The Delhi Bar Association has ordered the big four consulting firms i.e. KPMG, Deloitte, PwC and EY to refrain from indulging in legal practice with immediate effect.

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.

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

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

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

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

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”

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”

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”

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”

Income Tax Department has alleged that senior officials with US bank accounts will be in bull’s eye. Tax authorities have started acting on the information shared by the US with India under the Foreign Account Tax Compliance Act (FATCA). Enquiry notices have been sent to individuals with US bank accounts and potentially opening them up … Continue reading “Senior officials with US bank accounts to be on Income tax department bull’s eye”

If you are aware of any firm who is raising prices after reduction in Goods and Services Tax (GST) or Recently, for filing such complaints the government has notified a format. As per the experts, filing an anti-profiteering complaint is a troublesome task for the people in the streets. The format requires details on input … Continue reading “Filing Complaints for Anti-Profiteering is a Troublesome Task”

The government is planning to use the data obtained from Goods and Services Tax (GST) filings to footprint the income tax evaders who are slipping away the income tax. Though the project is still in the initial stage, the government wants to create a database whereby income of companies and their promoters could be matched … Continue reading “Income Tax evaders to be intimated through GST Data”

Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) planning to expand business outside the Securities and Exchange Board of India (SEBI’s) purview. The exchanges are seeking approval for the same. The proposal has been sent to the SEBI committee, headed by former Reserve Bank of India Deputy Governor. The approval could concrete way for … Continue reading “BSE, NSE Plan to grow Business outside SEBI’s Domain”