Every person having a definite cultural economic educational religious or social program shall accept Foreign Contribution only after obtaining a certificate of registration from the central government and there are two modes for obtaining permission to accept foreign contribution under FCRA let us discuss the same i. Registration ii. Pri...
Read MoreLet us learn the achievements of RBI during the pandemic, its noble goals of alignment with the long-term objective of streamlining regulatory and supervisory framework across regulated/supervised entities to maintain conformity among global practices. RBI while harnessing technology for customer services, undertook fraud detection and co...
Read MoreForeign Liabilities and Assets (FLA) is an Annual Return which is to be submitted by all those Indian Resident Companies which have received Foreign Direct investment (FDI) and/or made Investment Overseas (FDI Abroad) in previous year(s) which shall also include information of the current year. This return needs to be filed by July 15 eve...
Read MoreForeign companies incorporating private limited company for executing a limited period contract in India and face lots of legal compliances from starting to closing of the company which wastes lots of time and recourses of the company. In order to make entry and exit easy for a foreign company who wants to execute a project […]...
Read MoreBy publishing on July 16, 2021, Reserve Bank of India, had amply made it clear that The Reserve Bank’s communication policy follows the guiding principles of relevance, transparency, clarity, comprehensiveness and timeliness: it strives to continuously improve public understanding of developments in the multiple domains under its ambit....
Read MoreMumbai BJP Professional Cell has written a letter to Shri Amit Shah Ji and requested to lookint0 Drastic changes made in FCRA and related rules relating to Charitable and Religious Trusts (Trusts/NGOs) are not proper and causing undue hardship to NGOs. Mumbai BJP Professional Cell Dated- 29th May, 2021 To, Shri Amit Shah Ji, Honorable [...
Read MoreRepresentation to the Reserve Bank of India on Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) RBI/2021-22/25 – Ref. No. DoS. CO.ARG/SEC.01/08.91.001/2021-22 Dated April 27, 2021 About us Bombay Chartered Accountants’ So...
Read MoreBJP MP Suresh Prabhu has Wrote a letter to Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs regarding concerns of the MSMEs faced due to the second wave of Covid-19 pandemic and requested a positive policy response to enable the small business to tide over the crisis caused by the pandemic and protect […]...
Read MoreExtension of Validity of Registration Certificates issued under The Foreign Contribution (Regulation) Act, (FCRA) 2010 Expiring/Expired during period between 29.09.2020 and 30.09.2021 The Ministry of Home Affairs (MHA) has extended the validity of registration certificates issued under the Foreign Contribution (Regulation) Act, 2010 which...
Read MoreFEMA UPDATE > Temporary relaxation in time period of realisation of Export Proceeds- – The Government of India as well as the Reserve Bank has been receiving representations from Exporters Trade bodies to extend the period of realisation of export proceeds in view of the outbreak of pandemic COVID- 19. – It has, therefore, ...
Read MoreRajgaria Timber Private Limited And Others Vs State Bank Of India And Others (Calcutta High Court) - The moot question raised in the writ petition is, whether the writ petitioners are entitled to an extension of the usance period of the Letter of Credit Facility sanctioned to the writ petitioners from 180 days to 270 days....
Read MoreSuman Chattopadhyay Vs Republic of India (Orissa High Court) - High Court had refused to grant anticipatory bail to assessee-journalists who being accused of cheating depositors through Ponzi schemes as assessee had been indicted in an economic offence which was of serious in nature and the larger angle of conspiracy with regard to patronage of political and o...
Read MoreJ P Morgan India Private Limited Vs Special Director, Directorate of Enforcement and Anr. (Delhi High Court) - J P Morgan India Private Limited Vs Special Director, Directorate of Enforcement and Anr. (Delhi High Court) Brief: Offence under FEMA – Distinction between the two stages of the adjudication process – eligible reasons by the respondent no. 1 for the formation of opinion to proceed with ...
Read MoreState Bank of India Vs Assistant Commissioner (ST) (Madras High Court) - State Bank of India Vs Assistant Commissioner (ST) (Madras High Court) Whether the Financial Institution, which is a secured creditor, or the department of the government concerned, would have the ‘Priority of Charge’ over the mortgaged property in question, with regard to the tax and ot...
Read MoreBanka Bullion Private Limited Vs Assistant Director & Ors. (Calcutta High Court) - Banka Bullion Private Limited Vs Assistant Director & Ors. (Calcutta High Court) With regard to the search and seizure of the excess jewellery that has been seized by the Enforcement Directorate, it is to be noted that in the writ petition, the petitioner has relied on several documents to indic...
Read MoreNotification No. RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 - (23/07/2021) - On a review, it has been decided that For personal loans granted to any director of other banks, the threshold of Rupees twenty-five lakh, as mentioned in para 2.2.1.2, stands revised to Rupees five crore....
Read MoreRBI/DOR/2021-22/80 DOR.No.RET.REC.32/12.01.001/2021-22 - (20/07/2021) - (a) These Directions shall be called the Reserve Bank of India Directions, - 2021 on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). (b) These Directions shall come into effect on the day these are placed on the official website of the Reserve Bank of India....
Read MorePress Release: 2021-2022/527 - (14/07/2021) - RBI has released today, the Draft Circular on ‘Issue and regulation of share capital and securities - Primary (Urban) Co-operative Banks’. Comments on the Draft Circular are invited from UCBs, sector participants and other interested parties by August 31, 2021....
Read MorePress Release No. 2021-2022/530 - (14/07/2021) - RBI has today imposed restrictions on Mastercar md Asia / Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021....
Read MorePress Release: 2021-2022/518 - (12/07/2021) - As part of continuing efforts to increase retail participation in government securities, ‘the RBI Retail Direct’ facility was announced in the Statement of Developmental and Regulatory Policies dated February 05, 2021 for improving ease of access by retail investors through online access to the ...
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Notification No. RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 - 23/07/2021
RBI/DOR/2021-22/80 DOR.No.RET.REC.32/12.01.001/2021-22 - 20/07/2021