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Section 215 of the IBC, 2016 is not mandatory: HC

August 18, 2020 3768 Views 0 comment Print

Univalue Projects Pvt. Ltd. Vs Union of India & Ors. (Calcutta High Court) a) The NCLT has acted without jurisdiction and exceeded its jurisdiction that is limited within the four corners of Section 424 of the CA, 2013 by passing the impugned order in violation of Section 7(3)(a) of the IBC, 2016. Furthermore, the impugned […]

Draft framework for recognition of a Self-Regulatory Organisation for Payment System Operators

August 18, 2020 483 Views 0 comment Print

Reserve Bank hereby places a draft framework for grant of recognition to an industry association as a Self-Regulatory Organisation (SRO) for Payment System Operators (PSOs).

Streamlining of UQCs in Bills of Entry and Shipping Bills – reg

August 18, 2020 3738 Views 0 comment Print

Board had undertaken an exercise towards standardization of Unit Quantity Codes (UQCs) for purposes of export / import declarations filed on EDI. It was noted that many importers and exporters use UQCs like BGS, BTL, BOX, CTN, GGR, HPT, KPC, ODD and DRM etc.

Govt relaxes Export Policy of textile raw material for masks & coveralls

August 18, 2020 693 Views 0 comment Print

The Notification No. 18 dated 13.07.2020 is amended to the extent that only melt blown fabric of any GSM exported against the HS codes specified above is prohibited for export. All other non-woven fabrics of any GSM (including of GSM 25-70 which were earlier prohibited) are freely allowed for exports. Government of India Ministry of […]

Loss Prevention & Minimization in General Insurance Industry- Report

August 18, 2020 1158 Views 0 comment Print

Keeping in view synergies involved and the need for collaboration between various stakeholders for effective loss prevention and minimization in the general insurance industry, the Authority had set up a Working Group to study the current scenario and make recommendations.

SOP for settlement of Postal/Rural Postal Life Insurance death claim cases

August 18, 2020 26358 Views 0 comment Print

Standard Operating Procedure (SOP) for settlement of Postal Life Insurance/ Rural Postal Life Insurance (PLI/RPLI) death claim cases. DIRECTORATE OF POSTAL LIFE INSURANCE Department of Posts, Ministry of Communications, Government of Indio Chanakyapuri Post Office Complex, New Delhi-110021 No. 25-04/SOP/2020-LI Dated: 18.08.02020 Sub: Standard Operating Procedure (SOP) for settlement of PLI/RPLI death claim cases. As […]

Downloading document-wise details of Table 8A of Form GSTR-9

August 18, 2020 33483 Views 3 comments Print

1. A facility has been provided to the taxpayers to download document wise details of Table 8A of Form GSTR-9, from the portal in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year 2018-19 onwards. This will help […]

Competent authority can order provisional release of goods, pending confiscation proceedings: HC

August 18, 2020 852 Views 0 comment Print

Pending the confiscation proceedings, if the writ applicants file an application under Section 67(6) of the Act for provisional release of the goods and the vehicle, if any, then the competent authority shall look into the same at the earliest and pass an appropriate order on such application within a period of fifteen days from the date of receipt of such application.

CBI arrests a CGST superintendent from Rohtak in a bribery case

August 17, 2020 1428 Views 0 comment Print

CBI had registered a case U/s 120-B of IPC and Section 7 of PC Act, 1988 (as amended in the year 2018) against two Superintendents and two Inspectors, working in the office of Commissioner of CGST, Rohtak (Haryana) on a complaint.

Appointment of BSR as statutory auditor of IFIN for 2017-18 was illegal: NFRA

August 17, 2020 1476 Views 0 comment Print

The appointment of BSR as the statutory auditor of IL&FS Financial Services Ltd. (IFIN) for the year 2017-18 was illegal, since BSR was not eligible to be appointed as such auditor due to violation of Sec 141(3)(e) (subsisting business relationships on the date of appointment) and Sec 141(3)(i) (provision of non-audit services directly or indirectly) of the Companies Act, 2013. BSR’s continuation as such statutory auditor was also violative of Sec 141(4).

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