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Recent News From Corp Comm Legal

  • SEBI to regulate crowdfunding

    SEBI to regulate crowdfunding

    Published: 31 Jan 2018

    These days, it become quite fashionable for small companies to generate funds via crowd funding on social media platforms for the expansion of the business. Crowdfunding is capital raised from a large number of individuals to finance a business venture. Crowdfunding makes use of the easy accessibility of vast networks of people through social media and crowdfunding websites to bring investors...

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  • New procedure for DIN allotment under consideration

    New procedure for DIN allotment under consideration

    Published: 30 Jan 2018

    Director Identification Number (DIN) is a unique identification number allocated to an individual who is an existing or a potential Director of any Indian company. The government is considering a proposal to brush up the process of DIN allotment. Under the proposal, DIN will be issued to a person only at the time of his appointment as a Director in companies provided such a person does not posse...

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  • Company law amendments to add teeth to IBC

    Company law amendments to add teeth to IBC

    Published: 30 Jan 2018

    Ever since the enforcement of the Insolvency and Bankruptcy Code (IBC), the Central government has been revising various other related laws to ensure effective implementation of IBC provisions and to ensure that no existing law collides with IBC – which could result in the conflict defeating the purpose of IBC. In this background, a notification has been issued by the Central government to the p...

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  • MAT relief for companies facing insolvency proceedings

    MAT relief for companies facing insolvency proceedings

    Published: 29 Jan 2018

    In view of the problems being faced by the companies undergoing insolvency cases under the Insolvency and Bankruptcy Code (IBC), the Central government has relaxed certain norms linked to minimum alternate tax (MAT). This has been effected in order to ease certain procedures for companies fronting such proceedings and expedite quick disposal of insolvency cases. The underlying intent in relaxing...

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  • Stay away from Benami transactions

    Stay away from Benami transactions

    Published: 29 Jan 2018

    Post demonetization, many persons and entities possessing millions and billions of unaccounted/unsecured cash deposited such cash into banks through others with the objective to escape from IT surveillance and safeguard themselves from getting punished for violation of the laws. However, government is in no mood and intent to let so-called tax evaders go unnoticed, unpunished and unaccounted for...

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  • FDI reforms in aviation and retail trading

    FDI reforms in aviation and retail trading

    Published: 28 Jan 2018

    In a major easing of FDI norms in the aviation sector, the Indian government has today allowed foreign airlines to hold up to 100% in Indian aviation companies under the automatic route, with the exception of Air India. Foreign investors have been allowed to invest up to 49% in Air India through government approval route ahead of its proposed privatization. Existing rules allow foreign airline...

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  • Auditing the auditors ...

    Auditing the auditors ...

    Published: 28 Jan 2018

    In the corporate world the financial position of the company is the key component that will certainly decide the destiny (development or destruction) of such company. Audit reporting assumes great importance in substantiating the financial statements of a company and make known the existing state of financial affairs of the company to stakeholders and general public. There is mammoth responsibil...

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  • Tackling the shortage of independent directors

    Tackling the shortage of independent directors

    Published: 27 Jan 2018

    I have been writing frequently on the one-sided, high-handed and unjust treatment met out to independent directors recently by the government which disqualified many, if not, all of them merely because some companies defaulted on their statutory filing. This summary dismissal was against natural justice – they should have been given a chance to submit their case at least. Their woes were compounde...

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