of debenture and of raising of loans with option to convert such debentures or… Read More
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