The Ministry of Corporate Affairs (the MCA) vide its notification dated 21 August 2019, has provided a clarification with respect to interpretation of section 232(6) of the Companies Act (Act). Section 232(6) of the Act states that the scheme under
Ministry of Corporate Affairs (“MCA”) vide Notification dated July 1, 2019, appointed that Section 406 of the Companies Act, 2013 shall come into force from August 15, 2019. Nidhi company is created for borrowing and lending money between members. Some
Telangana Government’s Department of Women Development and Child Welfare vide its Notification on its website, has mandated entities with 10 or more employees to register their Internal Complaints Committee (ICC) constituted under Section 4 of the Sexual Harassment of Women
Ministry of Corporate Affairs (“MCA”) vide Notification dated July 1, 2019, amended the Companies (Significant Beneficial Owners) Rules, 2018 by substitution of the existing Form BEN-2 for declaration of Beneficial Owners through the Companies (Significant Beneficial Owners) Second Amendment Rules,
Reserve Bank of India (“RBI”) vide its Circular No.37 dated June 28, 2019, discontinued the existing practice of submission of annual returns on Foreign Liabilities and Assets (FLA) through email to RBI by July 15 of every year. RBI has
Employees’ State Insurance Act, 1948 (“ESI”), is a social benefit legislation, enacted to provide certain benefits to employees in case of sickness, maternity and employment injury. Amended Position: The Ministry of Labour and Employment vide its Gazette Notification No.G.S.R. 423
The Ministry of Corporate Affairs (the MCA) vide its notification dated 7 June 2019 has amended the Companies Incorporation Rules, 2014 to simplify the incorporation procedure. This shall be effective from 15 August 2019. Following are the key changes made:
The Ministry of Corporate Affairs (the MCA) vide the Companies (Prospectus and Allotment of Securities) Rules, 2014 has introduced Form PAS-6. The said form is required to be filed by every unlisted public company within sixty days from the conclusion
The Securities and Exchange Board of India (“SEBI”) vide circular dated 22 May 2019 has announced the framework for the process of accreditation of investors for the purpose of the Innovators Growth Platform (“Framework”). The circular defines Accredited Investors (“AIs”),
The Ministry of Corporate Affairs (the MCA) vide the Companies (Incorporation) Amendment Rules, 2019 read with the Companies (Incorporation) (Fourth Amendment) Rules, 2019 had introduced Form INC-22A ACTIVE mandating the Companies to file particulars of the Company and its registered
The Ministry of Corporate Affairs (the MCA) had received representation from various stakeholders seeking for relaxation from payment of additional fee specifically with respect to filing e-form ADT-1 which was filed through Form GNL-2 during the period from 1 April
The Reserve Bank of India (“RBI”) on 27 March 2019, announced that a Non-Resident[1] shall be given access to the Rupee Interest Rate Derivative (“IRD”) market in India vide the notification of Non-resident Participation in Rupee Interest Rate Derivatives Market
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