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Consequence of failure to maintain Net Worth by Capital Market Intermediaries (CMIs)

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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 LAWS IN UNITED ARAB EMIRATES

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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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Payment of Bonus in West Bengal before Durga Pooja

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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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Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2024

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The amendment provides that where the transferor foreign company incorporated outside India being a holding company and the transferee Indian company being a wholly owned subsidiary company incorporated in India, enter into merger or amalgamation, both the companies shall obtain the prior approval of the Reserve Bank of India and application shall be made by […]

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Important Notice: Submission of Biennial Return ER-II for Private Establishments in Gurugram Under the Employment Exchanges Act, 1959 (Haryana)

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As per notification dated 02.09.2024 (Letter No: EMI/ER-II/2024/979), under the Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959 (Haryana), all private establishments are now required to submit the Biennial Return in Form ER-II to the local Employment Exchange. The directive mandates that all District Units and Private Establishments of Haryana must complete and submit their ER-II return using the statistical data from the ER-I return […]

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Bird’s eye view of recent notified laws

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Change is the law of nature. Growth and expansion of business models and the overall economy necessitates the need for new legislations and/or modify the outdated ones. Here is the compilation of various laws notified by Government both at Central and various State levels during recent times along with their scope and applicability:   Name […]

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Guidelines for Advertisements Making Environmental/ Green Claims

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The Advertising Standards Council of India (ASCI) issued Guidelines for Advertisements Making Environmental/ Green Claims to ensure that Environmental/Green Claims by businesses are reliable, verifiable, and transparent.  These guidelines respond to the growing consumer demand for environmentally friendly products and services. These further aim to enable consumers to make informed choices and prevent misleading greenwashing […]

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Fraud Risk Management in Urban Cooperative Banks (UCBs) / State Cooperative Banks (StCBs) / Central Cooperative Banks (CCBs)

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On July 15, 2024, Reserve Bank Of India issued Master Directions on Fraud Risk Management in Urban Cooperative Banks (UCBs) / State Cooperative Banks (StCBs) / Central Cooperative Banks (CCBs) superseding the earlier directions on the subject, namely, ‘Master Circular– ‘Classification and Reporting’ (DCBR.CO.BPD.MC.No.1/ 12.05.001/2015-16) dated July 1, 2015. These Directions are issued with a […]

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Key Highlights – Master Circular on IRDAI (Insurance Products) Regulations 2024- Health Insurance

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On 29th May 2024, Insurance Regulatory and Development Authority of India (IRDAI) notified the Master Circular on IRDAI (Insurance Products) Regulations 2024- Health Insurance. This master circular was effective with immediate effect i.e., 29th May 2024. This circular is in addition to IRDAI (Insurance Products) Regulations 2024 and shall be read with IRDAI (Protection of […]

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