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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.

  • MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (MEETING OF BOARD AND ITS POWERS) AMENDMENT RULES 2018

    MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (MEETING OF BOARD AND ITS POWERS) AMENDMENT RULES 2018

    The MCA vide its notification dated 7 May 2018 has amended Companies (Meeting of Board and Its Powers) Rules 2014 by the Companies (Meetings of Board and Its Powers) Amendment Rules 2018. Now any director may participate through video conferencing

  • MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (AUDIT AND AUDITORS) AMENDMENT RULES 2018

    MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (AUDIT AND AUDITORS) AMENDMENT RULES 2018

    The MCA vide its notification dated 7 May 2018 has amended Companies (Audit and Auditors) Rules 2014 by Companies (Audit and Auditors) Amendment Rules 2018. The Explanation to Rule 3(7) of Companies (Audit and Auditors) Rules, 2014 stating that if

  • CBDT: NOTIFICATION OF INCOME TAX RETURN FORMS FOR ASSESSMENT YEAR 2018-19

    CBDT: NOTIFICATION OF INCOME TAX RETURN FORMS FOR ASSESSMENT YEAR 2018-19

    The Central Board of Direct Taxes (CBDT) in consultation with Ministry of Finance has notified Income Tax Return Forms for the Assessment Year ('AY') 2018-19. Few observations are as below: For AY 2017-18, a one-page simplified ITR Form-1(Sahaj) was notified.

  • REGULATORY UPDATE: THE COMMERCIAL COURTS, COMMERCIAL DIVISION AND COMMERCIAL APPELLATE DIVISION OF HIGH COURTS (AMENDMENT) BILL, 2018

    REGULATORY UPDATE: THE COMMERCIAL COURTS, COMMERCIAL DIVISION AND COMMERCIAL APPELLATE DIVISION OF HIGH COURTS (AMENDMENT) BILL, 2018

    The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 also known as The Commercial Courts Act was passed in 2015 with the intent to fasten the process of resolving Commercial disputes in India. The Act

  • MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) SECOND AMENDMENT RULES 2018

    MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) SECOND AMENDMENT RULES 2018

    The MCA vide its notification dated 7 May 2018 has amended Companies (Appointment and Qualification of Directors) Rules 2014 by Companies (Appointment and Qualification of Directors) Second Amendment Rules 2018 expanding the scope of qualifications of independent directors. Rule 5

  • Update: Regulatory Department of Industrial Policy and Promotion (DIPP) Notification on Definition of Start-ups

    Update: Regulatory Department of Industrial Policy and Promotion (DIPP) Notification on Definition of Start-ups

    The Department of Industrial Policy and Promotion (DIPP) vide its notification dated 11 April 2018 has amended its previous notification dated 23 May 2017 on the eligibility guidelines for ‘start-ups’. This notification is in suppression of the earlier notification dated

  • Regulatory update: Department of Industrial Policy and Promotion (DIPP) Notification on Definition of Startups

    Regulatory update: Department of Industrial Policy and Promotion (DIPP) Notification on Definition of Startups

    The Department of Industrial Policy and Promotion (DIPP) vide its notification dated 11 April 2018 has amended its previous notification dated 23 May 2017 on the eligibility guidelines for ‘start-ups’. This notification is in supersession of the earlier notification dated

  • Regulatory Update:  Ministry of Finance - Relaxes MAT Provisions for Companies Facing Insolvency

    Regulatory Update: Ministry of Finance - Relaxes MAT Provisions for Companies Facing Insolvency

    The Ministry of Finance vide its press release dated 6 January 2018 has informed that representations are received from the companies against whom an application for corporate insolvency resolution has been admitted by the adjudicating authority under section 7, 9

  • Regulatory Update: Amendment in Agreement Between India and China for Avoidance of Double Taxation and Prevention of Fiscal Evasion

    Regulatory Update: Amendment in Agreement Between India and China for Avoidance of Double Taxation and Prevention of Fiscal Evasion

    The Union Cabinet has accorded its consent for the protocol amending the Agreement between India and China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income. The key aim is to

  • Regulatory Update: The Central Board of Direct Tax - Non-Recovery of Tax Demands From Start-Up Companies Issuing Shares at Premium.

    Regulatory Update: The Central Board of Direct Tax - Non-Recovery of Tax Demands From Start-Up Companies Issuing Shares at Premium.

    The Income Tax Act, 1961 (the IT Act) mandates the taxation of premium received on issue of shares to resident Indians in excess of Fair Market Value ('FMV') by a company, as income u/s 56(vii) (b) of the Income Tax

  • Regulatory Update: The Ministry of Health and Family Welfare of Government - Draft Clinical Trial (CT) Rules, 2018

    Regulatory Update: The Ministry of Health and Family Welfare of Government - Draft Clinical Trial (CT) Rules, 2018

    DRUG & CLINICAL TRIAL RULE 2018 The Ministry of Health and Family Welfare of Government of India has released draft Clinical Trial (CT) Rules 2018, which will come in force after its final publication in the Official Gazette. The new

  • Regulatory Updates: SEBI- Circular on Minimum Public Shareholding

    Regulatory Updates: SEBI- Circular on Minimum Public Shareholding

    SEBI vide its circular dated 22 February 2018 has provided the following methods for complying with the Minimum Public Shareholding (MPS) requirement: Open market sale of shares held by the promoters/promoters group up to 2% of the paid-up equity share

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