Memo.32708 cfms instructions and clarifications to dd osRajkumar Kamarsu
The document provides instructions from the Government of Andhra Pradesh's Finance Department regarding the implementation of an HRMS module and health cards system using a new Comprehensive Financial Management System (CFMS) online portal. It addresses technical issues raised by Drawing and Disbursing Officers in completing the online submission of employee data. The schedule for data entry is extended and clarification is provided on entering data for different types of employees and subordinate offices. DDOs are responsible for accurate data entry and cannot allow unauthorized access.
The document provides guidance and suggestions to improve procedures for maintaining various financial accounts and records related to forest works. It notes issues like cheques being drawn only at month-end, lack of details recorded in AR and security deposit ledgers, lack of fund application filing, works assigned without approval, lack of registration of contractors used, and delays in tax return filing and bank reconciliation. The author requests preserving cancelled cheques, mentioning cheque dates in ledgers, ensuring works are from registered contractors, updating various registers, and timely filing of returns to address these issues.
National Pension System (NPS) Inter Sector Shifting Form Pankaj Batra
This form can be used for sector shifting for a NPS (national pension system) account in India.
If one wants to move from corporate sector to individual account, or central government to state government linked account (or vice versa) this form can be used.
Appointment and qualifications of directorskushGupta65
DIRECTOR IDENTIFICATION NUMBER (DIN) [SECTION 152 (3) AND SECTIONS 153 TO 159]
“Director Identification Number” (DIN)5: DIN means an identification number allotted by the Central Government to any individual, intending to be appointed as director or to any existing director of a company, for the purpose of his identification as a director of a company.
- Director Identification Number (DIN) is a unique identification number given to directors of companies in India.
- Every individual who is appointed as a director of a company must obtain a DIN by submitting an application to the Central Government.
- If there are any changes to the director's particulars submitted for DIN allotment, the director must notify the Central Government within 30 days using Form DIR-6. The Central Government will then update the director's records after verification.
How you can get a higher pension from EPFO beyond ceiling limit?Amitava Nag
The document summarizes the provisions around obtaining full pension benefits from the Employees' Pension Scheme 1995. Key points:
1. The scheme originally limited maximum pensionable salary but later allowed option for higher contributions on joint request.
2. Recent court rulings have overturned amendments capping contributions, allowing joint requests to be based on actual salary rather than caps.
3. A joint request form is provided for employees and employers to opt into higher contributions from the scheme's inception in 1995.
OBJECTIVE
Companies in Singapore are governed by the laws of Companies Act (the Act), originally enacted in 1967 and which has undergone significant amendments in 2014 and 2017. The Accounting and Corporate Regulatory Authority (ACRA) is the national regulator of business entities and corporate service providers in Singapore. A foreign company may carry on business in Singapore by transferring that Company’s registration from foreign country to Singapore or by registering the branch of the foreign Company in Singapore. In this webinar, transfer of registration of foreign corporate entity to Singapore is covered. The provisions of Transfer of Registration are governed by Part XA of the Act read with Companies (Transfer of Registration) Regulations 2017.
Memo.32708 cfms instructions and clarifications to dd osRajkumar Kamarsu
The document provides instructions from the Government of Andhra Pradesh's Finance Department regarding the implementation of an HRMS module and health cards system using a new Comprehensive Financial Management System (CFMS) online portal. It addresses technical issues raised by Drawing and Disbursing Officers in completing the online submission of employee data. The schedule for data entry is extended and clarification is provided on entering data for different types of employees and subordinate offices. DDOs are responsible for accurate data entry and cannot allow unauthorized access.
The document provides guidance and suggestions to improve procedures for maintaining various financial accounts and records related to forest works. It notes issues like cheques being drawn only at month-end, lack of details recorded in AR and security deposit ledgers, lack of fund application filing, works assigned without approval, lack of registration of contractors used, and delays in tax return filing and bank reconciliation. The author requests preserving cancelled cheques, mentioning cheque dates in ledgers, ensuring works are from registered contractors, updating various registers, and timely filing of returns to address these issues.
National Pension System (NPS) Inter Sector Shifting Form Pankaj Batra
This form can be used for sector shifting for a NPS (national pension system) account in India.
