The Insolvency and Bankruptcy Board of India (IBBI) has introduced the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2023. The IBBI’s amendment regulations, it introduces a new explanation to clarify regulatory fee exemption for approved resolution plans involving real estate projects handled by associations or groups of allottees. […]
Director General of Foreign Trade (DGFT) has announced Trade Notice No. 16/2023-DGFT on 20th July, 2023, stating the extension of the last date for submitting applications to obtain a license for exporting broken rice to Senegal, Gambia, and Indonesia on humanitarian grounds. The new deadline for submission is 27th July, 2023. Government of India Ministry […]
MCA order identifies that company failed to comply with Secretarial Standards, specifically regarding the mention of the number of board meetings held during the financial year in its reports. A show cause notice was issued to the company, and in response, they admitted the error. As a result, the penalty has been imposed on the company and its officers in default under Section 118(11) of the Companies Act, 2013.
Central Board of Indirect Taxes and Customs, issued Notification No. 54/2023-Customs (N.T.) on 20th July 2023. This notification pertains to the rate of exchange of conversion of foreign currencies into Indian rupees for imported and export goods with effect from 21st July, 2023. Government Of India Ministry Of Finance Department Of Revenue Central Board Of […]
Read about the extension of the trading window closure period for listed companies as per the SEBI Circular No. SEBI/HO/ISD/ISD-PoD-2/P/CIR/2023/124 dated July 19, 2023, and the phased implementation of the framework for restricting trading by Designated Persons (DPs) through freezing PAN at the security level.
Reserve Bank of India has issued a notification announcing the inclusion of NongHyup Bank in the Second Schedule of the RBI Act, 1934. All banks are advised regarding this update.
Read latest circular from PFRDA regarding guidelines for operational activities to be followed by Point of Presence (PoPs-NPS-Lite). Stay updated and comply with regulations.
Recent judgment reduces penalty for M/s. Vena Energy Renewables Resources Pvt Ltd’s delay in filing e-Form INC-20A, highlighting the MCA’s evolving compliance landscape.
Ministry of Finance amends rule 11UAC of Income-tax Rules 1962, specifically addressing the relocation of funds and movable property vide Notification No. 51/2023-Income Tax | Dated: 18th July, 2023. Under the Income-tax (Thirteenth Amendment) Rules 2023, a new sub-rule has been inserted in rule 11UAC. This sub-rule pertains to movable property, such as shares or […]
The Central Board of Indirect Taxes and Customs in India has received concerns about the suspension of Customs Broker licenses, even when it may not be warranted. This practice can have disruptive consequences, particularly for small enterprises. Regulation 16 of the CBLR, 2018 provides the Commissioner of Customs with the power to suspend licenses in […]
