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Showing posts with label Newsletters. Show all posts
Showing posts with label Newsletters. Show all posts

Friday, May 11, 2012

Download OnlyThisMuch book Update Amendments 2012 for Company Secretary June exams onwards covering Corporate laws, Securities laws, Due Diligence, Voluntary Corporate Governance Codes, Schedule VI XII, Takeover Code 2011, Legal Metrology Act, Foreign Contribution, FDI Policy & ICDR with ICSI Supplements to enjoy passing

OnlyThisMuch book series has released most crucial Updates/ Amendments 2012 for June exam onwards under all laws applicable for Company Secretary exams [CS Executive Programme & Professional Program].  The same can be read from: http://www.scribd.com/doc/93236216/Only-This-Much-Amendments-Laws-2012-Updates-for-Company-Secretary-Exams-on-Corporate-Economic-Securities-Secretarial-Practice-Drafting-Alliances#fullscreen

(Better when downloaded).  It covers the following laws:

Company Law/ Company Secretarial Practice/ Corporate Restructuring

1.       Amendments in MCA-21 & Filing aspects

2.       Amendments in Clauses of Memorandum Of Association

3.       Amendments in Unlisted Public Companies PREFERENTIAL ALLOTMENT Rules u/s. 81(1A)

4.       Amendments in General Meetings & Board Meetings related

5.       Amendments in Managerial Remuneration under Schedule XIII

6.       Amendments in Related Party Transactions under Sections 295, 297 & 314 of Companies Act, 1956

7.       Amendments in Merger of Government Companies u/s. 396

8.       DEFUNCT COMPANIES & FAST TRACK EXIT SCHEME

9.       Form & Contents of Annual Accounts under Revised Schedule VI

 

CRUCIAL DOWNLOADS FOR LAST MINUTE READING BEFORE CS EXAMS:

For Direct & Indirect Tax Laws Amendments, download & print the ICSI Supplement from this link [this is applicable for CS Executive & Professional Program exams

Click here for Financial Management Theory

Glance through MCA Guidelines on Governance

Securities Law/ Due Diligence

1.       Amendments in SEBI ICDR Regulations, 2009

2.       Amendments in Equity Listing Agreement

3.       Public Issue by SME’s & SME Equity Listing Agreement (most predicted question for this exam)

4.       Debt market issues & Securitised Debt Listing Agreement

5.       Revised Insider Trading Disclosures

6.       New Takeover Code, 2011

Corporate Governance/ Securities Law

1.       New Voluntary Governance Codes in India

(including MCA’s Corporate Governance & CSR Code, Secretarial Audit, ICSI’s recommendations)

2.       New Governance Codes abroad

(including UK Corporate Governance & Stewardship Codes)

3.       Other Amendments – Internal Control, Credo & Green Tribunal

 

Other Laws for CS Exams:

1.       Amendments in FEMA & CONSOLIDATED Foreign Direct Investment (FDI) POLICY, 2012  [for Drafting & Alliances in Professional Program, Economic Laws in Executive Program]

2.       FOREIGN CONTRIBUTION (REGULATION) ACT, 2010 & RULES 2011 [FCRA] replacing Old Act [for Economic Laws in Executive Program & has Compounding provisions as relevant for Drafting]

3.       Competition Act, 2002 & Mergers, Amalgamations, Acquisitions & Takeovers (MAAT) [for Drafting & Corporate Restructuring in Professional Program & Economics Laws in Executive Program]

4.       Legal Metrology Act, 2009 replacing Standard Weights & Measures Act [for Eocnomic Laws in Executive Program]

 www.learnlabz.com

 onlythismuch@lawlabz.com

Only This Much Amendments Laws 2012 Updates for Company Secretary Exams on Corporate, Economic, Securities,...

Enjoy passingSmile

Tuesday, January 24, 2012

KnowLaw on FEMA Compliances, Event Based, Periodical returns to be filed based on the nature of transaction in India

Know Law

Labz Notification 10 of 2011

A written-cum-video initiative to know your corporate legal position as on date

Legal Queries???