If one wants to move from corporate sector to individual account, or central government to state government linked account (or vice versa) this form can be used.
Appointment and qualifications of directorskushGupta65
DIRECTOR IDENTIFICATION NUMBER (DIN) [SECTION 152 (3) AND SECTIONS 153 TO 159]
“Director Identification Number” (DIN)5: DIN means an identification number allotted by the Central Government to any individual, intending to be appointed as director or to any existing director of a company, for the purpose of his identification as a director of a company.
- Director Identification Number (DIN) is a unique identification number given to directors of companies in India.
- Every individual who is appointed as a director of a company must obtain a DIN by submitting an application to the Central Government.
- If there are any changes to the director's particulars submitted for DIN allotment, the director must notify the Central Government within 30 days using Form DIR-6. The Central Government will then update the director's records after verification.
How you can get a higher pension from EPFO beyond ceiling limit?Amitava Nag
The document summarizes the provisions around obtaining full pension benefits from the Employees' Pension Scheme 1995. Key points:
1. The scheme originally limited maximum pensionable salary but later allowed option for higher contributions on joint request.
2. Recent court rulings have overturned amendments capping contributions, allowing joint requests to be based on actual salary rather than caps.
3. A joint request form is provided for employees and employers to opt into higher contributions from the scheme's inception in 1995.
OBJECTIVE
Companies in Singapore are governed by the laws of Companies Act (the Act), originally enacted in 1967 and which has undergone significant amendments in 2014 and 2017. The Accounting and Corporate Regulatory Authority (ACRA) is the national regulator of business entities and corporate service providers in Singapore. A foreign company may carry on business in Singapore by transferring that Company’s registration from foreign country to Singapore or by registering the branch of the foreign Company in Singapore. In this webinar, transfer of registration of foreign corporate entity to Singapore is covered. The provisions of Transfer of Registration are governed by Part XA of the Act read with Companies (Transfer of Registration) Regulations 2017.
Filing of forms pas 4 and pas-5 in case of issuance of debt securities on pri...GAURAV KR SHARMA
1. The circular discusses rules regarding the filing of Forms PAS-4 and PAS-5 for companies issuing debt securities on a private placement basis.
2. Rule 14(1) requires companies to make offers to subscribe to privately placed securities using Form PAS-4.
3. Rule 14(3) requires companies to maintain records of private placement offers in Form PAS-5 and file copies of the Form PAS-4 offer letter and Form PAS-5 with the Registrar and Securities and Exchange Board within 30 days if listed.
4. Going forward, Forms PAS-4 and PAS-5 must be filed electronically with SEBI in PDF format on a compact disc rather than a physical
The document provides an overview of public issue of debentures by companies in India. It defines debentures and various types of debentures. It discusses the process of public issue of debentures which requires issue of a prospectus, appointment of a debenture trustee, creation of debenture redemption reserve, and compliance with various other statutory requirements. It also describes different types of prospectus that can be issued for public offer of debentures and exceptions available for certain companies.
1. This document is a SIP modification application form that allows an investor to modify details of an existing systematic investment plan (SIP).
2. The investor can modify the selected scheme, SIP installment amount, or SIP end date for a SIP currently being invested in.
3. The request must be submitted at least 10 days prior to the next SIP installment date, excluding the request date and installment date.
4. The modify SIP facility is only available for SIPs registered through a one-time bank mandate or investeasy mandate. The modified details must meet the amount/tenure conditions of the respective scheme's SID.
Subject to change with respect of time. This is purely my interpretation. Suggestion is most welcome. Figures are subject to change and specifically state specific.
Section 9A of the Income Tax Act provides a special tax regime for certain eligible offshore investment funds and their fund managers located in India. Key conditions include the fund being established outside India, having a minimum of 25 non-connected members, and the fund manager being registered with SEBI. The remuneration paid to the fund manager must be at least a prescribed amount calculated based on assets under management. This was introduced to incentivize offshore fund managers to relocate to India while avoiding creating a taxable presence for the offshore fund. However, challenges remain in the tax regime for offshore funds to fully realize the potential of developing an offshore fund management hub in India.
IDFC Corporate Bond Fund_Scheme information documentIDFCJUBI
This document provides information on the IDFC Corporate Bond Fund scheme. Some key points:
- The scheme aims to generate returns through investments predominantly in AA+ and above rated corporate bonds.
- It seeks to provide steady income and capital appreciation while maintaining a moderate risk profile for investors.
- The scheme will invest primarily in corporate debt securities across maturities with a focus on high credit quality issuers.
- It offers both growth and dividend options under a regular and direct plan. Investments can be made through various modes and are redeemable through the mutual fund.
- Benchmark for performance is the Nifty AAA Short Duration Bond Index and NAV will be declared daily. Returns are not guaranteed and subject to market risks
PNBHFL provides safe investment options to various deposit schemes with attractive rate of interest. With over two decades of specialized experience in housing finance, PNBHFL has a robust network of branches spread across the country which help it customers avail financial services (loans and deposits) seamlessly.
In the day to day operations of the business, it is essential to have grip on Tax Deducted at Source (TDS) which acts as a means to collect tax at the inception of the income itself and Tax Collected at Source (TCS) where a seller collects a certain amount of tax from the buyer at the time of sale. In this webinar we will be learning the applicability, non-applicability, prevailing rate of tax and other related provisions of the Income-tax Act with respect to TDS and TCS
How foreign company establishes place of business in singaporeDVSResearchFoundatio
OBJECTIVE
Companies in Singapore are governed by the laws of Companies Act (the Act), originally enacted in 1967 and which has undergone significant amendments in 2014 and 2017. The Accounting and Corporate Regulatory Authority (ACRA) is the national regulator of business entities and corporate service providers in Singapore. A foreign company may carry on business in Singapore by transferring that Company’s registration from foreign country to Singapore or by registering the branch of the foreign Company in Singapore. In this webinar, we shall understand the provisions pertaining to registering the branch of a Foreign Company in Singapore as enshrined in the Act.
This document outlines the Republic Act No. 9280 which regulates the practice of customs brokers in the Philippines. Some key points:
1) It creates a Professional Regulatory Board for Customs Brokers under the supervision of the Professional Regulation Commission to oversee standards and registration of customs brokers.
2) It defines customs brokers as individuals who have a valid Certificate of Registration and Professional Identification Card issued by the Board.
3) It establishes requirements for licensure including passing an examination, holding a bachelor's degree in customs administration, and being of good moral character. Registered brokers are given certificates and identification cards.
Appointment of Registered Valuer under the Companies Act, 2013DVSResearchFoundatio
This document provides an overview of the appointment of registered valuers under the Companies Act 2013 in India, including:
- When valuation is required under the Act for various corporate actions like mergers, preferential shares issuance, etc.
- The eligibility requirements to become a registered valuer, including qualifications, experience, and passing a valuation examination.
- The process for applying for and obtaining a certificate of registration from the authority (currently IBBI), and the ongoing conditions of registration.
- Requirements for how valuations must be conducted, including following valuation standards and what must be included in valuation reports.
- Provisions for temporary surrender of registration and transitional arrangements for existing valuers to obtain registration
IDFC Focused Equity Fund_Scheme information documentIDFCJUBI
The document provides information on the IDFC Focused Equity Fund scheme. In 3 sentences:
The scheme aims to generate long-term capital appreciation by investing in a concentrated portfolio of up to 30 stocks. It is an open-ended equity scheme that will predominantly invest in equity and equity-related instruments. The scheme benchmarks its performance against the S&P BSE 500 TRI index and is managed by Mr. Sumit Agarwal since October 2016.
This document provides details about the recent notification issued by the Ministry of Corporate Affairs (MCA) regarding approval of startups for income tax exemption on investments received from angel funds under Section 56 of the Income Tax Act of 1961. Key points include:
1. Startups recognized by the Department for Promotion of Industry and Internal Trade (DIPP) can apply for approval if their paid up capital and premium is less than Rs. 10 crores and the investor has an income over Rs. 50 lakhs and a net worth over Rs. 2 crores.
