Posted On:  1 year ago


Guidance Note on Board Evaluation

The Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”) contain broad provisions on Board Evaluation i.e. evaluation of the performance of: (i) the Board as a whole, (ii) individual directors (including independent directors and Chairperson) and (iii) various Committees of the The provisions also specify responsibilities of various persons / committees for conduct of such evaluation and certain disclosure requirements as a part of the listed entity’s corporate governance obligations.

article author One Roof Consultant

Posted On:  1 year ago


SEBI LODR (Third Amendment) Regulations, 2016

In exercise of the powers conferred by section 11, sub-section (2) of section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, namely

article author CS Perila Sheth

Posted On:  1 year ago


Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB)

1. SEBI vide circular dated October 10, 2016 provided a period of three months to the ELCs on the DB to submit an action plan to list or to provide exit to shareholders to the designated stock exchanges. 2. In light of representation received seeking extension of time to submit plan of action, it is decided to extend the time till March 31, 2017. All other conditions as mentioned in the SEBI circular dated October 10, 2016 remain unchanged

article author CS Perila Sheth

Posted On:  1 year ago


SEBI (Alternative Investment Funds) (Amendment) Regulations, 2016

In exercise of the powers conferred by sub­section (1) of section 30 read with sub-section (1) of section 11, clause (ba) and clause (c) of sub-section (2) of section 11 and sub-sections (1) and (1 B) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, namely

article author One Roof Consultant

Posted On:  1 year ago


SEBI (Portfolio Managers) (Amendment) Regulations, 2016

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993, namely

article author CS Perila Sheth

Posted On:  1 year ago


Clarification regarding Specified Bank Notes (SBNs)

There had been various estimates on SBNs tendered in certain sections.We would like to clarify that the periodical SBN figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016,

article author One Roof Consultant

Posted On:  1 year ago


LPG customers to now get a discount for on-line payment of LPG refill

Oil Marketing Companies, viz Indian Oil, BPCL & HPCL are now offering an upfront discount of Rs 5/- on every LPG refill to all LPG customers who will book and pay for their LPG cylinders online. Customers can make payment through existing online modes i.e net banking, credit & debit cards at the time of web-booking their refills.

article author One Roof Consultant

Posted On:  1 year ago


Pre-Budget consultations with FMs of all States/ UTs

The Union Finance Minister Shri Arun Jaitley holds Pre-Budget consultations with the Finance Ministers of all States/ UTs (with legislature); FM: Various steps taken by the Central Government in recent past to unearth black money will help in curbing corruption and making the Indian economy more cleaner, transparent and efficient; Asks the States to work together for putting India on the path of higher growth

article author One Roof Consultant

Posted On:  1 year ago


Initiatives taken by Government to promote use of mobile/e-banking for cashless transactions

The Public Financial Management System (PFMS) is a web-based online software application, developed and implemented by the o/o CGA with technical support of NIC. The primary objective of PFMS is to facilitate a sound Public Financial Management System for Government of India (GoI) by establishing an efficient fund flow system as well as a Payment cum Accounting network. PFMS provides various stakeholders with a real time, reliable and meaningful Management Information System and an effective Decision Support System (DSS), as part of the Digital India initiative of GoI.

article author One Roof Consultant

Posted On:  1 year ago


Clarification in respect of “part delivery” where OOC is obtained at DPD/RMS Facilitation Centre at JNCH

Attention of the Importers, Exporters, General Trade, Port Terminal Operators, Shipping Lines / Shipping Agents, CFSs coming under the jurisdiction of JNCH, Nhava Sheva and all other stakeholders is invited to the Public Notice No. 160/2016 dated 29.11.2016 on the above-cited subject matter. Vide this Public Notice as a measure of trade Facilitation and ‘Ease of doing Business’ a dedicated “RMS Facilitation Centre”

article author One Roof Consultant

Posted On:  1 year ago


Dept can adjudicate Show Cause Notices despite unconditional stay by SC

In this regard, I am directed to say that the Board inter alia, had referred the issue of pending adjudications of cases covered by the above said Board Instruction to the Ld. Solicitor General of India. The Ld. Solicitor General has opined, inter alia, that in view of the unconditional stay in force, granted by the Hon’ble Supreme Court, the Department could continue with adjudication of the Show Cause Notices hitherto covered by the Mangali Impex judgment.