What are restrictions in foreign inflow? What are the FDI compliances with RBI? What are the ECB compliances with RBI? What are the FCCB/GDR/ADR compliances with RBI? Is there any annual return with RBI like that under Company laws? What are the consequences of non-filing of returns with RBI? When you are falling under Automatic route of FEMA, is there any reporting requirement with RBI? What happens if the inflow is not under automatic route? Is SEZ mandated by RBI for such reporting? What is the reporting procedure? What are the legal requirements in India when foreign exchange is involved in a company’s capital account transaction?

Solution…

FEMA Compliances, Event Based, Periodical returns to be filed based on the nature of transaction

The compliances under Foreign Exchange Management Act (FEMA) arise, when there is an inflow or outflow of foreign exchange. When dealing with bank accounts situated outside India or in India, you might not realize the indirect effect on foreign exchange which mandate FEMA compliances. In India, most of the current account transaction mandates reporting arrangements, whereas certain capital account transaction require approvals from the Central Bank namely Reserve Bank of India.

FEMA being an ever changing law in India, the legalization of a transaction and its dealings is a voluminous task. The approvals, intimations & reporting have to be done keeping in mind the legal updated applied with practical skills. At Lawlabz we can facilitate the same for your company’s transactions. Read More...

Requirement under Indian laws on FEMA Compliances, Event Based, Periodical returns to be filed based on the nature of transaction in India:

Whenever there is an issue, allotment, transfer or conversion of shares, an intimation or approval may be required under FEMA as an event based compliance requirement. This can happen in situations where there is an increase in the shareholding of the company or on induction of new shareholders or an investment is made into the company abroad or when there is transfer of shares in which one party is an Indian or when loans (External Commercial Borrowings) are converted into equity capital. Further, whenever arises an event under FEMA, it comes with a obligation to submit periodical returns as well on a monthly basis for loans related dealing, quarterly basis for FCCB/ADR/GDR related overseas issues and on a annual basis for equity related dealings. Further, there are ceiling limits of 7 days/15 days/30 days/60 days/180 days for various compliances mentioned above. Even further, there is a requirement of certification of procedural compliance of the transaction by a Company Secretary and a certification on valuation of shares through Discounted Cash Flow method by a Chartered Accountant. Any delayed filing beyond the prescribed period also amounts to violation of law which can invite actions from RBI. Hence, in such cases, there is a option of voluntary compounding of offences by disclosing the offence to RBI.

Myth buster on FEMA Compliances, Event Based, Periodical returns to be filed based on the nature of transaction in India:

FEMA compliances are not a mere one-time requirement of reporting whenever there is a requirement of funding or investment or raising money in India or abroad but it goes beyond as a regular procedural requirement once, one of such transaction with a foreign country or foreigner is made. The entire business transaction shall be consulted with an expert as to its impact on automatic route or approval route and how it shall be proceeded with. It may happen, the transaction is under automatic route but as it is taken up by a large enterprise, it may fall under approval route that shall be duly considered. Whenever a foreign exchange transaction happens, it should be considered on a wholesome basis as to its requirements on foreign exchange laws, the accounting treatment of the transactions and the legality of it under the requirement of various corporate laws, industrial laws and sector-specific laws.

Caution point on FEMA Compliances, Event Based, Periodical returns to be filed based on the nature of transaction in India!!!

As the requirements of FEMA are constantly changing as updated by RBI, one shall take caution to ensure whether the reporting requirement on a particular date is in the latest prescribed legal requirement in India. The transacting Indian company shall be in regular touch with their Authorised Dealer (the bank in India) who is responsible for conversion of foreign exchange till the time the bank gets a final confirmation from RBI as to the satisfaction of the legal compliance requirement. The Joint ventures or foreign collaborations shall give due consideration of this legal requirement as this involves a hefty penalty of 3 times of the amount involved or to take the route of compounding to safeguard from violations.

WATCH LAWLABZ VIDEO on FEMA Compliances, Event Based, Periodical returns to be filed based on the nature of transaction in India!!! (Click Here):

At Lawlabz, we offer 360O Personalized VIRTUAL Corporate Solutions by offering COMPLETE online legal support for your organization since its set-up as your entrepreneurial venture, during its management as a corporate entity or a manufacturing industry and closure of unwanted company’s which are not having any significant business of its own.

Legally Yours,

Happy Consulting with www.lawlabz.com

For Private Circulation Only. The copyright of this notification is retained by Lawlabz. Notwithstanding anything contained herein, this notification does not amount to opinion or consultation of any nature. One Pager



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