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Archive: 07 December 2021

Posts in 07 December 2021

Credit Card Businesses In India

December 7, 2021 8886 Views 5 comments Print

Introduction : I had begun my Professional career in UAE where the culture and business of credit card is quite robust with deep market penetrations, there are both advantages and disadvantages of owning a credit card and the success lies in judicious use of the same, off late I am seeing a positive uptick in […]

Penalty u/s 114AA not imposable for genuine mistake of issuing wrong invoice for filing BOE

December 7, 2021 5019 Views 0 comment Print

I have to conclude that it was a genuine mistake of issuing wrong invoice which has been used by the CHA to file the Bill of Entry. The wrong invoice of USD 23750 was not given by the appellant, but the same was collected by CHA from the shipping liner. The appellant cannot be implicated for such mistake by imposing penalty. Moreover, the penalty imposed under Section 114AA is attracted only when there is deliberate falsification of documents in order to get undue benefit.

Adjudication of correctness of CA’s report by Disciplinary committee of ICAI, no need once the report passed judicial scrutiny

December 7, 2021 2190 Views 0 comment Print

The court sanctioned the Scheme of Amalgamation vide judgement dated 26.03.2015 and it is apparent that the Court found no fault with or falsity in the report. Once the report passed the threshold of judicial scrutiny, there was no reason why the Disciplinary Committee of ICAI should have adjudicated the correctness or otherwise of the report.

Directors/managers can’t be prosecuted and punished merely because the Company violated the law

December 7, 2021 5526 Views 1 comment Print

SC held that a person cannot be prosecuted and punished merely because of their status or position as a director, manager, secretary or any other officer in a company unless the offence in question was committed with their consent or connivance or is attributable to any neglect on their part.

eForm RD GNL-5 – Form for filing Addendum for Rectification of Defects or Incompleteness

December 7, 2021 3960 Views 0 comment Print

Part I – Law(s) Governing the eForm RD GNL-5 Rule Number(s) eForm RD GNL-5 is required to be filed pursuant to Rule 40 and 41 of the Companies (Incorporation) Rules, 2014 which are reproduced for your reference. Rule 40: Application under sub-section (41) of section 2 for change in financial year (1) The application for […]

eForm RD-1 – Applications made to Regional Director

December 7, 2021 19014 Views 0 comment Print

Part I – Law(s) Governing the eForm RD-1 Section and Rule Number(s) eForm RD-1 is required to be filed pursuant to Section 16 of the Companies Act, 2013 and Rule 40 and Rule 41 of the Companies (Incorporation) Rules, 2014 Purpose of the eForm A company can seek approval from Regional Director by filing application […]

eForm ADJ – Filing of Memorandum of Appeal

December 7, 2021 1965 Views 0 comment Print

 e-Form ADJ – Memorandum of Appeal Part I – Law(s) Governing the eForm ADJ Section and Rule Number(s) eForm ADJ is required to be filed pursuant to section 454(5) of the Companies Act, 2013 and Rule 4(1) of Companies(Adjudication of Penalties) Rules, 2014 which is reproduced for your reference. Section 454: (1) The Central Government […]

All about filing of eForm INC-23

December 7, 2021 12963 Views 0 comment Print

Application to Regional Director for approval to shift the Registered Office from one state to another state or from jurisdiction of one Registrar to another Registrar within the same State Part I – Law(s) Governing the eForm Section and Rule Number(s) eForm INC-23 is required to be filed pursuant to Section 12(5) & 13(4) of […]

RBI retains Advisory Committee of Reliance Capital Ltd

December 7, 2021 384 Views 0 comment Print

e Reserve Bank had, on November 30, 2021, constituted a three-member Advisory Committee to assist Shri Nageswara Rao Y, Administrator of Reliance Capital Ltd (RCL) in discharge of his duties.

साख सहकारी समितियों पर आरबीआई तब जागी जब चिड़िया चुग गई खेत 

December 7, 2021 1854 Views 0 comment Print

साख सहकारी समितियों का रजिस्ट्रेशन केन्द्र और राज्य स्तर पर गठित सहकारिता कानून के अन्तर्गत किया जाता है और इनके रजिस्ट्रेशन सर्टिफिकेट पर बकायदा सरकारी सील और विभागीय हस्ताक्षर और अनुमोदन होते हैं. लेकिन बहुत कम लोग ही जानते हैं या यह कहना भी उचित होगा कि लगभग न के बराबर लोगों को पता है […]

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