2. The application process involves submitting Form 2 to DIPP along with documents including startup accounts and investor tax returns and net worth proof. DIP
SEBI(LODR) Regulations, 2015- Obligations on listing of specified securities-...DVSResearchFoundatio
Key Takeaways:
- Transfer / transmission of securities
- Shares with superior voting rights
- Book closure / Record date
- Dividend and dividend distribution policy
Key Takeaways:
Restrictions on allotment and commencement of business
Allotment of shares by private and public companies
Rights and powers attaching shares
Issue of shares with differential voting rights
The document outlines the reporting requirements for prospectuses issued by companies in India according to the Companies (Prospectus and Allotment of Securities) Rules, 2014. It specifies that prospectuses must include:
1) Information about the company, its directors, promoters, issue details, and use of funds
2) Auditor reports on the company's profits/losses, assets/liabilities, and business for the past 5 years
3) Details of any acquisitions to be funded by the issue, including auditor reports on profits/losses and assets/liabilities of acquired companies
4) Related party transactions, material contracts, and inspection/investigation history of the company
The goal is to
The new Companies Law 2013 (India) - Chapter 3: Prospectus and Allotment of S...Bold Kiln
The document outlines the reporting requirements for prospectuses issued by companies in India. It specifies that prospectuses must include:
1) Key details about the company issuing the shares, the offer, and those involved like bankers, advisors.
2) Information about the company's capital structure, shareholding details, use of proceeds from previous offers, and financial performance over past 5 years.
3) Details of directors, their interests, related party transactions, pending litigation and qualifications from auditors.
4) Reports from auditors commenting on the company's profits/losses, assets/liabilities, and any businesses being acquired using the offering's proceeds.
The prospectus must contain these disclosures to
Filing of forms pas 4 and pas-5 in case of issuance of debt securities on pri...GAURAV KR SHARMA
1. The circular discusses rules regarding the filing of Forms PAS-4 and PAS-5 for companies issuing debt securities on a private placement basis.
2. Rule 14(1) requires companies to make offers to subscribe to privately placed securities using Form PAS-4.
3. Rule 14(3) requires companies to maintain records of private placement offers in Form PAS-5 and file copies of the Form PAS-4 offer letter and Form PAS-5 with the Registrar and Securities and Exchange Board within 30 days if listed.
4. Going forward, Forms PAS-4 and PAS-5 must be filed electronically with SEBI in PDF format on a compact disc rather than a physical
The document provides an overview of public issue of debentures by companies in India. It defines debentures and various types of debentures. It discusses the process of public issue of debentures which requires issue of a prospectus, appointment of a debenture trustee, creation of debenture redemption reserve, and compliance with various other statutory requirements. It also describes different types of prospectus that can be issued for public offer of debentures and exceptions available for certain companies.
1. This document is a SIP modification application form that allows an investor to modify details of an existing systematic investment plan (SIP).
2. The investor can modify the selected scheme, SIP installment amount, or SIP end date for a SIP currently being invested in.
3. The request must be submitted at least 10 days prior to the next SIP installment date, excluding the request date and installment date.
4. The modify SIP facility is only available for SIPs registered through a one-time bank mandate or investeasy mandate. The modified details must meet the amount/tenure conditions of the respective scheme's SID.
Subject to change with respect of time. This is purely my interpretation. Suggestion is most welcome. Figures are subject to change and specifically state specific.
Section 9A of the Income Tax Act provides a special tax regime for certain eligible offshore investment funds and their fund managers located in India. Key conditions include the fund being established outside India, having a minimum of 25 non-connected members, and the fund manager being registered with SEBI. The remuneration paid to the fund manager must be at least a prescribed amount calculated based on assets under management. This was introduced to incentivize offshore fund managers to relocate to India while avoiding creating a taxable presence for the offshore fund. However, challenges remain in the tax regime for offshore funds to fully realize the potential of developing an offshore fund management hub in India.
IDFC Corporate Bond Fund_Scheme information documentIDFCJUBI
This document provides information on the IDFC Corporate Bond Fund scheme. Some key points:
- The scheme aims to generate returns through investments predominantly in AA+ and above rated corporate bonds.
- It seeks to provide steady income and capital appreciation while maintaining a moderate risk profile for investors.
- The scheme will invest primarily in corporate debt securities across maturities with a focus on high credit quality issuers.
- It offers both growth and dividend options under a regular and direct plan. Investments can be made through various modes and are redeemable through the mutual fund.
