Historically, corporate reporting focusing mainly on financial performance of companies, their historic performance and their key financial indicators, provided pointers to stakeholders about present and potential performance of the companies. Of late, these reports have started including sections on corporate strategies, social and environment concerns and actions being taken up by the companies.......

Dear Friends,   Now season of Annual General Meetings is started and many companies are declaring Dividend also. Where few issues are arising for how to treat Dividend payment and TDS on the same.   Union Finance Minister Nirmala Sitharaman announced in Union Budget that she is abolishing Dividend Distribution Tax, commonly known as DDT on companies. She also introduced a new TDS Sec......

The government announced some leeway for small and medium companies in the Goods and Services Tax (GST) framework during the GST council meeting. The relief came in the form of reduced penalties and interest for small and medium companies. The government has announced relief by the way of waiver or reduced late fee and interest for delayed filings and payment of taxes by the dealers who have a tu......

FEMA And International Taxation Perspective ACQUISITION AND  TRANSFER OF IMMOVABLE PROPERTYA NRI or an OCI may acquire immovable property in India other than an agricultural land or farm house or plantation property. POI as a category is no longer eligible to acquire immovable property as it is merged with OCI. MODES OF CONSIDERATIONProvided that the consideration, if any, for transfer, sha......

Ministry of Micro, Small and Medium Enterprises on 26th June 2020 has officially notified the criteria for calculation of Investment and Turnover for MSMEs. The notification outlines the new classification of MSME that was introduced on 1st June 2020, which is as per the table below along with detailed plan of registration and other requirements.   Type Investment in Plant &a......

DPIIT (ERSTWHILE DIPP) ISSUES STANDARD OPERATING PROCEDURES TO DECIDE FATE OF FDI UNDER APPROVAL ROUTE System of approving foreign investment proposals in India by an inter-ministerial body is now officially replaced with approval by distinct administrative ministries / departments in accordance with the standard operating procedure issued by DPIIT (ERSTWHILE DIPP). Foreign investment pr......

Due date for income tax return for the FY 2019-20 (AY 2020-21) has been extended to 30th November, 2020 by the CBDT vide Notification No 35/2020. Hence, the returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 can be filed upto 30th November, 2020.   However, Tax filing comes with Tax payments and with that comes Interest levy under section 234A/B/......

The Reserve Bank of India (“RBI”) on 25th June 2020 issued a circular directed to all Banks and NBFCs regarding Digital Lending Platforms, wherein RBI has emphasized adherence to Fair Practices Code and Outsourcing Guidelines.   The circular points out the existence of “digital only” lending institutions registered with the RBI along with the ones having a “bri......

The launch of the Sustainable Development Goals (SDGs) by the United Nations in 2016 has brought the world together in a mission to end poverty, fight inequality, and tackle climate change. Meanwhile, a bond market aimed at financing projects with social issues has emerged and deepened, supported by a growing number of investors who have begun to embed ESG (Environmental, Social, and Governance) s......

Dear Professional Colleagues,The business world today is highly volatile, uncertain, complex and ambiguous. Companies are testing and adopting newer business models to grab markets and ensuring sustainable growth.In order to get where we want to go in the long haul, it's important to take a look at where we stand today. It's even more important to put together smaller goals to make sure we're gett......

Traditionally, the way we measure economic success is by economic growth via metrics such as GDP. Classical economics propagated the theory of effective markets and underlined performance/output. This led to the use the macroeconomic term Gross Domestic Product (GDP) for measuring economic growth of countries. GDP is the aggregate monetary value of the goods and services produced in a country in a......

Definition:- Government assistance is action by government designed to provide an economic benefit specific to an entity or range of entities qualifying under certain criteria. Exclusion:- Government assistance does not include benefits provided only indirectly through action affecting general trading conditions, such as the provision of infrastructure in development areas or the imposition of......

A. Background of provisions relating to Annual General Meeting   When : Section 96 of the Companies Act, 2013 (“the Act”) and para 2 of SS-2 requires that all companies registered in India, other than a One Person Company, is required to hold an Annual General Meeting (AGM) each calendar year in addition to other General Meeting. A newly incorporated company is require......

Date: 03 June 2020 COVID-19 was declared as Pandemic and a Disaster. On March 24, 2020, nationwide 1st Lock Down was announced to curb the spread of the COVID-19, which was as per the directives of National Disaster Management Authority (NDMA) issued under Disaster Management Act, 2005. Considering the increase in number of infections and patients, NDMA continued with Lock Down one after the othe......

NOMINATION IN CO-OPERATIVE SOCIETIES DOES NOT OVERRIDE THE LAW OF SUCCESSION   I. INTRODUCTION Transfer of flat/ shares of the deceased member in a co-operative housing society under the Maharashtra Co-operative Societies Act, 1960 [MCS Act] has been in debate for past several years. Hopefully, the controversy is now put to rest by the recent amendment to MCS Act [which came into effect fr......

May 05, 2020 -  MCA General Circular No. 20/2020 dated May 05, 2020   On April 08, 2020, Ministry of Corporate Affairs (MCA) had issued a General Circular No. 14/2020  (Circular-1) for passing of resolutions of members in the Extra Ordinary General Meeting (EGM) for Special Business (Not Ordinary Businesses) during this period of nationwide lock down and up to June 30 ,2020 ......

A. Background Sustainable Development Goals (SDG) : Sustainable Development Goals (SDGs) were adopted on September 25, 2015 by 193 countries as a follow up to the Millennium Development Goals. The Sustainable Development Goals provide a powerful framework for businesses to engage in corporate social responsibility. Corporate is required to support the government for achieving SDG through CS......

(Self- Reliant India Movement)   A. Background   On 13th May 2020, the Prime Minister Shri Narendra Modi announced his Vision calling for 'Atmanirbhar Bharat Abhiyaan' (Self- Reliant India Movement). He proposed Five pillars of Atmanirbhar Bharat (1)Economy (2)Infrastructure (3) System (4) Vibrant Demography and (5) Demand.   *Prime Minister’s pledge of a total spending ......

Payment Gateway Set UP Fee   A one-time fee – applicable at the time of PG integration with your system i.e on your website/application, This is non-refundable, and The is non-recurring. This fee is to cover the essential expenses of engagement of New Merchant includes Site Visit, Physical Verification, Document verification, and KYC of business. Bank Connectio......

