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Partner in Your 04-Jul, 2024
The Insolvency and Bankruptcy Board of India (“IBBI”) has rolled out 4 (four) online forms to monitor the voluntary liquidation pro-cess. For ongoing cases wherein (i) no application for dissolution of the Corporate Person (“CP”) has been filed; (ii) an application ...
14-Jun, 2024
The RBI has released Draft 2024 Directions, for seeking public comments and inputs aiming to strengthen the current regulatory framework governing project finance and harmonizing the guide-lines across all regulated entities (“REs”). The purpose ...
10-May, 2024
The ICSI has revised the secretarial standards pertaining to board meetings (SS-1) and general meetings (SS-2), to align them with the current provisions of the Companies Act, 2013, and the rules made thereunder ("Act"). Effective from 1 April 2024, SS-1 and SS-2 ...
11-Apr, 2024
The Ministry of Corporate Affairs has raised the threshold limit for Mergers and Amalgamation which requires prior approval of Com-petition Commission of India (“CCI”). As per the amendment, in case the acquisition target has asset value of ...
15-Mar, 2024
The RBI has revised certain provisions of the Master Direction on PPIs, permitting issuance of PPIs for payment in public transport. A vast number of commuters are served on a daily basis by public transportation systems around the country. ...
10-Feb, 2024
The Ministry of Commerce and Industry with the aim to improve product quality has mandated quality norms for electric accessories. The goods such Boxes and Enclosures for Electrical Accessories; Cable Trunking and Ducting Systems; ...
09-Jan, 2024
The ROC imposed a penalty on the company for non-compliance with the provision mandating a minimum number of directors on the board as stipulated in the Companies Act, 2013 (“Act”). According to the Act, a private limited company must have at least two directors on its board. However, ...
11-Dec, 2023
The MCA has notified the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 (“Rules”), amending the provisions of the Companies (Prospectus and Allotment of Securities) Rules, 2014, wherein the MCA has inserted certain new sub-rules as elucidated ...
14-Nov, 2023
MCA has clarified that the process of name reservation and incorporation applications at the Central Reservation Centre (‘CRC’) is faceless and randomized in its entirety. MCA further explained that applications sent for resubmission are generally not processed by the same official who ...
11-Oct, 2023
MCA has notified the LLP Second Amendment Rules, 2023 that amends the provisions of the LLP Rules, 2009, wherein MCA has substituted the e-form(s) related to LLP Agreement including changes therein; and filings for appointment, cessation, change in ...
19-Sep, 2023
Both the houses of the Parliament of India have passed the Bill that aims to halve the maximum time for completing mediation proceedings from the present 360 days to 180 days. The Bill also provides provisions for setting up of the Mediation Council ...
10-Aug, 2023
The RBI has issued a draft circular for public comments wherein they have pro-posed Banks to have no exclusive agreement with the card networks; Credit, Debit and Prepaid cards to be issued across more than 1 card network and the customers to be given a choice to choose their card network. ...
17-Jul, 2023
MCA has notified the Companies (Accounts) Second Amendment Rules, 2023 that amends the provisions of the Companies (Accounts) Rules, 2014, wherein companies who are required to file e-form for return on Corporate Social Responsibility, has to file such e-form separately, for the financial ...
07-Jun, 2023
MCA has notified the Companies (Removal of Name of Companies from the Registrar of Companies) Second Amendment Rules, 2023 that further amends the provisions of the Companies (Removal of Name of Companies from the Registrar of Companies) Rules, 2016. Now companies cannot file ...
09-May, 2023
The Ministry of Electronics and Information Technology has notified the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2023 (“Amendment”) to amend the previous rules of 2021. The most notable addition through the Amendment is ...
12-Apr, 2023
The key features of Foreign Trade Policy 2023-28 include shifting of approach from incentives to a remission and entitlement-based regime; streamline SCOM-ET (Special Chemicals, Organisms, Materials, Equipment and Technologies) poli-cy; Districts as Export Hubs (DEH) initiative; Four new towns ...
11-Mar, 2023
MCA has advised the director(s) including new directors who will be signing the e-form(s) for undertaking filings on behalf of a company as signatories on V3 portal are to register themselves(s) as a Business User by creating Business User login on V3 portal and link their Digital Signature Certificate, ...
09-Feb, 2023
MCA has notified Companies (Registration Offices and Fees) Amendment Rules, 2023 that amend the provisions of Companies (Registration Offices and Fees) Rules, 2014, wherein any e-form to be filed with Registrar of Companies (“ROC”) by a company (under insolvency or liquidation), shall be signed ...
11-Jan, 2023
MCA has launched a new service, E-Sahaj Sewa, an online security clearance portal for individuals who are citizens of countries sharing land borders with India and intend to secure the mandatory security clearance from Ministry of Home Affairs for issuance of Director Identification Number ...
12-Dec, 2022
IBBI has issued a circular under which a revised format of Annual Compliance Certificate for Insolvency Professional Agencies (‘IPA’) has been introduced which has to be submitted by all registered IPA to the IBBI within 45 days from the closure of the financial year. ...
07-Nov, 2022
The Registrar of Companies, NCT Of Delhi & Haryana (“ROC, Delhi”) has penalised a company for non-compliance of the relevant CSR provision under the Companies Act, 2013 (“Act”) for not transferring the unspent CSR amount to any of the specified Funds within a period of 6 (six) months from the ...