Corrigendum to LLP Notification dated 05.06.2011 – MCA vide its Corrigendum dated 21/06/2012 has substituted new forms in place of the existing ones. Extension of time for filing annual return by LLPs: In continuation of the MCA’s circular no. 13/2012 dated 6th June, 2012, the time limit for filing the Annual Return by LLPs has …
FII Investment in Government debt long term and corporate debt long term infra category: The Reserve Bank of India (RBI), vide its circular dated June 25, 2012 decided to enhance the existing limit for investment by SEBI registered Foreign Institutional Investors (FIIs) in Government debt by a further amount of USD 5 billion taking the …
Filing of Cost Audit Report (Form‐I) and Compliance Report (Form‐A) in (XBRL) mode : In continuation of MCA’s General Circular No. 8/2012 dated 10th May, 2012, it has been decided vide General Circular No. 8/2012 dated 29th June, 2012 that filing of Cost Audit Reports and Compliance Reports with the Central Government in the XBRL mode …
[vc_row][vc_column][vc_column_text]Meaning of Depository: The word ‘depositary’ is defined as “the party of the institution (eg bank or trust company) receiving a deposit. One with whom anything is lodged in trust, as ‘depository’ is the place where it is put. The obligation upon the depositary is that he keeps the thing with reasonable care and upon …
Master Circular on Foreign Investment in India : RBI has compiled and issued the Master Circular on Foreign Investment vide its notification RBI/2012-13/15 Master Circular No. 15/2012-13 dated 2nd July, 2012. This Master Circular also covers the area of ‘Investment in capital of partnership firms or proprietary concern’. This Master Circular is being issued with …
Avnish Bajaj v. State & anr; Ebay India Pvt. Ltd v. State & Anr decided by Supreme Court on 27th April, 2012. Brief Facts: The main issue involved in this batch of appeal is whether Directors of a Company alone can be prosecuted without making the Company as one of the accused. However, the Supreme …
Aneeta Hada Vs. M/s. Godfather Travels & Tours Pvt Ltd Read More »
[vc_row][vc_column][vc_column_text]Introduction: Compliances are a set of rules and requirements dictated by legislation that are compulsory to adhere to. Ignorance of the law is not an excuse. Failure to adhere to legislation can become a costly exercise that can normally be avoided. The responsibility for compliance of the regulations under various statutes is with the directors, …
[vc_row][vc_column][vc_column_text]Corporate Social Responsibility (CSR) is organisation’s performance against economic, social and environmental parameters. The theory behind CSR is that companies can be profitable while at the same time minimize their negative impact on the stakeholders. Many studies were conducted to understand whether ethics pay and found a positive correlation between better financial performance and better …
The period of limitation commences from the day the offence comes to the knowledge of the complainant. Brief facts : A complaint was received by the Regional Director, Northern Region, Noida regarding irregularity/ illegality in the affairs of the Petitioner Company (M/s. Khulood Impex Private Limited). The complaint was forwarded to the Respondent/ Complainant (ROC) …
The transfer of an undertaking under a Scheme of arrangement under Section 391-394 of Companies Act, 1956 is ‘Slump sale’ which is taxable under Section 50B of the Income-tax Act. Brief fact of the Case : The petitioner (SREI Infrastructure Finance Limited) under a scheme of arrangement, transferred its project financing business and assets based …
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