New features in RTGS System
Posted Date : 24-Jun-2014 , 08:33:33 am | Posted By: CASANSAAR
RBI/2013–14/651DPSS (CO) RTGS No.2589/04.04.017/2013-14
June 20, 2014
The Chairman / Managing Director / ChiefExecutive Officer of participants of RTGS
Madam / Sir,
New features in RTGS System
Please refer to ourcircular DPSS (CO) RTGS No.801/04.04.017/2013-14 dated October 11, 2013regarding the launch of new RTGS system and coming into effect of “RTGS System Regulations 2013”. A reference is also invited to Chapter 9 of the “RTGS System Regulations 2013” where...
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RBI |
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Risk Management and Inter-bank Dealings: Guidelines relating to participation of Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market
Posted Date : 21-Jun-2014 , 07:43:48 am | Posted By: CASANSAAR
RBI/ 2013-14/650A .P. (DIR Series) Circular No. 148
June 20, 2014
To
All Category - I Authorised Dealer banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Guidelines relating to participation of Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market
Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations,...
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Risk Management and Inter-bank Dealings: Guidelines relating to participation of Residents in the Exchange Traded Currency Derivatives (ETCD) market
Posted Date : 21-Jun-2014 , 07:42:43 am | Posted By: CASANSAAR
RBI/2013-14/649A .P. (DIR Series) Circular No. 147
June 20, 2014
ToAll Category - I Authorised Dealer banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Guidelines relating to participation of Residents in the Exchange Traded Currency Derivatives (ETCD) market
Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notificatio...
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Corporate Laws |
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Export and Import of Currency: Enhanced facilities for residents and non-residents
Posted Date : 20-Jun-2014 , 08:15:22 am | Posted By: CASANSAAR
RBI/2013-14/648A .P. (DIR Series) Circular No.146
June 19, 2014
To
All Authorised Persons
Madam/ Sir,
Export and Import of Currency:Enhanced facilities for residents and non-residents
Attention of Authorised Persons is invited to Regulation (3) of Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2009, notified videNotification No.FEMA.258/2013-RB dated February 15, 2013andA.P. (DIR Series) Circular No. No. 39 dated September 6, 2013, in terms of which, a...
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Clarifications on CSR Provisions U/s. 135 of Companies Act, 2013
Posted Date : 20-Jun-2014 , 08:14:32 am | Posted By: CASANSAAR
General Circular No. 21/2014,
Dated: 18th June, 2014
Subject: – Clarifications with regard to provisions of Corporate Social Responsibility under section 135 of the Companies Act, 2013.
This Ministry has received several references and representation from stakeholders seeking clarifications on the provisions under Section 135 of the Companies Act, 2013 (herein after referred as ‘the Act’) and the Companies (Corporate Social Responsibility Policy) Rules, 2014, as well as ac...
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Disclosure of sector-wise advances
Posted Date : 18-Jun-2014 , 09:01:23 pm | Posted By: CASANSAAR
RBI/2013-2014/647DBOD. No.BP.BC.121/21.04.018/2013-14
June 18, 2014
The Chairmen and Managing Directors / Chief Executive Officers ofall Commercial Banks (excluding Regional Rural Banks)
Dear Sir,
Disclosure of sector-wise advances
A reference is invited toparagraph 18of the First Bi-Monthly Monetary Policy Statement 2014-15 announced on April 1, 2014 wherein it was proposed to prescribe certain additional disclosure requirements as per the recommendations of theCommittee on Comprehensive F...
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RBI |
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Annual Return on Foreign Liabilities and Assets Reporting by Indian Companies – Revised format
Posted Date : 18-Jun-2014 , 08:57:58 pm | Posted By: CASANSAAR
RBI/2013-14/646A .P. (DIR Series) Circular No. 145
June 18, 2014
ToAll Category - I Authorised Dealer Banks
Madam / Sir,
Annual Return on Foreign Liabilities and AssetsReporting by Indian Companies – Revised format
Attention of the Authorised Dealer Category – I banks is invited toA.P. (DIR Series) Circular No.133 dated June 20, 2012which stipulated that all Indian companies which have received FDI and/or made FDI abroad in the previous year(s) including the current ye...
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FEMA |
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Clarification with regard to voting through electronic means
Posted Date : 17-Jun-2014 , 07:07:11 pm | Posted By: CASANSAAR
General Circular No. 20/2O14
No. 1/34/2013-cL-V
Government of India
Ministry of Corporate Affairs
5th Floor, A Wing, Shastri Bhavan
Dr R.P. Road, New Delhi
Dated 17th June, 2014
Section 108 of tlle Companies Act, 2013 read with rule 20 of the Companies (Management and Administration) Rules, 2014 deal with theexercise of right to vote by members by electronic means (e-means), The provisions seek to ensure wider shareholders participation in the decisionmaking process in companies. Corpor...
