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Notifications/Circulars

Operational Guidance – Amendment to SEBI Buy-back Regulations

March 8, 2023 1893 Views 0 comment Print

As per Clause (vi) of Regulation 16 of the Buy-back Regulations, the buy-back through stock exchanges shall be subject to the restrictions on placement of bids, price and volume, as specified by SEBI.

IBBI disposes SCN against IP without direction as it found no mala fide in conduct of IP

March 7, 2023 789 Views 0 comment Print

The DC notes that Preamble of the Code makes it clear that all out efforts are to be made for resolution of the Corporate Debtor. CoC having sole FC has shown undue haste in reaching the conclusion, that CD has to be pushed towards direct liquidation. In the process, it discouraged the RP from even […]

Govt notifies Cryptocurrency – Virtual digital assets under PMLA, 2002

March 7, 2023 2946 Views 0 comment Print

Central Government hereby notifies that the following activities when carried out for or on behalf of another natural or legal person in the course of business as an activity for the purposes of said sub sub-clause, namely:- (i) exchange between virtual digital assets and fiat currencies; (ii) exchange between one or more forms of virtual digital assets;

Rectifiable labelling information for imported food consignments

March 7, 2023 1785 Views 0 comment Print

The labels on imported food consignments which are found to be non-compliant by laboratory during analysis, the importer may rectify the label and the concerned AO (Authorised Officer)/his representative shall verify the compliance and issue the No Objection Certificate (NOC) for the said consignment

Related party transactions not placed before Audit Committee meeting – Penalty Imposed

March 7, 2023 1476 Views 0 comment Print

It is observed that the subject company has not placed the related party transactions before the Audit Committee meeting held on 31.10.2018 for approval in compliance of section 118(1) of the Act r/w Secretarial Standard -1 (SS-1) issued by Institute of Company Secretaries of India. Relevant provision of para 1.3.8 of secretarial standard (SS-1) issued […]

Resolution without signatures of authorized signatories – Penalty imposed

March 7, 2023 1518 Views 0 comment Print

It is observed that the resolutions placed before the Board during the aforesaid financial year for the purpose of bank signatory did not contain the specimen signatures of the authorized signatories and as such were also not contained in the Minutes book which indicate that minutes of the board meeting held on 29.08.2016, 27.10.2016 and […]

Jacket with video/audio recording facility for use by vessel Boarding Officer

March 7, 2023 1779 Views 0 comment Print

F. No.450/33/2022-Cus. IV Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) Room No.227B, North Block, New Delhi ***** Circular No. 07/2022-Customs dated 7th March, 2023 To, All Principal Chief Commissioners/ Chief Commissioners (Customs/ Customs (Preventive) / Customs & Central Tax) All Principal Commissioners/ Commissioners of Customs/ Customs […]

Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2023

March 7, 2023 11028 Views 0 comment Print

Every Banking Company or Financial Institution or intermediary, as the case may be, shall register the details of a client, in case of client being a non-profit organisation, on the DARPAN Portal of NITI Aayog, if not already registered, and maintain such registration records for a period of five years after the business relationship between a client and a reporting entity has ended or the account has been closed, whichever is later.

Weekly newsletter from Chairman, CBIC dated 06/03/2023

March 6, 2023 2703 Views 0 comment Print

Both LCSs are not only important for bilateral trade but also important crossing points for transit trade with and among neighboring countries. With this, out of 75 Land Customs Stations handling cargo movement and requiring Electronic Data Interchange (EDI), 60 are now EDI-enabled.

Guidelines on Statutory Branch Audit of Public Sector Banks

March 6, 2023 62094 Views 2 comments Print

Source- Unconfirmed and based on File Received from Social Media Revised RBI Guidelines for Appointment / Re-appointment of Statutory Branch Auditors of Public Sector Banks and Norms on Business Coverage under Statutory Branch Audit of Public Sector Banks for the year ending March 31, 2023. Reserve Bank of India Ref. DoS.CO.ARG/S8213/08.91.001/2022-23 March 06, 2023 The Chairman/Managing […]

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