"21 April 2015" Archive

IRDAI (Appointment of Insurance Agents) Guidelines, 2015- Instructions to Insurers

IRDA/AGTS/CIR/GLD/081/04/2015 (21/04/2015)

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA IRDA/AGTS/CIR/GLD/081/04/2015, Dated- 21.04.2015 All Insurers: Re: IRDAI (Appointment of Insurance Agents) Guidelines, 2015- Instructions to Insurers. This circular is in continuation to the Guidelines on Appointment of Insurance Agents 2015 issued by the Authority vide notification ...

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Leave Travel Concession (LTC) entitlements of unmarried Government servants

F.No.31011/1/2013-Estt (A.IV) (21/04/2015)

Leave Travel Concession (LTC) entitlements of unmarried Government servants - Conversion of Home Town LTC facility into travel to different parts of the country permissible under the special dispensation scheme - Clarification - regarding....

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Practical Issues in Penalty U/s. 271D and 271E r.w. Section 269SS and 269T

Provisions Of 269SS, 269T, 271D AND 271E As Per Finance Bill 2014 And Finance Bill 2015 And Some Issues Regarding Penalty U/S 271D, 271E And Relating To Amendments. Consequences of contravention of section 269SS: Section 271D of Income Tax Act 1961 provides that if a loan or deposit is accepted in contravention of the provisions of sectio...

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Posted Under: Corporate Law |

Inter-se Transfer of Shares/Voting Rights under SEBI Regulations

Acquisition Of Shares Or Voting Rights Pursuant To Inter-Se Transfer Among Qualifying Parties Under SEBI (Substantial Acquisition Of Shares And Takeover) Regulations, 2011-According to Regulation 10(1) (a), acquisition pursuant to inter se transfer of shares among the qualifying parties are exempted from the obligation to make an open of...

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Posted Under: Corporate Law |

Comparison b/w a Private & Public Ltd Company under CA, 2013

The Companies Act of 2013 has done away with the relaxation to private companies in several provisions. The concept of not applicable to private company is no more in existence in the Act of 2013. Such a move in the Companies Act of 2013 has taken away certain privileges enjoyed by private companies....

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Posted Under: Corporate Law |

Wait is over!! CARO 2015 Notified, but should it be more comprehensive??

MCA has notified the Companies (Auditor’s Report) Order, 2015 (CARO, 2015) on 10th April, 2015. There was a lot of debate amongst professionals as to whether CARO will be applicable for the audit of the financial year 2014- 15. MCA has finally ended the debates by notifying CARO. ...

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Posted Under: Corporate Law |

SEBI : Notification- Designation of Special Court for Securities Laws in Mumbai | Date of Notification April 21, 2015

Notification No. S.O. 1060(E) (21/04/2015)

In exercise of the power conferred by Section 26A of the Securities and Exchange Board of India Act, 1992, Section 26A of the Securities Contracts (Regulation) Act, 1956 and Section 22C of the Depositories Act, 1996, the Central Government hereby designates 39th Sessions Court, City Civil Court, Greater Mumbai as the Special Court under a...

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Uses, Relevance & Importance of Common Seal- Companies Act, 2013

As we all know that a Company being an artificial person does not have a physical presence, it acts through its Board of Directors for carrying out its activities and for entering into various agreements. Therefore, Company uses Common Seal as its Signature. Common Seal is the signature of the company to any document on which it is affixe...

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Posted Under: Corporate Law |

SEBI : (Employees’ Service) (Second Amendment) Regulations, 2015

Notification No. SEBI-NRO/OIAE/GN/2015-16/002 (21/04/2015)

Every employee shall make a declaration of his assets and liabilities as under,- every employee, within thirty days from the date of joining the services of the Board shall furnish to the Board, information as per sub-section (2) of section 44 of the Lokpal and Lokayuktas Act, 2013....

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ITAT justified in extending period of stay of demand beyond 365 days in case hearing could not be taken up for reason not attributable to assessee

United Health Group Information Services Pvt. Ltd. Vs DCIT (Delhi High Court)

The petitioner has filed an appeal being ITA No.825/Del/2014 before the Income Tax Appellate Tribunal being aggrieved by the order passed by the Dispute Resolution Panel on 31.10.2013. The Tribunal, at the initial stage, that is, on 31.03.2014, had granted stay of the demand which had been raised subsequent to the said order...

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