Ozg Lawyers, Hyderabad

09/06/2024

*Major Changes in DSC as per CCA guidelines which will be effective from 1st July 2024*

The office of Controller of Certifying Authorities ( ) has mandated changes to enhance data security, streamline operations, and improve service delivery. As part of these changes, they’ve issued the IVG ( Guidelines) in alignment with the ( ), 2023.

▶️ Direct invoices will be issued to DSC Applicants by Companies.

▶️ Mobile number should be in the name of DSC Applicant. Telecom Records shall be fetched and verified.

▶️ link will be sent directly to applicants by email and mobile. DSC Dealer won't have the access to Video Link.

▶️ Due to these changes, the price of DSC may increase drastically.

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💁🏻‍♀️ https://YouTube.com/OZGiAN

The official channel of OZGIANs (members and fellows at OZG). Find more at ozgian.com 📬 [email protected]

03/04/2024

*ED action on Coin (a cryptocurrency)*

Directorate of Enforcement (ED), Ahmedabad has provisionally attached movable properties in the form of Crypto currencies, Gold and Cash (in INR and USD) worth Rs. 433 Crore (approx.) which are proceeds of crime in the case of Divyesh Darji and others under the provisions of the Prevention of Money-Laundering Act (PMLA), 2002. ED initiated investigation on the basis of FIRs registered by the CID, Crime, Police Station, Surat under various sections of IPC, 1860, Gujarat Protection of Interests of Depositors Act (GPID), 2003 and Prize Cheat Money Circulation Scheme Banning Act, 1978 against Divyesh Darji, Satish Kumbhani, Shailesh Bhatt and other accused persons.

During investigation under the PMLA, it was revealed that the said properties were not acquired by the concerned persons out of their legitimate income and the same were derived/obtained as the result of commission of Scheduled Offences under the PMLA. ED investigation revealed that during the period from November, 2016 to January, 2018, Satish Kumbhani, the promoter of (a cryptocurrency), established a worldwide network of promoters and induced public to invest in various investment schemes related to Bitconnect Coin by offering huge returns.

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02/02/2024

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The Foreign Contribution Regulation Act ( ) is regulated by the Ministry of Home Affairs (MHA), India. Nowadays, it has been observed that many badly struggle with and are eventually not even able to renew the existing registration.

Here are some best practices for FCRA-registered NGOs:

🔖 1) Maintaining Proper Records:

Maintaining proper records is essential for ensuring transparency in the organization. Every NGO should maintain proper records of all funds received and utilized. These records must be maintained in a prescribed format and must be available for inspection by the authorities.

🔖 2) Submitting Annual Reports:

The NGOs registered under the FCRA must submit annual reports to the MHA. The annual report should include details of all foreign contributions received and utilized during the year. The report must be submitted in a prescribed format, certified by a Chartered Accountant (CA).

🔖 3) Utilization of Foreign Contributions:

NGOs should utilize foreign contributions only for the purposes for which they were received. Utilizing foreign contributions for any other purpose than those for which they were received will be considered a violation of the FCRA.

🔖 4) Comply with the various provisions of FCRA:

The provisions under FCRA are quite strict, and the MHA is proactively monitoring compliance relating to the NGO, the management team should ensure that they comply with the provisions of the FCRA to avoid cancellation of registration. Most NGOs face problems in India due to ignorance and lack of professional services to them.

🔖 5) Use of :

The use of FCRA registration means receiving foreign contributions is equally important to get it renewed. In case, your organization has failed to secure any foreign funds for 2 years continuously [Ref Sec: 14(1)(e), FCRA, 2010] then the chances of its renewal become negligible. Most probably renewal will be refused by MHA due to inactivity.

🔖 6) How can the team help my NGO?

The OZG has been a reputed name in the compliance law sector. We have been serving NGOs for the last 20 years. You can follow our informative pages and stay in touch with our online helpdesk. It costs you only ₹11 to get proper guidance, whenever you need it. In case of any questions or managerial decisions, you can seek our advice over the helpdesk chat or by simply emailing: [email protected]

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31/10/2023

Joining the Account Aggregator Ecosystem as Financial Information User -

🔖 1. Please refer to the RBI Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016.

🔖 2. It has been observed that certain entities, which are eligible to join Account Aggregator (AA) ecosystem as Financial Information Provider (FIP), have onboarded as Financial Information User (FI-U) only. Consequently, such entities are accessing financial information from other FIPs but are not providing the financial information held by them. As such, with a view to ensure efficient and optimum utilisation of the AA ecosystem, it has been decided that regulated entities of the Bank joining the AA ecosystem as FI-U shall necessarily join as FIP also, if they hold the specified financial information and fall under the definition of FIP.

🔖 3. The RBI Master Direction – Non-Banking Financial Company - (Reserve Bank) Directions, 2016, is being modified accordingly.




RBI/2023-24/77
DoR.FIN.REC.53/03.10.123/2023-24

October 26, 2023

- rbicompliance.com

24/05/2023

What is ?

This is a symbol used to trade tokens, a -based , but its tokens are distributed in exchange for an equivalent amount of fiat money deposited into a bank.

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Facebook.com/OZGcoin

🐦OZG Helpdesk📱 WA.ME/919820255831

OZG offers Tech-Law solutions especially digital governance, data protection, process automation, and compliance filings.

10/05/2023

The Liberalised Remittance Scheme is an RBI measure that allows Indian residents to send up to USD250,000 per financial year (April to March) outside India. These funds can be used for any permissible current or capital account transaction, or a combination of both.

