MCA introduces new compliances for LLP partners
The notification provides that No person, who is or has been a designated partner of limited liability partnership, as the case may be, which, has not filed financial statements or the Statement of Account and Solvency or annual returns, as the case may be, for any continuous period of three financial years; or
has failed to repay the deposits accepted by it or pay interest thereon or to redeem any debentures on the due date or pay interest due thereon or pay any dividend declared and such failure to pay or redeem continues for one
year or more, shall be eligible to become or continue as a designated partner of that limited liability partnership or to become designated partner in other limited liability partnerships for a period of five years from the date on which the said company or limited liability partnership fails to do so.
Revised Import Policy for Moong
The import policy is now revised to Restricted.
CBIC extends validity of revised standard duty of customs leviable on oil products
The prior notification dated 13 October 2021 provided that no standard duty of customs shall be leviable on Crude Soya-bean oil, whether or not degummed, Crude Palm Oil and Crude Sunflower. 17% of standard duty of customs shall be leviable on Soya-bean oil, edible grade, Refined bleached deodorized(RBD) palm oil, RBD palmolein, RBD palm stearin and any palm oil other than crude palm oil and Sunflower oil, edible grade. This validity of this notification has been extended till 13 October, 2021.
The Central Motor Vehicles (Draft Amendment) Rules, 2022.
The Ministry of Road Transport and Highways on 11th January 2022, has published the Central Motor Vehicles (Draft Amendment) Rules, 2022 through which it has mandated, seat belts for all M1 category vehicles, i.e., vehicles capable of carrying eight passengers.
RBI has notified the operational instructions for transactions in credit default swap (CDS).
As per the instruction, Selling of CDS protection by all FPIs shall be subject to a limit specified by the Reserve Bank from time to time. The aggregate limit of the notional amount of CDS sold by FPIs shall be 5% of the outstanding stock of corporate bonds. Clearing Corporation of India Ltd.
UGC issues circular on re-opening of universities and colleges post lockdown due to covid-19 pandemic.
The Ministry of Health and Family Welfare vide its order dated 10.12.2021 has requested to ensure strict enforcement of COVID Appropriate Behaviour at all times and at all places in universities, colleges and other institutes of Higher Education.
The Safety Glass (Quality Control) Amendment Order, 2022.
The Safety Glass (Quality Control) Order, 2020 shall come into force with effect from 1st April 2023 instead of 1st April 2022.
Government of Haryana grants paid holiday to employees on the occasion of assembly election.
Employees of various factories, shops and private establishments located in Haryana, who are registered voters of legislative assembly of uttrakhand are also allowed to take leave (paid) on 14th February 2022.
Revised Procedure for allocation of quota, for year 2022-2023, for import of Calcined Pet Coke for Aluminum Industry and Raw Pet Coke for CPC manufacturing industry
Completed online application along with the required documents mentioned must be submitted on or before 28th February, 2022. Further, applicants are also required to submit undertaking along with the online application regarding utilization of import license issued to them for FY 2021-22 and surrender any unutilized quantity by 28.02.2022.Failure to do so would result in deduction of such quantity from their allocation for the year 2022-23.
Companies (Accounts) Amendment Rules, 2022
For the preceding financial year (2020-2021), Form CSR-2 shall be filed separately on or before 31 st March 2022, after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be.
