RBI mandates NBFC to make additional disclosure in their financial statements.
The additional disclosure requirements are in accordance with the Scale Based Regulation and the disclosure requirements applicable to lower layers of NBFCs will be applicable to NBFCs in higher layers. These guidelines shall be effective for annual financial statements for year ending March 31, 2023, and onwards.
RBI notifies regulatory restriction on loans and advances in respect of NBFCs.
The proposals for credit facilities of an amount less than Rupees five crore to these borrowers may be sanctioned by the appropriate authority in the NBFC under powers vested in such authority, but the matter should be reported to the Board.
MCA notifies Nidhi (Amendment) Rules, 2022.
A Nidhi company to be incorporated under rule 4, shall be a public company and shall have a minimum paid up equity share capital of ten lakh rupees.
MCA FAQ on registering and using the MCA system
The Ministry of Corporate Affairs has issued FAQs on registering, using and rectifying data in the MCA system, the system for Monitoring and Management of corporate legal compliances.
National Bank for Financing Infrastructure and Development exempted from Income Tax
CBDT has exempted the National Bank for Financing Infrastructure and Development for a period of ten consecutive assessment years beginning from
the assessment year 2022-2023 from income tax under clause (48D) of section 10 of the Income-tax Act.
Ministry of Power notifies revised scheme for flexibility in generation and scheduling of thermal/hydro power stations.
The new scheme also specifies guidelines for transmission connectivity and access, scheduling and commercial mechanism, deviation settlement mechanism, renewable purchase obligation, and requirement of additional agreements to PPA/PSA.
License from AERB is a statutory pre-requisite for grant of permanent registration for clinics
The applicable clinical establishments are those using ionising radiation sources such as inter alia, facilities with diagnostic X-ray equipment (e.g. general purpose X-ray, CT, Cath-lab), radiotherapy equipment for cancer treatment like linear accelerators and tele-cobalt units and nuclear medicine facilities using radio-pharmaceuticals for diagnosis/therapy purposes.
Government of Karnataka notifies the manner for submitting e-application for registration under Karnataka Tax on Professions, Trades, Callings and Employments Act.
Earlier, the employers were supposed to submit the Permanent Account Number only. Now, the Tax Deduction Account Number or Tax Collection Account Number of the Employer may also be submitted in place of the Permanent Account Number.
EOI sought for setting up a manufacturing zone on pilot basis for Power & Renewable Energy Sector.
The EOI Process Authority, acting on behalf of the Government of India is intending to select the Successful Proposer for setting up of one Brownfield Manufacturing Zone for power and renewable energy equipment.
NPPA fixes retail price of 15 formulations including Metformin and Folic Acid.
The formulation includes Metformin (extendedrelease) + Teneligliptin Tablet, Dapagliflozin + Metformin Hydrochloride Extended release Tablet, Folic Acid, Pyridoxine Hydrochloride, Methylcobalamin & Vitamin D3 Tablet etc.
