Corporate Updates – 28-04-2017

One Day Program On Goods & Services Tax (GST)

NIRC of ICSI is organising One Day Program on "Goods & Services Tax" on Saturday, the 29th April, 2017 from 9:00 AM onwards at Hotel Shangri-La, 19 Ashoka Road, Connaught Place, (Near Patel Chowk Metro Station) New Delhi 110001. The Program shall be inaugurated by Shri Arjun Ram Meghwal Ji, Hon’ble Union Minister of State, Ministry of Finance and Corporate Affairs. Fee: Rs. 2,250/-per delegate inclusive of service tax; FREE for Corporate Members of NIRC; Program Credit Hours: 06.


MCA has issued a Circular clarifying the issues relating to the Transfer of shares to IEPF Authority. The due date for transfer of shares by Companies to IEPF is May 31, 2017 pursuant to second proviso to Rule 6 of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017. The IEPF Authority has now decided to open a special demat account with NSDL and all companies shall now transfer such shares, whether held in dematerialised form or physical form to the demat account of IEPF authority. NSDL will prescribe the format and procedure to facilitate such transfer by April 30th 2017 and May 15th 2017 respectively. NSDL will also levy charges as provided in this Circular.


RBI proposes fresh Regulations under Foreign Exchange Management Act, 1999 for Cross Border Mergers on April 26, 2017 and has Invited comments from stakeholders. The draft guidelines proposed to be issued on cross border merger transactions pursuant to the Rules notified by Ministry of Corporate Affairs through Companies (Compromises, Arrangements and Amalgamation) Amendment Rules, 2017 on April 13, 2017. The Reserve Bank of India has proposed these Regulations under the Foreign Exchange Management Act, 1999 (FEMA) in order to address the issues that may arise when an Indian company and a foreign company enter into Scheme of merger, demerger, amalgamation, or rearrangement. These Regulations stipulate conditions that should be adhered to by the companies involved in the Scheme. The Regulations shall be named Foreign Exchange Management (Cross Border Merger) Regulations. Members of public, including the stakeholders and experts in the area, are requested to offer their views and comments on the proposed Regulations. The comments may be sent latest by May 9, 2017 to email with the subject “Cross Border Mergers – Comments/Suggestions”.

News from NIRC of ICSI

Registration open for “15 days Crash Course exclusively for Female Members” on different topics for three weeks i.e. from Monday, the 1st May, 2017 to Wednesday, the 17th May, 2017 from 4.00 PM to 6.30 PM at NIRC Auditorium, ICSI-NIRC Building, Plot No. 4, Prasad Nagar Institutional Area, New Delhi -110005. Fee : Fees (inclusive of service tax): Rs.2,250/- for all sessions (including Corporate Members); Program Credit Hours: 02 per day.

Speak Your Mind