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Cross Border Inward Remittance under Money Transfer Service Scheme
Posted Date : 17-Jun-2014 , 08:22:36 am | Posted By: CASANSAAR
RBI/2013-14/643A. P. (DIR Series) Circular No. 144
June 16, 2014
To,
All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme (MTSS)
Madam / Sir,
Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT)/ Obligation of Authorised Persons under Prevention of Money Laundering Act (PMLA), 2002 - Amendment to Section 13(2) - Cross Border Inward Remittance under Money Transfer Service Scheme
Please refer to ourA.P. ...
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Money changing Activities - Powers of Director to impose Fine
Posted Date : 17-Jun-2014 , 08:21:45 am | Posted By: CASANSAAR
RBI/2013-14/642A. P. (DIR Series) Circular No. 143
June 16, 2014
To,
All Authorised Persons
Madam / Sir,
Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT)/ Obligation of Authorised Persons under Prevention of Money Laundering Act (PMLA), 2002 – Amendment to Section 13(2) – Money Changing Activities
Please refer to ourA.P. (DIR Series) Circular No.17 [A.P. (FL/RL Series) Circular No.04] dated November 27, 2009on &lsq...
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FEMA |
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MCA tweaks norms relating to declaration and payment of dividends
Posted Date : 16-Jun-2014 , 04:56:28 pm | Posted By: CASANSAAR
COMPANIES (DECLARATION AND PAYMENT OF DIVIDEND) AMENDMENT RULES, 2014 - AMENDMENT IN RULE 3
NOTIFICATION NO. GSR 397(E) [F.NO.1/31/2013-CL-V],DATED 12-6-2014
In exercise of the powers conferred under sub-section (1) of section 123 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Declaration and Payment of Dividend) Rules, 2014, namely:—
1.(1) These rules may be called the Companies (Declaration...
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Govt. appoints Official Liquidator at Hyderabad for liquidation of Cos in Telengana
Posted Date : 16-Jun-2014 , 04:55:29 pm | Posted By: CASANSAAR
SECTION 448 OF THE COMPANIES ACT, 1956 - APPOINTMENT OF OFFICIAL LIQUIDATOR - ESTABLISHMENT OF OFFICE OF OFFICIAL LIQUIDATOR AT HYDERABAD FOR DISCHARGING FUNCTIONS OF OFFICIAL LIQUIDATOR IN WHOLE STATE OF TELENGANA
NOTIFICATION NO. S.O. 1524(E) [F. NO. 7/4/2014-CL.I(A)],DATED 13-6-2014
In exercise of powers conferred by section 448 of the Companies Act, 1956 (1 of 1956), the Central Government hereby establish the office of the Official Liquidator at Hyderabad having territorial jurisdiction f...
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Govt. appoints 'ROC' at Hyderabad for registration of Cos in Telengana
Posted Date : 16-Jun-2014 , 04:54:37 pm | Posted By: CASANSAAR
SECTION 396 OF THE COMPANIES ACT, 2013 - REGISTRATION OFFICES - ESTABLISHMENT OF OFFICE OF REGISTRAR OF COMPANIES AT HYDERABAD HAVING TERRITORIAL JURISDICTION IN WHOLE STATE OF TELENGANA
NOTIFICATION NO. S.O. 1525(E) [F. NO. 7/4/2014-CL.I(B)],DATED 13-6-2014
In exercise of powers conferred by sub-section (1) and sub-section (2) of section 396 of the Companies Act, 2013 (18 of 2013), the Central Government hereby establish the office of the Registrar of Companies at Hyderabad having territorial...
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Customs Broker Licensing Regulations 2013- regarding
Posted Date : 15-Jun-2014 , 10:30:14 pm | Posted By: CASANSAAR
Circular No 8/2014-Customs
F. No. 502/07/2013-Cus VI
Government of India
Ministry of Finance,
Department of Revenue
(Central Board of Excise & Customs)
New Delhi, dated the 13thJune, 2014
To
All Chief Commissioners of Customs
All Chief Commissioners of Customs (Preventive)
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs / Customs (Preventive)
All Commissioners of Customs and Central Excise
All Directors General under CBEC
Subject:- Customs...
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Custom |
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The Companies (Meetings and Powers of Board) Amendment Rules, 2014
Posted Date : 13-Jun-2014 , 05:22:28 pm | Posted By: CASANSAAR
[To be published in the Gazette of India, Extraordinary,
Part II, Section 3, Sub-Section (i)]
Government of India
Ministry of Corporate Affairs
NOTIFICATION
New Delhi, the 12 June, 2014
G.S.R -In exercise of the powers conferred undersections 173,175,177,178,179,184,185,186,187,188,189andsection 191read withsection 469of theCompanies Act, 2013(18 of 2013), the Central Government hereby makes the following rules to amend theCompanies (Meetings and Powers of Board) Rules, 2014, namely:-
...
