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Archive: June, 2021

Posts in June, 2021

IBBI invites application for Chairperson Post in IBBI under IBC 2016

June 10, 2021 867 Views 0 comment Print

ADVERTISEMENT Subject:- Invitation of application for the post of Chairperson in the Insolvency and Bankruptcy Board of India established under the Insolvency and Bankruptcy Code, 2016. 1. Applications are invited for the post of Chairperson in the Insolvency and Bankruptcy Board of India, a statutory body established under the Insolvency and Bankruptcy Code (IBC), 2016. […]

Availment of credit of taxes paid by Lessee not affects liability of registered taxpayer to pay taxes

June 10, 2021 924 Views 1 comment Print

Allied Engineers & Builders Pvt. Ltd. Vs Muthoot Finance Limited & Anr. (Delhi High Court) In our view, the present petition is misconceived. Apparently, Petitioner has not received the entire amount against the monthly rent invoices for the period commencing from November 2012 to June 2020. Petitioner contends that the outstanding amount is towards the […]

Ineligibility attaches at the time when the Resolution Plan is submitted by Resolution Applicant

June 10, 2021 2853 Views 0 comment Print

Martin S.K. Golla Vs Wig Associates Pvt. Ltd. (NCLAT) The Resolution Plan of Mr. Wig who was undisputedly a related party, was accepted on 20.04.2018 in the 4th COC (Annexure – 16 – Page 248). Section 29A hits the eligibility of the persons to submit a Resolution Plan if a person falls in any of […]

ICSI allows One More Attempt under 2012 Old Syllabus

June 10, 2021 1437 Views 0 comment Print

The Institute Of Company Secretaries Of India ATTENTION STUDENTS OF EXECUTIVE AND PROFESSIONAL PROGRAMME (2012 OLD SYLLABUS) The Institute has decided that the students of Executive and Professional Programme (2012 old syllabus) shall be allowed one more attempt during the December, 2021 session of examinations. Accordingly, three Elective subjects of Professional Programme (New Syllabus) such as […]

Amendment in Rule 38A of Companies (Incorporation) Rules, 2014

June 10, 2021 5280 Views 0 comment Print

Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 10th June, 2021 ANNOUNCEMENT Sub: Amendment in Rule 38A of the Companies (Incorporation) Rules, 2014 This is to inform you that the Ministry of Corporate Affairs, as part of its Ease of Doing Business (EODB) initiatives has amended the Rule 38A of […]

Usage of Automated Teller Machines / Cash Recycler Machines – Review of Interchange Fee and Customer Charges

June 10, 2021 1359 Views 0 comment Print

The Reserve Bank of India had constituted a Committee in June 2019 under the Chairmanship of the Chief Executive, Indian Banks’ Association to review the entire gamut of Automated Teller Machine (ATM) charges and fees with particular focus on interchange structure for ATM transactions.

Framework for enabling Ancillary services at IFSC

June 10, 2021 2832 Views 0 comment Print

The entity may be set up in the IFSC in the form of a company or a limited liability partnership or a registered partnership firm, their branch thereof or any other form as may be approved by the IFSCA;

SEBI (Delisting of Equity Shares) Regulations, 2021

June 10, 2021 22491 Views 0 comment Print

These regulations shall be called the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021. They shall come into force on the date of their publication in the Official Gazette.

Facts already disclosed in return cannot constitute incriminating material found during search

June 9, 2021 1779 Views 0 comment Print

ACIT Vs CMG Steels Pvt. Ltd. (ITAT Chennai) Facts already disclosed in return of income cannot constitute incriminating material found during search. Also held cross examination importance when requested without which addition becomes invalid In the present case, on perusal of facts available on record, we find that the AO has made additions towards unsecured […]

XBRL Returns Applicability to ND-NSI Category of NBFCs

June 9, 2021 43263 Views 6 comments Print

Brief Overview of XBRL Returns Applicability to the Non Deposit taking – Non Systematically Important Category of Non Banking Financial Companies (NBFCs) & other Important Provisions thereof XBRL stands for eXtensible Business Reporting Language. It is a language for the electronic communication of business and financial data which is revolutionising the business reporting around the […]

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