It has come to our notice that students are being misguided about the applicability of the Revised Scheme of Education and Training especially the Foundation course w.e.f May 2016 and elimination of the existing Common Proficiency Test without providing single option to appear in it on the announcement of the revised scheme.
Section 47 of Companies Act, 2013 provides for voting rights of the shareholders. The same corresponds to Section 87 of the Companies Act, 1956 (Act, 1956). Section 87 of Act, 1956 clearly demarcated the rights of cumulative and non-cumulative preference shareholders in case of default in payment of dividend; whereas Section 47 of Act, 2013 does not provide for the same.
Minimum government and maximum governance is surely a welcomed initiative. With an objective of achieving the ease of doing business in the country and to fast-tack the hindered projects, NDA government has launched various campaigns. ‘Start-up India’ and ‘Make in India’ have been the recent initiative. DIPP issued press note no. 12 dated 24th November, 2015 (shall come into effect immediately) thereby liberalising FDI in favour of 15 major sectors.
The introduction of GST would be significant step in the reform of Indirect Taxation in India. Amalgamating Several Central and State Taxes into single tax would mitigate cascading or double taxation, facilitating a common national market. The simplicity of tax should lead to easier administration and enforcement.
The entire IAS 39 Financial Instruments: Recognition and Measurement, on which AS 30 Financial Instruments: Recognition and Measurement was based, has been replaced by IFRS 9 Financial Instruments. Therefore, the Government of India opted to notify Ind AS 109 Financial Instruments in correspondence to IFRS 9 and not IAS 39. Also, AS 30, AS 31 and AS 32 on ‘Financial Instruments’ were earlier proposed to be made mandatory for Level I entities only.
