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Government clarifies in-built security features of Electoral Bonds

Random Serial Number, invisible to the naked eye, present on the Bond not linked to any party transaction or cannot be used for tracking the transactions SBI does not share the serial number with anybody, including the Government and users...

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Posted Under: Corporate Law |

Banks to collect passport details in case of loan of Rs. 50 crore & above

In addition, with a view to enable banks to inform relevant authorities of passport details, if need arises, Government has advised all Public Sector Banks to obtain a certified copy of the passport of the promoters/directors and other authorised signatories of companies availing of loan facilities of Rs. 50 crore and above. ...

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Posted Under: Corporate Law |

Enhancement of Gratuity Limit with effect from 29/03/2018

The Government has issued Notification the same day wherein gratuity limit has been increased from Rs.10 lakhs to Rs.20 lakhs under the Payment of Gratuity Act, 1972....

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Posted Under: Corporate Law |

Process to be followed for registration as Registered Valuer with IBBI

With an objective to familiarize the eligible and desirous individuals and entities with the process of registration as a valuer with the Insolvency and Bankruptcy Board (IBBI) , the IBBI today released the process required....

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Posted Under: Corporate Law |

Report of Insolvency Law Committee- March 2018 with key recommendations

Report by the Insolvency Law Committee is a sincere attempt to encourage sustainable growth of the credit market in India, while safeguarding interests of various stakeholders. The key recommendations in this Report are as follows:...

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Posted Under: Corporate Law |

Rendering of Valuation Services without Registration Certificate

Rule 11 of the Rules provides for transitional arrangement that any person, who may be rendering valuation services under the Companies Act, 2013 on the date of commencement of the Rules, may continue to render valuation services without a certificate of registration under the Rules up to 31st March, 2018...

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Posted Under: Corporate Law |

Suggest on regulation of fee payable to insolvency professional: IBBI

Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper today on regulation of fee payable to insolvency professionals (IPs) and other process costs under Corporate Insolvency Resolution Process (CIRP). The discussion paper is available at www.ibbi.gov.in....

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Posted Under: Corporate Law |

IBBI commences valuation examinations

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA PRESS RELEASE 30th March, 2018 Insolvency and Bankruptcy Board of India commences valuation examinations The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th October, 2017. It also notified the Companies (Registered V...

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Posted Under: Corporate Law |

Payment of Gratuity (Amendment) Act, 2018 brought in force on 29th March, 2018

Decision:The Payment of Gratuity (Amendment) Bill, 2018 has been passed by Lok Sabha on 15th March, 2018 and by the Rajya Sabha on 22nd March, 2018, has been brought in force on 29th March, 2018. Background: The Payment of Gratuity Act, 1972 applies to establishments employing 10 or more persons.  The main purpose for enacting […]...

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Posted Under: Corporate Law |

IBBI amends Insolvency Resolution & Liquidation Process Regulations

IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016...

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Posted Under: Corporate Law |
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