"18 May 2021" Archive

CS Executive Entrance Test May 2021 result on 20.05.2021

The Result of CS Executive Entrance Test (CSEET)held on 8th and 10thMay, 2021 would be declared on Thursday, the 20thMay, 2021at 3:00 PM. The result along with individual candidate’s subject-wise break-up of marks will be made available on the Institute’s website: www.icsi.edu  ...

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Posted Under: CA, CS, CMA |

Procedure of accepting deposits from Members under Companies Act, 2013 in brief

 Section 73 – 76 of Companies Act, 2013 r/w Rules as per Chapter V of Companies Act, 2013 governs the mechanism related to invitation and acceptance of deposits. Section 2(31) of the Companies Act of 2013 defines ‘deposit’ to include any receipt of money by way of deposit or loan or in any other form […]...

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Posted Under: CA, CS, CMA |

Maintenance of Books of Accounts: Section 128 | Companies Act, 2013

Maintenance of Books of Accounts is one of the Mandatory compliances that every company needs to follow irrespective of its nature whether its a private limited, public limited, OPC, or LLP, each of these entities requires obeying Section 128 of the Companies Act, 2013 mandatorily....

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Posted Under: CA, CS, CMA |

Policvbazaar penalised for sending SMS in Violation of IRDAI norms

Notification No. IRDA/INT/MISC/ORD/140/05/2021 18/05/2021

Regulation 9 of IRDA (Insurance Advertisements and Disclosure) Regulation, 2000 stipulates that every advertisement for insurance shall state the full registered name of the insurer/ intermediary/ insurance agent. Policybazaar did not disclose their name in the SMS sent to policyholders....

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E Way Bill & Vehicle Tracking Module By NIC

We are pleased to inform you that e-Way Bill system is successfully integrated with FasTag and RFID, and details of commercial vehicle movements through the state and national highway tolls are received into e-Waybill system on a near real time basis. On an average 25 Lakh goods vehicle movements from more than 800 tolls are […]...

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Posted Under: CA, CS, CMA |

E-Compendium of CESTAT Case Laws – Pro – Revenue

This is the fourth year since the introduction of GST in July, 2017. Despite a sizeable liquidation of appeals under the Sabka Vishwas (Legacy Dispute Resolution) (SVLDR) Scheme, we still find more than 40,000 appeals of Central Excise and Service Tax pending at CESTAT and inflow of such appeals at the Honble Tribunal has not much dwindle...

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Posted Under: CA, CS, CMA |

Alteration of Share Capital vs. Reduction of Share Capital under Companies Act, 2013

1. Alteration is much wider term than Reduction, since Alteration may be increase or decrease or cancellation in share capital, but Reduction is a much restricted phenomena wherein the only consequence that needs to be achieved here is overall decrease in Share Capital. 2. As per Section 61 of Companies Act of 2013, there are […]...

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Posted Under: CA, CS, CMA |

Punishable with Fine Vs Liable to Penalty under companies Act, 2013

Clarification regarding the confusion between the words Punishable with Fine and Liable to Penalty There is always confusion between the word fine and penalty So,Let us first understand the basic meaning of Fine and Penalty and the difference, if any, between the two. Definition of Fine As per the definition provided in Oxford Dictionary:...

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Posted Under: CA, CS, CMA |

Registration of Entities for Undertaking CSR Activities/ Funding

In order to have better Corporate Governance and Compliance, one-time registration in a simple E-Form CSR-1 is mandatory applicable to all the Registered Societies, Registered Trusts and Registered Section 8 Companies and other entities who is engaged in CSR (Corporate Social Responsibility) activities/ funding. Through this article, the ...

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Posted Under: CA, CS, CMA |

Procedure for consolidating Company’s Share Capital in brief

Present herewith is the Procedure for Consolidation of Share Capital in a brief and concise manner after having gone through the relevant sections as well as concerned Rules under Companies Act of 2013 attached with allied Rules. 1. The company must firstly need to keep this thing in mind that its articles of association contain […...

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Posted Under: CA, CS, CMA |

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