Who is eligible to remit funds outside India under the LRS?

The LRS is for people who are residents of India as defined by the Foreign Exchange Management Act (FEMA), 1999. It cannot be used by corporations, partnership firms, Hindu Undivided Family (HUF), trusts, etc.

What are the permissible current account transactions under the LRS?

The following are permissible current account transactions under the LRS:

🚩 Private visit (other than Nepal & Bhutan)

🚩 Gift or donation (including rupee gift) to a Non-Resident Indian (NRI) / Person of Indian Origin (PIO), who is a close relative

🚩 Emigration

🚩 Overseas business trip

🚩 Medical treatment abroad

🚩 Pursuing studies outside India

🚩 Going outside India for employment

🚩 Maintenance of close relatives abroad

FEMA Consultants | Ozg Lawyers | Email: [email protected]

Which capital account transactions are permissible under LRS?

The following are the permissible capital account transactions under LRS:

🚩 Opening a foreign currency account abroad with a bank outside India

🚩 Purchase of foreign property

🚩 Investments in overseas shares, securities, mutual funds, etc

🚩 Setting up wholly owned subsidiaries (WOS) or joint ventures (JV) abroad (subject to stipulated terms and conditions)

🚩 Extending INR loans to NRIs who are relatives as defined in the Companies Act.

What if I need to remit more than USD250,000?

You can remit more than the USD250,000 limit for emigration, medical treatment and overseas education, if it is required by the country of emigration, medical institute offering treatment or the university respectively, but this is subject to certain conditions. In other cases, you will need prior permission from the RBI

25/04/2023

LOAN HARASSMENT / BLACKMAILING PROBLEMS -

Learn @ rbicompliance.com
Chat📱WA.ME/918779696580

*Following actions by recovery agents will be considered harassment:*

📌 Hacking your phone data and blackmailing you.

📌 Contacting your friends and relatives about your debt without your knowledge or acceptance.

📌 Calling you repeatedly and putting mental pressure to pay the loan EMI.

📌 Threatening you or your family or relatives.

📌 Trying to humiliate you by visiting your place of business or home without notice.

📌 Insulting you in public or by circulating WhatsApp messages that you are in debt and unable to pay.



*What are the RBI guidelines for loan recovery agents?*

📌 The RBI has issued some rules for debt collectors (third-party recovery agents) that protect consumers from abuse and mental harassment.

RBI rules include:

📌 The loan recovery agent(s) cannot visit your home without an appointment.

📌 The loan recovery agent(s) cannot call you at work or visit your office without notice.

📌 The loan recovery agent(s) cannot insult or intimidate you in any manner.

📌 The loan recovery agent(s) can't use abusive language while interacting with you.

📌 The loan recovery agent(s) need to carry the bank’s identification and authorization letter.

📌 The loan recovery agent(s) cannot contact you before 7 am and after 7 pm.



*How OZG Lawyers can protect you from harassment?*

We can help you in case you are facing any such harassment. The quick response team at Ozg Lawyers will take action based on your situation and the level of harassment face by you.

📲 Ozg Law Group

Chat📱WA.ME/918779696580

14/04/2023

Police Raid on Call Center engaged in 🟣 Domestic 🟢 International 🟡 MNC

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DM📱

Ozg legal compliance reporting can help OSPs clearly define, assess, and communicate their approach and control environment to their clients. Since the circumstances around each OSP relationship are unique, a leading OSP process leverages a tailored reporting approach that uses multiple reporting methods. By taking the necessary steps to identify the need for our assurance reporting and the appropriate reporting type, the OSP (and the associated users) can determine whether their risk and compliance needs are addressed.



conducts the following independent assessments of an organization’s tech infrastructure to establish if existing controls/processes meet management objectives and to demonstrate controls to customers and their auditors through reporting and integrated requirements.

📌 01. Telecom Compliance Advisory Services.

📌 02. Enterprise Voice & Unified Communications Design Review - Voice, Data & Network.

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14/04/2023

( of Services) Directions, 2023.

for Banks & NBFCs.
W.E.F. 1 October 2023.

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11/04/2023

✅ ✅ . ✅ ✅

OZG: One-Stop Solutions for NGOs:
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📌 No Money Wasting -

Do you like to just spend here and there by simply reading catchy advertising and then ending up waiting for FCRA Funds & Regular CSR Funding for an indefinite period?

"Your answer would be straight away No!"

So, get an exclusive service by Ozgian 24/7 to build a future safe organization. We are serving NGOs for the last 20 years with pan-India clientele. Ozg Legal Services has been recommended by officials from various ministries and departments.



📌 Sec-8 Foundation + FCRA Registration -

If you are facing fundraising problems then you can take an exclusive package for true NGOs developed by Ozgian. We help you to set up an FCRA-registered foundation, a nonprofit foundation under section 8 of the Act, 2013. You can operate with it in all parts of India like a national NGO.

📌 Sec8 Foundation for CSR Funding:

It qualifies for CSR funds from reputed companies recommended by Ozgian 24/7, but that is not possible with trust/society due to many reasons.

📌 OZG COMPLIANCE CARE:

Ozgian 24/7 offers you a free assessment and arranges complete compliance care for FCRA-registered NGOs. We have optimized costs as per your need for every compliance filing.

Contact us for more info:

Phone📱9811415831
Email: [email protected]

Intro Pricing ₹33,000 for filing.
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10/04/2023

FEMA..