In view of the resurgence of the Covid-19 pandemic in 2021 and recognising the difficulties it may pose for the borrowers in meeting the operational parameters, it has been decided to defer the target date for meeting the specified thresholds in respect of the four operational parameters, viz. Total Debt / EBIDTA, Current Ratio, DSCR and ADSCR, to October 1, 2022.
Om Logistics Limited & Anr. Vs M/s Ryder India Pvt. Ltd. (National Company Law Tribunal) In case the Sole Member/ Operational Creditor of the CoC was not interested in pursuing the CIR Process, the appropriate course could have been to file a withdrawal application under Section 12A of IBC, 2016. In the case Operational Creditor […]
1. The companies will be allowed to provide share based employee benefits to employees, who are exclusively working for such company or any of its group companies including its subsidiary or its associate. 2. The companies will have flexibility in switching the administration of their schemes from the trust route to the direct route and vice versa with the approval of the shareholders, subject to the condition that the switch is not prejudicial to the interest of the employees.
ITO Vs Shri Udaykumar D. Bhatt (ITAT Ahmedabad) Section 271(1)(c) cast responsibility upon the AO to reach the clear finding with respect to levy of penalty under the specific charge and if the AO fails to do so then the penalty cannot be levied as such penalty order shall not be maintainable in the eyes […]
Taxation Laws (Amendment) Bill, 2021 is introduced in Lok Sabha on 05th August 2021. Bill is further to amend the Income-tax Act, 1961 and the Finance Act, 2012. Bill will benefit Vodafone, Cairn UK who are having capital Gain Tax Disputes. The Bill proposes to amend the Income-tax Act, 1961 so as to provide that […]
There is restriction under the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 for a registered IA to charge any implementation fees from its clients, at IA’s group or family level. Further, as per the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, the lAs cannot receive any consideration, by whatever […]
Central Universities (Amendment) Bill, 2021 is introduced in lok Sabha on 05/08/2021. The Central Universities (Amendment) Bill, 2021 seeks to amend the Central Universities Act, 2009 inter alia to provide for the establishment of a University in the name of ‘Sindhu Central University’ in the Union territory of Ladakh. AS INTRODUCED IN LOK SABHA Bill […]
In continuation to Public Notice 34/2015-2020 dated 24.12.2020, it is stated that in case of amalgamation/de-merger/acquisition/insolvency the export obligation(s)/contingent liability(s) are required to be transferred from the earlier entity to the new entity as required under the related laws and rules on the amalgamation/de-merger/acquisition/insolvency process.
IASB document issued for comments: Initial Application of IFRS 17 and IFRS 9 – Comparative Information Proposed amendment to IFRS 17 Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents […]
Government is committed for promoting Indian exports in international markets and suitable interventions are done from time to time. The key schemes/interventions taken are:
