"19 November 2019" Archive - Page 2

MCA notifies Department of Biotechnology (DBT) for CSR

Notification No. G.S.R. 859(E). (19/11/2019)

MCA further amends Schedule VII of the Companies Act, 2013 which relates to Activities which may be included by companies in their Corporate Social Responsibility Policies and included contribution to Department of Biotechnology (DBT) in Expenses under Section 135 of Companies Act, 2013. MINISTRY OF CORPORATE AFFAIRS CORRIGENDUM New Delhi...

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Incorrect Data in certain IECs – corrective action required from exporters

Trade Notice No. 39/2019-2020-DGFT (19/11/2019)

IEC holders as mentioned in the two Annexures of this Trade Notice are requested to take immediate steps to correct their IEC data before 15 December 2019, failing which these IECs will be suspended by the jurisdictional DGFT Regional Authority (RA)....

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RBI withdraws exemption granted to Housing Finance NBFCs

Notification No. DOR. 047/CGM (MM)-2019 (19/11/2019)

RBI withdraws the notification granting exemption to Non-Banking Financial Companies which are Housing Finance Institutions as defined in clause (d) of section 2 of the National Housing Bank Act, 1987 (Act 53 of 1987) from the provisions of Chapter IIIB of the Act, except its application to section 45-IA of the Act. RESERVE BANK OF [&hell...

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1821 cases filed by homebuyers against builders under IBC

1,821 cases filed by homebuyers against builders under the Insolvency and Bankruptcy Code As per the information received from National Company Law Tribunal (NCLT), total 1,821 cases filed by homebuyers against builders since June, 2018, under the Insolvency and Bankruptcy Code (IBC) 2016, were pending in NCLT on 30.09.2019. Data regardin...

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Posted Under: Company Law |

Technology a key game changer in Financial Services

Press Release No.: 23/2019 (19/11/2019)

Technology is a key game changer in financial services as it can not only provide fast and better services to the consumer, it can also be a catalyst in improving the ease of doing business, said Shri Ajay Tyagi, Chairman, SEBI while participating in a panel discussion on Technology in Financial Services at Singapore on November 16, 2019....

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Company Law Committee-2019 submits its report to Finance Minister

The Company Law Committee was constituted by the Ministry of Corporate Affairs in September, 2019, inter alia, to further decriminalise the provisions of the Companies Act, 2013 based on their gravity and to take other concomitant measures to provide further Ease of Living for corporates in the country....

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Posted Under: Company Law |

Guideline for Collection of margins from clients by TM/CM in cash segment

Circular No. CIR/HO/MIRSD/DOP/CIR/P/2019/139-SEBI (19/11/2019)

In cash segment, the VaR margin is collected by Clearing Corporation (CC) upfront from trading member/clearing member by adjusting against the available liquid assets of TM/CM at the time of trade. However, the quantum, form and mode of collection of the margin from the client is left to the discretion of TM/CM....

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Difference between Financial Assets, Financial liability and Equity as per INDAS 32

1. Definitions A. Financial Instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Followings do not affect the main characteristic of contract: May or may be in writing. May or may not be enforceable by law. Contract […...

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Posted Under: Company Law |

IRDAI (Health Insurance) (Amendment) Regulations, 2019

F. No. IRDAI/Reg/14/165/2019 (19/11/2019)

(1) These regulations may be called the Insurance Regulatory and Development Authority of India (Health Insurance) (Amendment) Regulations, 2019. (2) They shall come into force on the date of their publication in the Official Gazette....

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Utilisation of Input Tax Credit under GST

The provisions of Section 49 was amended and Section 49A and Section 49B were inserted vide Central Goods and Services Tax (Amendment) Act, 2018 [hereinafter referred to as the CGST (Amendment) Act] and came into effect from 1st February 2019. The amendment led to an of accumulation of input tax credit for SGST/UTGST in electronic [&helli...

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Posted Under: Company Law |

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