indian companies act

Earlier, the entities that fell under the ambit of the law included only chit fund companies, banking companies, financial institutions and housing finance companies. The amendment now says any company registered under section 25 of the Indian Companies Act, 1956, and/or as a trust or society under the Societies Act, 1860, or any similar state legislation, will be brought under the purview of PMLA. Full Article

Section 172 of the Act 1961 is carefully considered by us. Chapter XV titles as "LIABILITY IN SPECIAL CASES". We have no concern with sections, starting from Section 159, till Section 171 from this Chapter XV. Section 172 comes under sub-title "H.-Profits of nonresidents from occasional shipping business". Title of Section 172 is "Shipping business of non-residents. " For bringing a case under Chapter XV, H of the Act 1961, one has to establish a case of profits of non-r.. Full Article

Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion (FC Section) Press Note No. 4 (2009 Series) Subject: Clarificatory guidelines on downstream investment by Indian Companies. The Policy for downstream investment by Indian companies seeks to lay down and clarify about compliance with the Foreign investment norms on entry route, [...] Full Article

Government of India -Ministry of Commerce & Industry-  Department of Industrial Policy & Promotion-  (FC Section)                     Press Note No 3 (2009 Series) Subject: Guidelines for transfer of ownership or control of Indian companies in sectors with caps from resident Indian citizens to non-resident entities. At present, the transfer of shares from residents to non-residents, including [...] Full Article