CBIC extended the validity of multiple customs circulars issued under Section 143AA until 30 June 2026 because of ongoing maritime disruptions caused by the closure of the Strait of Hormuz.
The Registrar of Companies found that the company remained without a whole-time Company Secretary from 2014 to 2020 in violation of mandatory legal requirements. Penalties were imposed on both the company and directors under Section 203(5).
The Registrar of Companies held that non-filing of financial statements by the due date constituted a contravention of Section 137(1) of the Companies Act. Monetary penalties were imposed on both the company and officers in default.
The adjudication proceedings began after the Ministry of Corporate Affairs rejected the company’s NDH-4 application due to non-compliance with financial statement filing requirements. The ROC subsequently imposed penalties for delayed filing.
ROC Chennai held that delayed filing of Form MGT-14 for Board resolutions approving accounts constituted non-compliance under Section 117(1). Monetary penalties were imposed on both the company and officers in default.
ROC Chennai penalised a company and its directors for non-filing of Form MGT-7 for FY 2022-23, holding the default violated Section 92(4) of the Companies Act.
SEBI’s consultation paper proposes mandatory disclosures for refinancing of municipal debt, including lender details, repayment schedules and past restructuring history to improve investor transparency.
The regulator has proposed capping penalties for position limit breaches in commodity derivatives, stating that excessive penalties may discourage market participation and risk management.
The consultation paper proposes allowing OBPPs to offer products regulated by IFSCA. It aligns with broader efforts to enhance cross-border investment opportunities. The proposal also ensures compliance with foreign exchange rules.
The consultation paper issued by Securities and Exchange Board of India seeks public comments on a draft circular proposing to extend the benefit of early pay-in (EPI) in the commodity derivatives segment to options contracts, in addition to its current applicability to futures contracts. Under the existing framework prescribed in the SEBI Master Circular dated […]
