SOME OF THE SECTION OF THE BANKRUPTCY CODE NOTIFIED

SOME OF THE SECTION OF THE BANKRUPTCY CODE NOTIFIEd

S.O. 2746(E) 
dated 19th August 2016
issued by MCA

In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 19th August, 2016 as the date on which the provisions of following sections of the said Code shall come into force:—

(1) section 3-

(i) clause (1);

(ii) clause (5);

(iii) clause (22);

(iv) clause (26);

(v) clause (28);

(vi) clause (37);

(2) section 221;

(3) section 222;

(4) section 225;

(5) section 226;

(6) section 230;

(7) section 232;

(8) section 233;

(9) sub-section (1) and clause (zd) of sub-section (2) of section 239;

(10) sub-section (1) and clause (zt) of sub-section (2) of section 240;

(11) section 241; and

(12) section 242.

SOME OF THE SECTION OF THE BANKRUPTCY CODE NOTIFIED

SOME OF THE SECTION OF THE BANKRUPTCY CODE NOTIFIEd

S.O. 2746(E) 
dated 19th August 2016
issued by MCA

In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 19th August, 2016 as the date on which the provisions of following sections of the said Code shall come into force:—

(1) section 3-

(i) clause (1);

(ii) clause (5);

(iii) clause (22);

(iv) clause (26);

(v) clause (28);

(vi) clause (37);

(2) section 221;

(3) section 222;

(4) section 225;

(5) section 226;

(6) section 230;

(7) section 232;

(8) section 233;

(9) sub-section (1) and clause (zd) of sub-section (2) of section 239;

(10) sub-section (1) and clause (zt) of sub-section (2) of section 240;

(11) section 241; and

(12) section 242.

DIGITAL SIGNATURE SERVICES

P. Kesharwani & Co. (Company Secretaries) is a cost-efficient provider of digital Signature Certificate (DSC) and secure digital signature in India. We have made the entire process of obtaining a DSC hassle and difficult free. Whether you are a professional or a non-professional, we would provide you with an extremely simple process of obtaining a DSC.

We are authorized RAA of e-Mudhra and N Code for issuing the following types of Digital Signature Certificates (DSC):

1.      Class II  : ROC, e-Filing of Income tax & Sales Tax returns, PF, ESI, 

 We offer you the lowest price and best services in Digital Signature Certificate: The following rates of charts

Class 2 Signature (INCOME TAX, ROC, VAT, PF, ESI purpose) 

Product		Two Year
	Token	(Signing)
Class 2	e PASS 2003 (Auto)	Rs. 800/-
Class 2	Without E Token	Rs. 450/-

Above prices is inclusive of all taxes and other charges)

We assure the Best Service to our Clients and DSC issuance within 2-4 working Hours from the time of receipt of Scan Documents through mail and physical documents should be delivered within 2 days at our premises as below mentioned.

P. Kesharwani & Co.

(Company Secretaries) 

House No. 9, Sudarshan Vihar,

Mahadeo Ghat, Raipura,

Raipur - 492013 (Chhattisgarh)

Mob. 9971200778

          9926158992

or

Aditya Nath Soni & Co.

Beside Oriental Bank,

Mahadeo Ghat Road,

Sundar Nagar Raipur

Be assured of the Most Competitive Rates for issuance of DSC which are further negotiable in case of bulk orders or upfront payments 

We assure our clients the best after Sales services.

Document Required

1. Pan Card

2. Address Proof ( Adhar Card, Voter Card, Bank Statement, etc of Authorized Person) 

3. Latest Photo to be signed Cross over Form.

all the above said docs should be self attested (signature should be same as in the PAN Card)

Bank A/C Details For Local Cash/Cheque/Neft Deposit:-

Prashant Kumar Kesharwani

State Bank of India

Branch Sundar Nagar Raipur

Saving Account	031977299383
CIF No.	85781359693
IFS Code	SBIN0012326
MICR Code	492002029

YNK MANAGEMENT CONSULTANTS: Novation of OTC Derivative Contracts

YNK MANAGEMENT CONSULTANTS: Novation of OTC Derivative Contracts: http://rbidocs.rbi.org.in/rdocs/Notification/PDFs/CNF0912113F.pdf

Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016

G.S.R. 791(E).— In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Share Capital and Debentures) Rules, 2014, namely:—

1. (1) These rules may be called the Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016.

(2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Share Capital and Debentures) Rules, 2014, in rule 18, after Sub-rule (10), the following sub-rule shall be inserted, namely:-

“(11) Nothing contained in this rule shall apply to rupee denominated bonds issued exclusively to overseas investors in terms of A.P. (DIR Series) Circular No. 17 dated September 29, 2015 of the Reserve Bank of India.”.



Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016

Novation of OTC Derivative Contracts

http://rbidocs.rbi.org.in/rdocs/Notification/PDFs/CNF0912113F.pdf

Roadmap for IFRS conversion

Roadmap for IFRS conversion

The roadmap requires a phased approach for IFRS adoption. The three phases are outlined as follows:

Phase	Date	Coverage
Phase 1	Opening balance sheet as of 1 April 2011*	1. Companies that are part of NSE 50 (Nifty 50) 2. Companies that are part of BSE Sensex (BSE 50) 3. Companies whose shares or other securities are listed on a stock exchange outside India 4. Companies, listed or not, having net worth exceeding INR1,000 crore
Phase 2	Opening balance sheet as of 1 April 2013*	Companies not listed in phase 1 and having net worth exceeding INR 500 crore
Phase 3	Opening balance sheet as of 1 April 2014*	Listed companies not covered in the earlier phases
*If the financial year of a company commences at a date other than 1 April, then it shall prepare its opening balance sheet at the commencement of the immediately following fiscal year.

IFRS roadmap overview

The MCA roadmap has provided specific dates for adoption of IFRS in India on the basis of a company’s net worth as indicated by the exchange on which they are traded. The IFRS conversion roadmap for Banks and Insurance companies will follow separately.

• Phase 1 companies are required to start reporting IFRS results from the first quarter of year beginning 1 April, 2011. Also, depending on how a company elects to present comparative information in the first year, the actual date of transition could be as early as 1 April 2010.
• The core group and its sub-group 1, constituted by the MCA for IFRS convergence, shall determine IFRS conversion roadmap for banking and insurance companies separately by 28 February 2010.
• Non-listed companies with net worth of less than INR 500 crore and other small and medium-sized companies (SMCs) have been given an option to continue to either follow non converged standards (hereinafter referred to as “Indian GAAP”) or to adopt IFRS.
• The draft of the Companies (Amendments) Bill, proposing for changes to the Companies Act, 1956, will be prepared by February, 2010.
• The Institute of Chartered Accountants of India (ICAI) has submitted to the MCA revised Schedule VI to the Companies Act, 1956. The NACAS shall review the draft and submit a revised Schedule VI to the MCA by 31 January 2010. Amendments to Schedule XIV will also be carried out in a time bound manner.
• Convergence of all the accounting standards with IFRS will be completed by the ICAI by 31 March 2010 and the NACAS will submit its final recommendations to MCA by 30 April 2010.