Category Archives: other Acts

IRDA regulations for Issuance of Capital by Indian Insurance Companies

By | December 23, 2015
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Insurance Regulatory and Development Authority of India (Issuance of Capital by Indian Insurance Companies transacting other than Life Insurance Business) Regulations, 2015 Notification No [ADVT-III/4/Exty./161/15(292)] Ref No F. No. IRDAI/Reg/21/111/2015.—  Dated   15th December, 2015  What is the approval requirement for issuance of Shares by by Indian Insurance Companies transacting other than Life Insurance Business ?… Read More »

Mobile Banking Registration through ATMs

By | December 19, 2015
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RBI/2015-16/269 DPSS.CO.PD.No./1265/02.23.001/2015-2016 December 17, 2015 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / White Label ATM Operators Madam /Dear Sir Mobile Banking Transactions in India – Operative Guidelines for Banks – Customer Registration for… Read More »

RBI guidelines for pricing advances by Banks using Marginal Cost of Funds based Lending Rate

By | December 19, 2015
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Reserve Bank of India RBI/2015-16/273 DBR.No.Dir.BC.67/13.03.00/2015-16 December 17, 2015 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Interest Rates on Advances A reference is invited to paragraph 22 of the first Bi-monthly Monetary Policy Statement 2015-16 announced on April 7, 2015 which stated that in order to improve the efficiency of monetary policy transmission,… Read More »

No attachment of bank account when stay application is pending before first appellate authority

By | December 17, 2015
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Issue  The petitioner preferred an appeal together with the stay application before the Deputy Commissioner of Commercial Tax (Appeals) under section 73 of the Act on 6.7.2015, well within the period of limitation. However, during the pendency of the hearing of the stay application and the appeal, the fourth respondent issued attachment orders dated 21.7.2015,… Read More »

Updates to Al-Qaida Sanctions List

By | December 16, 2015
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Source :Reserve Bank of India RBI/2015-16/268 DBR. AML. No.7835/ 14.06.001/ 2015-16 December 15, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid… Read More »

Income of Minor to be received after majority not to be clubbed in the hands of Parent

By | December 15, 2015
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Section 64(1)(iii) of Income Tax Act, 1961 : Income of Minor Child and Clubbing ? Facts of the Case The brother-in-law of the appellant, namely, Shri Ram Niwas Agarwal had created two trusts for the benefit of two minor children of the appellant, Kapoor Chand. One trust known as Priti Life Trust was for the… Read More »

SEBI LISTING AND DISCLOSURE REGULATIONS 2015

By | December 14, 2015
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SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 NOTIFICATION NO. SEBI/LAD-NRO/GN/2015-16/013, DATED 2-9-2015 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… Read More »

Clause 49 of Equity Listing Agreement

By | December 14, 2015
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Clause 49 of the Equity Listing Agreement SEBI issued CIRCULAR NO. CFD/POLICY CELL/2/2014, DATED 17-4-2014 and mentioned in Part-B – Clause 49 of the Equity Listing Agreement  and it was amended vide circular CIR/CFD/POLICY CELL/7/2014  Dated 15-09-2014  Note  After coming  in to force  SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 NOTIFICATION NO. SEBI/LAD-NRO/GN/2015-16/013, DATED 2-9-2015 the above circulars… Read More »