National Company Law Tribunal (Amendment) Rules,2017

  [To be published section in the Gazette of India, Extra-ordinary, Part-ll, Section 3]  MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated the 5th July,2017 G.S.R. _ (E).- In exercise of the powers conferred by sub-section (l) and sub-section (2) of section 469 of the Companies Act, 20 13 ( 18 of 2013), the Central Government hereby makes the following rules further to amend the National Company Law Tribunal Rules, 2016, namely:- ( 1) These rules may be called the National Company Law Tribunal (Amendment) Rules, 20 17. (2) They shall come into force on the date of their publication in the Official Gazette. In the National Company Law Tribunal Rules, 2016, after rule 87, the following rule shall be inserted, namely:- ’87A. Appeal or application under sub-section (I) and

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Amendment in Sch.IV of the Companies Act 2013

  [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY’ PART II’ SECTION 3, SUB-SECTION (ii)] Government of India Ministry of Corporate Affairs Notification New Delhi, dated, the 5th July 2017 S.O. _ (E).- In exercise of the powers conferred by sub-section (1) of section 467 of the companies Act,2013 (18 of 2013), the central Government hereby makes the following amendments to Schedule IV of the said Act, namely:- 2. In the Companies Act,2013,in Schedule IV, – (i) in paragraph III, in sub-para (12), for the words “acting within his authority”, the words “act within their authority” shall be substituted; (ii) in paragraph VI, sub-para (2), for the words ” a period of not more than one hundred and eighty days”, the words “three months” shall be substituted; (iii) in

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Property, Plant and Equipment – Proceeds before Intended Use (Proposed amendments to IAS 16)

  Introduction In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 16 Property, Plant and Equipment. The amendments would prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity would recognise those sales proceeds in profit or loss. Invitation to comment ASB invites comments on the Exposure Draft from the public. The downloadable version is available at: http://resource.cdn.icai.org/45787asb35929.pdf How to comment Comments should be submitted using one of the following methods, so as to be received not later than August 31, 2017. 1. Electronically: Visit at the following link (Preferred

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ICAI November 2017 examinations date out

  IMPORTANT ANNOUNCEMENT 23 rd June, 2017 No. 13-CA (EXAM)/N/2017: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the Intermediate (IPC) and Final examinations will be held on the dates given below at the following places provided that sufficient number of candidates offer themselves to appear from each centre. Similarly, Examinations in Post Qualification Courses under Regulation 204, viz.: Management Accountancy Course (MAC) Part – I, Corporate Management Course (CMC) Part – I, Tax Management Course (TMC) Part – I, Insurance and Risk Management (IRM), and International Trade Laws and World Trade Organisation (ITL & WTO), International Taxation-Assessment Test (INTT-AT) examinations (which are open to the members of the Institute) will be

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Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions

  RBI/2017-18/15 DBR.No.Leg.BC.78/09.07.005/2017-18 July 6, 2017 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks Dear Sir/ Madam, Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions Please refer to our circular DBOD.Leg.BC.86/09.07.007/2001-02 dated April 8, 2002 regarding reversal of erroneous debits arising from fraudulent or other transactions. 2. With the increased thrust on financial inclusion and customer protection and considering the recent surge in customer grievances relating to unauthorised transactions resulting in debits to their accounts/ cards, the criteria for determining the customer liability in these circumstances have been reviewed. The revised directions in this regard are set out below. Strengthening of systems and procedures 3. Broadly, the electronic banking transactions can be divided into two categories: i. Remote/ online payment transactions (transactions that

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Small Finance Banks – Compendium of Guidelines on Financial Inclusion and Development

  RBI/2017-18/14 FIDD.CO.SFB.No.9/04.09.001/2017-18 July 6, 2017 The Chairman/ Managing Director/ Chief Executive Officer Small Finance Banks Dear Sir/Madam, Small Finance Banks – Compendium of Guidelines on Financial Inclusion and Development In view of the announcement made in the budget 2014-15 regarding creation of a framework for licensing small banks, and to give a thrust to the supply of credit to micro and small enterprises, agriculture and banking services in unbanked and under-banked regions in the country, Reserve Bank decided to licence new “Small Finance Banks (SFBs)” in the private sector. Following a due process, in-principle approvals were given to ten applicants to set up SFBs vide press release dated September 16, 2015. 2. Subsequently, Operating Guidelines for Small Finance Banks were issued vide Circular DBR.NBD.No.26/16.13.218/2016-17 dated October 6, 2016, which prescribed, inter

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Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Telangana State Co-operative Apex Bank Ltd., Hyderabad

  RBI/2017-18/13 DCBR.RCB.BC.No.01/19.51.025/2017-18 Ashadha 15, 1939 July 06, 2017 All State Co-operative Banks/ Central Cooperative Banks Dear Sir / Madam, Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Telangana State Co-operative Apex Bank Ltd., Hyderabad We advise that the name of “Telangana State Co-operative Apex Bank Ltd., Hyderabad” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by Notification DCBR.CO.RCBD.No.02/19.51.025/2016-17 dated March 29, 2017 published in the Gazette of India (Weekly No. 21 – Part III – Section 4) dated May 27-June 02, 2017. Yours faithfully, (N. Sridhar) General Manager

Online Filing System for Foreign Venture Capital Investors

  CIRCULAR SEBI/HO/IMD/DF1/CIR/P/2017/75 July 06, 2017 All Registered Foreign Venture Capital Investors All Custodian(s) of Securities Dear Sir/Madam, Sub: Online Filing System for Foreign Venture Capital Investors. 1. In order to facilitate ease of operations in terms of applying for registration, reporting and various compliances under SEBI   (Foreign   Venture   Capital   Investors) Regulations,   2000   (hereinafter   referred   to   as   ‘FVCI   Regulations’),   SEBI   has introduced  an  online  system  for  filings  related  to  Foreign  Venture  Capital Investors (FVCI). The online system can be used for application for registration, reporting and  filing under the provisions of FVCI Regulations. 2. All applicants desirous of seeking registration as a FVCI are now required to submit their applications online only, through SEBI Intermediary Portal at https://siportal.sebi.gov.in. Furthermore,   all   SEBI   registered FVCIs are   now  required  to  file  their  compliance

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Revised rates of Rebate of State Levies on Export of Garments and textilemade-up articles w.e.f. 01.07.2017- regarding

  Circular No. 28/2017-Customs F.No.609/56/2017-DBK Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Drawback Division Dated 6 th July, 2017 To Principal Chief Commissioners/Principal Directors General, Chief Commissioners/Directors General, Principal Commissioners/Commissioners, All under CBEC Madam/Sir, Subject: – Revised rates of Rebate of State Levies on Export of Garments and textile made-up articles w.e.f. 01.07.2017 – regarding. Attention is drawn to Ministry’s Circular Nos. 43/2016-Customs dated 31.08.2016 and 08/2017-Customs dated 20.03.2017 regarding implementation of Ministry of Textiles’ (MoT) Scheme for Rebate of State Levies (RoSL) on export of garments and textile made-up articles respectively. 2. It is to bring to your notice that MoT has issued Notification No.14/26/2016-IT dated 27.06.2017 revising the rates of rebate in Schedules I, II and III for the ROSL

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Amendment in Notification No. 12/2012-Cus dated 17.03.2012

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) NOTIFICATION No. 63 /2017-Customs New Delhi, the 05th July, 2017 G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012- Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 185(E), dated the 17th

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