Updated as on 26 June 2021 It is mandatory to appoint a Managing Director in case of Listed Companies and the Public limited companies having paid up share capital of INR 100 million (~1.55 m USD). Many Indian subsidiaries of foreign companies follow the general practice of appointing Non-Residents on…

SEBI vide circular dated May 30, 2012 issued guidelines facilitating the exit of Derecognized/Non-operational stock exchanges and exit to the shareholders of exclusively listed companies (ELCs) by allowing them to get listed on nationwide stock exchanges after complying with the diluted listing norms of nationwide stock exchanges, failing which they…

Whether to apply for VAT/Service tax number of wait for GST? For any new start-up, this is common query. Following will provide a cue to reach at solution: - GST isn’t applicable yet. It is proposed that it would be applicable from 1stJuly 2017. So, if one can wait to…

Introduction. During the last 10-15 years, despite of enjoying the demographic dividend and abundance of resources, many projects were stalled thereby reducing the growth of the economy and loss of jobs. The case of Vedanta Resources in Orissa can be quoted as an example. The growth was plagued due to…

With the increasing pace of paperless governance, Reserve Bank of India (RBI) allowed the facility to file form FC-TRS electronically on e-Biz platform vide A.P. (DIR Series) Circular No. 9 dated August 21, 2015. Filing of form FC-TRS electronically through e-biz portal is mandated discontinuing the physical filing w.e.f. February 8, 2016 vide A.P. (DIR Series) Circular…

With notification of Section 248-252 by the MCA vide Notification No. 16/2016 on 26th December, 2016, the process of striking off the name of the Company from the Register of Companies through the Fast Track Exit often called FTE, stands revised. The “Fast Track Exit” mode and now “Strike Off” mode…

As per Section 124(6) of the Companies Act, 2013, all the shares, in respect of which unpaid or unclaimed dividend are transferred to IEPF,shall also be transferred in the name of IEPF within 30 days of such transfer of shares becoming due (Rules are yet to be notified for simplifying…

E-VOTING (Section 108, Rule 20 of Companies (Management and Administration) Rules, 2014. Applicability of section 108 Following companies are mandatorily required to provide e-voting facility: Every Company [other than specified small & medium Enterprises] having its equity shares listed on Recognized Stock Exchange, or A Company having 1000 or more…

Updated as on August 27, 2020 We all know that the Government allocates a unique number for each purpose, for instance, a Passport number (for nationality), a PAN (for tracing one’s income), an Aadhaar number (for residents in India), etc. In the same way, in this article we would discuss…

A person must satisfy the following 2 conditions to qualify as a NRI: He is a person resident outside India, and He is a citizen of India or is an ‘Overseas Citizen of India’ cardholder. As per the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside…