Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs Reserve Bank of India has vide its circular DNBS (PD) CC.No.376/03.10.001/2013-14 dated May 26, 2014 notified that NBFCs both Deposit accepting and non-deposit accepting registered with RBI will requiring prior written approval of the Reserve Bank in the following …
CIR/MRD/DSA/18/2014: Circular on Companies exclusively listed on De-recognized /Non-operational Stock Exchanges – 22nd May, 2014 1.SEBI vide circular dated May 30, 2012 (Exit Circular) issued guidelines in respect of exit options to stock exchanges. In terms of these guidelines, if the stock exchange is not able to achieve the prescribed turnover of Rs 1000 Crore …
Delegation of powers under section 458 of CA 2013 to Regional Director In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), Central Government has delegated to the Regional Directors at Mumbai, Kolkata, Chennai, Noida, Ahmedabad, Hyderabad and Shillong, the power and functions vested in it under the …
Word : malfeasance Meaning : intentionally doing something either legally or morally wrong which one had no right to do. It always involves dishonesty, illegality or knowingly exceeding authority for improper reasons. Malfeasance is distinguished from “misfeasance,” which is committing a wrong or error by mistake, negligence or inadvertence, but not by intentional wrongdoing. …
Introduction: To make the listed companies more transparent and to align the provisions related to Listing Agreement with the Companies Act, 2013, Capital Market Regulator, SEBI has amended Clause 49 of Listing Agreement. The said amendments will be effective from 1st October 2014. We have done a comparative analysis on the same: Particulars Clause 49 …
COMPARITIVE ANALYSIS OF Clause 49 of SEBI Listing Agreement with COMPANIES ACT, 2013 Read More »
INTRODUCTION: Minutes, are notes or the instant written record of a meeting or hearing. It serves as a record or as an important source of information. People referring to it, assume it to be correct on the face of it. There is a statutory obligation on the Corporates under Companies Act, 2013 to record the …
S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th June, 2014 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th June, 2014 3 Monthly return for production and removal of goods and other relevant particulars and CENVAT …
Labour Law & other Compliance’s for the month of June, 2014 Read More »
Decided on: May 8, 2014 Sections 391 & 394 of Companies Act, 1956 read with Section 110 of Companies Act, 2013 and SEBI Circular No. CIR/CFD/DIL/8/2013 dated May 21, 2013. Scheme of Amalgamation between M/s Wadala Commodities Limited and M/s Godrej Industries Limited (“Applicant Company”). Matter: For withdrawing the application for dispensing with an …
Section 73-76 read with Companies (Acceptance of Deposit) Rules, 2014 Deposit – includes any receipt of money by way of deposit or loan or in any other form, by a company. Depositor – Any member who has made a deposit with the Company. Any person who has made a deposit with the Company under Section …
Overview on Acceptance of Deposits Under Companies Act, 2013 Read More »
Change Factor Listing Agreement – Clause 49 Companies Act, 2013 – Section 149 Composition of Board If chairman is Executive Director – at least 50% of the board to be independent directors. If Chairman is non-executive Director – at least 1/3rd of the Board to be independent directors. In case of listed Companies, 1/3rd of …
INDEPENDENT DIRECTORS – COMPARISION BETWEEN LISTING AGREEMENT AND COMPANIES ACT, 2013. Read More »
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