"22 June 2016" Archive

Reg. Withdrawal of appeals by Department before CESTAT/HC

Order No. F.No.390/Misc./163/2010-JC (22/06/2016)

After reviewing the reports of the zones, it is noticed that some of the zones have changed their zone's figures in respect of number of appeals identified for withdrawal before HC/CESTAT reducing the total number by around 400 Nos. The earlier reported figures were already taken up for presentation in the Chief Commissioners Conference....

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Cabinet approves amendment in DTAA with Belgium

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved today the signing of a Protocol amending the Agreement between India and Belgium for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income....

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Posted Under: Service Tax |

Resolving Stress in the Banking System

Today, however, I want to talk about the resolution of financial distress. I will argue that the slowdown in credit growth has been largely because of stress in the public sector banking and not because of high interest rates. As such, what is required is a clean-up of the balance sheets of public sector banks, which is what is underway a...

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Posted Under: Service Tax |

Draft Guidelines for Capital for CCR and Exposure to CCPs

RBI/2015-16/ DBR.No.BP.BC./21.06.201/2015-16 (22/06/2016)

Please refer to the paragraph 27 of the first bi-monthly monetary policy statement for 2016-17. It was indicated therein that RBI will issue draft guidelines on Standardised Approach for measuring counterparty credit risk exposures (SA-CCR) by end-May 2016. This revised method will replace the Current Exposure Method (CEM), presently bein...

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Debentures Under Companies Act 2013- Legal Analysis

Debenture: The word ‘debenture’has been derived from a Latin word ‘debere’ which means to borrow. Debenture is a written instrument acknowledging a debt to the Company. It contains a contract for repayment of principal after a specified period or at intervals or at the option of the company and for payment of interest at a fixed r...

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Posted Under: Service Tax |

Statutory provisions related to Debenture Trustees

After seeing a series of defaults made by companies in payment of interest and principal amount even in case of secured debentures, almost every investor who has invested his hard-earned money in such debentures is worried and puzzled as to whether, investment in secured debentures is really secure? In order to improve the deteriorating c...

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Posted Under: Service Tax |

Stepwise Procedure for Private Placement of Debentures

As I have already discussed the provisions relating to Debentures in my earlier article series. In this article I will share the complete process of issue of debenture under Companies Act 2013. Work required to done before calling of Meeting: Identify the person to whom you will issue Debentures. Prepare the list of such persons t...

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Posted Under: Service Tax |

Enactment of Concept of Corporate Governance

orporate governance is the application of best management practices, compliance of law in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders....

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Posted Under: Service Tax |

Provisions Relating to Transfer of Shares to Non- Resident

Transfer of Shares: The price as applicable to transfer of shares from resident to non-resident as per the pricing guidelines laid down by the Reserve Bank from time to time, where the issue of shares is on preferential allotment Retention of Amount in Foreign Currency Account : Indian companies which are eligible to issue shares [&hellip...

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Posted Under: Service Tax |

All about Allotment of shares to Foreign Investor under FDI Regime

The capital instruments should be issued within 180 days from the date of receipt of the inward remittance received through normal banking channels including escrow account opened and maintained for the purpose or by debit to the NRE/FCNR (B) account of the non-resident investor. ...

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Posted Under: Service Tax |
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