Day: March 7, 2018

Word Format of Affidavit for New Gas Connection

AFFIDAVIT  I, ___________________________ S/o Sh. _________________________________, aged _______ years R/o ___________________________________________, Desire to take domestic LPG connection in my name and affirm as under:- 1.     I am an Indian citizen.  2.     My date of birth is _____________________. 3.     That neither I, nor any other member of  the household (house hold means a family consisting of husband, wife, unmarried children and dependent parents living together in a dwelling unit having common kitchen), possess any LPG connection from PSU Oil Companies or Piped Natural Gas Connection for domestic use in our dwelling unit. 4.     I do not have Ration Card in...

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NFRA to have power to impose penalty on audit firms

The Chartered Accountants Act, 1949 (Act) provides for imposition of penalties on members of the Institute of Charted Accountants of India (ICAI). The ICAI had submitted a proposal to the Government for amendment to the Act to, inter alia, provide for registration of audit firms, procedure for taking necessary disciplinary action against audit firms (on the lines of such procedure for individual members) and imposition of penalties on audit firms. Section 132 of the Companies Act, 2013 provides for constitution of the National Financial Reporting Authority (NFRA) and sub- section (4) thereof confers powers on NFRA, for imposition of...

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199 companies penalized for non-compliance of CSR norms

The Government has accorded permission for initiating penal action against 199 companies for non-compliance of provisions of section 135 read with section 134 (3) (o) of the Act. This was stated by Shri P.P. Chaudhary, Minister of State for Corporate Affairs and Law & Justice in the Rajya Sabha today (06.03.2018). The Government has no proposal to review the state of implementation of the provisions of the existing Act related to Corporate Social Responsibility. Whenever violation of Corporate Social Responsibility (CSR) provisions is found, action under section 134 (8) of the Companies Act, 2013 (the ‘Act’) is...

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