Definition of NBFC   An NBFC is a Company registered under the Companies Act, 1956 (‘Act, 1956’) or Companies Act, 2013 (‘Act, 2013’) and is engaged in the business of financial institution.   Section 45I(f) of the RBI Act, 1934 defines ‘‘Non-Banking Financial Company’’ as a financial institution which is a Company; a non-banking ......

When a Company Substantially wants to increase its financial reserve for expansion or acquisitions to paying down debts after its incorporation then it considers economically viable to increase its Subscribed Capital by the Further Issuance of Shares. Section 62 of the Companies Act, 2013 specifically mentions about provisions related to Further Issuance of Shares. A Right Issue is an offer made......

In December 2019, a novel coronavirus called SARS- CoV-2 has resulted in the outbreak of a respiratory illness known as COVID-19. COVID-19 is a highly contagious infectious disease that the newly identified virus SARS-CoV-2 causes. SARS-CoV-2 belongs to the family of viruses known as coronaviruses. Origin with History As a specific family of viruses, coronavirus or COVID-19, which i......

Section 12 and 13 of the Companies Act, 2013 and Companies (Incorporation) Rules, 2014 states the law and procedure regarding having a registered office of the Company and shifting of registered office of the Company.Provisions relating to shifting of the registered office from one state to another are contained in Section 13(4) of the Companies Act, 2013 which are detailed in rule 30 of The Compa......

  Amendment Due to Introduction of Finance BillA. Change In Tax Rates/ Slab RatesTax Rates for Individual, HUF, AOP, BOI and Artificial Judicial Person (other than opting for Sec 115BAC)↓                  ↓                    ↓   Individual (......

background PM Shri Narendra Modi, announced on dt. 24.04.202 nationwide lockdown to prevent “Covid -19” in India for 21 Days from dt, 25.03.2020. All activities commercials and non-commercials closed in country except exclusion given as per order issued with guideline as per:-  1) Order No.40-3/2020-DM-I (A) GOI, Ministry of Home Affairs dt. 24/03/2020(As amended time to time) ......

  Why look out for this term?   In view of the recent and ongoing massive pandemic outbreak of COVID -19, several contracting parties may find it extremely difficult to perform their respective obligations under the existing contracts in such unforeseen circumstance. Hence, clarity is sought on “force majeure” clauses forming part of such contracts and the recourse availab......

According to section 2(68), Private Company means a company which Restricts the right to transfer its shares; Limit the number of members to two hundred; Prohibit any invitation to the public to subscribe for any securities of the company; Therefore from the above definition it is clear that a Private limited company restricts the transfer of shares. There is a restriction on a......

Introduction: Ministry of Corporate Affairs (MCA) in furtherance of their Circular No. 11/2020, dated 24th March 2020, has given an opportunity vide their Circular No. 12/2020 dated, 30th March 2020 to the Companies registered under Companies Act 2013 (Act) to make a fresh start. As per Act, the Companies are required to make Annual Statutory Compliances and to file various other statement, ......

Know All about Section 144 (with recent special words)   Section 144 of Criminal Procedure Code Power to issue order in urgent cases of nuisance of apprehended danger   (1) Who Can issue order: Order can be issued by District Magistrate, Sub-Divisional Magistrate or Executive Magistrate specially empowered by state Govt.   Why need to issue order: On sufficient ground of imme......

It is the time for all the stakeholder to in the finance sector to revisit its contractual obligations. This Covid-19 impacted the country at the time, when Govt. is working to strengthen the finance sector and which has been derailed due to giant NBFC crises, high rise in the banks NPA, high loan defaults and many more reasons. This pandemic will put more pressure this sector which already strugg......

The word pollution comes from Latin word pollute that simply means contamination. Hence, in layman terms, it means contamination of environment. Spell mean of Pollution:P = Palpitate of Humans Life O = OrnateL = lethal for humansL = load on human body T = total thunder in life I = InjuriousO = OverdoseN = Nature/Nation Pollution types:   Pollution  various types  of  pollut......

Introduction: As per the Companies Act, 2013 mainly there are two types of companies: Private Company Public Company Private Company is defined in section 2(68) of the Companies Act, 2013 “is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members restricted to 200 which does not offer or trade its company ......

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs. The activity of setting up a business or businesses, taking on financial risks in the hope of profit. The best example of entrepreneurship is the starting of a new business venture. The entrepreneurs are of......

Recovery of tax demand in high pitched assessments assumes more importance when ultimate tax collector i.e. Government is in direct need of funds. As per estimates, around 10 Lacs Crore of Income Tax demand is pending in litigation and major portion of outstanding tax demand is determined in last 3-5 years' time span. Generally, 30 days' time period is allowed to the assessee for payment of deman......

MAMTA BINANI & ASSOCIATESCompany Secretaries INTRODUCTION:Under a new regime for Arrangements, an option given is to the certain class or classes of Companies to use the Fast Track process contemplated under Section 233 of the Companies Act, 2013. In short, we can say that Companies Act has provided a scheme of fast track mergers, dispensing with cumbersome procedure laid down for certain cla......

As part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘Spice Plus’) replacing the existing SPICe form, for reservation of names and incorporation of a company. Earlier, one had to upload PDFs. This is now replaced with the n......

Analysis of CARO, 2016 vs CARO, 2020 CARO 2016 CARO 2020 Difference Clause No. Matter Clause No. Matter   Issue date of CARO, 2016 is 29th March, 2016.   Issue date of CARO, 2020 is 25th February, 2020.     The effective date of its applicability is for Audits of F.Y. 2015-16 and onwards.   The effective date of its applicability is fo......

"Tareekh pe tareekh, tareekh pe tareekh, tareekh pe tareekh milti gayi, par woh notification nahi aaya" !!   And finally there comes a notification which states the "Manner of making PAN inoperative". This assures the fact that after multiple extensions of due date for linking PAN and Aadhar, finally the due date coming up i.e. 31st of March 2020 will not get further extended.   CBDT......

Latest Budget 2020 for readers presenting an optimistic view by mentioning a few positives of Budget 2020.   What's Good for the Taxpayers in the Budget 2020!!   "Amidst all the talks of the latest budget being a failure in giving the required stimulus to the markets and effortless relief to the taxpayers, let's have a look at the brighter side of the budget.  Here are some of ......

