SRJ Legal, Corporate & Legal Advisors

07/05/2022

22/08/2020

May Lord Ganesha destroy all your worries, sorrows and tensions and fill your life with love and happiness.

13/11/2019

IBC proceeds formula may be reworked to avoid squabbles, legal delays - The Economic Times

Distribution of resolution b***y has been a key factor behind extended litigation, delaying major cases.

12/11/2019

https://www.livelaw.in/top-stories/sc-verdict-tomorrow-on-validity-of-provisions-of-finance-act-2017-affecting-tribunals-149700

The Supreme Court will pronounce verdict tomorrow at 2 PM on the pleas challenging the constitutional validity of the provisions of the Finance Act 2017 which affect the composition and functioning...

12/11/2019

Unclaimed Swiss accounts of Indians may get liquidated

A dozen dormant Swiss bank accounts linked to Indians are unclaimed and may soon be liquidated.

12/11/2019

https://www.livemint.com/insurance/news/ibc-proceedings-against-aviva-life-insurance-may-not-impact-policyholders-11573470616366.html

Aviva, which took up office space at Apeejay Express in Vashi, Mumbai in June 2008 owes Apeejay Rs. 27,67,203 in the form of dues.Apeejay which is the operational creditor issued a notice to Aviva in April this year demanding a total sum of Rs. 27,67,203

12/11/2019

https://www.livemint.com/companies/people/another-whistleblower-guns-at-infosys-salil-parekh-11573516260481.html

Another whistleblower from global software major Infosys accused its CEO Salil Parekh of committing misdeeds .The whistleblower has urged the chairman and the board of directors to act against Parekh on his volatile complaints

27/07/2018

06/07/2018

Mandatory KYC for all Directors- (w.e.f. July 10, 2018)

If eForm DIR-3 KYC filed upto 31-08-2018, Fees = Rs 0

If eForm DIR-3 KYC filed after 31-08-2018, Fees = Rs 5000

Every new DIN during the year, will require a DIR-3 KYC to be filed before 30th April of the next financial year.

Non filing of DIR-3 KYC - Regional Director (NR) shall de-activate such DIN.

08/06/2018

Foreign Investment in India -Reporting in Single Master Form

The objective of integrating the extant reporting structures of various types of foreign investment in India, will introduce a Single Master Form (SMF). The SMF would be filed online.

SMF would provide a facility for reporting total foreign investment in an Indian entity {as defined in Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations 2017, dated November 7, 2017}, as also investment by persons resident outside India in an Investment Vehicle.

Prior to the implementation of the SMF, Reserve Bank would provide an interface to the Indian entities, to input the data on total foreign investment in a specified format. The interface will be available on RBI website www.rbi.org.in from June 28, 2018 to July 12, 2018. Indian entities not complying with this pre-requisite will not be able to receive foreign investment (including indirect foreign investment) and will be non-compliant with Foreign Exchange Management Act, 1999 and regulations made thereunder.

https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT194481067EB1B554402821A8C2AB7A52009.PDF

06/06/2018

The President gave assent to promulgate the IBC(Amendment) Ordinance , 2018.
The changes are expected to further strengthen the Insolvency Resolution Framework in the country.

To checkout the further detail refer the below link of the PIB.

The Ordinance provides significant relief to home buyers by recognizing their status as financial creditors. This would give them due representation in the Committee of Creditors and make them an integral part of the decision making process. It will also enable home buyers to invoke Section 7 of the...

02/06/2018

RBI withdraws exemptions granted to Govt. owned NBFCs, thus makes NBFC regulations applicable to Govt. NBFCs; States that currently, Govt. NBFCs, as defined u/s 2(45) of the Companies Act, 2013 and registered with the RBI as NBFCs were exempt from complying with the provisions of –

(i) Sec. 45-IB (maintenance of percentage of assets) and Sec. 45-IC (creation of a reserve fund and transferring a sum not less than 20% of its net profit every year) of the RBI Act, 1934,

(ii) Master Directions - systemically important non-deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016,

(iii) Master Direction - non-systemically important non-deposit taking Company (Reserve Bank) Directions, 2016 and

(iv) Master Direction – NBFC acceptance of public deposits (Reserve Bank) Directions, 2016; Clarifies that NBFCs already complying with the prudential regulations shall continue to follow the same; Prescribes timelines as per which NBFC regulations, inter alia relating to income recognition, asset classification, provisioning requirement, capital adequacy, leverage ratio and corporate governance, shall be applicable to Govt. NBFCs:

RBI May 31, 2018