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Delhi HC uphold constitutional validity of 2nd provision to Section 5(1) of PMLA

Fema/RBI - 03-Apr-2019

J Sekar Vs. Union Of India & Ors (Delhi High Court) Delhi High Court has held as under- (i) The second proviso to Section 5(1) PMLA is not violative of Article 14 of the Constitution of India; the challenge in that regard in these petitions is hereby negatived. (ii) The expression ‘reasons to believe‘ has to meet the safeguards inbuilt in the second proviso to Section 5(1) PMLA read with Section 5(1) PMLA. (iii) The expression ‘reasons to believe‘ in...

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Reflections On Current Policy Issues Facing Indian Economy

Fema/RBI - 03-Apr-2019

India in recent years has emerged as one of the most vibrant economies in the world. Not only has India survived many global shocks successfully in recent years, it also tops the list of fastest growing emerging market economies (EMEs) in the world. According to the IMF’s database, India’s contribution to world growth has risen from 7.6 per cent during 2000-2008 to 14.5 per cent in 2018. Multilateral agencies are further optimistic on this as far as the medium-term outlook is...

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FDI Policy on E-Commerce effective from February-2019

Fema/RBI - 03-Apr-2019

Press Information Bureau Government of India Ministry of Commerce & Industry Dated: 04-February-2019 FDI Policy on E-Commerce In order to ensure due compliance of the FDI policy on e-Commerce,Press Note 2 (2018) has been issued. It puts in place certain conditions. These conditions include: i. An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group...

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Companies can apply GST, ESIC & EPFO Registration while incorporating

Company Law - 03-Apr-2019

Companies (Incorporation) Third Amendment Rules, 2019– The application (SPICe) for incorporation of a company shall be accompanied by a linked e-form AGILE (Application for registration of the Goods and Services Tax Identification Number (GSTIN), Employees’ State Insurance Corporation (ESIC) registration pLus Employees’ Provident Fund Organisation (EPFO) registration) with effect from 31st March 2019, as notified vide the Companies (Incorporation) Third...

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Companies (indian Accounting Standards) second Amendment Rules,2019

Company Law - 03-Apr-2019

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2019 G.S.R (E).— In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the National Financial Reporting Authority, hereby makes the following rules further to amend the Companies (Indian Accounting Standards) Rules, 2015, namely:— 1. Short title and...

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