Tip No 1: The most important thing in articleship is "Ownership" of the job given. Once you start thinking that the client and the work you are handling are your own and not your boss's, you will surely love working on that assignment and due to the ownership feeling, you will try to give your 100% into it! Tip No 2: Cross application of knowledge gained at CA Final Classes or during CA Final s......

1. Who can file an appeal to the Appellate Authority? Any taxpayer or an unregistered person aggrieved by any decision or order passed against him by an adjudicating authority, may appeal to the Appellate Authority, within three months from the date on which the said decision or order is communicated to such person. 2. What are the pre-conditions to file an appeal to the Appellate Authority? Or......

Introduction of Insolvency & Bankruptcy Code, 2016 ´The Insolvency Code is a landmark piece of legislation to consolidate and codify law related to Insolvency of both Corporate Persons and Natural Persons. ´It was introduced on or about December 2016 and was notified only with respect to Corporate Persons i.e. Public and Private Limited Companies and Limited Liability Partnersh......

This is high time for the entities which have to comply with the provisions of Transfer Pricing (TP) under Income-tax Act, 1961 (the Act) i.e. only 5 days left for filing of the various forms under the Act as the due date is 30th November, 2019 for AY 2019-20. There are six methods prescribed under the as per section 92C(1) of the Act, which are: Comparable Uncontrolled Price Method (CUP......

Hardika: Hey Swami... Why can't you focus on your studies and career now? Swami:Yaar!!! I am trying hard to get focused but I am unable to do it. Hardika: why, what's bothering you?? Swami: Frankly speaking, I don't know where I am going... I want to be like you but I am not getting anidea about how can I proceed. I am not able to concentrate on my studies. Hardika:Ohh!!! Bus ittisi bat... Koi......

The Ministry of Corporate Affairs (MCA) vide notification dated 16th October 2019 has published the Companies (Incorporation) Eighth Amendment Rules, 2019 to further amend the Companies (Incorporation) Rules, 2014. DOWNLOAD HERE 890f5f3fc9b593a1d24162cef528ea63.pdf The Amendment shall be effective from 16th October 2019 Key Amendments from the notification: RULE 8A -   The ......

Background: U/s 4 of the Income Tax Act, 1961 income tax is payable by “every person”. U/s 2(31), Person is defined to include a Hindu Undivided Family (HUF). Section 3 of the Wealth Tax Act, 1957 also indicates that wealth is chargeable to tax in respect of the net wealth of any HUF. Definition: The expression “Hindu Undivided Family” has not defined under the Income Ta......

Benami Property Law-Doff the Mask of Real Owner The Benami Transactions (Prohibition) Act, 1988 on 19.05.1988 in India was brought into force by government to stop the Benami Transaction where original owner of some property with the intention of curbing the illegal transactions wore a mask of some different person to hide his ownership and to enjoy the property acquired by him from illegal means......

Mandatory Compliances for Unlisted Public Limited Companies and Private Limited Companies Company shall print its CIN No. on its letter heads, business letter etc. [Section 12(3)] Paint/affix the name and address of registered office outside place of business, engrave name on the seal and mention name and registered office address in all its business correspondences, negotiable instrumen......

GST Council is the governing body of GST having 33 members. It is chaired by the Union Finance Minister Nirmala Sitaraman. GST Council is an apex member committee to modify, reconcile or to procure any law or regulation based on the context of goods and services tax in India. Important Notifications ced79d99f14debb3708cfcf108257868.pdf issued by Central Board of Ind......

Draft Guidelines for setting up of and operating TReDS   Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country, continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. In order to address this pan-India issue through setting ......

Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country, continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. In order to address this pan-India issue through setting up of an institutional mechanism for financing trade receivables......

GST stands for Goods and Services Tax. It is a destination-based tax. It is levied on the supply of goods or services or both in India. It can be called the Single biggest tax reform undertaken since Independence. It eradicates tax on tax and is a boost for MAKE IN INDIA. In simple words, GST is a VAT on the supply. India has adopted the dual GST model i.e. Centre and States will simultaneously t......

Mandatory compliance pursuant to the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019Download Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 here 47310fc1aa67200ae8ccf60d40638279.pdf The Ministry of Micro, Small and Medium Enterprises vide notification date......

Business Development “Your Business Success Is Our Business.” Sets targets and creates action plans. Capacity to establish a brand. Sets realistic aspirations with customers. Comprehensive knowledge of the agency business. Business Development Business development is a constantly developing theory that can be approached from different viewpoints. Basically business developme......

Background: Hope all of you are doing great, this write up will be helpful for the small businesses that are searching to recover their outstanding from corporate and other entities. Government of India has taken the number of measures for the promotion and development of MSME ie., Micro, Small and Medium Enterprises as it is being presumed that this sector is very critical for the overall devel......

NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Company Appeal (AT) (Insolvency) No. 671 of 2019 [Arising out of Order dated 28th June, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata in CP (IB) No.1214/KB/2018]   IN THE MATTER OF: State Bank of India, Stressed Assets Management Branch – II, 1st Floor, Jeevan Deep Building, 1 M......

The Hon’ble NCLAT has in a crucial decision held that the NCLT has the powers to declare moratorium prior to admission of the petition against the corporate debtor. In the case of “NUI Pulp and Paper Industries Pvt Ltd v. M/s Roxcel Trading GMBH”, an appeal was filed by M/s NUI Pulp and Paper Industries Pvt Ltd (Appellant/Corporate Debtor) against the order of the NCLT, Chen......

COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Company Appeal (AT) No. 180 of 2019 [Arising out of Order dated 7th Law Tribunal, Chandigarh 39/Chd/Hry/2018] June, 2019 passed by the National Company Bench, Chandigarh in CA (CAA) No. IN THE MATTER OF:   J U D G M E N TDLF Phase-IV Commercial Developers Limited & Others, Company Appeal (AT) No. 180 of 2019,......

IMPORTANCE OF ECSIN AND UDIN:   UDIN is Unique Document Identification number is system generated 18 digit number which needs to be mentioned on the documents either by printing or it can be handwritten on the document issued. This 18 digit number means first 2 digit means of the year (Current year i.e. in case of 2019 it would be 19) Next 6 digit would consist of the membership number (A12......

