BSE SME listing eligibility norms revised due to COVID 19
The Govt. of India has enacted the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 on June 16, 2006 which was notified on 2nd October, 2006 to deal with the definition of MSMEs. The Enterprises are defined in terms of Investment in Plant and Machinery/ Equipment by both Manufacturing & Service Sector.
The definition of MSMEs has been changed by the FM, the investments and turnover limits have increased as per the new definition of MSMEs.
This article will give you a glimpse of provisions prescribed, the procedure involved, practical difficulties and time involved in the conversion of LLP into a private limited company.
Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Circular dated 20th May 2020 providing FAQ'S ON REDUCTION IN STATUTORY RATE OF EPF CONTRIBUTION FROM 12% TO 10%.
Private Placement of Shares : Nine Things to Know
LLP is a body corporate that includes features of both a partnership firm governed by the Indian Partnership Act, 1932, and Private Limited or Limited Company governed by the provision of Companies Act,2013. Since LLP contains elements of both "corporate structure" as well as "partnership firm structure", LLP is called a hybrid between a company and a partnership.
There is a suspension of initiation of insolvency proceedings up to one year depending upon the pandemic situation
The Hon'ble Finance Minister announced in her press briefing regarding various allotment of funds for MSMEs under various heads and she also elaborated the new definition of MSME.
The category of MSME enterprises is determined considering the amount of investment made in a plant, machinery, or equipment. The Investment and Annual Turnover as announced by FM N. Sitharaman on 13th May is now proposed to be revised.
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