Month: December 2015

Hindustan Lever & another Vs. State of Maharashtra & another

Facts of the case: Tata Oil Mills Co. Ltd amalgamated with Hindustan Lever Ltd [HLL] under a scheme of amalgamation, which was sanctioned by the Court. On presentation of the certified copy of the Court’s order the Registrar of Companies, Maharashtra issued a certificate of amalgamating of the two companies. The authorities under the Bombay …

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Securities and Exchange Board of India (SEBI)

Circulars: Format for Voting Results: SEBI has in exercise of the powers conferred under Regulation 44(3) read with Regulation 101(2) of Listing Regulations, vide Circular No – CIR/CFD/CMD/8/2015 dated 04.11.2015 specified the format of Voting Results prescribed under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in Annexure I to the …

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Reserve bank of India (RBI)

Amendment in Regulations: Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015: Reserve Bank of India has in consultation with the Central Government issued Notification No. FEMA. 345/2015-RB, dated 16.11.2015 further amending Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 by substituting the existing Explanation (i) in sub-regulation (b) of Regulation 4 …

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Ministry of corporate affairs (MCA)

Amendment in Rules: Companies (Share Capital and Debentures) Third Amendment Rules, 2015: Central Government has in exercise of the powers conferred by sub-sections (l) and (2) of section 469 of the Companies Act, 2013 (18 of 201 3) on 06.11.2015 further amended Companies (Share Capital and Debentures) Rules, 20l4 by adding sub-clause (iv) in sub-rule …

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Audit & Auditors – Companies Act, 2013 vs. Companies Act, 1956

S. No. Particulars Companies Act, 2013 Companies Act, 1956 1. Compulsory Internal Audit Sec.138. Prescribes companies of a particular class to appoint an Internal auditor who can be a CA or CWA or of any other professional as may be decided by the Board. No Such Provision existed 2. Rotation of Statutory Auditors Sec.139(3): Members …

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Corporate governance guidelines of New Zealand

The New Zealand Corporate Governance Forum Guidelines (“Guidelines”) are designed as a contemporary governance reference for shareholders, chairpersons, directors and senior executives of listed companies. The broad principles laid down in these Guidelines pertain to: Ethical standards; Board composition and performance; Board Committees; Reporting and Disclosures; Remuneration; Risk Management; Auditors; Shareholders Relations; Stakeholders Relations. This …

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Labour Law & other Compliance’s for the month of December, 2015

S.No. Compliance Forms to be Filed Relevant Law Due Date  1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th December 2015  2 Payment of service tax  to the department GAR 7 Service Tax Rules, 1994 5th December 2015  3 Monthly return for production and removal of goods and other relevant particulars and CENVAT credit Form …

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Foreign Trade Policy

Introduction Foreign Trade can be understood as exchange of goods and services across International Territories and Borders. This exchange of goods and services between India and various other countries is usually regulated by the Government of India, in the form of a written plan of action rationalizing the course of action of the Government. In …

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