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Archive: 22 June 2016

Posts in 22 June 2016

Reg. Withdrawal of appeals by Department before CESTAT/HC

June 22, 2016 2002 Views 0 comment Print

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.

Cabinet approves amendment in DTAA with Belgium

June 22, 2016 1012 Views 0 comment Print

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.

Resolving Stress in the Banking System

June 22, 2016 985 Views 0 comment Print

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 and needs to be taken to its logical conclusion.

Draft Guidelines for Capital for CCR and Exposure to CCPs

June 22, 2016 1411 Views 0 comment Print

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 being used by banks for measuring exposure for counterparty credit risk arising from derivative transactions and will be implemented from April 1, 2017.

Debentures Under Companies Act 2013- Legal Analysis

June 22, 2016 103612 Views 5 comments Print

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 rate payable usually either half-yearly or yearly on fixed dates.

Statutory provisions related to Debenture Trustees

June 22, 2016 7861 Views 0 comment Print

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 condition, […]

Stepwise Procedure for Private Placement of Debentures

June 22, 2016 79513 Views 1 comment Print

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 to whom offer to subscribe debenture will give. Prepare Draft offer letter under PAS-4. Identify the debenture trustee (in case of offer for subscription is for more than 500 persons). If there is requirement to appoint Debenture Trustee, then obtain the consent of such debenture trustee. Ask the details from the Bank to open separate Bank Account.

Enactment of Concept of Corporate Governance

June 22, 2016 3613 Views 0 comment Print

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.

Provisions Relating to Transfer of Shares to Non- Resident

June 22, 2016 112921 Views 5 comments Print

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 […]

All about Allotment of shares to Foreign Investor under FDI Regime

June 22, 2016 17401 Views 2 comments Print

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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