ROC Chennai held that despite a 930-day delay in filing Form MGT-7A, no penalty would be imposed as the company filed the return before the adjudication notice was issued.
The ROC Chennai penalized a company and its directors for failing to file a board resolution within 30 days as required under Section 117. Although the form was filed after 125 days, reduced penalties were granted because the company qualified as a Small Company.
ROC Chennai held that although the annual return was filed 95 days late, no penalty was imposed because the company rectified the default before the adjudication notice, attracting relief under Section 454(2).
CGST authorities arrested a company director after detecting fraudulent Input Tax Credit claims based on bogus invoices worth ₹397.23 crore. Investigation revealed that the supplier entity operated only from a co-working space with no genuine business activity.
PFRDA issued a circular revising PoP charges under NPS after reclassifying corporates into Government Entities and Legal Entities. A 0.20% annual charge on AUM will apply to legal entities.
RBI’s 2026 amendment clarifies the computation of Owned Funds and specifies that Tier 1 capital for concentration norms must be determined using the latest audited or reviewed financial statements.
RBI’s 2026 amendment allows Core Investment Companies to include audited quarterly profits in Owned Funds, subject to dividend adjustments and statutory auditor review.
The Income Tax Department conducted surveys across multiple cities after AI analysis revealed significant discrepancies between transactional data and reported income. The exercise uncovered preliminary sales suppression of about ₹408 crore.
RBI amended the Housing Finance Companies Directions, 2026 to clarify how Owned Fund should be calculated. The amendment allows inclusion of audited quarterly profits subject to dividend adjustments and auditor review.
The amendment explains how quarterly profits, dividend adjustments, and current-year losses must be treated in owned fund calculations.
