ROC Goa imposed penalties after finding violations of AS-09 and AS-15 reflected in the auditor’s report for FY 2021-22. The order held that failure to ensure proper compliance in the Directors’ Responsibility Statement attracted independent liability under Section 134(5A).
RBI sets new framework for agency commission, reporting, and monitoring of agency banks. Key takeaway: stricter compliance and standardized processes now mandatory.
The tribunal recalled its earlier order after finding it addressed an incorrect issue. It ultimately upheld that no disallowance applies when no expense is claimed.
RBI now requires NBFCs to factor in calamity risks while assessing borrower creditworthiness. The move strengthens risk-sensitive lending and improves financial resilience.
RBI replaces outdated disaster relief directions with a comprehensive framework for RRBs. Existing actions remain valid while new norms take effect from July 2026.
A new framework standardizes how NBFCs resolve borrower stress caused by disasters. It ensures timely, structured, and transparent relief measures.
Local Area Banks can operate from temporary premises and deploy mobile units during calamities. The move ensures uninterrupted banking access for affected customers.
Borrower accounts can retain or regain standard classification after resolution. The amendment supports relief while maintaining prudential norms.
NBFCs can retain or upgrade borrower accounts to standard upon resolution plan implementation. The amendment balances borrower relief with prudential safeguards.
The issue was whether buyback of shares attracts GST. It was held that since shares are securities excluded from GST, buyback is not taxable, though related services remain taxable with ITC eligibility.
