Corporate Updates – 19-10-2016


NCLT has designated its Members in different branches of the Tribunal to hear appeal against order of Registrar or such other officer officiating as the Registrar of the Bench. Further, it has been clarified that appeal against order of Registrar with regard to Principal Bench and New Delhi Bench(s) shall be made before Hon’ble President, National Company Law Tribunal. The list of designated members are available at NCLTs Website.


CBDT has notified Income-tax (28th Amendment), Rules, 2016 which shall be applicable from 1st June, 2016, that is, from retrospective effect which inserts a new Section “PART VII-BA” for Special Provisions Relating to Tax on Distributed income of Domestic Company for Buy-Back of Shares which provides for ‘Treatment of amount received by the company in respect of issue of share’. Issue of shares includes issue by the way of subscription, or as sweat equity shares or in pursuance to amalgamation and demerger or conversion of preference shares or bond or debenture.

News from NIRC of ICSI

1. NIRC of ICSI has decided to start fortnightly "PCS HELPLINE" to provide guidance / counseling in respect of problems and difficulties being faced by our members. In this series, NIRC is organizing "PCS HELPLINE ON ANNUAL FILING” on the 19th October, 2016, to resolve the queries over telephone regarding Technical / Procedural / Interpretation issues relating to the topic “ANNUAL FILING” by CS Swarn K. Jain, will be available to answer the queries telephonically, on 19th October, 2016 from 4.00 PM to 5.30 PM at 011-25722662.

2. Registration open for Regional PCS Conference of NIRC of ICSI on the theme "PCS – EMPOWER, EMERGE & EXCEL” to be held on November 05-06, 2016 from 10.00 AM Onwards (Saturday& Sunday) at Hotel Amar, Taj Ganj, Agra (UP). Fees : Rs. 2,250/- per delegate; Rs. 1,500/- for Corporate Members of NIRC and Free for Corporate Members of NIRC (Delhi & Chapters); Program Credit Hour: 8. Limited accommodation available; For Online Registration, Click here.

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