The government has recently introduced four new labour codes which subsume 29 current central labour laws (relating to wages, social security, occupational safety and industrial disputes) out of which, the earliest one was dated 100 years old! These codes are required to be implemented form April 1, 2021, but the effective is yet to be notified. As these changes are expected to become effective in less than two months from now, some of the areas which will impact employers and employees are a..
What is the law? The law tells us what is prohibited and what we should do. This is, by all means, changing as the law seeks to enforce broader obligations that are commensurate with business and corporate action, for example, directors' obligations and wellbeing Commitments to monetary advice. However, the actual legal and ethical obligations cannot be compared. Something may be legal, but we may find it unsatisfactory. We may also think something is right, but it may not be legal. Ma..
Majority of Builders have cheated homebuyers in many ways including not giving possession in time, giving delay possession without any compensation for delay, etc. Nowadays homebuyers are gradually becoming active and filing cases against dishonest Builders. Some homebuyers are approaching Police, some are approaching RERA Court/authority and are approaching Consumer Forum. In Consumer Forum generally Builders argue since RERA is there homebuyers can not file complaint ..
The Supreme Court of India, on April 6 2021, pronounced an important ruling in Pepsi Foods Ltd (DCIT v. Pepsi Foods Ltd) relating to stay of demand. The Supreme Court declared a certain part of the third proviso of section 254(2A) of the Income Tax Act, 1961 (IT Act) as being unconstitutional. This proviso authorises automatic vacation of stay of demand after a certain period, even in cases where a delay in hearing of appeals is not attributable to the taxpayer. Tribunal's po..
Yes, the Indian Government on 22nd November, 2018 through MHA circular, has empowered the CEOs of public sector banks to request look-out circulars/notice against wilful defaulters and fraudsters even before FIRs are filed against them. The recommendation had been part of the committee headed by financial services secretary Rajiv Kumar as a step towards the clean banking drive by the government. The home ministry has also issued two circulars, authorising chairman-cum-managing directors or ch..
Shri Amarjeet Singh Executive Director Corporation Finance Department (CFD) Securities and Exchange Board of India SEBI Bhavan, Plot No.C4-A, `G'Block Bandra Kurla Complex, Bandra (East) Mumbai - 400051 Subject: Request to relax the time gap between two board / Audit Committee meetings of listed entities owing to the Second Wave of CoVID-19 pandemic Respected Sir, We wish to draw your kind attention towards the following provisio..
The Labour Codes are already the notified in the Official Gazette of India and the date of its implementation will be notified in the near future. It was expected that it would be notified from 1st April 2021 but it has not happened due to the 2nd wave of the Covid-19 Pandemic gripping the Country. However, once the pandemic situation eases a little, it is expected that the Government would fast track the implementation. Implementing the labour codes would have a far reaching impact on the labou..
Introduction Towards the end of March 2021, the SEBI Board had approved of several amendments to the SEBI (LODR) Regulations, 2015. Pursuant thereto, SEBI has notified on May, 5, 2021, in exercise of its powers under the SEBI Act,1992,amendments to the above Regulations. These Regulations have been christened as the SEBI (LODR) (Second Amendment) Regulations, 2021 and the changes brought above have become enforceable from the date of publication of the Notification in the Official Gazette...
SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 5th May, 2021 SECURITIES AND EXCHANGE BOARD OF INDIA (INTERMEDIARIES) (SECOND AMENDMENT) REGULATIONS, 2021 No. SEBI/LAD-NRO/GN/2021/20.— In exercise of the powers conferred under Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, namely: – ..
Economic offence cover a wide range of offence, from financial crime committed by banks, tax evasion, money laundering crimes committed to public officials (like Bribery, Embezzlements etc.) Economic offences are offences which will not only inflict pecuniary losses but also damage the national economy and may have security implications as well. Corruption is one of the part or more comprehensive phenomena, which is an economic crime. While reading the economic laws being a Chartered Accou..
SEBI Circular mandating to put their skin of key persons of the AMCs under the schemes The Securities and Exchange Board of India (SEBI), the regulator of securities market vide it’s circular SEBI/HO/IMD/IMD-I/DOF5/P/CIR/2021/553 dated 28th April, 2021 naming Alignment of interest of Key Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes, had mandated for AMCs to pay 20% of CTC of Key Employees of AMCs in the form of units managed by them. Bef..
ICSI:PFP:2021 April 22, 2021 Shri Amarjeet Singh Executive Director Securities and Exchange Board of India SEBI Bhavan, Plot No.C4-A, 'G' Block Bandra Kurla Complex, Bandra (East) Mumbai - 400051 Subject : Request for extension of timelines due to COVID-19-reg. Respected Sir, As your goodself is aware that the second wave of COVID-19 pandemic is spreading fast and economy is again gripping in the crisis. The situation in..