The government expands the deferred duty payment scheme by adding manufacturer importers as an eligible class. The key takeaway is a cash-flow relief through deferred customs duty payments until 31 March 2028.
The authority held that inability to produce Board and AGM minutes constitutes non-compliance despite historical flood damage. Fixed penalties were upheld as mandatory under the Act.
The Registrar imposed penalties for failure to file Form MGT-7 within the prescribed time. The order reiterates strict compliance with annual return filing requirements despite concessional treatment for eligible entities.
The authority ruled that carbon pultruded plates are not carbon fibre under the amended exemption notification and therefore cannot claim concessional duty as raw materials, clarifying the limited scope of the revised entry.
The amendment revises eligibility and experience criteria for key personnel in fund management entities, allowing greater flexibility for professionally qualified candidates. The key takeaway is wider access to talent without diluting regulatory oversight.
Reserve Bank of India has issued draft guidelines to streamline loan resolution and relief measures for borrowers affected by natural calamities across banks, NBFCs, and financial institutions. The framework introduces a principle-based approach, special resolution windows, and continued ‘standard’ asset classification, with implementation proposed from April 1, 2026.
Penalties were levied after directors’ DINs were found deactivated for non-compliance with Rule 12A. The key takeaway is that even procedural defaults invite statutory penalties.
ROC imposed penalty for failure to file mandatory DIR-3 KYC, leading to DIN deactivation. The order reinforces strict compliance with director KYC requirements to avoid maximum penalties.
The regulator has proposed a structured framework for how IFSC Banking Units may participate in remote booking arrangements. The key takeaway is tighter governance, transparency, and limits on retail and corporate loan bookings.
The government has notified a statutory local authority for income-tax exemption under Section 10(46A). The key takeaway is that qualifying development authorities can claim tax relief from AY 2024–25 if statutory conditions are met.
