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NFRA introduces audit quality inspections

November 14, 2022 2937 Views 0 comment Print

The National Financial Reporting Authority (NFRA) has published its audit quality inspection guidelines  as a step towards  further  improving the quality of audit profession. The inspection guidelines are on the lines of the best practices followed by International Audit Regulators. In fact, Audit quality inspections are integral to the functioning of independent audit regulators, world-wide. […]

Rajasthan VAT: SOP for outstanding demands created against firms who have not made any sale and/or purchase of goods

November 12, 2022 1647 Views 0 comment Print

Rajasthan VAT Standard Operating Procedure (SOP) for outstanding demands created against such person (firms) who have not made any sale and / or purchase of goods

Consultation paper on protection of public equity shareholders in case of listed companies undergoing CIRP

November 11, 2022 1911 Views 0 comment Print

Consultation Paper Framework for protection of interest of public equity shareholders in case of listed companies undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC)

Applicability of GST on fees remitted to SEBI – Reg.

November 10, 2022 2961 Views 0 comment Print

Applicability of GST on fees remitted to SEBI – Revision in Chapter – XX of Operational Circular for issue and listing of Non-convertible Securities,  Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and  Commercial Paper

IBBI penalises IP for conducting CIRP & Liquidation proceeding in a very casual & careless manner

November 10, 2022 1254 Views 0 comment Print

From the aforesaid discussion, DC finds that Ms. Sonu Jain was conducting CIRP and Liquidation proceeding in a very casual and careless manner which is not at all expected from an Insolvency Professional. Ms. Jain was not only casual in keeping the records of the proceeding and submitting the same to IA, but she was […]

No CS was willing to join hospital after Covid-19 pandemic – Penalty reduced

November 10, 2022 1134 Views 0 comment Print

After the Covid-19 pandemic no Company Secretary from far of places shown interest to come and join in a hospital business as the company is engaged in Covid-19 pandemic related treatment. Authorised representative requested to waive the penalty as no mens rea could be proved on the part of the Company and its officers in charge.

SEBI (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2022

November 9, 2022 2643 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2022.

SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2022

November 9, 2022 2082 Views 0 comment Print

The sponsor(s) and sponsor group(s) shall collectively hold a minimum of fifteen percent of the total units of the REIT for a period of at least three years from the date of listing of such units pursuant to initial offer on a post-issue basis:

Govt permits  Invoicing, payment & settlement of exports and imports in INR for Export Proceeds under EPCG Scheme

November 9, 2022 2835 Views 0 comment Print

Amendment in Para 5.11 of the HBP are notified, to permit the Invoicing, payment and settlement of exports and imports in INR for Export Proceeds under EPCG Scheme, in sync with RBI’s A.P. (DIR Series) Circular No. 10 dated 11th July, 2022. This shall come into force with immediate effect. Government of India Ministry of […]

Peer Review Mandate – Phase II Roll Out

November 9, 2022 1899 Views 0 comment Print

(a) statutory audit of unlisted public companies having paid-up capital of not less than rupees five hundred crores or having annual turnover of not less than rupees one thousand crores or having, in aggregate, outstanding loans, debentures and deposits of not less than rupees five hundred crores as on the 31st March of immediately preceding financial year or (b) attestation services and having 5 or more partners

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