CA Kamal Garg

Signing of financial statements of Company under CIRP

Corporate Law - Corporate insolvency resolution process (CIRP) can be commenced when a corporate debtor commits a default – section 4(1) of Insolvency and Bankruptcy Code, 2016 (IBC). The default should be minimum Rs. one lakh. The amount can be increased by Central Government but shall not exceed Rs. one crore – proviso to section 4(1). &#...

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Ind AS Accounting for foregoing MAT Credit pursuant to Section 115BAA

Corporate Law - Consider a situation where RST Limited was a loss making company. Ind ASs were adopted by this company from the year 2016-17. Since FY 2014-15 it has started to profits it was having accumulated MAT credit of Rs. xyz crores lying in the books of accounts as on 31.03.2019....

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Tax on share premium received by closely held companies in excess of FMV

Corporate Law - Issues that need to be addressed under clause (viib) of sub-section (2) of section 56: Cut off time to examine the status of Company: The status of company at the time of receipt of consideration is relevant and not its status at the time of allotment of shares. Hence, if the company was not closely held company at the time of receipt of...

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Directors appointed by Central Government – what is their status !!!!

Corporate Law - The Supreme Court vide its Order on January 20, 2020, accepted the proposal of the Centre to take over the management control of embattled realty firm Unitech Limited. A bench headed by Justice D Y Chandrachud gave two months to the new board of Unitech to prepare the resolution framework of the company and sought […]...

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Searching new Maharaja for The Air India !!

Corporate Law - With an aim to create take off thrust for sale of ailing Air India, the Government on 27th January, 2020 (re)invited bids for a 100% stake in the company. The deal has now been sweetened after taking experience from the 2018 preliminary information memorandum (PIM) for inviting expression of interest for strategic disinvestment of Air [&h...

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Recent Posts in "CA Kamal Garg"

Signing of financial statements of Company under CIRP

Corporate insolvency resolution process (CIRP) can be commenced when a corporate debtor commits a default – section 4(1) of Insolvency and Bankruptcy Code, 2016 (IBC). The default should be minimum Rs. one lakh. The amount can be increased by Central Government but shall not exceed Rs. one crore – proviso to section 4(1). &#...

Read More
Posted Under: Corporate Law |

Ind AS Accounting for foregoing MAT Credit pursuant to Section 115BAA

Consider a situation where RST Limited was a loss making company. Ind ASs were adopted by this company from the year 2016-17. Since FY 2014-15 it has started to profits it was having accumulated MAT credit of Rs. xyz crores lying in the books of accounts as on 31.03.2019....

Read More
Posted Under: Corporate Law |

Tax on share premium received by closely held companies in excess of FMV

Issues that need to be addressed under clause (viib) of sub-section (2) of section 56: Cut off time to examine the status of Company: The status of company at the time of receipt of consideration is relevant and not its status at the time of allotment of shares. Hence, if the company was not closely held company at the time of receipt of...

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Posted Under: Corporate Law |

Directors appointed by Central Government – what is their status !!!!

The Supreme Court vide its Order on January 20, 2020, accepted the proposal of the Centre to take over the management control of embattled realty firm Unitech Limited. A bench headed by Justice D Y Chandrachud gave two months to the new board of Unitech to prepare the resolution framework of the company and sought […]...

Read More
Posted Under: Corporate Law |

Searching new Maharaja for The Air India !!

With an aim to create take off thrust for sale of ailing Air India, the Government on 27th January, 2020 (re)invited bids for a 100% stake in the company. The deal has now been sweetened after taking experience from the 2018 preliminary information memorandum (PIM) for inviting expression of interest for strategic disinvestment of Air [&h...

Read More
Posted Under: Corporate Law |

Dissenting Financial Creditors and Resolution Process under IBC

The resolution plan shall provide for the payment of debts of financial creditors, who do not vote in favour of the resolution plan, in such manner as may be specified by the Board, which shall not be less than the amount to be paid to such creditors in accordance with sub-section (1) of section 53 […]...

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Posted Under: Corporate Law |

Accounting for Business Combination pursuant to IBC, 2016

In terms of Regulation 37(c) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016, a resolution plan shall provide for the measures, as may be necessary, for insolvency resolution of the corporate debtor for maximization of value of its assets, including but not limited to...

