Read the order issued by the Securities and Exchange Board of India (SEBI) under Section 12(3) of the SEBI Act, imposing a 2-year prohibition on IIFL Securities Limited (formerly India Infoline Limited) from taking up new clients as a stock broker. The order highlights the violations committed by IIFL and the corrective measures taken.
IBBI Disciplinary Committee found that Mr. C. Ramasubramaniam contravened provisions of IBC and related regulations. Firstly, he failed to file an extension application within the prescribed timeframe after the expiry of the liquidation period. This neglect in fulfilling his duty as a Liquidator demonstrates gross negligence and dereliction of responsibilities. Secondly, Mr. Ramasubramaniam accepted an […]
MCA has imposed penalties on Goodluck Petrolium Company Pvt. Ltd. and its directors for not conducting board meetings for multiple financial years. This article provides an analysis of the order and its implications.
Read the details of the IBBI Disciplinary Committee’s order suspending Insolvency Professional Mr. Vishal Ghisulal Jain for contraventions under the Insolvency and Bankruptcy Code.
MCA has issued a penalty order against Teleone Consumers Product Private Limited for violating Section 118 of Companies Act, 2013. Violation pertains to non-compliance with secretarial standards related to recording of minutes of meetings.
MCA imposes penalty on Ringming Hotels And Restaurants Private Limited for violating section 118 of Companies Act, 2013. Company failed to hold board meetings and annual general meetings, resulting in penalties. Get insights into the order and its implications.
Introduction: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has released a consultation paper on the framework for grading real estate projects in Maharashtra. This initiative aims to enhance transparency and enable homebuyers to assess the quality of projects and make informed decisions. MahaRERA has outlined the need for grading, provided examples from international and national […]
Read the order issued by the Central Board of Direct Taxes (CBDT), Ministry of Finance, specifying the scope of the e-Appeals Scheme under sub-section (6) of section 246 of the Income-tax Act, 1961. The order outlines the categories of appeals that must be completed under the e-Appeals Scheme, except for specific cases mentioned in the order.
MCA has imposed a penalty of Rs. 2 lakhs on a company secretary for incorrectly certifying the annual return of a company. The violation relates to the non-disclosure of board meeting dates. Learn more about the consequences and implications of this compliance breach.
MCA has imposed penalties on Siddhidata Sales Private Limited for failing to prepare minutes in compliance with the Companies Act, Rules 2014, and SS-1.
