Consequent to the Budget proposal for the year 2013-2014 and the recent amendments to the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 (Rules), Securities and Exchange Board of India (SEBI) has rationalised the KYC norms for entry of FPIs (vide their circular MIRSD/07/2013 dated September 12, 2013).
Prior approval of RBI is required in case of any takeover/acquisition of shares of an NBFC; or merger/amalgamation of an NBFC with another entity; or any merger/amalgamation of an entity with an NBFC, that would give the acquirer/ another entity control of the NBFC, or would result in acquisition/transfer of shareholding in excess of 10 percent of the paid up capital of the NBFC.
Accordingly, it is advised that urban cooperative banks will not be permitted to charge foreclosure charges/ pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect
In this modern, competitive and challenging work life, one have to have monomaniacal focus on his craft to keep you in the game. In this age of massive disruption, around your work and personal life, staying focused may be a not be an easy proposition for all.
Before we start the discussion, let us see what the Companies Act, 2013 has to say about this concept called ‘One person company’. Section 2(62) ‘one person company’ means a company which has only one person as a member. Section2 (40) ‘Financial statement ‘in relation to a company, includes:
Many new facets came in front of Indian economy after the result of the General Elections, 2014. After 30 years the history has repeated it again. This kind of historic win was once witnessed in 1984, where Indians had put Rajiv Gandhi on the throne to take India to new heights. The winning numbers were […]
Subsection(1) of section 14A provides that for the purpose of computing total income under chapter IV of the Act, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under the Act.
May 6’ 2014 was a day which should create fear of the worst by the Indian Nationals who have shrouded their black money at the Swiss. It was at this day when Switzerland has signed for mutual cooperation in tax matters at the convention.
Entrepreneurs are leaders who can see into the future with inspired vision, championing highly competent teams to make seemingly impossible possible.It takes a great courage to separate oneself from the herd at any level, be it at the time of attaining education or doing things you love. There is no point in being REALISTIC- why […]
Power to remove directors have always been bestowed on shareholders, as we all know, that at the end of the day, directors are answerable to shareholders. Nothing has changed in the procedural aspect under Companies Act, 2013 as well. Shareholders can remove any director before the expiry of his tenure, except any director appointed by […]
