Ozg Law Group, India

18/04/2024

OSP liberalised guidelines for Call Centers

🔖 Distinction between Domestic and International OSPs has been removed. A BPO centre with common Telecom resources will now be able to serve customers located worldwide including in India.

🔖 EPABX (Electronic Private Automatic Branch Exchange) of the OSP can be located anywhere in the world. OSPs apart from utilising EPABX services of the Telecom Service Providers can also locate their EPABX at third Party Data Centres in India.

🔖 With the removal of the distinction between Domestic and International OSP centres, the interconnectivity between all types of OSP centres is now permitted.

🔖 Remote Agents of OSP can now connect directly with the Centralised EPABX/ EPABX of the OSP/ EPABX of the customer using any technology including Broadband over wireline/ wireless.

🔖 No restriction for data interconnectivity between any OSP centres of same company or group company or any unrelated company.

🔖 No Bank Guarantees were to be furnished.

🔖 Work from Home and Work from Anywhere was also permitted.





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.

📌 03. Cloud and Foreign EPABX.

📌 04. Data Privacy Regulations.

📌 05. Telecom Compliance Solution Recommendations.

📌 06. OSP Intimation Services.

📌 07. Work from Home (WFH).

📌 08. Regulatory Updates.

📌 09. CRM Audit Services.

📌 10. Telecom Service Provider - Audit Services.

📌 11. DoT Audit Support Services.

📌 12. WPC compliance.

OSP Advisory Team

Website: ospcompliance.com

24/7 Support 📲 WA.ME/918779696580

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Get OSP Compliance subscription for your BPO or Call Center to avoid any incidental risk or legal trouble.

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02/02/2024

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

19/07/2023

Is your registration Cancelled? ❌
WhatsApp📱WA.ME/919811415831

1) For violation of Section 14 (1) (e)
2) For violation of Section 12(4)(a)(vi)
3) For violation of any other sections.

We can help you right away -

Get FCRA/FEMA information at ₹11/ only.

100% assured and transparent services for all types of rejected or new applications except for any political group backed/linked NGOs.

OZG FCRA/FEMA Consultants
Chat📱WA.ME/919811415831
OZG Law Group (INDIA)

Checklist for FCRA Bank Account opening in NDMB branch, New Delhi.

📌 Common account opening form
📌 Annexure-II form of Controlling Persons
📌 Annexure-IV form of Beneficial owners
📌 declaration on letterhead
📌 PAN Card.
📌 Registration Certificate.
📌 Memorandum and Rules.
📌 Meeting Resolution on NGO letterhead.
📌 Address Proof (Electric/Water/Telephone bills).
📌 ID with all members' details (print copy)
📌 PAN and Aadhar of executive body members.
📌 List of Current Board Members on letterhead.

To get the application form, please visit your nearest SBI branch or email us at: [email protected]

10/06/2023

Directorate of Enforcement (ED) has provisionally attached 48 immovable properties worth Rs 60.44 Crore including flats/shops/lands etc belonging to Gilbert Baptist, his family members/aides and entities controlled by him in a financial fraud case related to diversion of depositors money in Malaika Multi State Credit Cooperative Society (MMCCS) under the provisions of PMLA, 2002.

ED initiated investigation on the basis of FIR and 2 chargesheets filed by the Mira Road Police Station of Maharashtra State Police.

ED investigation revealed that Malaika Multistate Credit Cooperative Society (MMCCS) was established in the year 2010 by Gilbert Baptist, Marceline Baptist. Later, Gilbert Baptist appointed various other dummy Directors of MMCCS. The society was run as a one man show by its Chairman Gilbert Baptist. All other members were following his instruction for day to day operations.. The investors were systematically lured to deposit their savings in multiple schemes, with promises of great returns. But, instead of investing the deposits of the innocent investors in secure businesses or instruments, Gilbert Baptist diverted majority of the funds to his own business ventures.

