"29 June 2016" Archive

Clarification on Validity & Renewal of Registration under FCRA, 2010

F.No.II/21022/36/0207)/2015-FCRA-II 29/06/2016

As notified vide order dated 29 March, 2016, the validity of the registration certificates of all associations whose registration certificates are expiring on or before 30th September, 2016 was extended upto 31st October, 2016. Time for applying for renewal of registration certificate of such applicants was also extended upto 30th June, 2...

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Highlights of recommendations of 7th Central Pay Commission

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the implementation of the recommendations of 7th Central Pay Commission (CPC) on pay and pensionary benefits. It will come into effect from 01.01.2016....

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Posted Under: Corporate Law |

Criteria for listing of matters before National Company Law Tribunal

Order No. 25/1/2016-NCLT 29/06/2016

Consequent to the notification no. S.O. 1935 (E) dated 1.6.2016 issued by the Central Government, Ministry of Company Affairs following criteria has been laid down for listing of the matters before the National Company Law Tribunal, Principal Bench and National Company Law Tribunal, New Delhi Bench....

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Amendment in rules for acceptance of Deposit by Companies

G.S.R. 639(E) 29/06/2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Corporate Affairs Notification. New Delhi, dated, the 29th June, 2016 G.S.R. 639(E). – In exercise of the powers conferred by sections 73 and 76 read with sub­section (1) of section 469 of the Companies Act,...

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ICAI President's Message July 2016

I wish all of you a very happy CA Day. All arrangements have been made to celebrate the legacy of the Indian accountancy profession with great enthusiasm in the form of flag hoisting and events that enhance and impart knowledge to the professional fraternity. Indian accountancy profession that had started its journey with a vision has bee...

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Posted Under: Corporate Law |

Clarification regarding grandfathering of ODI issuers

Circular No. CIR/IMD/FPI&C/61/2016 29/06/2016

ODIs have been issued to unregulated funds under the FII Regulations. Whether these ODI positions can continue under the FPI regime? Whether the existing ODI subscribers can continue to subscribe to ODIs?...

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Highlights of draft Model Shops and Establishments Bill, 2016

• It will cover only establishments employing ten or more workers except manufacturing units. • The Bill provides for freedom to operate 365 days in a year and opening/closing time of establishment. • Women to be permitted during night shift, if the provision of shelter, rest room ladies toilet, adequate protection of their dignity ...

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Posted Under: Corporate Law |

Survey claims Attitudinal change in CBEC senior functionaries

Tax payers Survey got conducted by Central Board of Excise & Customs (CBEC) for garnering a feedback on impact that reforms undertaken during the last two years; Responses showed that 45% of the respondents saw an attitudinal change in senior functionaries (Commissioner level and above); and 51% acknowledged an improvement at the ground l...

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Posted Under: Corporate Law |

Procedure to authorise for export to Iran of specified items in SCOMET list

Public Notice No. 19/2015-2020-DGFT 29/06/2016

Authorization for export of items in Categories 0, 3 (other than 3D), 4, 5 and 7 of the SCOMET list to Iran would be subject to the relevant provisions contained in Annex B to the UN Security Council resolution 2231 (2015). The licensing authority, i.e. DGFT or Department of Atomic Energy...

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Validity of SCN issued by Preventive, DGDRI & DGCEI officers: Reg

F.No.276/104/2016-CX.8A (Pt.) 29/06/2016

Amendment in Section 28 (11) of the Customs Act, 1962 was brought out by the Government, after the decision of Supreme Court in Commissioner of Customs vs Sayed Ali (2011) 3 SCC 537, wherein it was held that Customs Preventive Officers are not proper officers to issue Show Cause Notice u/ s 28 of Customs Act, 1962. ...

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