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Archive: 26 February 2021

Posts in 26 February 2021

Tariff Notification No. 25/2021-Customs (N.T.), Dated: 26.02.2021

February 26, 2021 1260 Views 0 comment Print

Tariff Notification No. 25/2021-Customs (N.T.), Dated: 26.02.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver – reg. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 25/2021-CUSTOMS (N.T.) New Delhi, 26th February, 2021 S.O. 937 […]

SEBI extends facility to conduct meetings of REITs & InvITs unitholders through VC or OAVM

February 26, 2021 708 Views 0 comment Print

It has been decided to extend the facility to conduct meetings of unitholders, through VC or OAVM for REITs/InvITs, as under: a. Annual meetings of unitholders in terms of Regulation 22(3) of SEBI (Real Estate Investment Trusts) Regulations, 2014 and Regulation 22(3)(a) of SEBI (Infrastructure Investment Trusts) Regulations, 2014, (which becomes due in the calendar year 2021) to be conducted till December 31, 2021.

SOP for physical of cases before NCLT

February 26, 2021 1068 Views 0 comment Print

NCLT issues present Standard Operating Procedure (SOP) for physical hearing, as well as continuation of virtual hearing as per order dated 23.2.20201 which shall come into force w.e.f. 1.3.2021. The SOP is applicable to all NCLT Benches.

Introduction of Concept of “Accredited Investors” in Indian securities market

February 26, 2021 1881 Views 0 comment Print

The objective of Consultation Paper on Introduction of concept of Accredited Investors in Indian securities market is to seek comments from the public and various stakeholders of the securities market, on the proposal to introduce the concept of Accredited Investors in the Indian securities market.

Related Party Transactions- A note

February 26, 2021 28512 Views 1 comment Print

Introduction A company, in the course of conduct of its business, enters into various transactions with different parties, including its related parties. Companies also carry on their activities through subsidiary companies and associate companies. Accordingly, related party relationships are a normal feature of business. Due to this relationship, related parties may enter into transactions that […]

Show Cause Notice Under GST Act 2017 – An Analysis

February 26, 2021 67317 Views 0 comment Print

1. Issue of show cause notice for giving sufficient and meaningful opportunity of hearing , is the essential precondition for every adjudication proceeding . In fact show cause notice is statutory requirement which should be complied with to satisfy principle of natural justice. It is foundation of matter of levy of tax , interest and […]

CBI Arrests an Assistant Commissioner and a Superintendent, both of Customs

February 26, 2021 1683 Views 0 comment Print

The Central Bureau of Investigation has arrested an Assistant Commissioner and a Superintendent, both of Customs Department, Mumbai in an alleged bribery case.

UK Court allows Extradition of Nirav Modi

February 26, 2021 687 Views 0 comment Print

The Westminster Magistrates’ Court, London(UK) has today accepted the contention of Govt of India to extradite Mr.Nirav Modi. The U.K.Court delivered the verdict wherein it held that the evidence against Mr.Nirav Modi is prima facie sufficient to order his extradition to India to face the charges.

Investment by FPI in Defaulted Bonds – Relaxations

February 26, 2021 612 Views 0 comment Print

Currently, FPI investments in corporate bonds are subject to a minimum residual maturity requirement, short-term investment limit (paragraph 4 (b)(ii)) and the investor limit (paragraph 4(f)(i)) in terms of the Directions.

Measures for Streamlining of Customs Post Clearance Audit work

February 26, 2021 804 Views 0 comment Print

Half yearly meetings of customs Audit Commissionerate shall be convened by the ADG, DG (Audit), Mumbai to discuss the conduct of TBA. The meeting may deliberate upon topics such as including local risk parameters in the selection of BE/SB for TBA, increase or decrease in  the total number of bills selected for Audit, and the progress/pendency of TBA etc. All the officers are directed to provide their inputs for the said meeting within stipulated lime frame.

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