Unclaimed Deposits in Banks and Insurance Companies

(i) All insurers are required to display the information about any unclaimed amount above Rupees 1000/- of Policyholders in their respective web-site. (ii) A facility shall be given in the web-site of the insurer to enable Policyholders / or its dependents to find out whether any unclaimed amounts due to them are lying with the insurer....

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Posted Under: Corporate Law |

Using digital technology to accelerate business growth

In India, adoption of advanced business digital technologies can lead to increase in revenues by up to 27%, increase in employment by up to 84% and enhanced access to international markets by up to 65% for small and medium business (SMBs), according to ASSOCHAM-Deloitte joint study....

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Posted Under: Corporate Law |

CCI order against CIL and subsidiaries for abusing dominant position

Maharashtra State Power Generation Company Ltd . Vs. Mahanadi Coalfields Ltd. & Others (Competition Commission of India)

Competition Commission of India (CCI) has found Coal India Limited (CIL) and its subsidiaries to be in contravention of the provisions of Section 4(2)(a)(i) of the Competition Act, 2002 for imposing unfair/ discriminatory conditions in Fuel Supply Agreements (FSAs) with the power producers for supply of non-coking coal....

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Posted Under: Corporate Law | ,

Revisit Provisions Regulating Disciplinary Control Over Lawyers: SC

Supreme Court Directs Law Commission of India to Revisit the Provisions Relating to Regulation of Disciplinary Control Over Lawyers Under the Advocates Act ...

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Posted Under: Corporate Law |

Promotion of Digital/Cashless Transactions by Government

The data on payment system indicators such as Paper Clearing, National Electronic Fund Transfer (NEFT) and National Automated Clearing House (NACH), registered growth in December, 2016 as compared to November 2016. However, the same showed a decline in January 2017 as compared to December 2016. • Immediate Payment Service (IMPS), Unifie...

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Posted Under: Corporate Law |

Draft Law on Ponzi Schemes

A copy of the Report of the IMG along with the draft Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill was placed on the website of the Department of Financial Services (DFS) in March, 2016 for eliciting public comments. ...

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Posted Under: Corporate Law |

Govt notifies Third Protocol Amending India-Singapore DTAA

Third Protocol amending India-Singapore Double Taxation Avoidance Agreement (DTAA) which was signed on 30.12.2016, has come into force on27.02.2017....

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Posted Under: Corporate Law |

Amendment in Custom / Excise to facilitate GST & abolish cesses & surcharges

Cabinet approves Amendment of in the Customs and Excise Act, relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime...

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Posted Under: Corporate Law |

Railway official booked for accepting demonetized currency notes

Cbi registers a case against an official of itarsi railway station and others for allegedly depositing old notes of rs.61 lakh (approx).The accused cheated the Government by accepting the licence fee in cash in the form of demonetized currency notes in violation of Government notification....

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Posted Under: Corporate Law |

Download Finance Bill 2017 as passed by Lok Sabha

Lok Sabha passes  Finance bill 2017 on 22.03.2017 with 189 Amendments to following Acts and 9 related schedules:- Income Tax Act, 1961 and Rules Custom Act,1962 Excise Duty Act, 1944 Finance Act, 1994 The Indian Trusts Act, 1882 The Indian Post Office Act, 1898 The Reserve Bank Of India Act, 1934 The Representation Of The […]...

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