The Central Govt. has notified revised method of classification of micro, small and medium enterprises w.e.f. 1st July 2020. Those who could not find time to read entire notification or could not get any point clearly, may go through the following gist with examples for simple but clear understanding. 1. The classification of entities based on investment in plant & machinery or equipment and/or aggregate turnover is proposed as follows: ..
Securities Exchange Board of India (SEBI) vide Notification No. SEBI/HO/CFD/CMD1/CIR/P/2020/106dated 24thJune, 2020 has come out with Further extension of time for submission of financial results for the quarter/halfyear/financial year ending 31st March 2020 due to the continuing impact of theCoVID-19 pandemic • The Circular was issued to: All listed entities All Recognized Stock Exchanges • Previous Extension: <div..
Securities Exchange Board of India (SEBI) vide Press Release no. PR No.35/2020dated 23rd June, 2020 has come out with Relaxations for Listed Companies having stressed assets aimed at helping stressed companies raise capital through timely financial intervention, at the same time protecting the interest of shareholders. Relaxations are divided into two main parts: Relaxations in the pricing methodology for preferential issues Exempt allottees of prefere..
Securities Exchange Board of India (SEBI) vide Circular no. SEBI/HO/DDHS/CIR/P/103/2020 dated 23rd June, 2020 has came out with Operational framework for transactions in defaulted debt securities post maturity date/ redemption date under provisions of SEBI (Issue and Listing of Debt Securities) Regulations, 2008. The Circular was issued to: · All Issuers who have listed their debt securities · All Recognized Stock Exchanges · All Deposi..
Reading of a judgment is an art, no doubt about this. Since we all are in the profession for decades and appearing before the various forums including the assessing authorities. But, the purpose of placing a judgment given by a Court has not been properly met with; this is because we are not well versed with the proper reading of the judgment. Always hurriedly we submit the copy of the judgment which gives no results. While doing a matter before the Hon'ble APVAT Appellate Tribunal, durin..
MERGER STEPS TO BE TAKEN FORMS Authorization in MOA & AOA If not, then firstly alter the MOA & AOA: pass the SR </u..
1. The provisions related to reassessment u/s 147 to 151 of the Income Tax Act, 1961 (hereinafter referred as 'the Act') has been the most litigated piece of legislation and this saga continues so. The powers conferred upon the Assessing Office, under section 147 of the Act, to reopen a concluded assessment is certainly wide in scope and the said provision has been interpreted by the courts to be meant solely for the benefit of the Revenue. However, howsoever vast such powers are, the..
On 20th May 2020, the Government notified the 3 Lakh Crore Emergency Credit Line Guarantee Scheme for Business (including MSMEs) under the Atma Nirbhar Bharat Abhiyan to help them overcome the difficulties faced during COVID 19 crisis. This article explains about the scheme and how it works with a couple of most frequently asked questions. <img alt="MSME" class="img-fluid" src="/editor_upload/2397564_20200531111846_slide_1.jpg" title="MSME" ..
The MSME registration scheme has no statutory basis. Units would normally get registered to avail some benefits, incentives, or support given either by the Central or State Govt. Benefits available under the MSMED Act. ..
Regulation 8 of the SEBI requires the Board of Directors of a listed company to formulate and publish on its official website, a code of practices and procedures for fair disclosure of unpublished price sensitive information in the manner prescribed therein...
If the Company has excess funds they can buy back their shares from existing shareholder which will improve return on equity. This corporate restructuring step boost the confidence of the investors in the Company and prevents hostile takeover of the Company...
This Court has taken Suo Motu cognizance of the situation arising out of the challenge faced by the country on account of Covid-19 Virus and resultant difficulties that may be faced by litigants across the country in filing their petitions/applications/suits/ appeals/all other proceedings within the period of limitation prescribed under the general law of limitation or under Special Laws (both Central and/or State). To read the full judgement, find the enclosed file ..