"05 October 2011" Archive

Notification No. G.S.R. 749(E), dated 05/10/2011

Notification No. G.S.R. 749(E) 05/10/2011

These rules may be called the Companies (Central Government's) General Rules and Forms (Amendment) Rules, 2011. (2) They shall come into force with effect from 6th October, 2011. 2. In the Companies (Central Government's) General Rules and Forms, 1956, after Form 23ACA, the following Forms shall be inserted, namely:-...

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Companies who need to file B/S & P/L Account in XBRL have to file form 23AC-XBRL & 23ACA-XBRL

Notification No. G.S.R. 748 (E) 05/10/2011

The following class of companies have to file their Balance Sheet, Profit and Loss Account and other documents as required under section 220 of the Companies Act, 1956 with the Registrar using the Extensible Business Reporting Language (XBRL) taxonomy given in Annexure enclosed to the rules for the financial year ending on or after 315t M...

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Quartely Result of Listed Companies should disclose figures in respect of immediately preceding quarter and shall be accompanied by limited review report

Circular No. CIR/CFD/DIL/7/2011 05/10/2011

(a) Amendments to Clause 41 - Disclosure of quarterly financial results- i) In order to give a better comparative picture of the quarterly financial results, listed entities shall disclose figures in respect of immediately preceding quarter as well in addition to the existing requirements. ii) Listed entities shall also submit the ...

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Sebi announces Uniform Know Your Client (KYC) Requirements for the Securities Markets

Circular No. MIRSD/SE/Cir-21/2011 05/10/2011

Capital market regulator Sebi vide CIRCULAR MIRSD/SE/Cir-21/2011 , Dated- October 5, 2011 announces introduction of uniform forms and documents for the purpose of customer identification by different market intermediaries like stock exchanges and mutual funds, a step intended to bring uniformity to the process. The new rule will be ef...

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RBI relaxes domestic money transfer norms for those who do not have access to formal banking channels for want of proof of identity/address

RBI/2011-12/213 DPSS.PD.CO.No. 62/02.27.019/2011-2012 05/10/2011

At present only banks are permitted to initiate money transfers in the country subject to adherence of KYC/AML guidelines. A large number of people, particularly the migrant population, do not have access to formal banking channels for want of proof of identity/address. Consequently, they face difficulties in using the authorized channels...

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Demand of dues after settlement amounts to extortion of money from complainant by the bank

Censuring Standard Chartered Bank for raising undue credit card bills against a customer and trying to 'extort' money from him, a Delhi district consumer forum has asked the bank to pay him Rs 1.1 lakh as damages.The District Consumer Disputes Redressal Forum said raising undue credit card bill of Rs 74,000 and putting the customer's name...

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Posted Under: Company Law |

Supreme Court interprets choice of SIAC Rules as exclusion to the applicability of Part I of the Indian Arbitration Act

Yograj Infrastructure Ltd Vs Ssang Yong Engineering & Construction Co. Ltd., (Supreme Court of India)

Yograj Infrastructure Ltd Vs Ssang Yong Engineering & Construction Co. Ltd. (Supreme Court of India)- SC ruled that where the seat of arbitration was Singapore, rules governing the arbitration were of the Singapore International Arbitration Centre (SIAC) and the substantive law of contract was Indian law, then Part I of the Arbitration an...

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Exposure Draft of Amendments to Ind AS 12 Income Taxes (Comments to be received by 5 November 2011)

Following is the Exposure Draft of the Amendments to Indian Accounting Standard (Ind AS) 12, Income Taxes, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. The Board invites comments on any aspect of this Exposure Draft. Comments are most helpful if they indicate the specific parag...

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Posted Under: Company Law |

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