  The uniform system of taxation, which, with a few exceptions of no great consequence, takes place in all the different parts of the United Kingdom of Great Britain, leaves the interior commerce of the country, the inland and coasting trade, almost entirely free. The inland trade is almost perfectly free, and the greater part of goods may be carried from one end of the kingdom to the other,......

Credit shall be allowed on the stock of coal on which Clean Energy Cess has been paid in the erstwhile law and thus payment of Compensation Cess under GST shall not be required if the assessee has proper documents to claim the credit of such cesses paid – Delhi High Court. The summary is based on the interim order. The matter was posted on 26.10.2017 – however, the status of the case ......

The Hon’ble Supreme Court today passed a landmark judgment wherein the constitutional validity of the Insolvency and Bankruptcy Code, 2016 was upheld in its entirety. The Hon’ble supreme Court had made certain observations and the major issues decided in the judgment given by the Bench of Justice Rohinton Nariman and Justice Navin Sinha on 25.01.2019 are as follows: I.  &nbs......

  The Ministry of Corporate Affairs vide notification dated April 30, 2019, amended the Companies (Acceptance of Deposits) Rules, 2014 by promulgation of the Companies (Acceptance of Deposits) Second Amendment Rules, 2019.   With the said amendment, the deadline for one-time filing of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause ......

Food Safety and Standards Authority of India (FSSAI) has presented innumerable improvements towards complete assurance of fairness and regularity in the progressing Food sector. Recently, a portion of the key reforms actualized in this direction, for example, the food security review led crosswise over India, and the regular examination of FSSAI registration and FSSAI license among the food busine......

Benefits and Required Information In order to estimate Digital payment transactions in Micro, Small and Medium Enterprises, you are requested to furnish information about the Digital transactions made by your enterprise. The use of Digital transactions offers incentive in the form of cash back and discounts. Secondly,it’s use also improves the credit score of an individual/enterprise. .&n......

Looking For Recovery of Bad Debt? Have you been haunted continuously by the nagging question of how to recover my bad debts? The most viable solution comes up from the Insolvency & Bankruptcy Code (IBC), 2016; a platform which provides relief from bad debts. If the value of debt exceeds rupees one lakh, then there is a legal tool provided by IBC where the creditor can initiate ins......

Startup India is an initiative of the Government of India. The campaign was first announced by Indian Prime Minister, Narendra Modi during his 15 August 2015 address from the Red Fort, in New Delhi. The action plan for this initiative is based on the following three pillars: Simplification and Handholding. Funding Support and Incentives. Industry-Academia Partnership and Incubati......

Companies and corporates have offered various Employee Stock Ownership Plan (ESOP) for a long time, to their upper-level executives for the sole purpose of motivation and retention. There are several stock-based compensation plans that do not actually use the stock itself but substitute it with hypothetical units or cash benefits. The reasons for this shift are manifold: The owners do......

More Compliances For Companies! The Ministry of Corporate Affairs (MCA) vide its notification dated 21 February, 2019, mandates every company that has been incorporated on or before 31 December, 2017, to file e-form INC-22A. The Active Company Tagging Identities and Verification (ACTIVE), through a new form viz. INC-22A, has been initiated based on Rule 25A of Companies (Incorporation) Amen......

Know all about this e-Form INC -22 A for Company KYC With regards to the latest E-form INC-22A (Active) introduced by MCA, Every company incorporated on or before the 31st December, 2017 shall file the particulars of the company and its registered office, in e-Form ACTIVE INC-22A. The major point worth noting is that the due date of filing Form INC-22A is June 1......

Error - “Failed to establish a connection to the server. Kindly restart the Emsigner”   Follow the steps below:   1). Uninstall previous Emsigner and Download latest Emsigner from GST Site. 2). Install latest the PKI Driver in your computer.      (Refer link : https://www.dscwizard.com/download)   3). Google Chrome: Open Chrome ......

INTRODUCTIONThe insolvency and bankruptcy code 2016, is the umbrella law that caters to all insolvencies and reorganizations taking place in our country. In comparison to other laws prevalent in our country, it is too new as the provisions relating to insolvency as well as liquidation of corporate persons came into force on December 01, 2016. WHAT DO YOU MEAN BY DUE DILIGENCE?‘Due dilig......

ESOP and Phantom Stock, both are ways and means of incentivizing employees who hold strategic positions in a company, as they realize that the most precious asset of a company is human resources. But answering this crucial question needs critical analysis of both the options, furthermore, comprehending the pros and cons associated with them. What Is ESOP? Why Is It Given? Employee Stock Ownersh......

Opportunity to Reinstate License lost due to Insufficient Capital The Reserve Bank of India (RBI) sought to regulate the activities of NBFCs through the Reserve Bank of India (Amendment) Act, 1997. Section 45-IA was added to the RBI Act which makes it mandatory for NBFCs to obtain a Certificate of Registration (CoR) and to maintain a Net Owned Fund (NOF). “Keep in mind- The Act prescribes......

Frustrated By Overdue Debtors? If you are one of those many who is burdened by bad debt, then lots of your precious time and energy must be going in deciding how to recover my debt! Recovery of bad debt can be a nightmare for any creditor, whether financial or operational. Chasing or running after debtors, is a well-known fact, that generally does not bring positive results. Effective Solution ......

Incentivizing Key Management Members is of Paramount Importance! First of all, let’s analyze why incentivizing of key management workers, through ESOP, is crucial for all the companies! Employee Stock Ownership Plan (ESOP) is highly significant in today’s high-tech economy, as cut-throat competition makes it mandatory for companies to provide incentives to retain employees plus keep ......

BACKGROUND The Ministry of Corporate Affairs (MCA) had in June 2018, notified amended section 90 of the Companies Act, 2013 (2013 Act), and also issued the Companies (Significant Beneficial Owners) Rules, 2018 (SBO Rules). However, implementation of the SBO Rules was kept on hold in view of the representations received from stakeholders. The Ministry of Corporate Affairs has now vide its Notifica......

In a bid to implement the government’s mission to make India a cashless or less cash country and weed out corruption, the Income Tax Department has again warned people to refrain from large cash transactions, contravention of which may result in the levy of penalty or disallowance of tax deductions.   Following are the five transactions that Income Tax Department doesn’t want yo......

