"11 May 2021" Archive

GST: Need for A Serious Midterm Correction- Letter to FM by Badal

I have been particularly persuaded to write this letter because there has been no meeting of the GST Council for the last six months even though Council's own Rules drafted in terms of Article 279A of the Constitution provide for holding at least one meeting every quarter....

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LLP Compliance’s & Their Due Dates For Financial Year 2020-21

general circular No 06/2021 03/05/2021

LLP Compliance & their Due Dates For Financial Year 2020-21 Under LLP Act 2008 MCA vide its general circular No 06/2021 dated 3rd May 2021 has been decided to grant additional time for filling of certain forms without any additional fee, which were/would be due for filling between 1st April 2021 to 31st May 2021, under the comp...

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Analysis of Corporate Social Responsibility (CSR) Rules

Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interest of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, and other stakeholders as well as the environment. Nowadays’ companies adopt CSR for various benefits like: 1...

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Regulatory framework of promoter, promoter group & group companies under SEBI (ICDR), Regulations

Securities and Exchange Board of India Consultation Paper on ‘Review of the regulatory framework of promoter, promoter group and group companies as per Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018‘ I. Objective 1) The objective of this consultation paper is to seek com...

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Relief to Poor as Charitable Purpose

Section 2(15) of the Income Tax Act, 1961, explain about ‘Charitable Purpose’ Which purposes are to be considered as Charitable Purpose? It includes the following; -Relief of the poor, -Education, ( Yoga ), -Medical Relief, -Preservation of environment ( including watersheds, forest and wildlife), -Preservation of monuments or...

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Trade Mark granted to a person can be given to another one dealing in a different class of goods/services: Kerala HC

Kunhi Muhammed Etayattil Vs. the Assistant Registrar of Companies &

A Trade Mark granted to a person can be given to another one dealing in a different class of goods/services – High Court of Kerala The Hon’ble High Court of Kerala in Kunhi Muhammed Etayattil Vs. the Assistant Registrar of Companies & Anr (WP [C] No. 3057 of 2021 dated: 07.04.2021) held that it is […]...

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Interplay between ‘CSR’ and ‘Sustainable Development’

Thus, CSR is one of the primary means of achieving the goal of sustainable development for all nations today. The Brundtland report highlighted three key components of sustainable development, environment and economy and society. A number of important sustainable development proposals have also been highlighted and SD and CSR initiatives ...

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Exercise of ESOPs by CEO/MD/WTDs of Insurance company

Ref. No:IRDA/F&I/MISC/CIR/134/05/2021 11/05/2021

In case the shares of the insurance company are offered as ESOPs to Managing Director / Chief Executive Officer / Whole Time Directors, then: i. If the CEO/MD/WTDs is one of the promoters / investors or directly related to the promoters, then the same will be governed by the provisions of SEBI (Issue of Sweat Equity) Regulations, 2002 as...

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Procedure for Surrender of Director Identification Number (DIN)

Pursuant to section 153 of the Companies Act, 2013 and rule 11 of the Companies (Appointment and Qualification of Directors) Rules, 2014 Article explains Why to Surrender DIN, Occasions in Which Surrender of DIN is Required (Reasons of Surrender), Which DIN is to be retained & Surrender, Procedure of Surrender of DIN and Attachments w...

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Belated refund applications can be filled legally in light of SC order’s on extension of period of limitation

Belated refund applications can be filled legally in light of SC order’s on extension of period of limitation Vide sou motu order dated 23.03.2020, Hon’ble Apex court of India extended the period of limitation for ‘CERTAIN’ proceedings w.e.f. 15th March 2020 till further orders. The sunset clause to this sine die order was...

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