Company Law
Notification dated 31.05.2016
Amendments to the Principle Rules I.e. Companies (Authorized to Register) Rules, 2014 have been made.
The amended rules shall come into force from the date of their publication in the Official Gazette.
Circular Dated 27.04.16
The amended Accounting Standards shall be used for preparation of accounts for accounting period commencing on or after the date of notification.
Notification Dated 26.04.2016
Retrospective effect has been given to notification number G.S.R 832 (E) dated 03.11.2015 to discharge the function u/S 396(1) of 2013 Act with regard to the words “States of Karnataka and Andhra Pradesh” the words “States of Karnataka, Andhra Pradesh and Telangana” shall be substituted.
Central Government delegates the powers to Regional Director to appoint Inspectors for inspection of books and papers of a company under Section 206(5).
MCA vide notification dated 04.04.2016 – Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2016.
Earlier, the proviso to Rule 3 of the Companies (Filing of Documents and Forms in Extensible Business Reporting language) Rules, 2015 had certain companies exempted from XBRL filing.
Now, Housing Finance Companies have been added to the list for such exemption.
MCA vide notification dated 06.04.2016
The earlier given general instructions for the preparation of balance sheet and statement of profit and loss of a company apply only to Division I (“Financial Statements for a company whose Financial Statements are required to comply with the Companies (Accounting Standards) Rules, 2006”).
At present, Division II (“Financial Statements for a company whose financial statements are drawn up in compliance of the Companies (Indian Accounting Standards) Rules, 2015”) has been introduced vide this notification.
SEBI
FEMA
Notification dated 16.02.2017
It has been decided to permit Multi-lateral and Regional Financial Institutions in which India is a member country to invest in Rupee denominated bonds issued overseas by Indian entities.
Notification dated 02.02.2017
NRIs are permitted to access to the exchange traded currency derivatives market for hedging the currency risks arising out of their investments in India under the Foreign Exchange Management Act, 1999 subject to compliance of the terms and conditions prescribed under the said Notification.
It has been decided to delegate further powers to Regional Offices as mentioned in this notification.
Notification dated: 25.01.2017
Indian Party is prohibited from making direct investment in an overseas entity (set up or acquired abroad directly as JV/ WOS or indirectly as step down subsidiary) located in the countries identified by the FATF as “non co-operative countries and territories” as per list available on FATF website www.fatf-gafi.org or as notified by the Reserve Bank of India from time to time.