- Benchmark for performance is the Nifty AAA Short Duration Bond Index and NAV will be declared daily. Returns are not guaranteed and subject to market risks
PNBHFL provides safe investment options to various deposit schemes with attractive rate of interest. With over two decades of specialized experience in housing finance, PNBHFL has a robust network of branches spread across the country which help it customers avail financial services (loans and deposits) seamlessly.
In the day to day operations of the business, it is essential to have grip on Tax Deducted at Source (TDS) which acts as a means to collect tax at the inception of the income itself and Tax Collected at Source (TCS) where a seller collects a certain amount of tax from the buyer at the time of sale. In this webinar we will be learning the applicability, non-applicability, prevailing rate of tax and other related provisions of the Income-tax Act with respect to TDS and TCS
How foreign company establishes place of business in singaporeDVSResearchFoundatio
OBJECTIVE
Companies in Singapore are governed by the laws of Companies Act (the Act), originally enacted in 1967 and which has undergone significant amendments in 2014 and 2017. The Accounting and Corporate Regulatory Authority (ACRA) is the national regulator of business entities and corporate service providers in Singapore. A foreign company may carry on business in Singapore by transferring that Company’s registration from foreign country to Singapore or by registering the branch of the foreign Company in Singapore. In this webinar, we shall understand the provisions pertaining to registering the branch of a Foreign Company in Singapore as enshrined in the Act.
This document outlines the Republic Act No. 9280 which regulates the practice of customs brokers in the Philippines. Some key points:
1) It creates a Professional Regulatory Board for Customs Brokers under the supervision of the Professional Regulation Commission to oversee standards and registration of customs brokers.
2) It defines customs brokers as individuals who have a valid Certificate of Registration and Professional Identification Card issued by the Board.
3) It establishes requirements for licensure including passing an examination, holding a bachelor's degree in customs administration, and being of good moral character. Registered brokers are given certificates and identification cards.
Appointment of Registered Valuer under the Companies Act, 2013DVSResearchFoundatio
This document provides an overview of the appointment of registered valuers under the Companies Act 2013 in India, including:
- When valuation is required under the Act for various corporate actions like mergers, preferential shares issuance, etc.
- The eligibility requirements to become a registered valuer, including qualifications, experience, and passing a valuation examination.
- The process for applying for and obtaining a certificate of registration from the authority (currently IBBI), and the ongoing conditions of registration.
- Requirements for how valuations must be conducted, including following valuation standards and what must be included in valuation reports.
- Provisions for temporary surrender of registration and transitional arrangements for existing valuers to obtain registration
IDFC Focused Equity Fund_Scheme information documentIDFCJUBI
The document provides information on the IDFC Focused Equity Fund scheme. In 3 sentences:
The scheme aims to generate long-term capital appreciation by investing in a concentrated portfolio of up to 30 stocks. It is an open-ended equity scheme that will predominantly invest in equity and equity-related instruments. The scheme benchmarks its performance against the S&P BSE 500 TRI index and is managed by Mr. Sumit Agarwal since October 2016.
This document provides details about the recent notification issued by the Ministry of Corporate Affairs (MCA) regarding approval of startups for income tax exemption on investments received from angel funds under Section 56 of the Income Tax Act of 1961. Key points include:
1. Startups recognized by the Department for Promotion of Industry and Internal Trade (DIPP) can apply for approval if their paid up capital and premium is less than Rs. 10 crores and the investor has an income over Rs. 50 lakhs and a net worth over Rs. 2 crores.
2. The application process involves submitting Form 2 to DIPP along with documents including startup accounts and investor tax returns and net worth proof. DIP
SEBI(LODR) Regulations, 2015- Obligations on listing of specified securities-...DVSResearchFoundatio
Key Takeaways:
- Transfer / transmission of securities
- Shares with superior voting rights
- Book closure / Record date
- Dividend and dividend distribution policy
Key Takeaways:
Restrictions on allotment and commencement of business
Allotment of shares by private and public companies
Rights and powers attaching shares
Issue of shares with differential voting rights
The document outlines the reporting requirements for prospectuses issued by companies in India according to the Companies (Prospectus and Allotment of Securities) Rules, 2014. It specifies that prospectuses must include:
1) Information about the company, its directors, promoters, issue details, and use of funds
2) Auditor reports on the company's profits/losses, assets/liabilities, and business for the past 5 years
3) Details of any acquisitions to be funded by the issue, including auditor reports on profits/losses and assets/liabilities of acquired companies
4) Related party transactions, material contracts, and inspection/investigation history of the company
The goal is to
The new Companies Law 2013 (India) - Chapter 3: Prospectus and Allotment of S...Bold Kiln
The document outlines the reporting requirements for prospectuses issued by companies in India. It specifies that prospectuses must include:
1) Key details about the company issuing the shares, the offer, and those involved like bankers, advisors.
