IBBI amends Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (MCA Press Release 20 Sept 2022)

The Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2022 (‘Amendment Liquidation Regulations’) and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2022 (‘Amendment Voluntary Liquidation Regulations’) on 16th September, 2022. To enable better participation of stakeholders and streamline the liquidation … Continue reading IBBI amends Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (MCA Press Release 20 Sept 2022)

Shri Goyal asks Chartered Accountants all over the world to be ambassadors of Brand India

Shri Goyal asks Chartered Accountants all over the world to be ambassadors of Brand India Asks Chartered Accountancy firms in India to develop global partnerships and become international firms Asks Chartered accountants to always do justice to the immense legacy of trust, honesty and high standards left behind by their predecessors Calls upon ICAI to … Continue reading Shri Goyal asks Chartered Accountants all over the world to be ambassadors of Brand India

US Startup SETU

Shri Piyush Goyal launches US Startup SETU – Supporting Entrepreneurs in Transformation and Upskilling programme in Sanfrancisco SETU to connect start-ups in India to US-based investors and start-up ecosystem leaders SETU to provide mentorship and assistance to startups in various areas including funding, market access and commercialization SETU to break geographical barriers between mentors based … Continue reading US Startup SETU

₹ 1,43,612 crore gross GST revenue collected in the month of August 2022

₹ 1,43,612 crore gross GST revenue collected in the month of August 2022 Revenues for the month of August 2022 28% higher than the GST revenues in the same month in 2021 Monthly GST revenues more than the ₹ 1.4 lakh crore for six months in a row Press Release dated 01st Sept 2022 The … Continue reading ₹ 1,43,612 crore gross GST revenue collected in the month of August 2022

Income Tax Department conducts searches in West Bengal on two prominent real estate groups (Press release 31 Aug 2022)

The Income Tax Department carried out a search and seizure operation on 18.08.2022 on two prominent real estate groups of Kolkata. During the course of the search operation, a large number of incriminating evidence including documents and digital data have been found and seized. There are evidences of out of books cash transactions and on-money … Continue reading Income Tax Department conducts searches in West Bengal on two prominent real estate groups (Press release 31 Aug 2022)

Foreign Exchange Management (Overseas Investment) Regulations, 2022 (22 Aug 2022)

RESERVE BANK OF INDIA(FOREIGN EXCHANGE DEPARTMENT)CENTRAL OFFICEMUMBAI 400 001 No. FEMA 400/2022-RB August 22, 2022 Foreign Exchange Management (Overseas Investment) Regulations, 2022 In exercise of the powers conferred by sub-section (1) and clause (a) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes … Continue reading Foreign Exchange Management (Overseas Investment) Regulations, 2022 (22 Aug 2022)

Foreign Exchange Management (Overseas Investment) Directions, 2022 (Dated 22 Aug 2022)

RBI/2022-2023/110A.P. (DIR Series) Circular No.12 August 22, 2022 All Category – I Authorised Dealer Banks Madam/Sir Foreign Exchange Management (Overseas Investment) Directions, 2022 Overseas investments by persons resident in India enhance the scale and scope of business operations of Indian entrepreneurs by providing global opportunities for growth. Such ventures through easier access to technology, research … Continue reading Foreign Exchange Management (Overseas Investment) Directions, 2022 (Dated 22 Aug 2022)

Update on MCA21 Version -3 (Press release 24 Aug 2022)

MCA21 version-3.0 is a technology-driven forward-looking project, envisioned to strengthen enforcement, promote Ease of Doing Business and enhance user experience. MCA21 version-3.0 rollout has been planned in phases to ensure minimum disruption in regulatory filings. 09 company forms (CHG-1, CHG-4, CHG-6, CHG-8, CHG-9, DIR-3 KYC, DIR-3 KYC WEB, DPT-3 and DPT-4) are scheduled to go-live … Continue reading Update on MCA21 Version -3 (Press release 24 Aug 2022)

India-UK agree to exchange experiences and best practices in areas of working of commercial courts, and ADR mechanisms like arbitration and mediation (Press release 23 Aug 2022)

India-UK agree to exchange experiences and best practices in areas of working of commercial courts, and ADR mechanisms like arbitration and mediation Both countries agree to share experiences related to use of technology in case management, justice dispensation and enforcement of contracts Subject of framing regulations for entry of UK Law Firms and Lawyers deliberated … Continue reading India-UK agree to exchange experiences and best practices in areas of working of commercial courts, and ADR mechanisms like arbitration and mediation (Press release 23 Aug 2022)

Income Tax Department conducts searches in Gujarat on a business group primarily engaged in manufacturing and trading of ceramic tiles (Press release 23 Aug 2022)

The Income Tax Department carried out a search and seizure operation on 09.08.2022 on a business group primarily engaged in manufacturing and trading of ceramic tiles. The search action covered a total of 36 premises, spread across Rajkot, Morbi, Ahmedabad, Raipur, Guwahati, Gurgaon, and Kolkata. The search operation also covered persons engaged in providing finance. … Continue reading Income Tax Department conducts searches in Gujarat on a business group primarily engaged in manufacturing and trading of ceramic tiles (Press release 23 Aug 2022)

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