corporate law

The Reserve Bank of India (RBI) has sought exemption for bank mergers and acquisition (M&As) from the Competition Act of 2002. In a note sent to the Ministry of Finance, the RBI has stated that the exemption should be granted following the urgency and unique nature of bank mergers, es..

Shedding earlier reservations over some aspects of the controversial new FDI guidelines, the Finance Ministry now says it does not have any objection to new rules that changed the criteria for calculation of foreign ownership in a company and its downstream investment. However, whether th..

The Insurance Regulatory and Development Authority (Irda) is in the process of setting up database of all vehicles, which are insured. In this context, Irda has released a draft on design and development of Vehicle Insurance Status SMS System (VISSS) seeking comments and suggestions from the insurers. Accor..

The Reserve Bank of India (RBI) has requested all Registrars of Co-operative Societies (RCSs) to restrict individual shareholding in an urban co-operative bank (UCB) to 5 per cent of the total paid-up share capital. In its meeting with the registrars of various states on improving corporate governance in ur..

The new transfer of agency norms announced by the insurance regulator this month could turn out to be a ticklish issue for the country’s largest bank, State Bank of India. SBI is in the process of floating a non-life insurance company/..

The Reserve Bank of India (RBI) has directed that the fraud risk management and fraud investigation function of a bank must be owned by the bank's chief executive officer, its audit committee and the special committee of the bank's board for high-value frauds. Outlining the role of chairmen and chief execut..

Nearly 100 stockbroker members of the Bombay Stock Exchange (BSE) would move the Supreme Court (SC) to save a combined tax liability of around Rs 125 crore, which they have claimed as depreciation on their stock exchange membership card. Some of the top ..

The government on Tuesday said it would come up with a road map in November to help companies to adopt International Financial Reporting Standards (IFRS), which will become operational from 2011. The government will take the concerned regulatory agencies..

The New Companies Bill 2009, which seeks to replace the existing Companies Act of 1956, has already factored in the lessons from the Satyam incident and would look at strengthening the role of Serious Fraud Investigation Office (SFIO) in order to arm it with legal and statutory powers to probe corporate mis..

Wiser after the Rs7,136 crore Satyam Computer Services Ltd fraud, a committee of capital market regulator Securities and Exchange Board of India, or Sebi, on Monday recommended a slew of measures to make financial reporting by listed firms more transparent and less confusing for investors. The Sebi panel on..

Entrepreneurs can now pay stamp duty sitting anywhere in India electronically by logging on to the corporate affairs ministry’s website. This removes the last hurdle for electronic incorporation of new companies without visiting a government office..

The Central Bureau of Investigation will file a second chargesheet against disgraced former Satyam Computers Chairman B Ramalinga Raju by the end of this month. ‘The CBI will file a second chargesheet against Raju as it claimed to have unearthed more financial frauds by him in the company. The whole process of filing the chargesheet will be completed by the end of thi..

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 Recession kicked almost one year ago and now the economy is said to be settling down. But several revenue-rich departments which contribute a major chunk to the state chest, show no signs of recovery.  One such is the stamps and registration department, the second highest revenue earner t..

The government has decided to include the Serious Fraud Investigation Office (SFIO) in the new Companies Bill 2009 to arm it with legal and statutory powers to probe corporate misdoings, Corporate Affairs Minister Salman Khurshid said. "In terms of personnel, expertise, infrastructure and back-up, we h..