Corporate Updates – 31-12-2014


RBI with an intention to grant more flexibility to the Indian party, directs banks to allow credit facilities to Indian party on pledging of shares of its step down subsidiary. It has been decided to further liberalize certain regulations of the Notification relating to Overseas Direct Investments by Indian Party. IN this regard regulation relating to Creation of charge on shares of JV / WOS / step down subsidiary (SDS) in favour of domestic / overseas lender, Creation of charge on the domestic assets in favour of overseas lenders to the JV / WOS / step down subsidiary & Creation of charge on overseas assets in favour of domestic lender have been liberalized.


UPVAT Authorities have extended Last Date of UP VAT Annual Return (Form 52, 52A & 52B) for the year 2013-2014 upto 31-12-2014 from 30-11-2014. Now the authorities have again considered the requests of the stakeholders and have extended the last date of furnishing for Annual Return to 29-01-2015 from 31-12-2014.

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