Author: Sukhwinder Singh

100% FDI IN SINGLE BRAND RETAIL TRADING

Hello Readers, Hope you are enjoying our corporate law updates and share with your precious circle. Today (10.01.2018) union cabinet approved “100% FDI IN SINGLE BRAND RETAIL TRADING”. Some key points regarding this are:- 100% FDI under automatic route for Single Brand Retail Trading. Clarification that real-estate brooking service does not amount to real estate business and is therefore, eligible for 100% FDI under automatic route. Foreign airlines allowed to invest up to 49% under approval route in Air India. FIIs (Foreign Institutional Investors) /FPIs (Foreign Portfolio Investors) allowed to invest in Power Exchanges through primary market as well...

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Three Provisions of Companies (Amendment) Act, 2017 Important For IBC

The Central Government notified the Companies (Amendment) Act, 2017 (Amendment Act) on 3rd January, 2018. The provisions of this Amendment Act shall come into force on the date or dates as the Central Government may appoint by notification(s) in the Official Gazette. A few provisions in the Amendment Act have important bearing on the working of the Insolvency and Bankruptcy Code, 2016 (Code). Section 53 of the Companies Act, 2013 prohibited issuance of shares at a discount. The Amendment Act now allows companies to issue shares at a discount to its creditors when its debt is converted into shares...

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RBI Introduces ₹ 10 banknote in Mahatma Gandhi (New) Series

The Reserve Bank of India will shortly issue ₹ 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country’s cultural heritage. The base colour of the note is Chocolate Brown. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. All the banknotes in the denomination of ₹ 10/- issued by the Reserve Bank in the earlier series will continue to be legal tender....

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Insolvency Professionals must to use registration number and registered address in all correspondence

Hello readers, Hope you will enjoy our corporate law updates with your dear ones. On 03.01.2018, Insolvency Bankruptcy Board of India (IBBI) issued a circular (Circular No. IP/001/2018) regarding Insolvency Professionals must to use registration number and registered address in all correspondence. You can read full circular here:- It has been observed that a few insolvency professionals are using different addresses and emails while communicating with the stakeholders, despite repeated advice from the Insolvency Bankruptcy Board of India (IBBI) to use the addressees and emails registered with the IBBI in all their communications. It is hereby directed that in...

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Insolvency professional not to outsource his responsibilities – IBBI

Hello Readers..!! Hope you will enjoy our corporate updates. On 03.01.2018 Insolvency and Bankruptcy Board of India issued a circular (Circular No. IP/003/2018) regarding Insolvency professional not to outsource his responsibilities. You may read entire circular here:- The Insolvency and Bankruptcy Code, 2016 (Code) read with regulations made there under cast specific duties and responsibilities on an insolvency professional. An insolvency professional is required to perform certain tasks under the Code while acting as an Interim Resolution Professional, a Resolution Professional, a Liquidator or a Bankruptcy Trustee for various processes. For example, an insolvency professional is required to manage...

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