"22 January 2015" Archive

Inside Look at Insider Trading Regulations, 2015

The new Regulations also cast duties on the compliance officer appointed under the Regulations including monitoring and compliances of requirements under the Regulations. Such duties are to be undertaken very prudently. Say in case of employees where there is no requirement of initial disclosure but continual disclosure is required to be ...

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Posted Under: SEBI |

How to Shift Registered Office of Company with In State?

Every company is governed in accordance with the provisions of the Companies Act, 2013, therefore, it is mandatory for all companies to keep the Registrar of Companies informed about the location of the registered office and changes. Thereto from time to time, Promoters of the Company decide the State in which the registered office shall...

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Posted Under: SEBI | ,

Salient features of ‘Depository Receipts Scheme, 2014’

RBI/2014-15/421 A.P. (DIR Series) Circular No. 61 (22/01/2015)

A new scheme called ‘Depository Receipts Scheme, 2014’ (DR Scheme, 2014) for investments under ADR/GDR have been notified by the Central Government effective from December 15, 2014 which provides for repeal of extant guidelines for Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 19...

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What Bank Should disclose while grating credit Facility & on website?

RBI/2014-15/422 DBR.Leg.No.BC.64/09.07.005/2014-15 (22/01/2015)

Banks should provide a clear, concise, one page key fact statement/fact sheet, as per prescribed format in Annex, to all individual borrowers at every stage of the loan processing as well as in case of any change in any terms and conditions. The same may also be included as a summary box to be displayed in the credit agreement....

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Exemption from Payment of advance VAT to works contractors

Instruction on Exemption from payment of advance VAT to works contractors in Punjab The Excise and Taxation Commissioner, Punjab has issued instructions to grant advance VAT exemption to the works contractors whose TDS u/s 27 of Punjab VAT Act, 2005 is being deducted. It is worth mentioning here that this instruction has come after the [&...

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Posted Under: SEBI |

FEMA terms for ODI by proprietorship concern / unregistered partnership firm in India

RBI/2014-2015/419 A.P. (DIR Series) Circular No.59 (22/01/2015)

Keeping in view the changes in the definition / classification of the exporters as per the Foreign Trade Policy of the Ministry of Commerce and Industry issued from time to time, it has been decided to review the policy framework for Overseas Direct Investments (ODI) by a proprietorship concern / unregistered partnership firm in India. ...

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Issue of partly paid shares & warrants by Indian companies

PR No. 19/2015 (22/01/2015)

While discussing the minutes of the 157th Meeting of the Board held on November 19, 2014, it was decided to add a provision that if the acquirer and the Merchant Banker are able to demonstrate that they have contacted all the public shareholders, about the offer in the manner prescribed, then the condition of mandatory participation of 25...

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A Customs Broker is per-se not an agent of importer or exporter

Public Notice No. 08/2015-customs Duty (22/01/2015)

Section 147 is about liability of Principal and Agent. A Customs Broker is per-se not an agent of the importer or exporter. Section 147 will be applicable to a Customs Broker if the Customs Broker is expressly or impliedly authorized by the owner, importer or exporter of any goods to be his agent....

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Guideline for Press Release/Media publicity by CCIT/CIT

F. No. M&TP/CBDT/2014-15/55/318 (22/01/2015)

As per the current Media Policy of the Department, CIT( M&TP), CBDT acts as the Official Spokesperson and Media Coordinator of the CBDT. The CIT (M&TP) is responsible for effective communication with print/electronic media and for compiling the information prior to putting it in public domain with due consideration of its utility and conf...

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Penalty for late filing of the e-forms under Companies Act, 2013

If a assessee delays filing of e-form by more than 270 days from the time period granted for filing of the respective e-form, then penalty as given in the concerned section will be imposed. For eg: If the resolution to be attached in MGT-14 is passed on 21.01.2015, then normal time to file the form is 30 days. Penalty will be imposed if t...

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