Daily Archives: May 10, 2016

Investor Education and Protection Fund Authority constituted by govt

SECTION 125 OF THE COMPANIES ACT, 2013 NOTIFICATION NO. SO 1647(E) [F.NO.5/27/2013-IEPF (PART-1)], DATED 2-5-2016 In exercise of the powers conferred by sub-sections (5) and (6) of section 125 of the Companies Act, 2013 read with rules 5 and 7 of the Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding meetings… Read More »

RBI cancels Certificate of Registration of 4 NBFCs

RBI cancels Certificate of Registration of 4 NBFCs Date : May 10, 2016 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name… Read More »

NBFCs surrender Certificate of Registration to RBI

7 NBFCs surrender their Certificate of Registration to RBI Date : May 10, 2016 The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act,… Read More »

Category: RBI

Civil Services Examination 2015 Result Declared

Civil Services Examination, 2015 – Result Declared Based on the results of the written part of Civil Services Examination, 2015 held by the Union Public Service Commission in December, 2015 and the interviews for Personality Test held in March-May, 2016, following is the list, in order of merit, of candidates who have been recommended for… Read More »

Transfers of Chief Justices at Different High Courts

Transfers of Chief Justices at Different High Courts In exercise of the powers conferred by clause (1) of article 222 of the Constitution of India the President, after consultation with the Chief Justice of India is pleased to transfer Shri Justice Navin Sinha, Chief Justice of the Chhattisgarh High Court, as the Chief Justice of… Read More »

Transfers of Judges in the Different High Courts

Transfers of Judges in the Different High Courts In exercise of the powers conferred by clause (1) of article 222 of the Constitution of India, the President, after consultation with the Chief Justice of India, is pleased to transfer Shri Justice Tinlianthang Vaiphei, Judge of the Gauhati High Court, as a Judge of the Tripura… Read More »

Pelican Signaling System in Delhi

Pelican Signaling System The Government has introduced Pelican Signaling System in the National Capital Territory of Delhi. Delhi Police has installed Pelican Signals at 39 locations in the NCT of Delhi to facilitate the pedestrians to cross the road safely. In this Signaling System, the pedestrian green light is activated once a request is registered… Read More »

National Sex Offenders List

National Sex Offenders List Draft guidelines on the proposal to set up Sex Offenders Registry in India is under preparation in consultation with relevant Ministries/organizations, before they are put out for wider consultation with the State Governments and the public. The initial consultation draft includes the registration of individuals convicted for offences like rape, voyeurism,… Read More »

Organ Donor Law and Procedures simplified

Simplifying Organ Donor Law and Procedures  New Delhi, 10th May, 2016  Dialysis and Renal Transplantation are two treatment options for patients with end stage renal disease condition. As per available information, transplantation is usually the first line of treatment for such patients.  As compared with dialysis, Transplantation is considered more effective in improving the quality… Read More »

Action plan for Tobacco-free states

Action plan for Tobacco-free states Government has taken measures including, inter alia, the following to discourage the consumption of tobacco products: (i) Enactment of the “Cigarettes and other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Act, (COTPA) 2003”. (ii) Ratification of WHO Framework Convention on Tobacco Control.… Read More »

Govt steps to curb menace of Black Money

Government takes various steps in last two years to curb the menace of Black Money both within and outside the country.  The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken… Read More »

Tax Policy Council (TPC) and Tax Policy Research Unit set up by govt

Recommendations of Tax Administration Reform Commission (TARC) in all the four Reports submitted to Government The Tax Administration Reforms Commission (TARC) headed by Dr. Parthasarathi Shome submitted its report in four volumes containing a total of 385 recommendations that pertain to Central Board of Direct Taxes (CBDT) and 201 recommendations that pertain to Central Board… Read More »

Govt Plan to make black money and fake notes circulation ineffective

Plans of Government to render black money and fake notes circulating in the market ineffective The Government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on. However, the plans of Government to render black money and fake notes circulating in the market ineffective… Read More »