2) Information about the company's capital structure, shareholding details, use of proceeds from previous offers, and financial performance over past 5 years.
3) Details of directors, their interests, related party transactions, pending litigation and qualifications from auditors.
4) Reports from auditors commenting on the company's profits/losses, assets/liabilities, and any businesses being acquired using the offering's proceeds.
The prospectus must contain these disclosures to
This notification outlines new rules for the registration of foreign companies in India under the Companies Act, 2013. Some key points:
- It defines terms like "electronic mode", "fees", and "forms" for registration.
- Foreign companies must deliver details of directors and secretaries to the Registrar within 30 days of establishing a place of business in India.
- Financial statements must be prepared according to Schedule III of the Companies Act and additional documents like related party transactions must be attached.
- Accounts must be audited by a chartered accountant in India.
- An annual return must be filed within 60 days of the financial year end with details of places of business.
This document provides guidelines for applying for a Class II (A) telecom license in Oman. It outlines the application process, including submitting 4 printed copies of the application and a CD/DVD to the Telecommunications Regulatory Authority (TRA) along with a 2000 Rial application fee. It lists the information required in the application, such as organizational structure, financial plans, experience in telecom services, and competition strategies. Applicants must provide evidence of various criteria around financial capability, business plans, funding plans, and experience operating in competitive telecom markets. Successful applicants will need to launch the proposed commercial services and provide a performance bond of 7% of capital investment.
OBJECTIVE
Winding up is the final stage in the business cycle of a Company. It is the process of closing down the legal existence of a Company. It can be done either by the Company on its own (voluntary winding up) or by an order passed by the Tribunal (compulsory winding up). Provisions under Companies Act, 2013 with respect to voluntary winding up are omitted and shifted to Insolvency and Bankruptcy Code, 2016 (“the Code”). The webinar covers the aspects of provisions involved in voluntary winding up as enshrined under the Code read with Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.
SEBI (LODR) Regulations, 2015- Obligations on listing of NCDs / NCRPs - Part IIDVSResearchFoundatio
Key Takeaways:
- Intimations to debenture trustees / holders of NCDs and NCRPs
- Structure / terms of NCDs and NCRPs
- Record date
- Functional Website
SEBI - Standardised norms for transfer of securities in physical mode - 06 No...Venkatesh Prabhu
The document provides standardized norms for transferring securities in physical mode in India. Key points:
- Requirements for physical security transfers prescribed by SEBI have led to varying documentation demands across registrars. This causes difficulties for transferees.
- Standardized process introduced: allows transfers without transferor PAN if before 2015; additional documents like passport/marriage certificate needed for PAN-name mismatches.
- For unsigned/mismatched transfers, registrars must make efforts to contact transferor. If not possible, transferee provides indemnity bond and securities are locked for 6 months, with details published.
- Address mismatches also allowed if bank attests new address. Overall aims to ease physical
1. The document outlines the terms of a listing agreement between an issuer and the stock exchange for listing the issuer's securities on the SME exchange.
2. Key terms include that the issuer will issue letters, certificates, and receipts according to the stock exchange's requirements, consolidate or split certificates as needed, accept documents lodged through the clearing house, and handle unclaimed shares according to specified procedures.
3. The issuer also agrees not to charge fees for certain registration and replacement services beyond what is agreed with the stock exchange.
What are the provisions governing maintenance of registers under singapore co...DVSResearchFoundatio
Key Takeaways:
Maintenance of registers under Singapore Companies Act
Electronic register of members of private companies
Registers maintained by the Registrar
Registers maintained by the Company
1. The document outlines rules for the registration of companies under Part I of Chapter XXI of the Companies Act, 2013. It details the process and requirements for registering a limited liability partnership, firm, cooperative society, or other business entity as a company with limited liability.
