Category: Authentic Legal Advice

Government plans to have more NCLT benches

The government plans to have more benches of the National Company Law Tribunal on the basis of case load and rising number of insolvency cases coming up before the NCLT.

Read More
IBBI Chairman in no mood to review amendments in Bankruptcy Rules

The Insolvency and Bankruptcy Board of India (IBBI) appears to be in no mood to review amendments made in the bankruptcy code.

Read More
New Cheque Book by 31st December, 2017 bearing new IFS code.

All the Account holders of aforesaid banks which were merged with SBI Bank, they are required to have new cheque book by 31st December, 2017 bearing new IFS code.

Read More
A 3 Month Window For Relief of Disqualified Directors by MCA

Section 164 of the Companies Act, 2013, provides the events which result in disqualification of directors. For those director who had been disqualified

Read More
I-Bankers blamed by RBI for faulty Project or Loan Appraisals

The merchant banking arm of SBI, for both loan appraisals as well as loan restructuring and even project appraisals.

Read More
Draft amendment approved for compensation in case of dishonor cheque

The Union Cabinet approved draft amendments in the Negotiable Instruments Act, 1881, that could award interim compensation in a case relating

Read More
MCA notified the Companies (Cost Records & Audit) Amendment Rules

The Amendments shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April 2016. The “Indian Accounting Standards” shall have the means Indian Accounting Standards as referred to in Companies (Indian Accounting Standards) Rules, 2015. Further, in the principal rules, for Form CRA-1 and Form CRA-3, shall respectively … Continue reading “MCA notified the Companies (Cost Records & Audit) Amendment Rules”

Read More
DGFT notified the revised Foreign Trade Policy 2015-2020

The Directorate General of Foreign Trade (DGFT) has revised the Foreign Trade policy for specified labour-intensive industries, such as, Textile, leather, agriculture, carpets, marine-products, etc., and also specified service sectors, by way of providing enhanced benefits under the *Merchandise Export from India Scheme (MEIS) and the Service Export from India Scheme(SEIS). The major key points … Continue reading “DGFT notified the revised Foreign Trade Policy 2015-2020”

Read More
DRI recovers about Rs. 50 Crores of Demonetized Money

Directorate of Revenue Intelligence (DRI), an Intelligence Agency of Government of India recovered about Rs. 48.91 Crores of demonetized currency in Rs. 500 and Rs. 1,000 demonetized currency notes. Under Section 7 of the newly enacted The Specified Bank Notes (Cessation of Liabilities) Act, 2017, whoever contravenes provisions of Section 5 of the said Act … Continue reading “DRI recovers about Rs. 50 Crores of Demonetized Money”

Read More
Bombay High Court’s order on Disqualification of Directors

Whether disqualification of directors for non-filing of financial for a continuous period of three years from FY 2014, 2015 & 2016 tantamount to retrospective effect of Companies Act, 2013? Bombay High Court in its order dated October 12, 2017, gave clarity on following observations pertaining to Section 167(2) (a): 1) Non-filing of financial for FY … Continue reading “Bombay High Court’s order on Disqualification of Directors”

Read More