The Ministry of Corporate Affairs vide Nidhi (Amendment) Rules, 2022, dated 19th April, 2022, introduced substantial amendments in terms of Nidhi Rules, 2014. The Nidhi (Amendment) Rules, 2022 has been explained in a very effortless simple terms as under. The following clause in Rule 3A of the said rules, after the third proviso, the following […]
The Ministry of Corporate Affairs (MCA) has formed the Company Law Committee (CLC) to make recommendations to the government on reforms that will improve the ease of doing business in India and simplify the Companies Act 2013. There were numerous recommendations in the report on the overall structure of the Act; however, in this post, […]
Nidhi Company along with recent amendments dated 19.04.2022 vide Nidhi (Amendment) Rules, 2022 Introduction: This Article contains detailed analysis of compliances applicable to Nidhi Company. MCA has recently came out with some amendments in the Nidhi Rules, 2014 vide Nidhi (Amendment) Rules, 2022 dated 19.04.2022 wherein more stringent norms have been prescribed by Central Government […]
1. Introduction on the Imprisonment + Fine (both) for Corporate Fraud under Section 447 of the Companies Act, 2013 (Act). (a) Corporate frauds are increasing in India by the person(s) those are directly or indirectly connected or even not-connected to the corporate. (b) It’s required that high standards for corporate governance and strong legal provisions should […]
This Article deals with the nuances of the GST framework for Export Trade viz a viz the challenges laid down while adhering to the Accounting Standard AS 9 – Revenue Recognition and 11 – The Effects of Changes in Foreign Exchange Rates
The Government of India had launched ‘Startup India’ with the aim to generate employment and also to create wealth. Accordingly, various Schemes are being launched under the ‘Startup India’ initiative. One such scheme is ‘Support for International Patent Protection in Electronics & Information Technology’, shortly known as SIP-EIT. SIP-EIT is launched by the Ministry of […]
Understanding the detention, seizure, and confiscation of goods and conveyances in transit under the Goods and Services Tax Act. Learn about the provisions and penalties involved.
BOMBAY HIGH COURT has refused ad-interim relief to stall the proposed Initial Public Offering (IPO) by the country’s oldest and largest insurer –Life Insurance Corporation of India, with a rider that any IPO before the court finally decides the challenge would be subject to the outcome of the petition.
The Reserve Bank of India tightens the lending and disclosure guidelines for NBFC’s by imposing some restrictions on lending to their upper management, directors, senior executives and the corporates or firms they are interested in. Also RBI issued guidelines regarding disclosure in its financial statements about the core and sensitive areas that are not covered […]
India is expected to attract foreign FDI of US$ 120-160 billion per year by 2025, according to a CII and EY report. Let us get to know how the FDI is regulated in India, the permissible routes and basic compliance related to the same. Foreign direct investment (FDI) is when an entity (Individual/Body corporate) acquires […]