IT Assesment of CSR Spending

IT Assesment of CSR Spending Section 135 (1) of the Companies Act, 2013 mandates every company with a turnover of Rs. 1000 crores or more; or a networth of Rs. 500 crores or more; or a net profit of Rs. 5 crore or more to spend at least two per cent of their average net… Read More »

Carry Forward of Unspent CSR Obligations

Carry Forward of Unspent CSR Obligations The Ministry of Corporate Affairs, in its circular dated 12th January 2016, has clarified that, the Board of the Company is free to decide whether any unspent amount from out of the minimum required CSR expenditure is to be carried forward to the next year. This provision is uniformly… Read More »

Compliance of SEBI Directive on Women Director

Compliance of SEBI Directive on Women Director The requirement of appointment of woman director emanates from Section 149 of Companies Act, 2013.  SEBI has mandated that listed companies to appoint one woman director on its board.  Companies can appoint any woman as director who is not otherwise disqualified for appointment as a director in terms… Read More »

Declaration of Assets & Liabilities in new ITR forms

Declaration of Assets & Liabilities in the new ITR forms Central Board of Direct Taxes (CBDT) have released new income-tax return formswith mandatory provisions of declaring Assets & Liabilities (A&L) such as cars, jewellery yacht, aircrafts, shares, properties, etc. Prior to Assessment Year (A.Y.) 2015-16, the Asset –Liability Schedule (AL schedule) was applicable to filers… Read More »

Companies CSR Policy Rules 2014

COMPANIES (CORPORATE SOCIAL RESPONSIBILITY POLICY) RULES, 2014 NOTIFICATION [FILE NO.1/18/2013-CL.V], DATED 27-2-2014 In exercise of the powers conferred under section 135 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely:— Short title and commencement 1. (1)These rules may be… Read More »

Demat holding of Securities by Non-residents on Repatriation Basis :RBI seeks Stakeholders’ Views

Date : May 09, 2016 Ease of Doing Business in India: RBI seeks Stakeholders’ Views on Proposed Change in Forex Rules to mandate Demat holding of Securities by Non-residents on Repatriation Basis It is proposed to amend the Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 to… Read More »

RBI to issue ₹ 1000 banknotes with inset letter R

Date : May 09, 2016 RBI to issue ₹ 1000 banknotes with inset letter ‘R’ The Reserve Bank of India will shortly issue ₹ 1000 denomination banknotes in the Mahatma Gandhi Series – 2005 with the inset letter ‘R’ in both the number panels. The banknotes will also have on the obverse, all the other… Read More »

Category: RBI

Mineral concession rules 2016

Mineral concession rules 2016 The Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016 prescribe the procedures for regulating the grant of mineral concessions and for purposes connected therewith. The provisions of these rules cover (i) Rights of existing holders of mineral concessions, (ii) Mineral concessions granted through auction, (iii) Terms and… Read More »

Bonus ceiling increased from Rs 3500 pm to Rs 7000 pm

Bonus ceiling The ceiling of calculating Bonus for factory workers and establishment with 20 or more workers under section 12 of the Payment of Bonus Act has been increased from Rs.3500/- per month to Rs.7000/- per month or the minimum wage for the scheduled employment, as fixed by the appropriate Government, whichever is higher with… Read More »

Ranking of Higher Education Institutions

Ranking of Higher Education Institutions The Ministry of HRD has ranked top 100 Universities, 100 Engineering, 50 Management and 50 Pharmacy colleges in the country based on National Institutional Ranking Framework (NIRF). The details of these are available at NIRF websitehttps://www.nirfindia.org/Ranking.   No proposal to conduct independent evaluation of these institutions and universities and to… Read More »

Integrated Waste Management System Web-Based Application

Environment Minister launches Web-Based Application on Integrated Waste Management System The Government has launched a web-based application on Integrated Waste Management System (IWMS) – www.iwms.nic.in for better management of waste.    Launching the application here today, Minister of State (Independent Charge) of Environment, Forest and Climate Change, Shri Prakash Javadekar, said that it will provide an… Read More »