The Ministry of Corporate Affairs (MCA) has announced four important notifications effective from September 10, 2024. These updates pertain to notifying CCI for mergers and acquisitions under the Competition Act. Here’s a brief overview of these notifications entail: Provisions Notified Under the Competition (Amendment) Act, 2023: The notifications put into effect specific provisions from the […]

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Introduction: Asset management companies (AMCs) play a crucial role in the financial markets, handling vast amounts of capital and making investment decisions that can significantly impact the market. With such responsibilities, AMCs will now have to put in place institutional mechanisms for identification and deterrence of potential market abuse, including front-running and fraudulent transactions in […]

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Telecom Regulatory Authority of India (TRAI) has issued important guidelines under Telecom Commercial Communications Customer Preference Regulations, 2018 (TCCCPR 2018) with respect to the sending of commercial communication using telecom resources through Voice Calls or SMS to prevent Unsolicited Commercial Communications (UCC). The senders of commercial communications such as banks, insurance companies, stockbrokers, SMEs or […]

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Cinematograph (Certification) Rules, 2024, notified by the Ministry of Information and Broadcasting, Government of India in supersession of the Cinematograph (Certification) Rules, 1983. The long-standing Cinematograph (Certification) Rules of 1983 have been replaced by a comprehensive overhaul of the certification procedure, marking a significant step towards modernizing and streamlining the certification of films for public […]

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Section 35D of the Income Tax Act, 1961, provides for the amortization of certain preliminary expenses incurred by a business or profession. These expenses are incurred before the commencement of the business or profession and include expenses such as legal fees, registration fees, and incorporation fees for claiming deduction assessee has to submit the form 3AF. […]

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Securities and Exchange Board of India (“SEBI”) has issued Master Circular for Portfolio Managers for effective regulation of Portfolio Managers vide Circular No. SEBI/HO/IMD/IMD-POD-1/P/CIR/2024/80 dated June 07, 2024 which supersedes the Master Circular for Portfolio Managers dated March 20, 2023. Applicability:- It is applicable to all Portfolio Managers and Association of Portfolio Managers in India […]

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International Financial Services Centres Authority has issued a Circular F. No. IFSCA-DSI-4-2024-Capital Market- dated 5th Sept 2024 under Regulation 6 of International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021 which states that Capital Market Intermediaries (CMIs) who fails to maintain Net Worth at any time shall not undertake any existing or new business […]

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Social Security law in the UAE is designed to provide financial protection and welfare benefits to employees and their families. The system primarily focuses on ensuring social stability through pension schemes, unemployment benefits, and health insurance. Social security contributions apply only for UAE and GCC nationals working within the UAE. If UAE/ GCC nationals are […]

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The Governor of West Bengal has issued guidelines to ensure the timely and fair Payment of Bonus to employees by 30th September 2024  i.e., before Durga Puja 2024, as per the Payment of Bonus Act, 1965 and its 2015 Amendment. These guidelines aim to maintain industrial peace and harmony. The key highlights on actionable are […]

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