Companies (Acceptance of Deposits) Amendment Rules, 2019 Notification Date - 22nd January 2019 Summary:- 1. Every company receiving monies deposits, loan, ICD, advances, etc. is required to file DPT-3 annually.2. One time return for every company who have outstanding monies which are not deposits as per rule 2(1) (c) (Specified in Annexure-1.) Meaning of Deposits Section 2(31) - Deposits in......

Venturing into Non-Banking Financial Companies (NBFCs) sector has become easier post demonetization. Realizing that the banks alone cannot cater to the financial demands of all Indians, the Reserve Bank of India (RBI) has simplified the norms for new entrants in this field. NBFCs have created a niche for themselves as they have aggressively strategized to fill in the gap that exists between the b......

If you are a creditor who feels at the end of a tunnel because you are not able to recover your debt from various sources, you must be extremely anxious! Debt collection is a time consuming and torturous task, not possible to be done on your own especially if the debtor has no intention of coming out clean. What’s the way out? A harassed creditor needs to take help from professional debt c......

Understanding the Concept of Phantom Stock: It is an open secret that every business needs highly motivated and dedicated employees to achieve its optimum growth. Along with it they also need to retain their key employees so that they are not lured by their rivals. Incentives and perks of varied nature is a common method through which the companies make sure that their employees don’t aband......

Are you a disqualified director whose DIN has been deactivated because of non-compliance by your company/companies? Are you in the belief that your career has come to a halt for the next five years? Take heart and get first-hand information about the reason for your disqualification, then find out your rights as to overcome this situation. In 2017, the Ministry of Finance (MCA), in its zest to er......

Are you one of the Directors who was caught unawares and was struck by the new rules of the Companies Act, 2013? Your DIN has been deactivated by the Registrar of Companies (ROC) as a result of the struck-off company? The Past has a cascading effect on the Present: The googly of non-compliance has hit hard on at least 3.2 lakh Directors who were associated with struck off companies. As a mandato......

Dear Connects,   Today the topic with which I am dealing with is "Process to apply for Director Identification Number DIN"   Introduction:   Q.1. What is the Director Identification Number (DIN)?   A. DIN is an 8-digit Unique Director Identification Number allotted by the Central Government to any person intending to become a Director/Designated Partner of  a compa......

1.Introduction: Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. MSMEs not only play a crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in the industrialization of rural & backward areas, thereby, reducing regiona......

S. NO. FORM INTRODUCED ON DUE  DATE OF FILING OF FORM APPLICABILITY & PURPOSE FEES& PENALTY INFORMATION/DOCUMENTS REQUIRED EXEMPTIONS 1. ACTIVE FORM-INC 22A Ministry of Corporate Affairs on 21-02-2019 has brought a new concept Active Company Tagging Identities and Verification by the Companies (Incorporation) Amen......

Ministry of Corporate affairs after the introduction of Director KYC through e form DIR-3 KYC has decided that KYC of the Registered office of the Company shall be there, accordingly Ministry of Corporate Affairs has introduced a concept of ACTIVE (i.e. Active Company Tagging Identities and Verification) to tag the identity of the Company i.e. the Registered office of the Company.   Origin ......

Are you a completely dejected, disqualified director of a strike-off company? Are you feeling as if you have missed the last bus as your company did not avail CODS benefit and now you have to wait for five long years to get your DIN activated? Take heart, it’s not so! There are ways and means within your reach through which you can restore your career! Be aware & updated of your rights......

Introduction: The Indian Government is all set to improve the start-up ecosystem of the country and thus a plethora of initiatives have been initiated over the past few years. In this context, now more than ever before it has become immensely important to re-evaluate the Indian start-up environment from a variety of regulatory and legal perspective. Recent reforms brought in by the Government: ......

Introduction   In a clean-up exercise in 2017-18, the Ministry of Corporate Affairs had struck-off more than 2,00,000 shell companies out of 15 Lakhs Registered Companies from their records for not filing Annual Returns and Balance Sheet.   During this financial year 2018-19, a total of 2,25,910 companies have been identified for action under Section 248 of the Act and after followin......

IMPORTANT POINTS 1. APPLICABILITY   (1) These rules may be called the Companies (Incorporation) Amendment Rules, 2019 (2) They shall come into force with effect from 25th February, 2019 2. INSERTION OF NEW RULE 25A   25A. Active Company Tagging Identities and Verification (ACTIVE):   Every company incorporated on or before the 31st December, 2017 shall file the particulars ......

Madras High Court gives a Fighting Chance to NBFCs: Opportunity to Reinstate License lost due to Insufficient NOF   The Reserve Bank of India (RBI) sought to regulate the activities of NBFCs through the Reserve Bank of India (Amendment) Act, 1997. Section 45-IA was added to the RBI Act which makes it mandatory for NBFCs to obtain a Certificate of Registration (CoR) and to maintain a Net Ow......

The Author is Associated with Mamta Binani & Associates, Company Secretaries  The Capital market regulator has been continuously taking steps in the direction to strengthen and improve the compliance and corporate governance structure of listed Companies thereby coming up with regulatory requirements to be compiled by the listed entities to adhere to the regulations in letter and spirit.......

Maintaining of Books of Accounts at Place other than Registered Office of the companyAs per Section 128 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 states that every company shall keep books of account, important papers and statement at the registered office of the company. This books of account should be kept on an accrual basis (as occurred) and as per the double en......

As its name suggests Employee Stock Ownership Plan is an extensive employee benefits offering that works as a meaningful way to drive employee satisfaction, motivation and retention. Whereas the employee benefit plan such as medical, life and disability insurance plan, retirement benefits plan, paid-time-off benefits provide financial security to employees, Employee Ownershi......

Did you get Disqualified from Directorship? Ministry of Corporate Affairs (MCA) vide its sterndrive towards taming ‘Corruption’ took a very strict action on errant Companies and as a result in 2017 alone 2.2 lakh companies were struck off and 3.1 lakh Directors were barred for 5 years as their DINs were deactivated.                    ......

Introduction   MSME stands for Micro, Small and Medium Enterprises., MSME industries are the backbone of the Indian economy. **As per RBI data, India’s MSME sector contributes to nearly a third of the gross domestic product, accounting for about 45% of manufacturing output and 40% of the country’s total outward shipments. [**News source: https://rbidocs.rbi.org.in/rdocs/MintSt......

