Since, no discussion was done on the fees of RV, the IBBI DC found IP in contravention of section 208(2)(a) of the Code, regulation 7(2)(a), (h) and (i) of the IP Regulations, regulation 31A(1)(a) of Liquidation Regulations read with clauses 2, 3 and 14 of the Code of Conduct and Board Circular dated June 12, 2018.
The Office of the Commissioner of Customs in Chennai, under the Ministry of Finance, Department of Revenue, has issued a public notice addressing queries and providing clarifications regarding the implementation of the Electronic Cash Ledger (ECL) in the Indian Customs EDI System. The notice informs importers, exporters, customs brokers, and other stakeholders about the resolution […]
The Registrar of Companies (ROC), Gujrat, Dadra and Nagar Haveli has recently imposed penalties on a company, including its officer in default for the violation of Section 117 of the Companies Act, 2013. The Company failed to file the required e-form MGT-14 along with the Board Resolution within the stipulated time frame of 30 days […]
For effective regulation of Mutual Fund Industry, the Securities and Exchange Board of India (“SEBI”) has been issuing various circulars from time to time. In order to enable the stakeholders to have an access to all the applicable regulatory requirements at one place, the provisions of the said circulars issued till March 31, 2023 are incorporated in this Master Circular for Mutual Funds.
IRDAI has announced the introduction of dedicated email addresses for applicants seeking No Objection Certificates (NOC), Certificates of Registration (CoR), or other related communications.
The lapses in Audit identified in this Order relate to the EP’s failure in determining whether the accounting policy of the company conformed to the required standards, failure in applying sufficient audit procedure as per Standards on Auditing (‘SAs’ hereafter), failure to question the management represenations with professional skepticism, and failure in identifying and reporting material mistatements in the financial statements.
RBI decided to withdraw ₹2000 denomination banknotes from circulation. Banknotes in ₹2000 denomination will continue to be legal tender.
Ministry of Corporate Affairs penalized Kosamattam Nidhi Limited for not mentioning DIN of directors in documents attached with e-form ADT-1
Over time there has been increased participation of investors in Indian securities market, including, in the derivatives segment. While investors are expected to make investment decisions based on their own due diligence and risk appetite, it is important to empower them with detailed information about the risks associated with trading in derivatives.
Penalties for violating Section 197 of Companies Act as company paid managerial remuneration to a director exceeding requisite approvals
