Corporate Updates – 26-06-2015


RBI on the basis of representations received and in super-session of the existing instructions has decided has decided to allow all non-deposit taking NBFCs with asset size of Rs. 100 crore, to act as Sub Agents under Money Transfer Service Schemes (MTSS) without any prior approval of RBI. Deposit accepting NBFCs are however, not permitted to undertake such activity.


CBEC plans to create awareness of Settlement Scheme of cases through Settlement Commission by issuing letter to taxpayers as the scheme has not yielded the desired results. To encourage voluntary compliance and for settlement of the disputes by making use of the said scheme, it is directed that immediately after issuance of Show Cause Notice, a letter should invariably be written to the noticee informing him about the scheme of the settlement. To avail the facility of settlement of the case as per the Central Excise Act, 1944, as per the Chapter XIVA of the Customs Act, 1962 and / or as per the section 83 of the Finance Act, 1994, assesee may apply to the Settlement Commission as per prescribed procedure and also required to inform the same to the Adjudicating Authority.

Annual Membership Fees of ICSI

The Annual Membership and Certificate of Practice fee for the year 2015-16 becomes due for payment w.e.f. 1st April, 2015 and last date for payment of the same is 30th June, 2015. Members are requested to pay the fee before the last date. The Certificate of Practice fee must be accompanied by an application for renewal of Certificate of Practice in the revised Form-D duly completed in all respects and signed for renewal of Certificate of practice for the year 2015-16. The annual membership fee for ACS : Rs. 1,125/-, for FCS : Rs. 1,500/- and certificate of practice fee is Rs. 1,000/-. Fees can be paid by cash / cheque / DD in favour of “The Institute of Company Secretaries of India” or Fees can be paid online after login.

News from NIRC of ICSI

NIRC of ICSI is organizing one day Seminar on the theme “Ease of Doing Business – Aligning Companies Act on Saturday, the 27th June, 2015 at Hotel Eros Continental (Royal Ball Room), Nehru Place, New Delhi-110019 from 9:30 am onwards. Fees : Rs. 1,750/-, Free for Corporate Members. PCH – 4.

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