Ease of Recovery of Bad Debt through Insolvency for Manufacturers/Suppliers/Service Providers Are you seeking a solution to recover lost money or are you suffering from bad debt?If you are a manufacturer or a Creditor who has given a loan or provided services or supplied goods, etc. to a Company and the Debtor/Corporate debtor has not paid or defaulted on the payment, then the new Insolvency &......

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INTRODUCTION: The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute redressal. T......

Persons Eligible for Tax Audit: As per the provision of Section 44AB, any person having income or turnover from business exceeding Rs. 200 Lakhs or gross receipt from profession exceeding Rs. 50 Lakhs is required to get his accounts audited under the Income Tax Act, 1961. A person registered under Sec. 44AE claims that the profits or losses from the business are lower than that computed on the......

Are you seeking a solution to recover lost money or are you suffering from bad debt? If you are a manufacturer or a Creditor who has given a loan or provided services or supplied goods, etc. to a Company and the Debtor/Corporate debtor has not paid or defaulted on the payment, then the new Insolvency & Bankruptcy Code, 2016, is the answer to all your woes. How does the Insolvency & B......

ELIGIBILITY: Where a company is formed and registered under Companies Act, 1956 or 2013 for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such company or an inactive company may make an application to the Registrar for obtaining a status of the dormant company. Meaning of Inactive companies is those which has not been carrying on any ......

Recently, Ministry of Corporate Affairs has notified Section 12 of Companies Act 2013 vide Companies (Amendment) Act, 2017 which requires a Company to establish its registered office capable of receiving and acknowledging all communications and notices as may be addressed to it, within 30 days of its incorporation and at all times thereafter. The said provisions also mandate an intimation to Regis......

Foreign Tax Credit – Act, Rules, Treaties, and Judicial Precedents – Road to Confusion Ahead   Today, if one were to discuss the various provisions of the Income-tax, 1961 one area which would elicit different responses would be the mechanism for computation of Foreign Tax Credit.   Central Board of Direct Tax (‘CBDT’) set up a Committee to suggest the methodo......

Section 22 of the CGST Act, 2017 specifies the list of persons liable for registration and section 24 of the CGST Act, 2017 lists categories of persons who are required specifically to take registration even if they are not covered under section 22 of the Act. Following is a list:- Supplier: Supplier of taxable goods or services or both exceeding the specified threshold limit of Rs. 10 l......

Dear Professional Colleagues, In the era of globalization, trade barrier’s does not exist between countries due to which Multinational companies(MNCs) having a presence in many countries freely trade across the globe. Due to this presence in many countries, MNC’s enjoys the inherent advantages of trading globally such as lower prices, reduced interest rates, and higher credit period. ......

Dear Professional Colleagues,Ministry of Corporate Affairs vide its notification dated 10th September 2018 mandated the issue of securities in dematerialized form and facilitating dematerialisation of all its existing securities by unlisted public Companies which shall effective from October 02, 2018.   This is another step taken by the Ministry Corporate Affairs towards the cleaning proces......

Partner Mamta Binani & Associates Introduction The Investors invest in the securities of companies with an expectation that they will receive a good return on their investments. The investors get their return on investments by the way of dividend from the profits of the company as well as through corporate benefits like bonus shares etc. In case the investee company is listed, the investor......

Dear Professional Colleagues,   As per the Ministry of Corporate Affairs new amendment dated 10th September 2018 (http://www.mca.gov.in/Ministry/pdf/CompaniesProspectus3amdRule_10092018.pdf) requiring Admission for Unlisted Company for offering the facility of dematerialisation to shareholders.   In this regard, we wish to inform you that the Issuer may establish electronic connectiv......

Dear Professional Colleagues,As its name suggests Employee Stock Ownership Plan is an extensive employee benefits offering that works in a meaningful way to drive employee satisfaction, motivation and retention. Whereas the employee benefit plan such as medical, life and disability insurance plan, retirement benefits plan, paid-time-off benefits provide financial security to......

Dear Professional Colleagues,Bonus Shares are issued for capitalising the Profits and/ or Reserves of the Company. Companies Act, 2013 has provided distinguished provisions for the same unlike in erstwhile Companies Act, 1956 where reference had to be taken of the Articles of Association of the Company while doing so. As per sub-section (1) of Section 63 of the Companies Act, 2013: A Com......

Did you get Disqualified from Directorship? The drastic step of Mass Disqualification of Directors and deactivation of DINs by ROC has left the whole Industry flabbergasted and startled. This is not a roadblock but a beginning in the line with Compliance module. Directors are being provided with various opportunities to get their Disqualification Removed and DIN Restored even if they are not......

TEAM MAMTA BINANI & ASSOCIATES As the title suggests E-Form DIR 3 KYC is a reform in the corporate world. But a question also comes to mind regarding DIN (Director’s Identification Number) and DIR 3. It is a known fact that to become a Director one has to apply for DIN in Form DIR 3 and for any modification in the form it is done in Form DIR 6. E-Form DIR 3 KYC has been introduced by Ce......

30th July, 2018   Dear Professional Colleagues,                                      Subject: Companies (Amendment) Act, 2017 and Companies (Incorporation) Third Amendment Rules, 2018 – Reg. The Min......

(Notified on 5-July-2018)Applicability – All the Directors including Disqualified Director.Every Director who is having DIN on or before 31-March-2018 and whose DIN is in Approved Status has to file DIR-3 KYC eForm. This form would be duly certified by practising professional (CS\CA\CMA). Timing Of Filling – On or before 31-August-2018, Afterwards will be filed Annually. Details to b......

Vinita Nair and Pammy JaiswalPartner, Vinod Kothari & Companycorplaw@vinodkothari.com This note endeavours to provide clarity on whether domestic mutual funds can be regarded as an Investment Vehicle for the purpose of reporting foreign investment to RBI. Investment Vehicle & Mutual Funds: Meaning  ‘Investment Vehicle’ is defined under the FEMA (Transfer or Issue of S......

Dear Professional Colleagues, Every Director who has been allotted Director Identification Number (DIN) as on 31st March of a financial year shall submit e-form DIR 3 KYC to the Central Government on or before 30th April of immediate next financial year. But, for the current year, DIR-3 KYC is required to be filed on or be......

Dear Professional Colleagues & Seniors, Enclosed please find my compilation on Significant Beneficial Ownership. The above has been based on my understanding and interpretation of the provisions. Trust you shall find the same useful for your professional reference. ......

