The MCA introduced a streamlined process for updating registered email IDs of companies and LLPs. The update ensures seamless receipt of regulatory notices and improves data accuracy across the MCA21 portal.
Supreme Court held that initiation of administrative proceedings for disciplinary action against air force pilot not justifiable since criminal court already discharged the officer on the same charges. Also held that discharge is at a higher pedestal than an acquittal.
The clarification confirms that Small Companies remain exempt from Rule 9A even after obtaining an ISIN. Compliance obligations arise only when the law mandates, not due to voluntary actions.
The issue involves failure in DIR-3 KYC filing due to DSC mismatch. MCA clarified that proper DSC registration with DIN is mandatory to complete compliance successfully.
Supreme Court held that negligence on part of bank in presentation of cheque within the validity period of cheque leads to ‘deficiency in service’ under the Consumer Protection Act. Accordingly, compensation entitled to be awarded to the consumer.
The reform replaces dividend-based taxation with capital gains to ensure only real income is taxed. It removes the distortion of taxing full buyback proceeds without cost deduction.
The authority held that securities cannot be allotted before dematerialising directors’ shareholding. A penalty was imposed despite subsequent rectification.
The authority penalized the company for issuing shares below the valuer-determined price, even though the shortfall was later recovered with interest. Rectification did not absolve the initial violation.
Delay in filing return of allotment under Section 42 resulted in penalties. However, reduced penalties were granted due to startup status under Section 446B.
The authority penalized premature utilization of funds raised through private placement in violation of Section 42(4). The ruling highlights that funds cannot be used before allotment and filing compliance requirements.
