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Archive: 25 July 2019

Posts in 25 July 2019

ESOP by a Private Limited Company

July 25, 2019 45564 Views 1 comment Print

Employee Stock Option Plan (ESOP) is the option provided to employees to purchase the shares of the company at a future date at a pre-determined price. ESOPs give the employee a right to purchase the share, but not an obligation, to buy a certain amount of shares in the company at a predetermined price for […]

Companies (Amendment) Bill, 2019

July 25, 2019 3810 Views 0 comment Print

AS INTRODUCED IN LOK SABHA Bill No. 189 of 2019 THE COMPANIES (AMENDMENT) BILL, 2019 A BILL further to amend the Companies Act, 2013. BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:— 1. Short title and commencement. (1) This Act may be called the Companies (Amendment) Act, […]

Partnership Registration

July 25, 2019 37041 Views 4 comments Print

ABOUT PARTNERSHIP When a group of individuals known as partner, decide to set up the business and form a relationship to share the profits of the business carried on by all or any one of them acting for all, they form a partnership amongst them which is governed and regulated by agreement formed between them. […]

Achievement of Goal of US$ 5 Trillion Economy

July 25, 2019 387 Views 0 comment Print

The Economic Survey 2018-19 and the Union Budget 2019-20 have indicated the government’s goal of making India a US$ 5 trillion economy by 2024-25. To achieve this goal, the economy needs to grow at high and robust rate.

Resolve Technical issues in Form BEN-2- ICSI request MCA

July 25, 2019 1110 Views 0 comment Print

SBO rules are not applicable to the extent the share of the reporting company is held by its holding reporting company under Rules 8 (b) of the Companies (Significant Beneficial owners) Rules, 2018. However, in such cases, the subsidiary company has to report the details of such holding reporting company Form No. BEN-2.

Timeline of Turns and Twists in Essar Steel’s Insolvency Case

July 25, 2019 5445 Views 0 comment Print

As per the statutory requirement of Insolvency and Bankruptcy Code, 2016, a resolution plan for bankrupt Essar Steel was to be found within 270 days, but here even after 500 days, there seems to be no end in sight as a consortium of lenders led by State Bank of India has filed a petition before the Supreme Court […]

Whether the Preference shares are the Equity or Debt

July 25, 2019 36549 Views 2 comments Print

What are preference shares – Debt or Equity ?  The Reserve Bank imposed a penalty of ₹2 crore on Kotak Mahindra Bank on 7th June 2019, for not complying with its directions regarding dilution of promoters’ shareholding in the company. As per RBI’s banking licensing norms, a private bank’s promoter holding has to be brought down to […]

MEIS Benefit Available For Exports In Nepal And Bhutan

July 25, 2019 16950 Views 1 comment Print

It has been a much debated topic that whether export benefits are available for exports to Nepal/Bhutan where payments are realized in INR. We have tried to explain the situation as under with the legal aspects as involve: WITH REFERENCE TO FOREIGN TRADE POLICY (2015-20) Exports of notified goods/products with ITC[HS] code, to notified markets […]

Convertible Foreign Exchange

July 25, 2019 25182 Views 1 comment Print

What is CONVERTIBLE FOREIGN EXCHANGE (CFE)? Convertible Foreign Exchange means foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Management Act, 1999 (42 of 1999), and any rules made there under. Foreign Exchange Management (Manner of Receipt and […]

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July 2019