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Archive: 03 June 2022

Posts in 03 June 2022

SEBI amends Investor Grievance Redressal Mechanism Circular

June 3, 2022 1350 Views 0 comment Print

For any dispute between the member and the client relating to or arising out of the transactions in Stock Exchange, which is of civil nature, the complainant/ member shall first refer the complaint to the IGRC and/ or to arbitration mechanism provided by the Stock Exchange before resorting to other remedies available under any other law.

Annual & other meetings of unitholders of REITs and InvITs – Extension

June 3, 2022 384 Views 0 comment Print

Extension of facility for conducting annual meeting and other meetings of unitholders of REITs and InvITs through Video Conferencing (VC) or through Other Audio-Visual means (OAVM)

IRDAI eases capital requirement under PMJJBY

June 3, 2022 180 Views 0 comment Print

IRDAI has reduced the capital required to be held by insurers offering PMJJBY, by almost 50%. This move will enable life insurers to offer more policies under the scheme, and provide financial security to bottom of the pyramid of Indian population, through life insurance.

Clarification regarding Form No 10AC issued till the date of this Circular

June 3, 2022 15702 Views 0 comment Print

PCIT or CIT can examine if there is any specified violation by the trust or institution registered or provisionally registered under relevant clauses of sub-section (1) of section 12AB or sub¬section (1) of section 12AA.

IBBI suspends registration of IP for violating the procedure under IBC 2016

June 3, 2022 867 Views 0 comment Print

Though it has been argued that monetary appropriation of fee by Mr. Khandelia is not significant, nevertheless, in case a lenient view is taken in the instant case, then it shall be sending a wrong message to the market that one can get away even with serious charge of violating the set procedure under the […]

IBBI celebrates ‘Azadi ka Amrit Mahotsav’

June 3, 2022 600 Views 0 comment Print

Azadi Ka Amrit Mahotsav (AKAM) is an initiative of the Government of India to celebrate and commemorate 75 years of progressive India and the glorious history of its people, culture and achievements.

Awareness on Upgradation of Registered users in V2 to Business User in V3 MCA 21

June 3, 2022 663 Views 0 comment Print

Ministry of Corporate Affairs has migrated to a new version – Version 3 of the MCA portal. All users have to be registered as Business Users to be able to submit forms on MCA Portal (except for Run LLP and Fillip forms which can be submitted by Registered Users).

Default of payment of settlement agreement is not an Operational debt

June 3, 2022 3381 Views 0 comment Print

NCLT held that default of payment of settlement agreement do not come under definition of Operational debt under IBC 2016

Can Default Bail be denied on filing of additional complaint subsequent to filing of Bail Application?

June 3, 2022 5088 Views 0 comment Print

M. Ravindran Vs Intelligence Officer (Supreme Court of India) Can Default Bail be denied on filing of additional complaint subsequent to filing of Bail Application? In common legal parlance, the right to bail under the Proviso to Section 167(2) of the Code of Criminal Procedure, 1973 (‘CrPC’) is commonly referred to as ‘default bail’ or […]

Distinction in Interpretation of General Exemption Notification & exemption provisions having a beneficial purpose

June 3, 2022 1206 Views 0 comment Print

Explore the nuanced interpretation of exemption notifications in tax statutes by the Hon’ble Supreme Court, emphasizing the distinction between general exemptions and those with a beneficial purpose. The case analysis involves the eligibility of buildings used for religious or educational purposes, shedding light on the pivotal role of user, dominant object, and the broader scope of ‘used principally for.

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June 2022