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Posted Under: Corporate Law |

Board Meetings under Secretarial standard and Company Law

Section 118(10) of the Companies Act, 2013 mandated for every company to observe secretarial standards with respect to General and Board meetings specified by the Institute of Company Secretaries of India constituted under section 3 of the Company Secretaries Act, 1980, and approved as such by the Central Government....

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Posted Under: Corporate Law |

Valuation by registered valuers

The provisions about valuation by registered valuers are contained in Section 247 of Chapter XVII of the Companies Act, 2013. Section 247 has been made effective from 18th October, 2017 vide MCA Notification F.No.7/27/2013-CLV. Consequent to notification of section 247, MCA also notified the Companies (Registered Valuers and Valuation) Ru...

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Posted Under: Corporate Law |

Serious Fraud Investigation Office And arresting powers

Section 211 set forth the provision for the power of the Central Government to establish an office to be called the Serious Fraud Investigation Office to investigate frauds relating to a company. ...

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Posted Under: Corporate Law |

Evaluation Matrix, Fair Value and Liquidation – the new matrix of amendments under Corporate Insolvency Resolution Process

The Insolvency and Bankruptcy Board of India had made the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2018, effective from 6th February, 2018 (the 'Amendment Regulations, 2018)...

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Posted Under: Corporate Law |

The Forensics in Insolvency and Bankruptcy Code

Transactions specifically related to Sections 43 to 46 and Section 66 of the Insolvency and Bankruptcy Code, 2016 are being looked at by the forensic experts. These sections deal with identifying preferential and undervalued transactions, and those deliberately entered into to defraud creditors. ...

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Posted Under: Corporate Law |

Timelines in Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016

Part II of Insolvency and Bankruptcy Code, 2016 deals with insolvency resolution and liquidation for corporate persons. The actual work will be mostly handled by 'resolution professional' under supervision of NCLT...

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Posted Under: Corporate Law |

Practice Papers for CA Final Audit and Law November 2017 Examination

Download Practice Paper Advanced Auditing Mock Test November 2017 [Solved]. Download Practice Paper on Corporate and Allied Laws for November 2017 Examination [Solved]...

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Posted Under: Corporate Law |

GST Comprehensive Notes for CA/ CS/ CMA Final [November and December 2017 Examination]

GST Comprehensive Notes for CA/  CS/  CMA Final [November and December 2017 Examination] – Beginners’ Guide- By: CA Kamal Garg....

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Posted Under: Corporate Law |

Personal properties of promoters given as a “Security” to Banks – whether subjected to moratorium under Insolvency and Bankruptcy Code, 2016

CA Kamal Garg Personal properties of promoters given as a “Security” to the Banks – whether subjected to moratorium under Insolvency and Bankruptcy Code, 2016 Insolvency and Bankruptcy Code, 2016 has giving the debtor an opportunity of admitting his guilt by accepting the fact that default has occurred and he is ready t...

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Posted Under: Corporate Law |

Practice Pointer Queries and Solutions on GST

What will be the GST implication if a manufacturer were to deliver goods by road to the customers using his own vehicle and charges freight in his bill that freight will be part of value of goods and GST payable on total value at same rate as of goods ...

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Posted Under: Corporate Law |

Guide to Compounding of certain offences under Companies Act, 2013

NCLT/Regional Director can compound offences which are punishable with fine only. Offence can be compounded by Regional Director or person authorised by Central Government if maximum amount of fine that can be imposed does not exceed Rs. 5,00,000/=....

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Can NCLT review or recall its Order

NCLT, while exercising the power of rectification under section 254(2), can recall its order in its entirety if it is satisfied that prejudice has resulted to the party which is attributable to the Tribunal’s mistake, error or omission...

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Posted Under: Corporate Law |

Why to approach NCLT – CA, CS, CMA perspective

Applicant can appear before the Tribunal or the Appellate Tribunal in person or can authorise a chartered accountant, company secretary, cost and works accountant or a lawyer to appear before NCLT, NCLAT....

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All about Filing of caveat before NCLT

Caveat petition is a precautionary measure which is undertaken by people usually when they are having very strong apprehension that some case is going to be filed in the court regarding their interest in any manner. ...

