Attorneys at Law Since 1964

Circulars & Notifications

 

mca icon Company Law

Notification Dated :05.09.2016

After Rule 3 in Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding of Meetings and Provision for Offices and Officers) Rules,2016 the following shall be inserted:

“Rule 3A: The Authority shall be a Body Corporate by the name aforesaid perpetual succession and a common seal with the power to acquire, hold and dispose of property, both movable and immovable, and to contact and shall, by the said name, sue or be sued.”

 

Notification Dated :05.09.2016

  • The Rules shall come into force with effect from 7th September 2016.
  • The administration of the fund shall be by the Authority.
  • All amounts remitted by the companies shall initially be accounted for under
  1. Major Head 0075 – Miscellaneous General Services.
  2. Minor Head 104 – Unpaid Dividend of Companies.
  • The accounts of the Authority shall be audited annually by the Internal Audit party of the office of Chief Controller of Accounts and Comptroller and Auditor General of India.

 

Notification Dated :01.09.2016

The Central Government designates certain courts as Special Courts for the purpose of providing speedy trial of offences punishable with imprisonment of two years or more under the Companies Act,2013.

Curated from Designation of Special Courts

 

Wide MCA Notification dated 27/07/2016, the proviso clause of the Rules pertaining to consolidation of accounts and the definition of a Chartered Accountant and Cost Accountant is altered. A new format of form AOC -1 is also included.

 

Wide MCA Notification dated 27/07/2016, provisions relating to incorporation of one-person company, publication of name by the company on its website, change of name has been amended. Also the provisions relating to conversion of unlimited company to a limited liability company is included.

 

Dated – 21/07/2016

The Introduction of revised NCLAT Rules 2016, provides added precision and pellucidity by removing ambiguity in relation to the terms defined, the procedure established and the operative mode implied.

 


 

sebi icon SEBI

 

Circular Dated 02.05.2016

 

While filing the reports, the acquirers are required to report compliance under Chapter V of the regulations. However, there is no specific time period mentioned in the formats for reporting of such compliance. In order to bring it in line with the requirement under Regulation 10(1)(a)SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, it is necessary that the compliance should be reported for a period of 3 years.

 

Press Release No. 77/2016 – Dated 12.04.16

Restriction of ‘contra-trade’ is not applicable to buy back offers, open offers, rights issues, FPOs, bonus of a listed company. Now, exit offer is also exempted from such restriction.

 


 

fema iconFEMA

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.

 

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.

 

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