Corporate Updates – 16-04-2015


CBDT in a welcome move with an intention to ease of doing business in India has notified the Income Tax (Fifth Amendment) Rules, 2015 which shall come into force on the date of their publication in the Official Gazette to notify the amendments in Rule 114. Now applicant, being a company which has not been registered under the Companies Act, 2013, the application for Allotment of a Permanent Account Number and / or application for allotment Of a tax deduction and collection account number may be made in Form INC-7. Further the Copy of Certificate of Registration issued by the Registrar of Companies or corporate identity number (CIN) allotted by the Registrar of Companies shall be provided as Proof of date of birth.


SEBI has notified the amended SEBI (Public Offer and Listing of Securitised Debt Instruments) (Amendment) Regulations, 2015 which shall come into force on the date of their publication in the Official Gazette. Through these amendments SEBI has formulated the procedure for seeking registration to act as a Trustee and roles, responsibilities & duties of the trustees. An applicant seeking registration to act as a trustee shall have a networth of not less than two crore rupees and have in its employment a minimum of two persons who, between them, have atleast five years experience in activities related to securitisation and atleast one among them shall have a professional qualification in law from any university or institution recognised by the Central Government or any State Government or a foreign university:

News from NIRC of ICSI

1. The Corporate Membership Scheme of NIRC of ICSI is open for the Financial Year 2015-16 and the last date for receipt of Corporate Membership fee with early bird incentive is extended upto 18.4.2015. Anyone becoming a member under the Scheme shall be entitled to attend all the paid programs (Except workshops and residential programs) organized by NIRC free of charge throughout the year. The Cheque / DD towards the Corporate Membership Fee for the requisite amount be drawn in favour of “NIRC of the ICSI”. ONLINE FUND TRANSFER facility also available.

2. Northern India Regional Council of the Institute of Company Secretaries of India is organizing One Day Seminar on the theme "Board Evaluation – Purpose and Process" on 18th April, 2015 at Hotel Eros (Royal Ball Room), Nehru Place, New Delhi-110019 from 10 am onwards. Fees : Rs. 1,750/-, Free for Corporate Members. PCH – 4


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