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Posted Under: Corporate Law |

Common Mistakes by CA Final Students in Audit & Law Papers

CA Kamal Garg Common Mistakes Committed by the CA Final Students in Audit and Law Papers Q. No.: Questions asked on FB Page[1] Wrong Answer(s) given by Students Correct Answer given by the Students Remarks 1. Mr. X, a person resident in India, was found to have holding unaccounted assets in Panama. Advise about the […]...

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Guide to Excise Duty Levy on Jewellery under Budget 2016

In Budget 2016, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input tax credit] has been imposed on articles of jewellery. Even for this nominal 1% excise duty, manufacturers are allowed to take credit of input services, which can be utilised for payment of duty on jewellery. The salient features of this levy are ...

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KGMA’s Guide to Significant Direct Tax Proposals of Budget 2016

Google Tax: India has taken the first step to tax the digital economy. An equalisation levy--a deduction of 6% to be made by an Indian payer on payments to a nonresident entity for specified B2B services such as advertising—has been introduced in the Budget. The levy will impact the bottom lines of giants such as Google, Yahoo and other...

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Directors’ responsibility for “All” applicable laws to Company

The word all used in Section 134(5) supra has left the directors of the companies with a question as to whether their responsibility is made open ended under the Companies Act, 2013, since prima facie the word all seems to provide an inclusive sense rather than an exhaustive sense. In the present article, an attempt has been made to under...

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Non-Bailable Offences Under Companies Act, 2013

The Companies Act, 2013 has categorized certain offences at par with criminal offences under the Code of Criminal Procedure, 1972 (Cr. PC) thereby has identified the same as cognizable and non-bailable. Thus, it is quintessential for the Promoters, Directors, Manager, Officers and other key managerial personnel to understand various defin...

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Posted Under: Corporate Law |

CA Final Audit & Company Law Amendments for May 2016 Examination

With insertion of 4th proviso in section 123(1), no Co. shall declare dividend unless carried over previous losses and depreciation not provided in previous year(s) are set off against profit of the company for the current year....

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Posted Under: Corporate Law |

Issue of Employee Stock Options by Private Limited Companies

Section 62(1)(b) of the Companies Act, 2013 provides that where at any time, a company having a share capital proposes to increase its subscribed capital by the issue of further shares, such shares shall be offered to employees under a scheme of employees' stock option, subject to special resolution passed by company and subject to such c...

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Posted Under: Corporate Law |

Filing fees for belated filing under Companies Act, 2013 – opportunity or advantage

Section 611 of the Companies Act, 1956 provided for payment of filing fees in accordance with Schedule X to that Act. There is no Schedule in the Companies Act, 2013 for 'filing fees'. Accordingly, section 403 of the Companies Act, 2013 provides for payment of filing fees as prescribed by rules made under the Companies Act, 2013. Rule 12 ...

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Posted Under: Corporate Law |

Provisions related to ‘Private Placement’ under Companies Act 2013

Tug of war between Private Placement and Preferential Offer: Section 42 of the Companies Act, 2013, read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014 prescribe the procedure for private placement of securities to any persons through the issue of a private placement offer letter and subject to an overa...

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Posted Under: Corporate Law |

Deemed Dividend u/s 2(22)(e) of Income Tax Act, 1961- illustrative analysis

In terms of Section 2(22)(e) of the Income Tax Act, 1961, dividend" includes any payment by a company, not being a company in which the public are substantially interested, of any sum (whether as representing a part of the assets of the company or otherwise) made after the 31st day of May, 1987, by way of advance or loan:...

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Posted Under: Corporate Law |

Expenditure incurred in relation to income not includible in total income

As per section 14A, expenditure incurred in relation to any exempt income is not allowed as deduction. However, if the Assessing Officer is not satisfied with the correctness of the claim of the assessee in respect of expenditure in relation to exempt income, or the claim made by the assessee that no expenditure has been incurred in relat...

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Posted Under: Corporate Law |

IFRS 15 Revenue from Contracts with Customers Impact Analysis

The core principle of IFRS 15 is that an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration (payment) to which the entity expects to be entitled in exchange for those goods or services. To apply this principle, a five-step model framework as describe...

