"February, 2016" Archive - Page 21

ICSI Recommendations on Companies Law Committee Report, 2016

ICSI Recommendations on Companies Law Committee Report, 2016 MCA may either relook the proposed amendment in context of ease of doing business or give the shelter as provided in section 4(7) of the Companies Act, 1956. Justification:      By    adding    explanation,    a private company subsidiary of Foreign body corporate ...

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Posted Under: Company Law |

Whole time KMP can serve one Company only: ICSI

It may be clarified by way of suitable amendment in the Companies Act that the interpretation of ‘plural’ with reference to subsidiaries relating to appointment of Key Managerial Personnel in this report, is to be construed as ‘singular’ i.e. only one subsidiary....

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Posted Under: Company Law |

Not allow KMP to hold multiple Position in same Company: ICSI

In view of the enormous challenges faced by corporates, particularly in areas related to corporate compliances, corporate governance, Board Processes, Stakeholder Relationship etc., services of whole time company secretary is the need of the hour, therefore individual responsibilities of different KMPs should not be merged and they should...

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Posted Under: Company Law |

Notification No. 28/2016-Customs (N.T.) Dated: February 18, 2016

Notification No. 28/2016-Customs (N.T.) 18/02/2016

In the notification 63/94-CUSTOMS (NT), dated the 21st November, 1994,, in the TABLE, against serial number 6 relating to land frontier of Nepal, in columns 3 and 4, after the existing entries, the following entries shall be inserted, namely:- Road connecting Sikta in West Champaran District, Bihar in India and Bhiswabazar in Nepal...

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Notification No 27/2016-Customs (N.T.) Dated: February 18, 2016

Notification No. 27/2016-Customs (N.T.) 18/02/2016

In the Notification No.12/97-CUSTOMS (N.T.), dated the 2nd April, 1997 in the Table, against serial number 5, relating to the State of Haryana, in columns (3) and (4), after item (viii) and the entries relating thereto the following item and entries shall respectively be inserted, namely:-...

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NBFC– Factors (Reserve Bank) Directions, 2012 – Review

RBI/2015-16/326 DNBR.CC.PD.No.074/03.10.01/2015-16 18/02/2016

The Reserve Bank of India had reviewed the guidelines on provision of factoring services by banks and specified certain conditions under which banks can departmentally undertake factoring activities. To ensure against regulatory gaps/ arbitrage if any, arising from differential regulations as between NBFC-Factors and banks, the following ...

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Frauds – Future approach towards monitoring of frauds in NBFCs

RBI/2015-16/327 DNBR (PD) CC.No.075/03.10.001/2015-16 18/02/2016

As regard reporting of frauds and submission of quarterly progress reports on frauds below the revised threshold, NBFCs will have to furnish the same to the Regional Office of Reserve Bank of India, Department of Non-Banking Supervision under whose jurisdiction the Registered Office of the NBFC falls....

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Govt announces initiative to create environment for Startup India

G.S.R. 180(E) 17/02/2016

The Government of India has announced ‘Startup India’ initiative for creating a conducive environment for startups in India. The various Ministries of the Government of India have initiated a number of activities for the purpose. To bring uniformity in the identified enterprises, an entity shall be considered as a ‘startup’-...

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Focus Product Scheme on export of omeprazole & Lansoprazole

Trade Notice No. 19/2015 17/02/2016

Department of Pharmaceuticals have been consulted who have clarified that this entry be interpreted as two specific entries containing finished dosage forms based upon either Omeprazole or Lansoprazole used as the Active Pharmaceuticals Ingredients rather than treating this entry as a formulated product containing both of these bulk drugs...

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SEBI Issue of Capital and Disclosure Requirements Second Amendment Regulations, 2016

Notification No. SEBI/LAD-NRO/GN/2015-16/036 17/02/2016

In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 13(8) and section 27(2) of the Companies Act, 2013, the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requi...

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