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Transfer of assets of Liaison Office (LO) / Branch Office (BO) / Project Office (PO) of a foreign entity either to its Wholly Owned Subsidiary (WOS) / Joint Venture (JV) / Others in India– Delegation of powers to AD Banks
Posted Date : 13-Jun-2014 , 07:38:13 am | Posted By: CASANSAAR
RBI/2013-14/640
A.P. (DIR Series) Circular No.142
June 12, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Transfer of assets of Liaison Office (LO) / Branch Office (BO) / Project Office (PO) of a foreign entity either to its Wholly Owned Subsidiary (WOS) / Joint Venture (JV) / Others in India– Delegation of powers to AD Banks.
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to theA.P. (DIR Series) Circular No. 88 dated March 01, 201...
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Clarification on Rules prescribed under the Companies Act, 2013- Matters relating to share capital and debentures
Posted Date : 13-Jun-2014 , 07:27:23 am | Posted By: CASANSAAR
General Circular No. 19/2014
No. 1/4/2013-CL-V
Government of India
Ministry of Corporate Affairs
5thFloor, ‘A' Wing, Shastri Bhavan,
Dr. R.P. Road, New Delhi
Dated 12thJune, 2014
To
All Regional Directors,
All Registrars of Companies,
All Stakeholders.
Subject: Clarifications on Rules prescribed under the Companies Act, 2013 - Matters relating to share capital and debentures- reg.
Sir,
Government has received representations from Industry Chambers, Professional Insti...
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Clarification for filing of form No. INC-27 for conversion of company from public to private under the provisions of Companies Act, 2013
Posted Date : 13-Jun-2014 , 07:24:04 am | Posted By: CASANSAAR
General Circular No. 18
File No. MCA 21/72/2014 -e.Gov.
Government of India
Ministry of Corporate Affairs
‘A’ Wing, 5thfloor, Shastri Bhawan
Dr. Rajendra Prasad, New Delhi-110001
Dated: 11 June, 2014
To
All Regional Directors
All Registrars of Companies
All Stakeholders
Subject:- Clarification for filing of form No. INC-27 for conversion of company from public to private under the provisions of Companies Act, 2013-reg.
Sir,
Attention of the Ministry has been dr...
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Corporate Laws |
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Filing of MGT-10-clarification
Posted Date : 13-Jun-2014 , 07:22:58 am | Posted By: CASANSAAR
General Circular No. 17
No. MCA 21/72/2014 -e. Gov.
Government of India
Ministry of Corporate Affairs
‘A’ Wing, 5thfloor, Shastri Bhawan
Dr. Rajendra Prasad, New Delhi-110001
Dated: 11 June, 2014
To
All Regional Directors
All Registrars of Companies
All Stakeholders
Subject:- Filling of MGT-10- clarification-regarding.
Sir,
In continuation ofGeneral Circular No. 06/2014 dated 29.03.2014and 09/2014 dated 25.04.2014, I am directed to inform you that stakeholders...
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CBDT Notified Cost Inflation Index (CII) for F.Y.2014-15
Posted Date : 12-Jun-2014 , 02:16:33 pm | Posted By: CASANSAAR
S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanationto section 48 of the Income-tax Act, 1961 (42 of 1961), the Central Government herebymakes the following amendment in the notification of the Government of India in theMinistry of Finance (Department of Revenue), Central Board of Direct Taxes published inthe Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August,1998, namely:-
2. In the said notification, in the Table, after serial num...
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Income Tax |
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Applicability of PAN requirement for Foreign Nationals.
Posted Date : 11-Jun-2014 , 09:13:49 pm | Posted By: CASANSAAR
General Circular No. 16/2014,
Dated: 10.06.2014
Sub: Applicability of PAN requirement for Foreign Nationals
In continuation of theGeneral Circular No. 12/2014 dated 22.05.2014regards the above subject, it is clarified that theprovisionsof the saidCircularare applicable to a Foreign National who is a subscriber/ promoter at the time ofincorporationof the Company.
2. In case the said subscriber/promoter, does not possess PermanentAccount Number(PAN), he/she shall furnish a declaration in...
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Corporate Laws |
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Exemption from Maintenance of CRR/SLR and Exclusion from ABC for Priority Sector Lending
Posted Date : 11-Jun-2014 , 09:10:56 pm | Posted By: CASANSAAR
RBI/2013-14/639UBD.BPD.(PCB).Cir.No.72/13.01.000//2013-14
June 11, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Sir/Madam,
Section 42(1) of the Reserve Bank of India Act, 1934 andSection 18 & 24 of the Banking Regulation Act, 1949 (AACS)-FCNR (B)/NRE deposits – Exemption from Maintenance of CRR/SLRand Exclusion from ABC for Priority Sector Lending
Please refer to ourcircular UBD.BPD.(PCB).Cir.No.5/13.01.000//2013-14 dated August 27, 2013, in terms of...
