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LATEST NEWS & EVENTS
HACKED BY LULZSEC SABAH~ PROMETHIUS
The Companies Bill 2013, which replaces the nearly six-decade old Companies Act, has got the Presidential assent and is now Companies Act (Act no-18/2013)
Overseas Investments - Vide circular no. 23 & 24 dated 14th August, 2013, the present limit of 400% of the net worth has been reduced to 100% of the net worth of the Indian Party which intends to make overseas investment as on the date of the last audited balance sheet under automatic route and any overseas investment above 100% of the net worth shall be considered under the Approval Route by the Reserve Bank of India
SEBI notifies a new set of Regulations to govern issuance and listing of Non-Convertible Redeemable Preference Shares(NCRPS), to be called SEBI (Issue & Listing of Non Convertible Redeemable Preference Shares) Regulations, 2013 with a view to foster the fund raising options for Corporates and Banks and at the same time ensuring transparency and interest of investors
High Court comes down heavily on Central Excise Department and initiates contempt proceedings - The Division Bench of Hon'ble High Court of Rajasthan at Jodhpur in the matter of our client Fashion Suitings Pvt. Ltd., challenging the action of the Superintendent, Central Excise of issuing recovery notices pursuant to CBEC Circular No. 967/01/2013-CX dated 01.01.2013, despite the circular being already declared as non-est by the coordinate Division Bench of the same High Court at Jaipur in the case of our another client Mangalam Cement, issued suo moto contempt notice to Superintendent, Central Excise for deliberate disrespect and defiance of the orders of the High Court.
LLP(Second Amendment) Rules,2010 - Substitution of Form-10 - vide notification no. GSR 914(E) dated 15-11-2010. The rules shall be effective from 06-12-2010
SEBI has amended the Equity Listing Agreement vide circular no. CIR/CFD/DIL/10/2010 dated 16-12-2010
RBI introduced Core Investment Companies (Reserve Bank) Directions, 2011 vide Notification No. DNBS (PD) 219/CGM (US)-2011 dated 05.01.2011
Non-applicability of provisions of section 45-IA and section 45-IA(1)(b) of the RBI Act, 1934 to a Core Investment Company and a Systemically Important Core Investment Company.
Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 - Insertion of para 9A and amendment in para-1 and para (2)(xxi)(c)
SEBI permit the Stock Exchanges to introduce derivative contracts (Futures and Options) on Foreign Stock Indices in the equity derivatives segment vide Circular No.CIR/DNPD/2/2011 dated 11.01.2011
Finance Act, 2013 [17 of 2013] assented by the President on 10-5-2013.
Relief for Cos Suffering from Forex Losses_In a notification issued on December 29 , 2011 and effective immediately,the MCA has extended the deadline for charging losses on forex loans from March 2012 to March-end 2020.
General Anti Avoidance Rules (GAAR) to be applicable w.e.f. AY 2016-17.
Levy of TDS on immovable property withdrawn.
'The Department of Industrial Policy & Promotion' has released the circular 1 of 2013- Consolidated FDI policy as on 31.03.2013, effective from 05-04-2013
Service Tax - Department cleared the way for VCES(Voluntary Compliance Encouragement Scheme). The CBEC has issued publication containing FAQ’s relating to the VCES. In order to encourage more and more taxpayers so as to adopt for the VCES the CBEC has given answer to 23 questions of the taxpayers
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