ROC Bangalore found a violation of Section 12 after a statutory notice could not be served at the companys registered office. The company and its directors admitted the default and accepted the penalties.
The ROC Bangalore penalised a company and its directors after finding that the next Board Meeting was convened 87 days beyond the statutory limit under Section 173(1). The company had voluntarily admitted the default through a suo motu application.
The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs. It aims to promote innovation while maintaining regulatory oversight.
The IBBI imposed a two-year suspension after finding that the insolvency professional failed to disclose a financial transaction involving an entity linked to a prospective resolution applicant during the CIRP.
The RBI has amended concentration risk management norms requiring banks to set internal limits for real estate exposure. The directions also prescribe a prudential cap on REIT exposures.
RBI has issued draft amendment directions to harmonise governance standards for risk management, compliance, and internal audit functions. The proposals aim to enhance accountability, independence, and board oversight across regulated entities.
The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investment was made during the assessment year in question. Documentary evidence showing the transaction belonged to an earlier year remained uncontroverted.
The address highlights how Aadhaar, UPI, eNPS, and other digital tools are transforming pension enrolment and service delivery. It emphasizes technology’s role in achieving broader retirement security coverage.
The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in response to the increasing backlog of tax litigation. The initiative focuses on faster hearings, reduced delays, and coordinated efforts by all stakeholders to ensure expeditious resolution of long-pending appeals.
RBI has withdrawn key investment restrictions applicable to FPIs investing in Government Securities under the General Route. The amendment is aimed at improving ease of investment and attracting greater foreign participation.
