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Penalty Imposed for Failure to Appoint Independent Director from IICA Databank

April 1, 2026 174 Views 0 comment Print

The issue involved non-compliance with Section 150(1) due to improper appointment of an independent director. The authority held the company and officer liable, emphasizing mandatory selection from the IICA databank.

DGFT Extends MIP on Virgin Paper Board Imports till April 30, 2026

March 31, 2026 780 Views 0 comment Print

The notification prolongs MIP on Virgin Multi-layer Paper Board imports until 30 April 2026. It reinforces regulatory control over import pricing and stabilizes domestic market conditions.

Customs Duty Exemption Allowed for SEZ Units Due to Production Cut-Off Compliance

March 31, 2026 1503 Views 0 comment Print

The notification grants customs duty relief to SEZ units clearing goods to DTA, provided production began before 31 March 2025. It clarifies eligibility conditions, exclusions, and compliance requirements for availing the benefit.

Mauritius 6th Tranche Customs FTA notification

March 31, 2026 318 Views 0 comment Print

The government amended the earlier notification by replacing Table 1 with a revised duty structure. This change impacts applicable customs rates and compliance requirements for specified goods.

UAE 5th Tranche FTA Customs Notification

March 31, 2026 345 Views 0 comment Print

The government amended the earlier notification by replacing Table I, II, and III with updated duty structures. The change impacts applicable rates and conditions for specified goods under customs law.

Penalty Imposed Due to Failure to File DIR-12 for Director Resignation

March 31, 2026 405 Views 0 comment Print

ROC imposed penalties for not filing DIR-12 to record director resignation. The ruling highlights strict compliance requirements for maintaining statutory records under the Companies Act.

ICSI Seeks Change in Effective Date for Conversion of private company into public company

March 31, 2026 330 Views 0 comment Print

The issue concerns ambiguity in the effective date of company conversion. It highlights that conversion should be valid only after Registrar approval to avoid legal uncertainty.

ICSI Urges RDs/ROCs to Process E-Filings Without Physical Documents

March 31, 2026 282 Views 0 comment Print

The issue concerns rejection of applications despite proper e-filing. It highlights that insisting on physical documents contradicts digital compliance laws and delays corporate processes.

Request to exempt companies from RD approval for Same-State Office Shift: ICSI

March 31, 2026 264 Views 0 comment Print

The issue concerns additional approval requirements for shifting registered offices within the same state. It highlights that administrative restructuring has unnecessarily increased compliance burden, calling for exemption.

Penalty Invalid Without Proper Notice Service Under Companies Act: ICSI

March 31, 2026 408 Views 0 comment Print

The issue concerns whether penalties can be imposed when notices are returned undelivered. It was emphasized that without proper service and verification, proceedings are invalid and violate natural justice.

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