Corporate Updates 07 May 2014


Version of Forms INC-22, SH-7, MR-1, PAS-3, INC-7, DIR-12 has been updated on 6th May 2014. Please ensure that you have downloaded the latest version and uploading the new version of the forms only.


IRDA has issued Guidelines on usage of Trade Logo of Promoting Partners of Insurance Companies to protect the interest of the policyholders and Insurance Companies to observe certain risk mitigation norms in this regard. Towards this objective the following guidelines are issued under Section 14 (2) of IRDA Act, 1999. Where an Insurer adopts the trade logo of any of its promoting partners, there shall be a prominent disclosure in all the Insurance Advertisements. The guidelines will come into force with effect from 01st October, 2014.

Corporate Updates 22 Feb 2014


RBI allows MSES to raise funds from foreign investors by allowing FDI into a Small Scale Industrial Undertakings (SSIS)/Micro & Small Enterprises (MSES) and in industrial undertaking manufacturing items reserved for SSIS/MSES vide its Circular dated 20-02-2014. An Indian Company which is a Small Scale Industrial Unit and which is not engaged in any activity or in manufacture of items included in Annex A, may issue Shares or Convertible Debentures to a person resident outside India, to the extent of 24% of its paid-up capital provided that such company may issue shares in excess of 24% of its capital if complies with the conditions provided in the circular.


IRDA, in order to minimize the unclaimed amount of the policy holders has instructed all the Insurance Companies that every Insurer shall endeavour to keep the Policyholder and beneficiary informed about any updates, changes and maturity details by SMS alerts or Email or any other mode as may be specified by the Authority on regular basis and all Insurers to remit claims due to policy holders through electronic mode w.e.f 1st April, 2014. To download & view the said circular CLICK HERE.