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IRDAI directs Aviva Life Insurance Company to strengthen internal checks & balances

October 12, 2022 1641 Views 0 comment Print

Considering the submissions of the insurer as above, the charge is not being pressed. The insurer is however, advised to strengthen the internal checks and balances to avoid re-occurrence of clerical errors going forward.

IRP/ RP cannot charge separate fees for each primary duty performed when a consolidated fees is already being paid

October 12, 2022 3009 Views 0 comment Print

DC observes that the CIRP Regulations covers the complete expenses and fees of the IRP/ RP, and this fee is payable after ratification by the CoC. The approval by the CoC of the expenses incurred in the CIRP is a mechanism for keeping a check on the expenditures made by the IRP/ RP. In the […]

Standard Operating Procedure for Inter-operable Regulatory Sandbox (IoRS)

October 12, 2022 1233 Views 0 comment Print

In order to facilitate testing of innovative products/services falling within the regulatory ambit of more than one financial sector regulators viz. RBI, SEBI, IRDAI, IFSCA and PFRDA, a Standard Operating Procedure (SOP) for IoRS has been prepared by the Inter-Regulatory Technical Group on FinTech (IRTG on FinTech). The Securities and Exchange Board of India today placed on its website the SOP for IoRS.

e-Passbook facility for National (Small) Savings Schemes account holders

October 12, 2022 7158 Views 0 comment Print

With introduction of the facility, Post Office Small Savings customers will be able to access the account details anytime, anywhere and without the need of having Net Banking or the Mobile Banking access e-Passbook facility can be accessed by an account holder through the registered mobile number.

Extension of Validity of Export of Raw Sugar to USA under TRQ to 31.12.2022

October 12, 2022 366 Views 0 comment Print

Extension of Validity regarding Export of Raw Sugar to USA under Tariff Rate Quota (TRQ) for the Fiscal Year 2022 from 30.09.2022 to 31.12.2022

Default in attaching Secretarial audit report (in form MR-3) – MCA imposes 8 Lakh penalty

October 12, 2022 16653 Views 0 comment Print

Discover how Zyden Gentec Limited faced an ₹8 Lakh penalty from MCA for not attaching Secretarial audit report (in form MR-3) for financial years 2015-16 and 2016-17, as required by Section 204 of Companies Act, 2013. Details of violation and penalties explained.

NPS/APY Functionalities released by CRAs during Quarter I (FY 2022-23)

October 12, 2022 690 Views 0 comment Print

CRAs have the responsibility to develop new functionalities or utilities, establish new processes, and offer multiple models of interface for the uploading offices in order to provide maximum flexibility in terms of operation for the benefit of the subscribers as an ongoing exercise to fulfil their obligations that ultimately benefit the Subscribers.

FAQs on Corporate Governance while submitting XBRL utility at Exchange

October 12, 2022 2466 Views 0 comment Print

FAQs on Corporate Governance while submitting Corporate Governance XBRL utility at Exchange for Quarter ended 30th September 2022.

Export quota of only broken rice (HS code 1006 40 00) for year 2022-23

October 12, 2022 1287 Views 0 comment Print

Quota of 3,97,267 MT of only broken rice under HS Code 1006 40 00, applicable only to LCs opened before the Notification No.31/2015-2020 dated 8th September, 2022 and the message exchange date between the Indian and foreign bank / swift date also prior to 8th September, 2022, to be exported during year 2022-23, is notified. […]

MCA Imposes 36 Lakh Penalty for Non-Attachment of Secretarial Audit Report

October 12, 2022 7578 Views 0 comment Print

In a recent development, the Registrar of Companies, Rajasthan, Jaipur, has taken strict action against M/s INTERLINK EXPORTS LIMITED and its key personnel, Shri NARAYAN TUKARAM BADDI (CFO) and Shri ALOK NARAYAN BADDI (CEO), for their failure to comply with the provisions of Section 204(1) of the Companies Act, 2013. This non-compliance pertains to the […]

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