Do you know the regulations for borrowing and lending between a person resident in India and a person resident outside India?

RBI had notified Foreign Exchange Management (Borrowing and Lending) Regulations, 2018. Significance of said notification is mentioned below:  I) Foreign Exchange Management (Borrowing and Lending) Regulations, 2018: In exercise of the powers conferred by Section 6(3)(a),(d),(e), Section 47(2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of earlier Notifications as amended from time to time, the Reserve Bank makes the following regulations for borrowing and lending between a person resident in India and a person…

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Do you know New (External Commercial Borrowings)ECB Framework

Merging of Tracks:                              (i)  Merging of Tracks I and II as “Foreign Currency denominated ECB” (Any freely convertible Foreign Currency ) and (ii) Merging of Track III and Rupee Denominated Bonds framework as “Rupee Denominated ECB”( Indian Rupee (INR)). Eligible Borrowers: (i) This has been expanded to include all entities eligible to receive FDI. (ii) Additionally, Port Trusts, Units in SEZ, SIDBI, EXIM Bank, registered entities engaged in micro-finance activities, viz., registered not for profit companies, registered societies/trusts/cooperatives and non-government organisations can…

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Budget 2019 Highlights

Dear All, This is the first time in Indian history that Interim Budget has been announced as on 1 February. Modi’s Government current tenure is about to over as this is the last budget before 2019 Lok Sabha elections. The final budget will be presented in July by the newly elected Government after elections. Budget 2019 highlights:    * Individual taxpayers with annual income up to 5 lakh rupees to get full tax rebate. * Individuals with gross income up…

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E- Form INC.20A (Declaration for commencement of business) available for filing w.e.f. 26.01.2019

  Dear Reader, E- Form INC.20A (Declaration for commencement of business) will be available for filing on MCA portal in Company Forms Download page with effect from 26th January 2019. “Thus, as per Section 10A of Companies Act, 2013 (Commencement of Business), company incorporated after the commencement of the Companies  Amendment) Ordinance, 2019 i.e. 02nd November, 2018 and having a share capital shall not commence any business or exercise any borrowing powers unless a declaration is filed by a director within a period of…

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Companies (Acceptance of Deposits) Amendment Rules, 2019

In exercise of the powers conferred by Section 2(31), Section 73 read with Section 469(1) and 469(2) of the Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the Reserve Bank of India amend the Companies (Acceptance of Deposits) Rules, 2014. These rules may be called as the Companies (Acceptance of Deposits) Amendment Rules, 2019.   Amendments in the Rules are mentioned below:

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Companies (Prospectus and Allotment of Securities) Amendment Rules, 2019

In exercise of the powers conferred by Section 26, Section 27(1), Section 28, Section 29, Section 31(2), Section 39(3) & 39(4), Section 40(6) and Section 42 read with Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government makes the rules to amend the Companies (Prospectus and Allotment of Securities) Rules, 2014. These rules may be called the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2019. In the Companies (Prospectus and Allotment of Securities) Rules, 2014,…

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Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 w.e.f. 21/01/2019

SEBI has amended Rule 2 of the aforementioned rule so as to include the term “Promoters group” in the definition of deemed to be connected person. Rule7(1) has been amended to include “members of the promoters group” to make the initial disclosures regarding the securities held in the Listed company within 30 days of publication of this notification in the official Gazette. Rule 7(2) has been amended to include “members of the promoters group” to make continual disclosures to the…

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