Ministry of Corporate Affairs (MCA) has already simplified the procedure for obtaining DIN online. MCA vide Circular No. 11/2011 dated 7thApril 2011 has taken another step towards simplification in allotment of DIN where in DIN will be allotted online on the basis of mandatory filling of specified fields in DIN -1. The Ministry has also clarified that the existing DIN holders who …
Ministry of Corporate Affairs vide Circular No. 10/2011 dated 4th April 2011 clarified that the words “partnership” wherever occurring in the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980 shall mutatis mutandis be construed as including those Limited Liability Partnerships where all the other partners are natural persons(individuals).
Ministry of Corporate Affairs vide General Circular No. 09/2011 dated 31st March, 2011 has mandated certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy. The Financial Statements required to be filed in XBRL format would be based upon the Taxonomy on XBRL developed for the existing Schedule …
The Ministry of Corporate Affairs vide Notification dated 26th March, 2011 have amended the rules of Companies (Central Government’s) General Rules and Forms , 1956 and the said rules are called Companies (Central Government’s) General Rules and Forms, (Amendment), Rules 2011 amending eform 61.
The Ministry of Corporate Affairs vide Notification dated 31stMarch, 2011 has amended the Companies (Particulars of Employees) Rules, 1975 which will be called as Companies (Particulars of Employees) Amendment Rules, 2011. As per the amendment, the remuneration limit for the applicability of these rules have been revised from Rs. 24 Lakhs per annum or Rs. 2 lakhs per month to Rs. …
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The Ministry of Corporate Affairs vide Notification dated 6th April 2011 have amended the Companies Regulations, 1956 with regard to the meaning of Regional Director as a person appointed by the Central Government in the Ministry of Corporate Affairs as Regional Director for the specified regions.
The Ministry of Corporate Affairs vide Notification dated 6th April 2011 have amended the Director’s Relatives (Office or Place of Profit) Rules, 2003 and the amended rules are called ‘Director’s Relatives (Office or Place of Profit) Amendment Rules, 2011’. According to the said amendment there is a revision in the remuneration limits for seeking central government approval for appointment of relatives etc. of …
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RBI vide Notification DNBS. 227 & 228 / CGM(US)-2011 dated 30th March 2011 has decided to prohibit NBFCs from contributing capital to any partnership firm or to be partners in partnership firms. In cases of existing partnerships, NBFCs may seek early retirement from the partnership firms.
The Reserve Bank of India vide its earlier circular dated 29th June, 2010 had enhanced the period of realization and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export. This relaxation was up to March 31, 2011. RBI has vide …
To provide structured flexibility and easiness to the resident/non-resident shareholders of Indian Company, Reserve Bank of India vide its Circular RBI/2010-11/ 498 A. P. (DIR Series) Circular No. 58 dated May 02, 2011 has decided to permit AD category -1 banks to open and maintain, without prior approval of the Reserve Bank, non-interest bearing Escrow accounts in Indian Rupees in India on …
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