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RBI |
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Introduction of Information System(IS) Audit for Urban Cooperative Banks
Posted Date : 11-Jun-2014 , 09:09:52 pm | Posted By: CASANSAAR
RBI/2013-14/638UBD.BPD.Cir.No. 71/12.09.000/2013-14
June 11, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Introduction of Information System(IS) Audit for Urban Cooperative Banks
Please refer to our circular UBD No.POT.PCB.30/09.96.00/2001-02 dated February 12, 2002 advising UCBs to introduce EDP audit system on perpetual basis. It is observed that since then some of the UCBs have adopted technology and have been offering electronic banking, tele banking, electronic...
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RBI |
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CLB can allow further time to companies for repayment of deposits/interest in certain cases
Posted Date : 11-Jun-2014 , 09:15:50 am | Posted By: CASANSAAR
MINISTRY OF CORPORATE AFFAIRS
ORDER
New Delhi, the 6th June, 2014
S.O. 1460(E).— In exercise of the powers conferred by sub-section (1) of Section 470 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following Order, namely:—
1. (1) This Order may be called the Companies (Removal of Difficulties) Fourth Order, 2014.
(2) It shall come into force from the date of notification in the Official Gazztte.
2. Jurisdiction, powers, authority and...
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Corporate Laws |
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Provisions of Sec 74(2) & 74(3) of Companies Act 2013 to come into force from 06.06.2014
Posted Date : 11-Jun-2014 , 09:13:10 am | Posted By: CASANSAAR
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 6th June, 2014
S.O. 1459(E).— In exercise of the powers conferred by sub-section (3) of Section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 6th day of June, 2014 as the date on which the provisions of sub-sections (2) and (3) of Section 74 of the said Act shall come into force.
[F. No. 1/8/2013-CL-V ]
AMARDEEP SINGH BHATIA, Jt.Secy....
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Companies may accept deposits without deposit insurance contract till 31.03.2015
Posted Date : 11-Jun-2014 , 09:11:06 am | Posted By: CASANSAAR
MINISTRY OFCORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 6th June, 2014
G.S.R. 386(E).—In exercise of the powers conferred by Sections 73 and 76 read with sub-section (1) of Section 469 ofthe CompaniesAct, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Acceptance of Deposits) Rules, 2014, namely:-
1. (1) These rules may be called the Companies (Acceptance of Deposits) Amendment Rules, 2014.
(2) They shall come into force fromthe ...
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Corporate Laws |
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Clarifications on Rules prescribed under the Companies Act, 2013 - Matters relating to appointment and qualifications of directors and Independent directors
Posted Date : 10-Jun-2014 , 07:17:50 pm | Posted By: CASANSAAR
MCA - Circular - 9th June - Clarification related to appointment and qualification of Independent Directors (IDs).
1. Any Arms length transaction entered by the ID would not attract the bar of pecuniary relationship as specified in section 149(6)(c).
2. Pecuniary relationship as provided in section 149(6)(c) does not include receipt of remuneration from one or more company by the way of fees under section 197(5), reimbursement of the expenses and profit related commission as approved by the ...
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One Documentary Proof of Address - RBI further simplifies KYC Norms for Bank Accounts
Posted Date : 09-Jun-2014 , 09:29:32 pm | Posted By: CASANSAAR
RBI/2013-14/634DBOD.AML.BC. No. 119/14.01.001/2013-14
June 9, 2014
The Chairperson/CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks / All India Financial Institutions
Dear Sir/ Madam,
Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) /Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 – Clarification on Proof of Address
Please refer toparagraph 2.4(h), (i), (j) (l), (m) andAnne...
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RBI |
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Pledge of shares for business purposes in favour NBFCs
Posted Date : 06-Jun-2014 , 07:21:04 pm | Posted By: CASANSAAR
RBI/2013-14/633A.P. (DIR Series) Circular No.141
June 6, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Pledge of shares for business purposes in favour NBFCs
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the provisions of Para. 2 (i) ofA. P. (DIR Series) Circular No. 57 dated May 2, 2011, in terms of which shares of an Indian company held by the non-resident investor can be pledged in favour of a bank in India to secure t...
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FEMA |
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Foreign investment in India – participation by registered FPIs, SEBI registered long term investors and NRIs in non-convertible/redeemable preference shares or debentures of Indian companies
Posted Date : 06-Jun-2014 , 07:20:17 pm | Posted By: CASANSAAR
RBI/2013-14/632A.P. (DIR Series) Circular No.140
June 6, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Foreign investment in India – participation by registered FPIs, SEBI registered long term investors and NRIs in non-convertible/redeemable preference shares or debentures of Indian companies
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Reside...
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FEMA |
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