The Companies (Adjudication of Penalties) Amendment Rules, 2024 introduces the use of an electronic platform for the entire process of adjudicating penalties under the Companies Act, 2013, The Ministry of Corporate Affairs (MCA) issued a new notification on August 5, 2024, which introduces some important changes to how penalties are handled under the Companies Act, 2013 and this changes will take ......

In the labyrinth of modern finance, there are multiple avenues for individuals to manage and maximise their wealth. Among these, obtaining a credit card against fixed deposits is a prudent financial strategy, especially for those seeking credit without a lower credit score. This method enhances financial flexibility and safeguards one's credit score. Let's delve into the intricacies of credit card......

As per the provisions of Section 406 (1) of the Companies Act, 2013 “NIDHI” or “MUTUAL BENEFIT SOCIETY” means a Company which the Central Government may, by notification in the official Gazette, declare to be a NIDHI or MUTUAL BENEFIT SOCIETY, as the Case may be. NIDHI Companies are generally knowing as exempted category of NBFC in India. It means the there is no requireme......

By the term TDS Survey, we mean to say that the proceedings carried out by the TDS Wing of the Income Tax Department to check the compliances of TDS, whether TDS compliances are being complied by the TAN Holder or not. It is a mere survey to check the records of the assesses whether compliances enshrined within the meaning of TDS sections are compiled or not. On the other hand, TDS Search is an e......

“Joint Commissioner” ♦ Insertion of Section 2(28CA): “Definition of Joint Commissioner” Means a person appointed to be a Joint Commissioner of Income Tax (Appeals) or an Additional Commissioner of Income Tax (Appeals) under sub-section (1) of section 117. The same has been inserted to clear the bottleneck of Overburdened first authority for appeal, Commissioner (Ap......

With an aim to strengthen the regulatory norms and address corporate governance issues relating to RPT, SEBI has broadened the spectrum of related party in SEBI (Listing obligations and Disclosure Requirements) regulations 2015 vide its notification SEBI/LAD-NRO/GN/2021/55 also called as Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regu......

  We all know that children are the custodian of sovereignty, rule of law, justice equality for the bright future of our nation. They are the potential embodiment of our ideals, aspirations, ambition and future hopes. India has recognized the category of the person below 18 years as a distinct legal entity as a child. Children being the 2/5th population of our country, it is essential to hav......

The Delhi High Court recently restrained several rogue websites from using the trademark Amazon or its logo or any malicious variant which results in financial losses to the public. The single bench of Justice Jyoti Singh observes that this was a pre-planned conspiracy to defraud and use innocent members of the public. FACTS: In the present case, Amazon Seller Services Private Limited & Anr......

Who will bear the costs of compliance – Company, Investors or Promoters? “AI Private Limited” [AIPL] emerged as a software technology company, building enterprise AI solutions. It was completely bootstrapped by Mr. AI, with initial funding from his own savings, family, friends and professional contacts. As a closely held company there were few checks and balances in regulatory c......

There are 5 Real Estate Investment Trust [‘REITS’] in India which are registered with Securities Exchange Board of India [‘SEBI’]. Out of these 3 are listed on recognized stock exchanges. SEBI had vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 extended the applicability of Corporate governance provisions which are enlisted f......

INTELLECTUAL PROPERTY RIGHTS Intellectual Property (IP) is a branch of your astuteness. It is the making of brain. Something you make with the utilization of your psyche. Something which is aftereffect of thought or scholarly movement, there can be a few things for instance: Intellectual Property alludes to:  production of psyche branch of keenness consequence of thought/schol......

India is vibrant democracy and largest popular country. Here tax policies play an important role on the economy through their both efficiency and equity. A good Tax system should keep in mind because of income distribution and, at the same time, also endeavour to generate Tax revenues to support government expenditure on public services and infrastructure development. Previously, there are two ty......

Mamta Binani & Associates Company Secretaries Kolkata | Pune | Chennai | Mumbai| Guwahati Website: www.mamtabinaniandassociates.com Connect: office@mamtabinaniandassociate.com Contributor: Lakshitaa Udaypuria Associate   The Ministry of Corporate Affairs, has taken great measures to simplify the process of Incorporating a Company. But it takes a......

About Article: This article contains various Compliance requirements for the Month of November, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. Compliance Requirement Under Income T......

Dear Friends, As you are aware that provisions of Section 2(15) define “the Charitable Purpose” under Income Tax Act, 1961 as; SECTION 2(15) OF THE INCOME TAX ACT, 1961 The expression “charitable purpose” has been defined under Section 2(15) of the Income Tax Act 1961 to include: (a) relief of the poor, (b) education, (c) medical relief, (d) preservation of e......

Dashrathbhai Trikambhai Patel Vs. Hitesh Mahendrabhai Patel & Anr Criminal Appeal No. 1497 of 2022; October 11, 2022The Supreme Court of India  HELD THAT: No Offence for dishonor of cheque under provisions of Section 138 of the NI Act, 1881 is made out if the cheque is presented for full amount without endorsing the part payment made by the borrower after issuan......

Recently, Reserve Bank of India (RBI) has issued a Booklet BE(A)WARE on the common modus operandi which is used by the fraudsters and precautions to be taken while doing various financial Transactions. In this era of digital India, it was noticed that in the past few years to enhance the customer convenience the government is improving the ease of doing the financial transactions via digital means......

In the matter of M/S. Croods Venture Capital Private Limited having CIN U65990GJ2018PTC101532 ROC, Gujarat, Dadra & Nagar Haveli passed an exparte order imposing therein a penalty around Rs. 1,65,000 on company and officers in default for non-filing of financial statements on time for the financial year 2019-20, which is straight forwardly a non-compliance of Section 137 of Companies Act, 2013......

In case of Wise R & D India Private Limited, presently known as Solid Financial Technologies Private Limited company failed to mention the CIN on the letter head of the company in an attachment to form INC-24. Hence it constituted a non-compliance of Section 12(3)(c) of the Companies Act, 2013 and therefore company is held liable to for penalty under section 12(8) of Companies Act, 2013. For ......

Public Notice Trade Mark Rules, 2017 have come in to force with effect from 06/03/2017. Rule 124 provides for determination of a well-known trademark by the Registrar. For the sake of convenience to general public in filing applications under the said Rule, following general guidelines are being issued:- Application under Rule 124 shall be filed on TM-M with prescribed fee as per First Sched......