RBI has issued CIRCULAR DNBS.CC.PD.NO. 250/03.10.01/2011-12, DATED 2-12-2011 by which it is stated that a new category of Non Banking Financial Company for Micro Finance sector is created.Thus, a separate category of NBFCs viz; Non Banking Financial Company-Micro Finance Institution (NBFC-MFI) is created. Now the 8 types of NBFC are i. Asset Finance Company (AFC)...
Supreme Court : State Gets Priority on Debt Over Banks & Other Lenders
September 18, 2011 by
A three judge bench of hon’ble Supreme Court in Central Bank of India Vs State of Kerala & Ors [(2009) INSC 435; (2009) 4 SCC 94: Decided on 27.02.2009 has settled the controversy about the priority of claim on assets of debtor by the State and other secured creditors like Banks and others. The Supreme...
Class Action Suit Under New Companies Bill 2011 Possible !
August 8, 2011 by
Well shareholders of a company are going to have a collective tool against misdeed of the companies , it seems under new Companies Bill 2011. It is reported vide PIB release that the Minister of State in the Ministry of Corporate Affairs today informed the Rajya Sabha that the Companies Bill 2011 is under finalization...
Companies Bill 2011: Private Companies Under SEBI Jurisdiction & Audit Firm Accountable For Frauds in Companies
July 25, 2011 by
Privately-held and unlisted companies will come under SEBI jurisdiction if they collect or propose to collect money through sale of shares from 50 and more individuals under Companies Bill 2011 , which is being formulated by Ministry of Corporate Affairs. The proposals are being incorporated on account of recent events like- Satyam Fraud and SEBI-Sahara...
Monthly Subscription
Annual
Semi Annual Subscription
Quiz for CA/ICMA/CS Students