Dear Professional Colleagues & Seniors, As a measure for capacity building of Insolvency Professionals, it was being considered by IBBI to create a pool of Insolvency Associates, who will support IPs in carrying out their responsibilities as Para-staff. The program has been designed under the aegis of Ministry of Skill Development and Entrepreneurship. The inaugurati......

BRIEF BACKGROUND There’s more than one way to raise capital, and the very first option starts with you. If you’re not willing to invest in yourself, how can you expect anyone else to? Many successful entrepreneurs put nearly all their savings into their small business, and that helps catch the eye of investors because it’s clear you’re fully committed to the project. But w......

Introduction   The Investors invest in the Securities of the Listed Companies with an expectation that, they will receive a good return on their investments.   The investors get back their return on investments by way of dividend from the profits of the Company as well as bonus shares etc. These corporate action benefits are credited directly to the Demat Account of the respective sh......

CS Divya JainAssociate PartnerSR & Associates, Company Secretarieswww.csravibhushan.comIntroduction   In alignment with the Indian Government’s continuing efforts to bolster foreign investment and ease of doing business in India, the Reserve Bank of India (RBI) issued an important circular A.P. (DIR Series) Circular No.30 on 7th June, 2018 with the aim of simplifying reporting und......

Background: Identification of ultimate beneficial owners/ significant beneficial owners/ persons with significant control is not a new concept. The requirement exists globally as well as in India. SEBI[1] and RBI[2], for the purpose of client due diligence under KYC requirements, mandate identification of ultimate beneficial owners in case of clients being a company, partnership firm, LLP, Trust ......

Mamta Binani & Associates Amendment in SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015- incorporating amendments dated 7th May, 9th May and May 31st, 2018 (Classified on the basis of the dates from which they are to become effective) The said Amendments are effective in phases: few from current FY and few in next 2 FYs.  Amended  Regulations applicable ......

Introduction:           Section 230 of the Act deals with compromise or arrangements proposed between a company and its creditors or members.   Section 231 of the Act deals with the powers of the National Company Law Tribunal (the ‘Tribunal’) to enforce compromise or arrangement.   Section 232 of the Act deals with the compr......

Post the Insolvency Law Committee's Report recommending an overhaul in the Insolvency and Bankruptcy Code, 2016, the Government has passed the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, vide Notification dated 6th June 2018, in an attempt to set things right. No doubt, IBC has triggered positive vibes in the lending market, yet being an evolving law, it has its own drawbacks......

Team Mamta Binani & Associates AN OVERVIEW OF NOTIFIED SECTIONS OF COMPANIES (AMENDMENT) ACT, 2017 The Companies (Amendment) Bill, 2017 (‘the Bill’) had been passed by the Lok Sabha on 27th July 2017 and by Rajya Sabha on 19th December 2017 and received the assent of the President of India on 3rd January 2018 and the Bill become the Companies (Amendment) Act, 2017[1](hereinafter ......

Team Mamta Binani & Associates   On the 7th of May, 2018 the MCA brought in the following Circulars:   Companies (Prospectus and Allotment of Securities) Amendment Rules, 2018[1] Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2018[2] Companies (Meetings of Board and its Powers) Amendment Rules, 2018[3] Companies (Audit and Auditor......

Introduction SEBI on 9th May, 2018 has implemented most of the recommendations presented by the Uday Kotak Committee and has introduced the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018 (“Amendment Regulations, 2018”)[1], most of the amendment of which shall be applicable on listed entities from 1st April, 2019. ......

Stock Brokers in India  Online Share brokers in India act in a proficient manner while dealing with a number of investors throughout the Indian share market. Traders can commence trading in various market segments by opening a Best trading account and Demat Account with the help of top stockbroker. Akin to the fact, leading online share brokers also provide the Best Trading platform and Onli......

MISSED TO FILE THE RETURN OF INCOME OF EARLIER YEARS AND CLAIM REFUNDS OR BENEFIT OF CARRY FORWARD LOSS? Have you missed to file returns of earlier years and claim refunds or carry forward loss? If yes, then there is a way to claim the refund or carry forward loss and set-off thereof of the earlier previous year(s) (PY) of which the income tax return(s) were not filed from your end subject to ce......

Annual Filing Process for Registered LLP for the year 2018 and action taken by various RoC for not filing Annual Returns and Financial Statements Annual Filings of the LLP for the year 2018 are coming onto neck. Now every Limited Liability Partnerships (LLPs) which are registered with the Ministry of Corporate Affairs (MCA) have to file the Annual Returns and Statement of Accounts for the Financi......

Source_ICSI......

Start-up India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Start-ups to grow through innovation and design. The campaign was first announced by Indi......

“Change is not inevitable - it happens only when each of us does what we can.” Here are a few of the things that I think we all can do, regardless of where and who we are:   Know yourself In her inspiring conversation with Oprah, Michelle Obama shared her thoughts about the importance of knowing who you are. “I tell my mentees and I tell my daughters, that our......

Dear Professional Colleagues, As we all are aware that in September 2017 the government of India steps up its fight against the black money. The Government of India with the help of Ministry of Finance pushes ahead with the efforts to weed out shell companies (a term used for entities that have not been carrying out business for long and are allegedly used as the conduit for illegal fund flows) h......

INTRODUCTION As we all know that Central Government notified NCLT Rules, 2016 on 21st of July, 2016 in the official gazette. The provisions specify the professionals i.e., Company Secretaries, Chartered Accountants and Advocates who can practice before the NCLT or NCLAT. As we the Company Secretaries are new to this field, most of us find it difficult to file application or petition for the reviv......

INCORPORATION AND NAME RESERVATION - (NOW, BECOMES MORE SIMPLIFIED!!) On the Occasion of this 69th Republic Day, Government of India has made a new start of Incorporating a Company through 2 Services: A. RUN - Reserve Unique Name ServiceB. SPICE - Simplified Performa for Incorporating Company Electronically This is a unique initiative towards ease of doing business in India by the Governme......

Dear Professional Colleagues, This Amendment Will Apply To Assessment Year 19-20 &Subsequent Years. 1)The finance minister has proposed to increase cess on personal income tax and corporation tax to 4% from present 3%. This will increase the effective income tax an individual taxpayer pays. 2) A standard deduction of Rs 40,000 has been proposed to be introduced for salaried individuals in Bu......