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Posted Under: Corporate Law |

Taxability of unlisted shares received by closely held company, firm or LLP for inadequate consideration

A careful reading of Section 56(2)(viia) lay down the following essential ingredients for the taxability of unlisted shares received by closely held company or firm or LLP as the case may be: (1). The shares (equity or preference) received, on or after 1-6-2010, are shares of a company in which the public is not substantially interested;...

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Posted Under: Corporate Law |

Disallowance of expenditure for non deduction of tax at source – Implications and Explanations

Disallowance of expenditure for deduction of tax at source but non payment of the same on or before the due date of filing of return of income: Sub-clause (i) of clause (a) of aforesaid section has been amended by the Finance (No. 2) Act, 2014 to provide that disallowance under the said sub-clause will be attracted,...

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Posted Under: Corporate Law |

Capital Gain Tax on Conversion of private company into LLP?

Clause (xiiib) of section 47 read with sub-section (4) of section 47A of the Income Tax Act, 1961, inserted by the Finance Act, 2010, with effect from assessment year 2011-12 provide that the transfer of a capital asset or intangible asset to LLP or any transfer of share or shares held in the company by a shareholder on conversion of a pr...

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Posted Under: Corporate Law |

Stamp Duty on conversion of a Private Company into LLP

Section 58(4) of the LLP Act, 2008, provides that notwithstanding anything contained in any other law for the time being in force, on and from the date of registration specified in the certificate of registration issued under the Third Schedule— (a) there shall be a limited liability partnership by the name specified in the certificate ...

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Posted Under: Corporate Law |

Dormant Company – Compliances under Companies Act, 2013 Act

(A). Dormant Company [Section 455]: (1) Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make an application to the Registrar in such manner as may be prescribed for obtaining th...

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Posted Under: Corporate Law |

Outstanding Sundry Creditors as on 1st April, 2014 – Whether deposits under Companies Act, 2013

In terms of section 2(31) of the Companies Act, 2013, deposit includes any receipt of money by way of deposit or loan or in any other form by a company, but does not include such categories of amount as may be prescribed in consultation with the Reserve Bank of India. Therefore, all types of deposit of money or the amount borrowed by a co...

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Posted Under: Corporate Law |

Management Services and the Auditors

CA Kamal Garg 1. Introduction Section 141(3)(i) of the Companies Act, 2013 states any person whose subsidiary or associate company or any other form of entity, is engaged as on the date of appointment in consulting and specialised services as restricted for statutory auditors in section 144, shall be disqualified for appointment as audito...

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Posted Under: Corporate Law |

Conversion of Private Limited / Unlisted Public Company into LLP

Krishna Govardhan Conversion of Private Limited Company/ Unlisted Public Company into Limited Liability Partnership Key Benefits: 1. One of the most important reasons for the conversion of a Company into a Limited Liability Partnership is derived from the Income Tax Act. The Income Tax Act, 1961 provides for Minimum Alternate Tax and paym...

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Posted Under: Corporate Law |

Turnover under Companies Act, 2013 – whether a trajectory towards Cash Basis of accounting

Section 2(91) of the Companies Act, 2013 defines turnover to mean the aggregate value of the realisation of amount made from the sale, supply or distribution of goods or on account of services rendered, or both, by the company during a financial year. This definition has used the words aggregate value of the realisation of amount made ins...

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Posted Under: Corporate Law |

Rumbling Retail Trading Mantra – from Flipkart to Myntra

From political gallerias to business colonnades, the FDI in Retail holds a perennial content to contention feature right from its nascent stages. This feature is rekindled when the recent news about Flipkart and Myntra was published in leading newspapers[1] about investigation being launched against them by the Enforcement Directorate...

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Posted Under: Corporate Law |

India to Converge With Global Financial Standards from April 2015

CA Kamal Garg Convergence with International Accounting Standards (IASs)/International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB) is getting its due weightage over a period of time and in the present context the convergence to IFRS is in the process of shaping up all over the world ...

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Posted Under: Corporate Law |

Taxability Of Incomes And Expenses Under Foreign Collaborations

The globalisation of economic reforms throughout the world has led to an increasing degree of inter-dependence between countries in the fields of technology, manpower, finance, etc. While drafting foreign collaboration agreements both parties have to necessarily take into consideration the tax laws in the respective countries. This is nec...

