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.

  • 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: Ministry of Corporate Affairs - Amendment to the Companies (Incorporation) Rules, 2014

    Regulatory Updates: Ministry of Corporate Affairs - Amendment to the Companies (Incorporation) Rules, 2014

    The MCA vide its notification dated 27 July 2017 has amended the Companies (Incorporation) Rules, 2014. The MCA has amended the provisions relating to: Shifting of registered office within the same State: An application seeking confirmation from the Regional Director

  • 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

  • Regulatory Updates: Ministry of Electronics and Information Technology - Press Brief on Data Protection Framework for India

    Regulatory Updates: Ministry of Electronics and Information Technology - Press Brief on Data Protection Framework for India

    The Ministry of Electronics and Information Technology released a press brief on 31 July 2017, in order to inform the general public that in light of the growth of the digital economy and increased dependence on digital data, the Government

  • Regulatory Updates: Telecom Regulatory Authority of India - Recommendations on Issued Related to Closure of Access Services

    Regulatory Updates: Telecom Regulatory Authority of India - Recommendations on Issued Related to Closure of Access Services

    On 30 November 2016, the Telecom Regulatory Authority of India (“TRAI”) had released a Consultation Paper on “Issues Related to closure of Access Services”. This was released as a result of great inconvenience being caused to subscribers while accessing Access

  • Regulatory Updates: Income Tax - Clarifications on Computation of Book Profit for the Purpose of Levy of Minimum Alternate Tax (MAT)

    Regulatory Updates: Income Tax - Clarifications on Computation of Book Profit for the Purpose of Levy of Minimum Alternate Tax (MAT)

    The Central Government notified the Indian Accounting Standards (Ind AS) which are in-line with International Financial Reporting Standards (IFRS). Consequently, the Finance Act, 2017, has amended the provisions of section 115JB of the Income-tax Act, 1961 (‘the Act’) for Ind

  • Regulatory Updates: Ministry of Corporate Affairs - Highlights of the Companies (Amendment) Bill, 2016

    Regulatory Updates: Ministry of Corporate Affairs - Highlights of the Companies (Amendment) Bill, 2016

    The Lok Sabha has passed the Companies (Amendment) Bill, 2017 on 27 July 2017.The Bill amends the Companies Act 2013 and the highlights are as follows: Section 2(6)- Definition of ‘associate company’ and ‘Joint Venture’ The Bill proposes amendment providing

  • Regulatory Updates: Telecom Regulatory Authority of India - Consultation Paper on Ease of Doing Business in India

    Regulatory Updates: Telecom Regulatory Authority of India - Consultation Paper on Ease of Doing Business in India

    On 31 July 2017, the TRAI released the above consultation paper in light of the exponential growth in the broadcasting sector in recent years, resulting in an increased need to ensure the ease of doing business to continue facilitating this

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