MCA vide Letter No. F. No. 3/57/2011-CL.II dated 3rd June, 2011 has initiated a new process of “Lok Adalats” to review and ascertain the legal cases where the companies and their officers in default are inclined to get the offences compounded. MCA has asked all the ROC’s and Regional Director’s (RD) to organize Lok Adalats headed by RD’s …
MCA has taken another initiative in order to eliminate the inconvenience caused due to payment processing delays by introducing payment of MCA filing fees via National Electronic Fund Transfer (NEFT) mode, in addition to the existing payment methods i.e. Credit Card, Internet Banking & Physical Challan (for payments in excess of Rs. 50,000/-). Please click here for NEFT payment user guide.
Definition of Pre-packaged commodities : The significant changes that are discernible between the earlier and the new leaner version of the legislation include pre-packaged commodities being defined in the Act itself rather than in the rules, and the same now being linked with the quantity rather than the value. Appointment of Controller and Other Officers of Legal …
Synopsis of the new act and the rules made there under: Read More »
MCA vide letter no. 17/143/2011-CL.V issued draft Companies (Dematerialization of Certificates) Rules, 2011, so that Public Companies and their subsidiaries which have raised money by issue of shares, debentures, accepting public deposits, stock, bond or any other financial instruments from public, other than from directors of the company, shall be required to issue and keep such share certificates, debenture certificates and certificates …
Dematerialization of Share Certificate by Public Companies Read More »
Securities and Exchange Board of India (SEBI) vide Cir/ISD/ 3/2011 dated 17th June, 2011 has made dematerialization of Promoter’s shares in all the listed companies mandatory, in order to improve transparency in the dealings of shares by promoters including pledge / usage as collateral. In order to trade the Companies Securities in normal segment, all the listed Companies have to achieve 100% …
Reserve Bank of India (RBI) vide A.P. (DIR Series) Circular No. 73 dated 29th June, 2011 Liberalized Overseas Direct Investment provisions relating to transfer by way of sale of shares of a joint venture or wholly owned subsidiary (JV or WOS) outside India with and without write off upon fulfillment of certain conditions.
RBI vide A. P. (DIR Series) Circular No. 74 dated 30th June, 2011 specified the issue equity, preference shares under the government route of the foreign direct investment scheme for specified categories and payments shall be made directly by the foreign investor to the company. Payments made through third parties citing the …
The changes in economic scenario after liberalization and the economic growth have raised the interest of Indian as well as Foreign Institutional Investors(FII’s) in the Indian capital market. Though the Government has been liberalizing the Indian economy but the inflation bug seems to have hit the Indian currency too. The finance ministry has decided that with effect from …
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