The valuation report is based on the professional opinion of the valuer backed by his expertise and skills. Therefore, a valuation report is inherently remains subjective in nature. However, it must be kept in mind that the reliability of the valuation report increases with enhanced reliance on objective criteria. Therefore, it is necessary that all […]
The RV has placed on record the computation sheet utilised by him in preparing the valuation report. On perusal of the computation sheet, it can be presumed that the RV has considered certain factors such as year of purchase, source of the market price considered, adjustment value for year of make, etc. to arrive at […]
Order against Violation of Section 189 read with Section 188 of the Companies Act, 2013 by M/s. Adani Power Limited- The order states that an inquiry was conducted by the Office of the Registrar of Companies, Ahmedabad, based on a directive from the Ministry of Corporate Affairs. During the inquiry, it was found that the company […]
MCA imposes penalty on Adani Power Limited for not entering the details of Related Party Transactions in the register of contract in form No MBP-4 The Registrar of Companies, Gujarat, Dadra & Nagar Haveli, has recently imposed penalties on Mr. Gautam Adani (Chairman and Director), Mr. Vneet Jain (Wholetime Director), and Mr. Rajesh Shatilal Adani […]
The sub-regulation (1) and (10) of Regulation 31A of IBBI (Liquidation Process) Regulations, 2016, requires a liquidator to take advice of consultation committee in respect of sale under regulation 32 and such advice shall not be binding on the liquidator: Provided that where the liquidator takes a decision different from the advice given by the […]
DC is of the view that Mr. Mahesh Venkataraman failed in taking proper custody and control of the assets of CD-1 due to which breach of moratorium was done by management of suspended board by operating account with ICICI Bank, and with respect to CD-2, Mr. Venkataraman failed to maintain complete transparency in sharing profile of the professional engaged by him, with CoC.
UIDAI framework allows insurance companies to identify the customer by using his/her Aadhaar with consent management. In the absence of the Unique Customer Identification in the insurance sector, insurance companies are facing various issues while providing the services and claims apart from ease of onboarding the customers, circumventing possible frauds etc.
The violation of Section 42 of the Companies Act, 2013 pertains to the non-compliance of regulations regarding private placement of shares by a company. In this specific case, M/s. Payswiff Technologies Private Limited failed to adhere to the provisions of Section 42(6) of the Act, which requires the company to keep the funds received for […]
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued Supplementary Order No. 40 A/2023, which amends and supplements the provisions of Order No. 40/2022 dated 27.12.2022. The supplementary order clarifies the documents that promoters must submit when they are unable to comply with the directions issued under Order No. 7 of 2019 dated 08.02.2019. According […]
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued Order No. 45/2023, which pertains to the verification of the authenticity and genuineness of commencement certificates and occupation certificates submitted by promoters. The order highlights the establishment of MahaRERA as the regulatory authority for real estate in Maharashtra and the enactment of the Real Estate (Regulation […]
