ROC Kolkata imposed penalties for failure to appoint the mandatory two Independent Directors within the prescribed timeline under Section 149. The order clarifies that delayed compliance after conversion into a public company invites monetary penalty under Section 172.
IRDAI has issued key clarifications allowing insurers to invest in AIFs using SEBI-compliant Excusal Rights, provided funds are not deployed overseas. The circular introduces strict documentation, audit, and certification safeguards under Section 27E.
In a case involving delayed filing of annual returns for FY 2013–14, the ROC declined to impose penalty under Section 454. The order clarified that pre-2018 defaults fall under the fine regime, not the penalty regime, leaving compounding as the appropriate remedy.
ICAI has introduced a mandatory registration framework for Global Networks between Indian CA entities and overseas firms. The Guidelines define compliance, ethical safeguards, reporting norms, and oversight mechanisms for cross-border professional collaboration.
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The RBI has proposed raising the aggregate ceiling on unsecured advances by Urban Co-operative Banks to 20% of total loans and advances. The draft also revises definitions, individual limits, and disclosure norms to strengthen risk management and transparency.
Parliament was informed that no antitrust or merger cases originated from Jammu and Kashmir during the year. The key takeaway is that enforcement activity in the region remained nil in 2025.
GST revenues climbed to over ₹20.5 lakh crore in 2024–25, though growth has moderated. The key takeaway is sustained expansion alongside a shift toward simpler rate structures.
The Government informed Parliament that GST thresholds remain as revised in 2019. Any further increase depends on a fresh recommendation from the GST Council, which has not been made.
The Government clarified that service charges are set under board-approved policies and RBI oversight, requiring transparency and reasonableness. No new caps are proposed, with reliance on supervision and prescribed free limits.