article author One Roof Consultant

Posted On:  1 year ago


Form of Declaration under Employees Enrolment Campaign, 2017

The Central Government in exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), inserted paragraph 82A after paragraph 82 in Employees’ Provident Funds Scheme, 1952 to make special provision In respect of Employees Enrolment Campaign, 2017.

article author One Roof Consultant

Posted On:  1 year ago


E-mail id’s to handle the queries related to Unified Portal

The new Unified Portals has been launched by EPFO for PF members, employers and field offices, and can be accessed through “epfindia.gov.in“. 2. To handle the queries pertaining to them, below mentioned e-mail ids have been created:

article author One Roof Consultant

Posted On:  1 year ago


Exchange facility to foreign citizens

Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 20 dated November 25, 2016 permitting foreign citizens to exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week till December 15, 2016 and extended up to December 31, 2016 vide A.P. (DIR Series) Circular No. 22 dated December 16, 2016.

article author One Roof Consultant

Posted On:  1 year ago


Allocation of cash for rural areas

On observing that bank notes, being supplied to rural areas, at present, are not commensurate with the requirements of rural population, some steps have already been initiated as indicated in the above circulars. With a view to ensure that at least 40% bank notes are supplied to rural areas and to mitigate the issue in a more enduring manner, the banks maintaining currency chests are advised to take the following steps, in continuation of the above

article author One Roof Consultant

Posted On:  1 year ago


Amendment in import policy of items classified under Chapter 41 & 43 of ITC (HS), 2012–Schedule-1 (Import Policy)

S.O. (E): In exercise of powers conferred by Section 3 of FT (DMZ) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the import policy of the following items classified under Chapter 41 and 43 of ITC (HS), 2012 – Schedule – 1 (Import Policy), as under

article author One Roof Consultant

Posted On:  1 year ago


Full/Partial exemption of late fee under section 20(6) of MVAT Act, for late returns

Goods and Services Tax Act shall be implemented soon. After the implementation of the GST, many state taxes would be subsumed in GST. Most of the existing registered dealers would get registration under GST. The Department is earnestly trying to dispose off the old pending work so that we can focus on smooth implementation of GST in the state. The Department is also actively upgrading the automation processes. At the same time, the dealers also must have started preparations in view of the forthcoming GST

article author One Roof Consultant

Posted On:  1 year ago


Guidelines for the sale of seized/ confiscated gold

I am directed to refer to the procedure for disposal of seized/ confiscated gold prescribed vide Ministry’s letter F. No. 711/164/93-CUS (AS) dated 08.08.2005 and to state that in addition to the State Bank of India, the sale of seized/ confiscated gold found ripe for disposal can be routed through all Public Sector Banks (approved by RBI to import and sell gold), MMTC Ltd. and STC Ltd.

article author One Roof Consultant

Posted On:  1 year ago


Forcing Husband to Stay Away From His Parents Amounts To Cruelty

The High Court came to the conclusion that there was no cruelty  meted out to the Appellant, which would enable him to get a decree of divorce,  as per the  provisions  of  the  Act.   The  allegations  with  regard  to  the character of the Appellant and the extra-marital affair  with  a  maid  were taken very seriously by the Family Court, but the High Court  did  not  give much importance to the false allegations made.  The constant  persuasion  by the Respondent  for  getting  separated  from  the  family  members  of  the Appellant and constraining the Appellant to live separately

article author Dharmesh Jain

Posted On:  1 year ago


Latest changes in new passport rules

In order to streamline, liberalize and ease the process of issue of passport, the Ministry of External Affairs has taken a number of steps in the realm of passport policy which is expected to benefit the citizens of India applying for a passport. According to press information bureau the steps introduced will benefit the process of issue of new passport. The official notification will be soon published by the government in the official gazette to give effect to the change. The details of the new rules of passport application are given below

article author CA Chirag Chauhan