Living with the times

A lawyer who is not up to date with the current legal and regulatory updates is nothing short of dangerous. Therefore, at NovoJuris Legal, we strive to stay current. We are also strong believers of growth of knowledge through sharing. These articles and blogs help us share our research with the world, so that no one has to reinvent the wheel yet again.

  • REGULATORY UPDATES: PEER TO PEER (NBFC-P2P) LENDING PLATFORM (RESERVE BANK) DIRECTIONS, 2017

    REGULATORY UPDATES: PEER TO PEER (NBFC-P2P) LENDING PLATFORM (RESERVE BANK) DIRECTIONS, 2017

    On 24 August 2017, the RBI had issued a notification that the Company into “business of a peer to peer lending platform” would be termed as Non-Banking Financial Company(NBFC) and such activity shall be carried out with the prior approval

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - DISQUALIFICATION OF A DIRECTOR.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - DISQUALIFICATION OF A DIRECTOR.

    The Ministry of Corporate Affairs has notified a list of Directors who have been disqualified to act as directors pursuant to section 164(2)(a) of the Companies Act, and the Rules made thereunder. Hence Directors are requested to note that no

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (ACCEPTANCE OF DEPOSITS) SECOND AMENDMENT RULES, 2017.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (ACCEPTANCE OF DEPOSITS) SECOND AMENDMENT RULES, 2017.

    The MCA vide its notification dated 19 September 2017 has notified the Companies (Acceptance of Deposits) Second Amendment Rules, 2017 further to amend the Rule 3(3) of Companies (Acceptance of Deposits) Rules, 2014 to relax terms and conditions of acceptance

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (RESTRICTION ON NUMBER OF LAYERS) RULES, 2017.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS - NOTIFICATION OF THE COMPANIES (RESTRICTION ON NUMBER OF LAYERS) RULES, 2017.

    In view of reports of misuse of multiple layers of companies, where companies create shell companies for diversion of funds or money laundering, MCA vide its notification dated 20 September 2017 has notified the Companies (Restriction on the number of

  • REGULATORY UPDATE: MCA ISSUED NOTICE INVITING COMMENTS/SUGGESTIONS ON INTEGRATION OF NAME RESERVATION WITH SPICE E-FORM UNDER COMPANIES ACT, 2013

    REGULATORY UPDATE: MCA ISSUED NOTICE INVITING COMMENTS/SUGGESTIONS ON INTEGRATION OF NAME RESERVATION WITH SPICE E-FORM UNDER COMPANIES ACT, 2013

    The MCA in view of simplifying the process of name reservation for the Companies, it has issued the Consultation Paper on the integration of Name reservation with SPICE e-form under the Companies Act, 2013. In this regard, it has invited

  • ARRESTS IN CONNECTION WITH INVESTIGATION BY SERIOUS FRAUD INVESTIGATION OFFICE

    ARRESTS IN CONNECTION WITH INVESTIGATION BY SERIOUS FRAUD INVESTIGATION OFFICE

    NOTIFICATION OF THE COMPANIES (ARRESTS IN CONNECTION WITH INVESTIGATION BY SERIOUS FRAUD INVESTIGATION OFFICE) RULES, 2017. The MCA vide its notification dated 24 August 2017 has notified the Companies (Arrest in connection with Investigation by Serious Fraud Investigation Office) Rules, 2017

  • NOTIFICATION OF THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL (AMENDMENT) RULES 2017.

    NOTIFICATION OF THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL (AMENDMENT) RULES 2017.

    NOTIFICATION OF THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL (AMENDMENT) RULES 2017. The MCA vide its notification dated 23 August 2017 has amended Rule 63 of National Company Law Appellate Tribunal Rules 2016  notified on 21 July 2016 regarding Appearance by Authorised

  • COMMENTS INVITED ON THE PROPOSED AMENDMENTS IN THE DRAFT COMPANIES (COST RECORDS AND AUDIT) RULES, 2014

    COMMENTS INVITED ON THE PROPOSED AMENDMENTS IN THE DRAFT COMPANIES (COST RECORDS AND AUDIT) RULES, 2014

    COMMENTS INVITED ON THE PROPOSED AMENDMENTS TO THE DRAFT COMPANIES (COST RECORDS AND AUDIT) RULES, 2014 Pursuant to the implementation of Indian Accounting Standards (IndAS), the MCA vide its public notice dated 11 August 2017 has invited comments/suggestions on the

  • DELEGATION OF POWERS TO REGIONAL DIRECTOR

    DELEGATION OF POWERS TO REGIONAL DIRECTOR

    DELEGATION OF POWERS TO REGIONAL DIRECTOR UNDER SECTION 458 OF COMPANIES ACT 2013 The MCA vide its notification dated 06 September 2017 pursuant to power vested in it under Section 458 of the Companies Act, 2013 has delegated its powers

  • CLARIFICATION ON DEFINITION OF “JOINT VENTURE”

    CLARIFICATION ON DEFINITION OF “JOINT VENTURE”

    MINISTRY OF CORPORATE AFFAIRS (MCA) CLARIFICATION ON DEFINITION OF “JOINT VENTURE” FOR THE PURPOSE OF EXEMPTION FROM APPOINTMENT OF INDEPENDENT DIRECTORS BY CERTAIN UNLISTED PUBLIC COMPANIES The MCA vide its notification dated 5 July 2017 had inserted Rule 4(2) and

  • Regulatory Updates: Ministry of Corporate Affairs - Amendment to the Companies (Meetings of Board and its Powers) Rules, 2014

    Regulatory Updates: Ministry of Corporate Affairs - Amendment to the Companies (Meetings of Board and its Powers) Rules, 2014

    The MCA vide its notification dated 13 July 2017 has amended the Companies (Meetings of Board and its Powers) Rules, 2014. With this amendment, the MCA has amended the provisions relating to: Intimation of a Director to participate by way

  • Regulatory Updates: Notification Final Rules for Valuation of Unquoted Shares

    Regulatory Updates: Notification Final Rules for Valuation of Unquoted Shares

    The Central Board of Direct Taxes vide Notification No. 61/2017 dated 12 July 2017 has notified final rules for valuation of unquoted equity shares for the purposes of Sec. 56(2)(x) and Sec. 50CA. As per Erstwhile Rule 11UA of Income

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