2. Key requirements for registration include submitting documents like member lists, director details, affidavits, entity formation documents, financial statements, and evidence of member consent. Advertisements must be published to notify the public and allow for objections.
3. Once the Registrar reviews the application and ensures any objections are addressed, they may issue a certificate of incorporation, officially registering the new company if all criteria are met. The rules aim to standard
The document defines a Permanent Account Number (PAN) as a 10-character alphanumeric code issued by the income tax department to identify taxpayers. PAN is mandatory for certain individuals and entities, including those with income above a threshold, or involved in certain business transactions. It must be quoted on all tax-related documents and correspondence. Failure to apply for or quote PAN can result in penalties. PAN details are also required for transactions like opening bank accounts, purchasing vehicles, mutual funds or property to curb tax evasion.
How to register a venture capital fund in indiabrijshakun
This document provides guidance on how to get registered as a venture capital fund in India with the Securities and Exchange Board of India (SEBI). It outlines the application process and documents required, including a Form A application, memorandum and articles of association or trust deed, investment management agreement, details on the sponsor/settlor, trustees, investment manager, and investment strategy. Once all requirements are met, including fit and proper person criteria, and fees are paid, SEBI will grant registration as a venture capital fund. The process depends on the applicant providing all necessary information in a timely manner.
SEBI_Guidelines for public issue of units of InvITs_Reits_ Amendments_15 Janu...Venkatesh Prabhu
The document is a regulatory bulletin from Beacon Trusteeship Ltd that summarizes recent amendments made by SEBI to REIT and InvIT guidelines.
For REIT guidelines, key amendments include changing the definition of institutional investors, allowing for extension of bidding periods in certain circumstances, and reducing the time required to announce floor/offer prices.
For InvIT guidelines, similar changes were made including changing the definition of institutional investors, restrictions on applications by associated merchant bankers, and allowing for extension of bidding periods. The amendments aim to further rationalize and ease the public issue process for REITs and InvITs.
The issuer must submit the listing application along with required disclosures to the recognized stock exchange within 15 days of allotting securities. Documents that must be submitted include the memorandum and articles of association, resolutions for allotting debt securities, audited annual reports for the last 3 years, material contracts, and a board resolution authorizing borrowing. The issuer must also submit an undertaking to create any required charges within the prescribed timeframe and upload the documents on the designated stock exchange website within 5 days. Additional documents may be requested. At allotment, the issuer must submit documents like the memorandum, resolutions, audited reports, and latest audited financials to the debenture trustee electronically. Background information on the issuer and issue arrangers must
The document discusses the definition and requirements of a prospectus under Indian law. Key points include:
- A prospectus is a formal document that provides details about a company's securities offering, financial position, and use of funds being raised.
- It must be filed with the registrar and contain specified disclosures like director details and audit reports.
- Variations to the prospectus terms require shareholder approval. Untrue statements can lead to civil or criminal liability.
- Shelf and red herring prospectuses are types that allow future offers without additional filings, within certain validity periods.
- Abridged prospectuses provide investors a brief summary of key prospectus information.
Registering Valuer’s Information in PAS 3 Form: Understanding Additional Deta...MY Valuation
Are you confused about which information to enter in the revised Form PAS-3? Read here to know more about the new Valuation Fields to fill in the PAS-3 Form.
SEBI (LODR) – Obligations on listing of specified securities / NCDs / NCRPS /...DVSResearchFoundatio
The document discusses the obligations of listed entities on Indian stock exchanges that have listed specified securities such as non-convertible debentures (NCDs), non-convertible redeemable preference shares (NCRPs), or Indian depository receipts (IDRs). It outlines disclosure requirements for material events, financial results, annual reports, and corporate governance practices. It also describes the process for issuing IDRs and the general obligations of listed entities with respect to providing information to IDR holders.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
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Pas 3 for private placement
1. PAS- 3 for Private Placement.
eForm PAS-3 is required to be filed pursuant to Section 39(4) and 42(9) of the Companies Act, 2013 and rule 12 and
14 Companies (Prospectus and Allotment of Securities) Rules, 2014 .
i. A company having a share capital makes any allotment of securities, it shall file with the Registrar a return of
allotment in Form PAS-3 in such manner as may be prescribed.
ii. PAS -3 shall include the following attchments:
The complete list of all security-holders, with their full names, addresses, number of securities allotted and
such other relevant information as may be prescribed.
