Month: June 2018

How you get free of cost e-Pan through Income Tax website?

Hello Readers, Trust you’re doing amazing in your life; Today we would like to share a useful information about a new initiative of Income Tax Department. From 29.06.2018, Department of Income Tax providing a facility to get e-Pan free of cost through the official website.  Instant e-PAN allotment (Beta version) in near to real-time is available free of cost for a limited period. Individuals (other than minors) with a valid Aadhaar number (with the updated Mobile number) can avail the e-PAN allotment facility. Click here to apply online | Click here to view the status of pan...

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RBI Penalised Northern Railway Multi-state Primary Co-operative Bank Limited

The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (Rupees one lakh only) on Northern Railway Multi-state Primary Co-operative Bank Ltd., Lucknow in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of RBI Instructions/Guidelines for opening on-site ATM without obtaining prior approval from RBI. The Reserve Bank of India had issued a Show Cause Notice to the bank, in response to which the bank had submitted a written reply. After considering the facts of...

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New RBI Deputy Governor – Shri Mahesh Kumar Jain

Shri Mahesh Kumar Jain took charge as the Deputy Governor of Reserve Bank of India today. The Government of India, on June 4, 2018 has appointed him as the Deputy Governor of Reserve Bank of India for a period of three years from the date of assumption of charge or until further orders, whichever is earlier. Shri Jain was the MD & CEO of IDBI Bank before being appointed as Deputy Governor. As Deputy Governor, Shri Jain will look after the Department of Banking Supervision, Department of Co-operative Banking Supervision, Department of Non-Banking Supervision, Central Security Cell, Department of...

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MCA issued striking off notice to 31250 Companies in Delhi

The Companies mentioned below have not been carrying on any business or operation for a period of two immediately preceding financial years and have not made any application within such period for obtaining the status of the dormant company under Section 455 of the Companies Act, 2013. Any person objecting to the proposed removal/striking off of the name of the companies from the Register of companies may send his/her objection to the office address mentioned hereabove within thirty days from the date of publication of this notice. Click here to view your company...

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IBBI Circular regarding fee and other expenses incurred for Corporate Insolvency Resolution Process

Hello readers, Hope you’re enjoying our corporate law updates. Insolvency and Bankruptcy Board of India issued a circular (Circular No. IBBI/IP/013/2018) dated 12.06.2018 regarding fee and other expenses incurred for Corporate Insolvency Resolution Process. When a corporate debtor undergoes corporate insolvency resolution process (CIRP), an Insolvency Professional (IP) is vested with the management of its affairs and he manages its operations as a going concern. He complies with the applicable laws on behalf of the corporate debtor. He conducts the entire CIRP. Such responsibilities of an IP require the highest level of professional excellence, dexterity, and integrity. He needs to be compensated...

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June 2018
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