The ROC penalized the company for not appointing an Independent Director from the IICA databank. The ruling highlights strict compliance requirements under Section 150(1) of the Companies Act.
The notification confirms continuation of RoDTEP with unchanged rates and caps. Exporters benefit from continuity and predictability in incentives.
The RBI clarifies which entities must file FLA returns and outlines the complete online filing process. The key takeaway is mandatory compliance for entities with foreign assets or liabilities.
The authority penalized the company for failing to ensure minutes were signed by the Chairman as required. It held that deviation from prescribed procedure violates statutory compliance norms.
Banks must now report detailed capital market exposures including investments, advances, and underwriting commitments. The amendment aligns disclosures with updated credit norms.
The RBI has updated its guidelines to permit acquisition and bridge finance for promoter stakes in new companies. This move enhances flexibility in corporate financing structures.
CBIC has extended transitional provisions under SCMTR till 30 June 2026 due to incomplete system development and testing. Stakeholders must ensure accurate electronic filings during this extended period.
The CBDT has replaced Form ITR-7 through the Seventh Amendment Rules, 2026, effective 31 March 2026. The update ensures revised compliance and reporting requirements for entities filing ITR-7.
The authority held that financial statements adopted before audit are invalid under the Companies Act. It ruled that failure to file proper statements attracts penalty under Section 137.
The authority imposed penalties as the company failed to maintain a functional registered office for receiving notices. It held that non-receipt of statutory communications constitutes a continuing default under the law.