Dear Professional Colleagues,Below is the Article on Analysis on Companies Amendment Act 2017.   You can also download my Article from this link.  ......

  1. No change in Tax Rate. All persons including individuals, HUF, Firms and Companies to pay the same tax. However, Education cess is being increased from 3 to 4 % to be known as Education and Health cess.   2. However for Domestic Companies having a total turnover or gross receipts not exceeding  Rs 250 crores in the Financial year 2016-17 shall be liable to pay tax at 25% as ......

BEPS Background The international tax system was born following the First World War, in a climate of financial instability and political uncertainty. It resulted from technical studies in the 1920s and international negotiations in 1928 through the League of Nations. The project on ‘Base Erosion and Profit Shifting’ (BEPS) has been the first major Global multilateral effort to amelio......

Initially, Companies Amendment bill was passed by Lok Sabha on 27th, July 2017 and the decision with regard to the passing of Bill passed by Rajya Sabha on 19th December 2017 but the Consent of President was still required. Now, the wait is finally over as on 3rd, January 2018, President gave his assent and the Companies Amendment Bill, 2017 passed and the focus of this amended Act, 2017 will be ......

Applicability: Every company having the net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or a net profit of Rs. 5 crores or more during the immediately preceding financial year. Every company including its holding or subsidiary, and a foreign company having its branch office or project office in India, which fulfils the criteria specified above shall comply with the prov......

The author in these editorial gives a brief overview of the Companies Amendment Act, 2017 and has classified the amendments in the most simplest and understandable manner. The President assented the Companies Amendment Bill, 2017 on 3rd January, 2018 and has proposed the 93 amendments in the Companies Act, 2013 with the said act i.e, Companies (Amendment) Act, 2017. Now to analyze the quantum of......

Ways & Instances of Reduction of Capital under Section 66 CA 2013   Reduction of excess capital;   Cancellation of all the share capital as a part of scheme of arrangement;   Reduction to rectify an irregular repayment or purchase of shares by the directors;   Paying off part of the shares out of capital in excess of wants so as to enable......

Paytm’s parent company One97 Comunications’ restructuring exercise wherein it separated its online retail from its payments business has helped it to overcome losses by over 40%, according to filings of Company with Registrar of Companies (RoC). The Company enter in E-Commerce platform into Paytm E-commerce (Paytm Mall) while it became a 49% shareholder in the payments......

  Pursuant to the assent granted by Lok Sabha on July 27, 2017, to the Companies (Amendment) Bill, 2017, the same was put in forth to the Rajya Sabha for its approval. Rajya Sabha on December 19, 2017, approved the same without any modification. The Amendment Bill, 2017 received President’s assent on January 3, 2018, and is now regarded as the Companies (Amendment) Act, 2017 (&ldq......

Dear Professional Colleagues, E-Way Bill is an electronically generated document which is required to be generated for the movement of goods of more Rs. 50,000 from one place to another. This document is required to be generated online for transportation of goods irrespective of whether such transportation is inter-state or intra-state. Under the GST Regime, generation of the e-way bill is compu......

Dear Professional Colleagues,In the past few weeks, selected Insolvency Professionals issued advertisement for Expression of Interest with a clause that requires a resolution applicant or an interested entity to obtain an official stamp from chartered accountants, certifying its eligibility. Some Insolvency professionals told prospective resolution applicants to submit a certificate from another ......

Background and Context Applicability: Eligibility and legality of framing RISK MANAGEMENT COMMITTEE: All Companies are equally eligible to safeguard their skin from the uncertainties associated with the atmosphere within its working. There are no provisions under any statue which restricts Companies from mitigating, minimizing and managing their risk.     Key Statutory Requiremen......

What is Condonation of Delay Scheme, 2018? CODS-2018 is the scheme introduced by the Central Government, in the exercise of its powers conferred under sections 403, 459 and 460 of the Companies Act, 2013 with a view to giving an opportunity for the non-compliant, defaulting companies to rectify the default. Why Condonation of Delay Scheme, 2018? Companies registered under the Companies Act, 201......

  After implementation of Secretarial Standards for meetings of Board of Directors (SS-1) and (SS-2) Secretarial Standards for General Meetings. ICSI released the Secretarial Standards for Dividend (SS-3) at its golden jubilee year. The SS-3 will be effective from January 1, 2018, for voluntary adoption by companies. In this article, we shall discuss the Introduction, Scope and Ascertainmen......

Recently Ministry of Corporate Affairs has canceled the registration of around 2.10 lakh defaulting companies and subsequent direction of the Ministry of Finance to banks to restrict operations of bank accounts of such companies by the Directors of such companies or their authorized representatives.   MCA in September 2017, identified 3,09,614 directors associated with the companies that ha......

The wild gyrations in the stock market on December 18 as the election results for Gujarat came in reminded us that volatility — the two-way movement in asset prices — is not dead. It just took a rather long vacation. Its return this time was in a bit of a cameo role. The volatility lasted for a day, and then the stock market began rising again. However, it may feature more prominently ......

The wait for framing final regulations to punish high profile individuals, including promoters, who have given personal guarantees for corporate loan defaulters may soon be over as the regulator is set to make a call on the matter next week. The governing body of Insolvency and Bankruptcy Board of India (IBBI) is expected to finalise broad contours for dealing with persona......

Corporate tax reform is nice in theory but tough in practice. It usually requires lowering of tax rates and closing of loopholes. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating what author of Too Big To Fail, Andrew Ross Sorkin, described as "a sad race to zero".   The US is in the process of putting theory ......

India's logistics and supply chain sector is undergoing a wave of change as two big moves by the government—implementing GST and giving infrastructure status to the sector—has led companies to ascribe unprecedented importance to this aspect of business, making investments in it and hiring the best talent to steer it. "From GST the industry has one co......

With a chairman for the National Anti-Profiteering Authority in place, the anti-profiteering methodology is the next key thing to watch out for. An announcement to this effect can be expected in a few weeks, said an Economic Times report, adding that India may adopt a product-specific approach similar to that of Australia to ensure that the full benefit of price reductions due ......

According to the government’s mandate, you have to link your Aadhaar number with various key documents and services to continue using them. The deadlines for doing so are fast approaching, therefore, if you haven’t done it yet, it’s time to get a move on.