Weekly Newsletter - February 21, 2024
Latest additions to CAalley:
News Update:
Acts & Regulations:
Useful Forms:
Exposure Drafts:
From the ICAI:
CA's Referencer:
Legal Updates:
News Update:
Reserve Bank bolsters oversight of fintech firms with more inspections
Lenders form panel to protect bank executives against graft cases
ICAI to suggest ways to improve country's tax to GDP ratio, says Agarwal
Irdai to introduce collaterals for reinsurance transactions with CBRs
Sebi uncovers $241 million accounting issue at Zee
MCA notifies leniency plus regime under the Competition Act 2023
India decides to study the proposal for Brics currency, minus China
A third of withdrawn insolvency processes fully settled, says IBBI
UK says India needs to open its markets much more for a successful FTA
Personal guarantors face more insolvency heat
You've money to buy Go First but not to pay Credit Suisse: SC to Ajay Singh
CBDT sets Rs 1 lakh limit for withdrawal of pending tax demands till AY16
Income Tax Order regarding outstanding direct tax demands
Banks cede microfinance ground to NBFCs
Banks to conduct performance review of advocates to fast-track DRT cases
NFRA's first annual inspection of key audit firms to start by April
IBBI amends the Insolvency Resolution Process for Corporate Persons Regulations
Paytm Payments Bank crisis: RBI releases FAQs for customers
MCA operationalises CPC for Centralised Processing of Corporate Filings
DGGI Summons 10 Foreign Airlines Operating In India Over Alleged GST Evasion
RBI extends Paytm Payments Bank restriction deadline to March 15
Money laundering suspected: More payment banks under scanner
Why did the Supreme Court strike down the Electoral Bonds Scheme?
No TDS on minimum guarantee paid by OYO Rooms to hotels: ITAT
Centre extends 'public utility' deadline for iron and steel industries
Central banks of India, Nepal sign agreement to link UPI-NPI, says RBI
Sebi considering mandatory registration of PMS distributors with APMI
Sebi asks companies for accurate details on end use of IPO funds
Income Tax department issues notices to taxpayers for donations to unrecognized political parties
RBI asks card networks to halt card-based business payments on KYC, fund-use concerns
Irdai draft guidelines to safeguard insurance policyholder interests: 5 major changes proposed
IFSCA to set up int'l arbitration centre at IFSC for dispute resolution
Life insurers ask Irdai to charge surrender value on accumulated premia
KPMG Study Reveals Surprising Plan for ESG Spending by Companies
IESBA proposes ethics changes for sustainability
Exposure Drafts:
Consultation Paper on Ease of Doing Business Initiatives for Portfolio Managers
[Last date for Comments: March 7, 2024]
Exposure Draft Guidelines on Collateralized reinsurance transactions for placement of reinsurance business with Cross Border Reinsurers
[Last date for Comments: March 5, 2024]
Acts & Regulations:
IBBI (Liquidation Process) Regulations, 2016 (Amended upto 12.02.2024)
IBBI (Voluntary Liquidation Process) Regulations, 2017 (Amended upto 31-01-24)
Useful Forms:
The following MCA eForms have been updated:
Form CRA-2
Form of intimation of appointment of cost auditor by the company to Central Government.
Form MSME
Form for furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprise.
Form MGT-15
Form for filing Report on Annual General Meeting
From the ICAI:
Guidance Note on Audit of Banks
(2024 Edition)
CA's Referencer:
Commonly Found Errors in Reporting Practices
[January 2024]
Legal Updates:
Income Tax Order regarding outstanding direct tax demands
Advisory: Enhanced E-Invoicing Initiatives & Launch of Enhanced portal
Deployment and usage of Change Request Form (CRF) on MCA-21 [Circular No.2]
The Companies (Registration Offices and Fees) Amendment Rules, 2024
The CCI (Lesser Penalty) Regulations, 2024
Coming into force of section 33 of the Competition Amendment Act 2023
The IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024
Maintenance of net worth by Fund Management Entity
Modifications to the Master Circular to Unclaimed Amounts of Policyholders
Clarification regarding Notification No. 60 dated 13.02.2024 [Trade Notice No.38]
Amendment in Para 2.51 of Handbook of Procedures, 2023 [Public Notice No.43]
Seeks to amend notification No. 50/2017- Customs dated 30.06.2017 [Notification No.10]
Exchange Rate Notification No. 13/2024-Cus (NT) dated 15.02.2024 [Notification No.13(NT)]