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Posted Under: Corporate Law |

Ignorance of law in not furnishing Section 92E Report – whether a reasonable cause for not levying penalty

Under section 92E, every person who enters into an international transaction during a previous year is required to obtain a report from a chartered accountant and furnish such report on or before the specified date on the prescribed form. Rule 10E provides that the auditor’s report shall be in Form No.3CEB....

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Posted Under: Corporate Law |

One Person Companies (OPC) Under Companies Act, 2013

One Person Company means a company which has only one person as a member. It may be formed for any lawful purpose by one person as a private company by subscribing his name to a memorandum and complying which the requirements of this act in respect of registration....

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Posted Under: Corporate Law |

Corporate Advisors Vis-À-Vis Their Professional Privilege

The corporate advisors play a very vital and the core role for the companies in respect of various advisory activities including representation before authorities. The corporate advisors generally are chartered accountants, company secretaries, cost and management accountants, advocates, tax practitioners, etc. ...

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Posted Under: Corporate Law |

CBDT Clarifications on Functional Profile of Development Centres engaged in Contract R&D Services with insignificant risk

CA Kamal Garg TRANSFER PRICING: CBDT Clarifications on Functional Profile of Development Centres engaged in Contract R&D Services with insignificant risk – conditions relevant to identify such Development Centres...

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Posted Under: Corporate Law |

Compounding of offences under FEMA, 1999

CA Kamal Garg The term ‘compounding’ has not been defined either in the Foreign Exchange Management Act, 1999 or the rules issued there under. However, inference can be drawn from the definition given in the Companies Act, 1956. It defines ‘compounding’ as: ‘Any offence punishable under the Act (whether committed by the company ...

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Posted Under: Corporate Law |

Cyber Laws – An Emerging Opportunity for Finance Professionals

Business Enterprises and Government Departments are making increasing use of Information Technology to better manage their operations and offer value added services to their clients/ citizens. While this increasing deployment of IT has given immense benefits there have been increasing concerns on the efficiency and effectiveness of the ma...

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Posted Under: Corporate Law |

ECB Policy- Bridge Finance For Infrastructure Sector & Trade Credits For Import Into India

As per the extant guidelines, Indian companies in the infrastructure sector, where infrastructure is as defined under the extant guidelines on External Commercial Borrowings (ECB), have been allowed to import capital goods by availing of short term credit (including buyers'/suppliers' credit) in the nature of 'bridge finance', under the ...

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Posted Under: Corporate Law |

Permitting FDI in Multi-Brand Product Retail Trading (MBRT)

1. The Cabinet has approved the proposal of the Department of Industrial Policy & Promotion (DIPP) for permitting FDI in multi-brand retail trading, subject to specified conditions. The proposal had earlier been approved by the Cabinet in its meeting on 24-11-2011. However, implementation of the proposal had been deferred, for evolving a ...

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Posted Under: Corporate Law |

Foreign Direct Investment in Single-Brand Product Retail Trading (SBRT)

CA Kamal Garg The Cabinet has vide PRESS RELEASE, DATED 14-9-2012, approved the proposal of the Department of Industrial Policy & Promotion for amendment of the existing policy on Foreign Direct Investment in Single-Brand Product Retail Trading. Vide Press Note 1 (2012 Series) dated 10-1-2012, Government had permitted FDI, up to 100%...

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Posted Under: Corporate Law |

Guidance Note on Certification of XBRL Financial Statements

The objective of the Guidance Note issued by ICAI is to provide guidance to the practitioners in certification of XBRL formatted statements in terms of the requirements of the Ministry’s General Circular No. 57/ 2011 dated July 28, 2011 read with MCA’s General Circular No. 43/2011 dated July 07, 2011. These Circulars require that besi...

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Posted Under: Corporate Law |

Audit Risk- Component, Model, Concepts, Assessment & Internal Control

In very broad terms, audit risk is the risk of a material misstatement of a financial statement item that is or should be included in the audited financial statements of an entity. In this regard, a financial statement item includes any related notes to the financial statements....

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Posted Under: Corporate Law |

Reporting Under Clause 4 (iii) & (v) OF CARO, 2003

Under the provisions of Section 299 of the Companies Act, 1956, every director of a company, whether directly or indirectly, who is concerned or interested in a contract or arrangement entered or to be entered, is required to disclose the nature of his concern or interest at the meeting of Board of Directors. A general notice given to the...

