"12 March 2021" Archive - Page 2

Misrepresentation and Warranty Distinguished

We know that an insurance policy is a contract between an insured and the insurer. The contract of insurance is based on good faith between parties and it will be assumed that parties to the contract make true and full representation of conditions of his/her health to the insured. The full and true representation by […]...

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Posted Under: Corporate Law |

 Provisions for Right Issue of Shares under the Companies Act 2013

When a company expands it requires additional funds. One of the many ways to raise additional capital for a listed company is rights issue of shares. If a company issues shares to the public at large, it may affect the voting rights of the existing shareholders of the company. So in order to avoid this […]...

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Posted Under: Corporate Law |

SEBI (Annual Report) Rules, 2021

G.S.R. 176(E)/ [F. No. 2/8/2019-RE] 12/03/2021

(1) These rules may be called the Securities and Exchange Board of India (Annual Report) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette....

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GST TRAN-1 Form Revision application rejection without hearing arguments was unjustified

R.P. Foam Pvt. Ltd. Vs Union of India (Allahabad High Court)

R.P. Foam Pvt. Ltd. Vs Union of India (Allahabad High Court) In view of the submissions made at the bar and on perusal of the order dated 22.1.2020, it is clear that the rejection of the application is based upon the understanding that the GST TRAN-1 could not be filed on account of technical glitch […]...

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Cut-off date for conversion from Earlier Scheme for CA Students

Students who wish to convert themselves from Earlier Scheme to Revised Scheme of Education and Training implemented w.e.f. 1st July 2017 to appear in Foundation, Intermediate and Final Examinations being held under Revised Scheme in May/June 2021 are required to convert themselves latest by 5th April 2021....

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Posted Under: Corporate Law |

NBFC Registration Process & Cost for Different Types of Entities

NBFC Registration Process and Cost for Different Types of Entities As per Section 45-IA of the RBI Act, 1934, no Non-banking Financial Company can commence or carry on the business of a non-banking financial institution without a) obtaining a certificate of registration from the Bank and without having a Net Owned Funds of Rs. 25 [&hellip...

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Posted Under: Corporate Law |

Withholding of tax on payment made to YouTube creators by Google

Recently, the search engine giant Google announced that it would begin deducting United States of America (USA) taxes from payments to YouTube creators as early as June 2021 from creators outside of the USA. Earnings from viewers in the USA through ad views, YouTube Premium, Super Chat, Super Stickers, and Channel Memberships will be taxa...

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Posted Under: Corporate Law |

Private Limited Company Incorporation Procedure

A Private Limited Company can be incorporated with a minimum of 2 directors (DIN) and a maximum of 20 directors (DIN) and has a minimum of two stockholders and a maximum of 200 stockholders. Owners of the company have limited liability to creditors. In case of a default, banks/creditors can sell only company property but […]...

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Posted Under: Corporate Law |

Doctrine of Mutuality – Calcutta Club Case

This Topic covers Chronological Sequence on the subject matter from British Regime to Indian regime including highlights on famous case laws and the need for 46th constitutional amendment in 1982, Synopsis on the case of Calcutta Club Ltd, Discussion on Issue in Service Tax Perspective (Pre or Post Negative List),Position under GST Regime...

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Posted Under: Corporate Law |

Why Advance Ruling Concept

Purpose of advance ruling is to minimise disputes by providing clarity on confusing matters so it tries to avoid litigation in future. If you see name i.e. advance ruling, this name itself signifies that ruling in advance or decision in advance. You must be aware that few items (petroleum and petroleum products (like petrol, HSD […...

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Posted Under: Corporate Law |

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