Corporate Updates – 20-08-2015


DVAT authorities have notified Andhra Bank and State Bank of Travancore located in the National Capital Territory of Delhi as Appropriate Government Treasury for collection of tax, interest, penalty or any other amount due under the Act or Central Sales Tax Act, 1956 from the dealers registered or liable to be registered under the Act, casual traders, contractees (TAN holders) and any other person in e-payment mode only, in addition to the already notified banks. The Authorisation of Andhra Bank and State Bank of Travancore is in addition to the RBI’s regulations, shall further be subject to the conditions mentioned in notifications issued by the DVAT.


The Reserve Bank of India (RBI) has cancelled the certificate of registration of 7 (seven) Non Banking Financial Companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following the cancellation of registration certificate, these companies cannot transact the business of a Non Banking Financial Institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934. Out of the 7 cancellations 3 are of the having their Registered Office at Delhi and rest 4 are registered at Kolkatta.

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