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Posted Under: Corporate Law |

XBRL Filing For The Financial Year 2011-2012

XBRL (eXtensible Business Reporting Language) is a language for the electronic communication of business and financial data that has revolutionized business reporting around the world. Its major benefits include ease in preparation, analysis and communication of business information by the corporates. It offers cost savings, greater effic...

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Posted Under: Corporate Law |

Direct Investments Outside India

(1) Overseas investments in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) have been recognised as important avenues for promoting global business by Indian entrepreneurs. Joint Ventures are perceived as a medium of economic and business co-operation between India and other countries. Transfer of technology and skill, sharing of ...

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Posted Under: Corporate Law |

Reporting Guidelines for Foreign Investments in India

1. Reporting of FDI for fresh issuance of shares: (i) Reporting of inflow:(a) The actual inflows on account of such issuance of shares shall be reported by the AD branch in the R-returns in the normal course.(b) An Indian company receiving investment from outside India for issuing shares / convertible debentures / preference shares under ...

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Posted Under: Corporate Law |

Trade Credits for Imports into India

Trade Credits’ (TC) refer to credits extended for imports directly by the overseas supplier, bank and financial institution for maturity of less than three years. Depending on the source of finance, such trade credits include suppliers’ credit or buyers’ credit. Suppliers’ credit relates to credit for imports into India extended b...

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Posted Under: Corporate Law |

Accounting for agreements for the construction of real estate [IFRIC 15 under IFRS]

On 3 July 2008, the International Financial Reporting Interpretations Committee (IFRIC) issued IFRIC 15 Agreements for the Construction of Real Estate. The Interpretation addresses the accounting for revenue and associated expenses by entities that undertake the construction of real estate directly or through subcontractors. Agreements wi...

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Posted Under: Corporate Law |

Distributions of Non-cash Assets to Owners [IFRIC 17 under IFRS]

The International Financial Reporting Interpretations Committee (IFRIC) issued IFRIC 17 Distributions of Non-cash Assets to Owners. IFRIC 17 is to be applied prospectively for annual periods beginning on or after 1 July 2009. This Interpretation provides guidance on the appropriate accounting treatment when an entity distributes assets ot...

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Posted Under: Corporate Law |

Policy on Route, Caps & Entry Conditions

Development of Townships, Housing, Built-up infrastructure and Construction Development projects- FDI up to 100% under the automatic route in townships, housing, built-up infrastructure and construction-development projects (which would include, but not be restricted to, housing, commercial premises, hotels, resorts, hospitals, education...

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Posted Under: Corporate Law |

External Commercial Borrowings (ECB) For Civil Aviation Sector

The Civil Aviation sector includes Airports, Scheduled and Non-Scheduled domestic passenger airlines, Helicopter services/Seaplane services, Ground Handling Services, Maintenance and Repair organizations; Flying training institutes; and Technical training institutions....

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Posted Under: Corporate Law |

Role of Chartered Accountants in relation to unlawful acts by their clients

As per Clause 1 of Part I of Second Schedule to The Chartered Accountants Act, 1949, as amended by the Chartered Accountants (Amendment) Act, 2006, a member in practice shall be deemed guilty of professional misconduct, if he discloses information acquired in the course of his professional engagement to any person other then his client, w...

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Posted Under: Corporate Law |

Compounding of Contraventions under FEMA, 1999

An application for compounding of a contravention under FEMA, 1999 may be submitted to the Compounding Authority (CA) on being advised of a contravention under FEMA, 1999, either through a memorandum or suo moto on being made or on becoming aware of the contravention. The format of the application is appended to the Foreign Exchange (Comp...

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Posted Under: Corporate Law |

XBRL – What’s all about

XBRL is a language for the electronic communication of business and financial data which is revolutionising business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those in...

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Posted Under: Corporate Law |

Revised Schedule VI – An Analysis

With the emergence of multinational corporations and rapid increase in cross border transactions, it is essential that our financial statements speak the global language for attracting foreign funds into India. Internationally, the observance of universally accepted reporting norms is perceived as an important measure of good corporate go...

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Posted Under: Corporate Law |

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