A copy of the contract, duly stamped, pursuant to which the securities have been allotted together with any
contract of sale if relating to a property or an asset, or a contract for services or other consideration.
A report of a registered valuer in respect of valuation of the consideration shall also be attached along with
the contract as mentioned in sub-rule (3) and sub-rule (4).
In the case of issue of bonus shares, a copy of the resolution passed in the general meeting authorizing the
issue of such shares shall be attached to the Form PAS-3.
the proposed offer of securities or invitation to subscribe securities has been previously approved by the
shareholders of the company, by a Special Resolution, for each of the Offers or Invitations
the explanatory statement annexed to the notice for the general meeting the basis or justification for the
price (including premium, if any) at which the offer or invitation is being made shall be disclosed.
Provided further that in case of offer or invitation for non-convertible debentures, it shall be sufficient if the
company passes a previous special resolution only once in a year for all the offers or invitation for such
debentures during the year.
The company shall maintain a complete record of private placement offers in Form PAS-5:
Provided that a copy of such record along with the private placement offer letter in Form PAS-4* shall be filed
with the Registrar with fee as provided in Companies (Registration Offices and Fees) Rules, 2014 and where the
company is listed, with the Securities and Exchange Board within a period of thirty days of circulation of the
private placement offer letter
i. such offer or invitation shall be made to not more than two hundred persons in the aggregate in a
financial year:
ii. no offer or invitation of another kind of security shall be made unless allotments with respect to offer or
invitation made earlier in respect of any other kind of security is completed;
iii. the value of such offer or invitation per person shall be with an investment size of not less than twenty
thousand rupees of face value of the securities;
iv. the payment to be made for subscription to securities shall be made from the bank account of the person
subscribing to such securities and the company shall keep the record of the Bank account from where
such payments for subscriptions have been received:
v. A return of allotment of securities under section 42 shall be filed with the Registrar within thirty days
of allotment in Form PAS-3 and with the fee as provided in the Companies (Registration Offices and
Fees) Rules, 2014 along with a complete list of all security holders containing-
the full name, address, Permanent Account Number and E-mail ID of such security holder; (ii) the class of
security held;
the date of allotment of security ;
the number of securities held, nominal value and amount paid on such securities; and particulars of
consideration received if the securities were issued for consideration other than cash.
iii. The provisions of clauses (b) and (c) of sub-rule (2) shall not be applicable to –
(a) Non-banking financial companies which are registered with the Reserve Bank of India under Reserve
Bank of India Act, 1934; and
(b) Housing finance companies which are registered with the National Housing Bank under
National Housing Bank Act, 1987, if they are complying with regulations made by Reserve Bank of India
or National Housing Bank in respect of offer or invitation to be issued on private placement basis.
2. Processing Type
The eForm will be auto approved (STP)
SRN Generation
On successful submission of the eForm PAS-3, SRN will be generated and shown to the user which will be used
for future correspondence with MCA.
Challan Generation
On successful submission of the eForm PAS-3, Challan will be generated depicting the details of the fees paid
by the user to the Ministry. It is the acknowledgement to the user that the eForm has been filed.
Email : When an eForm is registered by the authority concerned, an acknowledgement of the same is sent to
the user in the form of an email at the end of the day to the email id of the company.
*Pas 4 : Following are the ANNEXURE to attach :
Details of other Directorships
Abridged Balance Sheet as at (restated)
Abridged Profit & Loss Account for the year ended (restated)
Abridged Cash Flow Statement for the year ended
NPBT and NPAT for the year ended
Interest Coverage Ratio for the year ended
Details of transactions with related
parties are given as under:
Debenture Details
Details of Branches of the
Company/Details of Nodal/Compliance
Officer
Disclosure Document (term sheet)
EGM-Resolution
BM-Resolution
Consent Letter- from trustee