As per the Companies Act, 2013, a deposit is any money that is received, either by means of a deposit or a loan or any other form as may be prescribed, but does not include certain classes of transactions. The provisions concerning deposits are covered under Sections 73 to 76 of the Companies Act, 2013, which are generally read with the prescribed Rules. Exclusions: Any amount, (b) as advance, accounted for in any manner whatsoever, received in connection with consideration
Tag: RBI
Corporate & Legal Alert – February 2023
In this edition we have tried to bring you notice the latest amendment that followed in the month of February, 2023 issued by MCA, RBI, SEBI others. MCA MCA drops RoC approval for most corporate actions The Ministry of Corporate Affairs has simplified the process for corporate reporting, eliminating the need for approval by Registrars of Companies (RoCs)in most cases and allowing companies to fulfil their reporting obligations with an online acknowledgement. To read more: MCA drops RoC approval for
Corporate & Legal – January 2023
In this edition we have tried to bring you notice the latest amendment that followed in the month of January, 2023 issued by MCA, RBI and SEBI others. RBI Update Changes in Bank KYC Norms In the latest guideline, the RBI said that Bank account holders who have already submitted valid documents and haven’t changed their addresses are no longer obliged to visit their bank locations to update their “know your customer” (KYC) information, according to the RBI. They can
The latest amendment that followed in March 2022 was issued by MCA, RBI, SEBI, DIPP and others.
In this edition, we have tried to bring you to notice of the latest amendment that followed in the month of March 2022 issued by MCA, RBI, SEBI, DIPP and others. Amendments issued by SEBI SEBI has issued a Notification regarding Change in control of the Sponsor and/or Manager of the Alternative Investment Fund involving the scheme of arrangement under the Companies Act, 2013 which shall come into force on April 1, 2022. To streamline the process of providing approval to
The latest Amendment that followed in the month of November, 2021 issued by MCA, RBI, SEBI, DIPP and others.
In this edition we have tried to bring you notice the latest amendment that followed in the month of November, 2021 issued by MCA, RBI, SEBI, DIPP and others. Amendments issued by MCA MCA has removed all the Disqualification of Director Identification Number (DINs) As per the Companies Act, directors for five years are disqualified, if they are part of a company that defaulted on filing financial statements or annual returns for three years or has failed to repay the
Amendments issued by MCA, RBI, SEBI and others
Amendments issued by MCA Relaxations in paying additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) by Limited Liability Partnerships upto 30th December, 2021: MCA issued a Circular, in which MCA announced relaxation on additional fees in filing Form 8 by LLP upto 30th December 2021. Due to the difficulty faced by LLPs as a result of the COVID-19 epidemic, MCA has received a request for an extension of the deadline for completing
Amendments issued by MCA, SEBI, RBI, BSE, NSE, IFSCA, DGFT & Ministry of MSME
In this edition we have tried to bring to your notice the latest amendment that followed in the month of September, 2021 issued by MCA, RBI, SEBI, BSE, NSE and others. Amendments issued by MCA Relaxation for filing Cost Audit Report: MCA has granted relaxation of additional fees and extension of the last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014 due to impact
Amendments issued by MCA & RBI
In this edition we have tried to bring to your notice the latest amendment that followed in the month of August, 2021 issued by MCA and RBI. Amendments issued by MCA Companies (Appointment and Qualification of Directors) Amendment Rules, 2021 In exercise of the powers conferred by section 149 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualification of Directors) Rules,
Recent Amendment by MCA and RBI
In this edition we have tried to bring to your notice the latest amendments that followed in the month of February 2021 issued by MCA and RBI. Amendments issued by MCA Companies (Specification of definitions details) Second Amendment Rules, 2021 In exercise of the powers conferred by the proviso to clause (52) of section 2 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the rules further
Recent Amendment by MCA and RBI
In this edition we have tried to bring to your notice the latest amendments that followed in the month of January 2021 issued by MCA and RBI. Amendments issued by MCA Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL, AOC-4 Non-XBRL for the financial year ended on 31.03.2020 under the companies ac, 2013. Read More: http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.4_29012021.pdf In exercise of the powers conferred by section 135 and sub-sections (1) and (2) of section 469 of