RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 10th January, 2017 No.FEMA.377/ 2016-RB Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifteenth Amendment) Regulations, 2016 G.S.R. 16 (E).—In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47… Read More »
RBI Working Paper* Series No. 1/2017 : How Asset Prices Interact with Bank Credit and Monetary Policy? By Bhupal Singh and Avadhoot R. Nadkarni The Reserve Bank of India placed on its website today a Working Paper titled “How Asset Prices interact with Bank Credit and Monetary Policy? Evidence from Emerging Market and Developing Economies“.… Read More »
SUPREME COURT OF INDIA Siddharth Mehta v. Union of India DIPAK MISRA AND AMITAVA ROY, JJ. WRIT PETITION (CIVIL) NO. 1013 OF 2016 DECEMBER 16, 2016 ORDER 1. Heard Mr. Dhruv Kapur, learned counsel for the petitioner in the presence of petitioner who is personally present. 2. The present writ petition is preferred under Article… Read More »
All you wanted to know about NBFCs (Updated as on January 10, 2017) A. Definitions 1. What is a Non-Banking Financial Company (NBFC)? A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or… Read More »
Exposure Draft of Ind AS XBRL Taxonomy As per the roadmap issued by the Ministry of Corporate Affairs (MCA) in February 2015, certain class of companies have to prepare their financial statements as per Indian Accounting Standards (Ind AS) which are converged with International Financial Reporting Standards (IFRS) w.e.f F.Y. 2016-17. MCA has also notified… Read More »
The Rules regarding Condonation of delay in submission of Forms related to various regulations of the Chartered Accountants Regulations, 1988. Documents to be submitted in case of delay in submission of following Forms:
Facts of the Case The assessee is a Hindu Undivided Family (HUF). During the previous year to the Assessment Year, the assessee had received certain advances from one M/s. G.S. Fertilizers (P) Ltd. In the audit report and annual return for the relevant period, which was filed by it before the Registrar of Companies… Read More »
CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2017/5 January 05, 2017 All recognised/Non-operational /Exited Stock Exchanges. All Exclusively Listed Companies in the Dissemination Board (shares of companies available for buying and selling and not for companies referred as vanishing companies.) Dear Sir/Madam, Sub: Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB). 1. SEBI vide circular dated… Read More »
Guidance Note on Board Evaluation CIRCULAR SEBI/HO/CFD/CMD/CIR/P/2017/004 January 5, 2017 To All listed entities Sir / Madam, Sub: Guidance Note on Board Evaluation 1. The Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”) contain broad provisions on Board Evaluation i.e. evaluation of the performance of: (i) the Board as… Read More »
Clarification regarding Specified Bank Notes (SBNs) There had been various estimates on SBNs tendered in certain sections. We would like to clarify that the periodical SBN figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come… Read More »