Gilbert Baptist had opened various business in the names of M/s Malaika Appliances Pvt Ltd (MAPL), Yasoma Industries, Yasoma Wedding Sarees and Malaika Starcity Project etc, which were run from the investments received from MMCCS. The financial auditors of MMCCS pointed out several irregularities during annual periodic audits which were ignored by Gilbert Baptist and his aides. No prudent financial norms for sanctioning loans were followed. The same reckless pattern was followed in his businesses also. He diverted the funds to create properties in the names of himself, his family, his associates, his businesses. His business ventures lost money and soon the accounts of MMCCS became NPA, resulting in losses to thousands of innocent investors. It is estimated that deposits worth Rs 200 Cr.

16/05/2023

Directorate of Enforcement (ED) has seized 3 immovable properties located at Ceejay house, Worli, Mumbai to the extent of Rs 41.64 Crore under the provisions of FEMA 1999 in its investigation against Zavareh Soli Poonawalla & his family members.

ED is investigating a case of misuse of Liberalized Remittance Scheme (LRS) under the provisions of the FEMA 1999 against Zavareh Soli Poonawalla and his family. His name was found in the Panama Papers revelations regarding off-shore entities. ED investigation revealed Zavareh Soli Poonawalla and his family members had remitted foreign exchange abroad by misutilizing the provisions of LRS scheme. They used the maximum permissible limit and from the year 2011-12, they remitted money abroad via mis-declarations under the pretext of 'family maintenance and self-maintenance' etc, however none of their family members was residing abroad or holding NRI status. The entire funds remitted by Zavareh Soli Poonawalla and his family members under LRS were invested into M/s Stallast Limited based in BVI. The funds remitted by Zavareh Soli Poonawalla and his family members were utilized by M/s Stallast Limited to purchase 4 properties at UK. These properties include 4 apartments at Paddington, London. Multiple FEMA contraventions were seen in these transactions. Apart from mis-declarations in the remittances, Zavareh Soli Poonawalla and his family members wrongly claimed these investments as foreign portfolio investments, but in reality, the foreign entity was completely controlled by them and thus, they did ODI in a foreign WoS without due permission of the RBI. The foreign assets were not declared to RBI. They continued to hold above foreign assets till date and are in continuous enjoyment of the same.

The properties abroad were acquired through the funds remitted under LRS to avoid reporting requirements to RBI and thus, Zavareh Poonawalla has mis-utilized the Liberalized Remittance Scheme. Therefore, the equivalent value of properties held by them in India have been seized under the provisions of Section 37A of FEMA. ED has seized Office space at Ceejay House, Worli, Mumbai, by passing an order under FEMA 1999 on 8.5.2023.

- Ozg Lawyers / Enforcement Directorate

RBI Compliance for Banks
Email: [email protected]

FEMA Compliance Advisory
Email: [email protected]

RBI Compliance for NBFCs
Email: [email protected]

16/05/2023

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

12/04/2023

Checklist for CSR 1 Registration

OZG: One-Stop Solutions for NGOs:
WhatsApp Chat 📲 WA.ME/919811415831

📌 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.



TRUST -

1. Trust Deed & PAN Card
2. 12A & 80G Certificate
3. Trustee’s PAN Card, Email ID
4. Trust Email ID & Full Address
5. Digital signature

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SOCIETY -

1. Registration Certificate & PAN Card
2. 12A & 80G Certificate
3. President & Secretary PAN Card, Email ID
4. Society Email ID & Full Address
5. Digital signature

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SEC 8 COMPANY (FOUNDATION)

1. Registration Certificate & PAN Card
2. 12A & 80G Certificate
3. Director's PAN Card, Email ID
4. Company Email ID & Full Address
5. Digital signature

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Fee / Cost -

Registration ₹5000
Digital signature ₹1200
Time: 1 Working Day.



OZG: One-Stop Solutions for NGOs:
WhatsApp Chat 📲 WA.ME/919811415831