"20 March 2020" Archive - Page 3

Web form CAR- Board meetings with physical presence of directors relaxed -MCA

D.O. No. Secy(MCA)/COVID-19/1/2020 (19/03/2020)

Government in the Ministry of Corporate Affairs has relaxed the rules with respect to meetings of Board and dispensed with the necessity of holding physical meetings on matters relating to approval of financial statement, board report, restructuring etc. upto 30th June, 2020. We are also examining any other relaxations under the Companies...

Read More

Educational Course and Continuing Education under Companies (Registered Valuers and Valuation) Rules, 2017

No. IBBI/RVO/032/2020 (20/03/2020)

Clause (a) of sub-rule (2) of rule 12 of the Companies (Registered Values and Valuation) Rules, 2017 requires that a Registered Valuer Organisation (RVO) shall conduct educational courses in valuation, in accordance with the syllabus determined by the Authority for its valuer members....

Read More

Pre-registration Educational Course under the IBBI (Insolvency Professional) Regulations, 2016

No. IBBI/IPA/031/2020 (20/03/2020)

Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 ADVISORY No. IBBI/IPA/031/2020 20th March, 2020 To All Registered Insolvency Professional Agencies (IPAs) (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, Subject: Pre-registration Educational Course unde...

Read More

IBBI imposes Penalty of Rs. 1 Lakh on IP for non-compliance of law

No. IBBI/DC/20/2020 (20/03/2020)

In this matter, the DC observes that Mr. Tarun Jaggi, while acting as a Liquidator displayed a negligent attitude during the conduct of voluntary liquidation process which can be elaborated as below: a) He failed to publish the public announcement in the newspapers within the time prescribed under regulation 14(1) of Voluntary Liquidation...

Read More

Notification No. 23/2020-Customs (N.T./CAA/DRI), Dated: 20.03.2020

Notification No. 23/2020-Customs (N.T./CAA/DRI) / S.O. 1191(E) (20/03/2020)

Appointment of CAA by DGRI – Notification No. 23/2020-Customs (N.T./CAA/DRI), Dated: 20.03.2020 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 23/2020-Customs (N.T./CAA/DRI) New Delhi, dated the 20.03.2020 S.O. 1191(E). ...

Read More

Notification No. 22/2020-Customs (N.T./CAA/DRI), Dated: 20.03.2020

Notification No. 22/2020-Customs (N.T./CAA/DRI) [S.O. 1190(E)] (20/03/2020)

Appointment of CAA by DGRI – Notification No. 22/2020-Customs (N.T./CAA/DRI), Dated: 20.03.2020 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 22/2020-Customs (N.T./CAA/DRI)  New Delhi, dated 20.03.2020 S.O. 1190(E)R...

Read More

CBIC notifies Rate of Exchange of Foreign Currencies wef 21.03.2020

Notification No. 28/2020 - Customs (N.T.) (20/03/2020)

Exchange Rates Notification No. 28/2020-Custom (NT) dated 20.03.2020 Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 21st March, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) **** Notification No. 28/2020 – Customs (N.T.) New Delhi, dated ...

Read More

Addition for bogus purchase only to the extent of lower GP declared

Omkar Metal & Alloys Corporation Vs ITO (ITAT Mumbai)

Addition in case of bogus purchases was required to be made only to the extent of lower GP declared by assessee on bogus purchases as compared to G.P. on normal purchases. Thus, no addition was warranted in case of assessee as GROSS PROFIT declared by assessee in respect of alleged bogus purchases was more than the GROSS PROFIT declared i...

Read More

LLP (Relaxation in Additional Fee) Scheme 2020

MCA vide its General circular No. 6/2020 dated 4th Day of March 2020 notify this scheme and this scheme would remain into force for a period of 3 months i.e. from 16th March 2020 to 13th June 2020. The objective of this scheme is to provide the one time relaxation in additional fees for filing […]...

Read More
Posted Under: Company Law |

Condonation of INC-28 for NCLT order under IBC

MCA vide its General Circular No. 08/2020 dated 6th march 2020 mandated the filing of NCLT order for CIRP or Liquidation process under the IBC 2016. This circular provides for the mandatorily filing of INC-28 for NCLT order to Registrar of Companies on the part of IRP (Interim Resolution Professional) or RP (Resolution Professional). Furt...

Read More
Posted Under: Company Law |