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.

  • Creche rules notified in Karnataka for establishments with 50 or more employees

    Creche rules notified in Karnataka for establishments with 50 or more employees

    Karnataka State Government vide Gazette Notification No.LD 127 LET 2018 dated August 8 2019, notified the Karnataka Maternity Benefit (Amendment) Rules, 2019 (“Karnataka Creche Rules”), wherein new rules relating to crèche facilities is inserted in the Karnataka Maternity Benefit Rules,

  • RBI on Processing of e-mandate on cards for recurring transactions

    RBI on Processing of e-mandate on cards for recurring transactions

    Reserve Bank of India (“RBI”) vide its notification on August 21 2019 has permitted the processing of e-mandate on cards for recurring transactions (“Notification”). RBI has put in place various safety measures for card payments including the requirement of additional

  • "APPOINTED DATE" IN CASE OF MERGER AND AMALGAMATION

    "APPOINTED DATE" IN CASE OF MERGER AND AMALGAMATION

    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

  • Nidhi Provisions Notified under Companies Act, 2013

    Nidhi Provisions Notified under Companies Act, 2013

    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

  • New Compliance under POSH for Entities in Telangana

    New Compliance under POSH for Entities in Telangana

    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

  • New BEN-2 Form for declaration of Beneficial Owners

    New BEN-2 Form for declaration of Beneficial Owners

    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,

  • New Procedure for filing Annual Return on Foreign Liabilities & Assets

    New Procedure for filing Annual Return on Foreign Liabilities & Assets

    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

  • ESI Contribution Reduction w.e.f July 1, 2019

    ESI Contribution Reduction w.e.f July 1, 2019

    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

  • Incorporation of Section 8 Companies (Not for Profit Organisation) gets simplified

    Incorporation of Section 8 Companies (Not for Profit Organisation) gets simplified

    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:

  • Regulatory update on Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019

    Regulatory update on Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019

    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

  • Process for Accreditation of Investors for the purpose of Innovators Growth Platform

    Process for Accreditation of Investors for the purpose of Innovators Growth Platform

    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”),

  • Failure to file ACTIVE form would result in marking DIN of Directors as Director of ACTIVE  non-compliant company

    Failure to file ACTIVE form would result in marking DIN of Directors as Director of ACTIVE non-compliant company

    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

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