Compliance Chambers

The Bluetooth Special Interest Group (SIG) is a network of member organizations that are the caretakers and innovators of Bluetooth® technology. As a Bluetooth SIG member, your organization will join a community that helps you grow your business and shape the future of Bluetooth technology. OBJECTIVE OF BLUETOOTH SIG  The primary purpose of the Bluetooth SIG is to support members to make sure that all Bluetooth products are qualified properly and that they comply with the Bluetooth license agreements. The Bluetooth compliance program consists of two steps, which Bluetooth SIG members have to complete – the qualification and the declaration process. WHEN DO I NEED TO BECOME A BLUETOOTH SIG MEMBER? A. Any company incorporating Bluetooth wireless technology into products, using the technology to offer goods and services or simply re-branding a product with Bluetooth technology wants to use word or symbol of ‘Bluetooth’ on their products must become a member

The number of taxpayers who have filed FORM GSTR-3B is substantially higher than the number of taxpayers who have furnished FORM GSTR-1. Non-furnishing of FORM GSTR-1 is liable to late fee and penalty as per the provisions of the GST law. In order to encourage taxpayers to furnish FORM GSTR-1, a one-time scheme to waive off late fee payable for delayed furnishing of FORM GSTR-1 for the period from July, 2017 to September, 2018 till 31.10.2018 has been launched. In this regard, the due date for furnishing FORM GSTR-1 for the period from July, 2017 to September, 2018 has been extended till 31st October, 2018 for all registered persons having aggregate turnover above Rs 1.5 crores including the registered persons in Kerala, or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry).  For taxpayers having aggregate turnover up to Rs 1.5 crores, the due date for furnishing FORM GSTR-1 for the quarters from July, 2017 to September, 2018 has been ext

Buildings have an impact on the environment in numerous ways as in it consumes resources like land, soil, trees, plastics, metals, water, electricity and also produces waste like site waste, construction waste, chemical waste etc. and because of this mess created by the buildings the cities have become a home of epidemic and causing various problems in the habitat of the general people living in those buildings as well as around them. Hence, the Ministry of New and Renewable Energy is promoting construction of green buildings through GRIHA, a green rating system in the Country. Green buildings are those buildings which optimises the use of resources in such a way that it does not harm the environment. In Indian context it refers to compliance of the National Building Code, use of resources and products which are IS certified and generates optimum waste as per Central Control Pollution Board and Ministry of Environment rules and regulations. WHAT IS GRIHA? GRIHA is India’s

SPECIFIC RELIEF ACT,1963 The tremendous economic development have brought in enormous commercial activities in India including foreign direct investments, public private partnerships, public utilities infrastructure developments, etc.; which have prompted extensive reforms in the related laws to facilitate enforcement of contracts, settlement of disputes in speedy manner. Since the Act was not in tune with the rapid economic growth happening in our country and the expansion of infrastructure activities that are needed for the overall development of the country therefore the amendments have been enacted to match the changing environment. Legal Grounds The Specific Relief Act, 1963 (referred hereinafter as ‘the Act’) has been amended to increase the scope of the specific relief granted to the person aggrieved. The Act has done away with the wider discretion of courts to grant specific performance and to make specific performance of contract a general rule than exception sub

In Companies Act, 2013, two types of disclosures of interest or concerned are prescribed under Section 184. 1). Disclosure of Interest or Concerned by director under Section 184(1); & 2). Disclosures of Interest by director under Section 184(2). Disclosure of Interest or Concerned by director under Section 184(1): Section 184(1) deals with the disclosure, requirements by each Director, to made at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or whenever there is any change in the disclosures already made, in such manner in Form MBP 1. Disclosure of Interest or Concerned by director under Section 184(2) In compliance with Section 184(2) of the Companies Act, 2013, disclosure of interest by every director who is in any way concerned or interested in a contract or arrangement or proposed contract or arrangement entered into or to be entered into with a bo

On 5th July, 2018 the Ministry of Corporate Affairs notified the amended Companies (Appointment and Qualification) Rules, 2014. With effect of this notification it is mandatory for individuals possessing DIN shall file form DIR-3 KYC w.e.f 10th July, 2018. Rule 11 of the Companies (Appointment and Qualification) Rules states the cancellation or surrender or Deactivation of DIN and as per the amendment in rule 11, it is been renumbered as sub rule (1) of rule 11 and sub rule (2) and (3) are added as mentioned below:- The Central Government or Regional Director (Northern Region) shall deactivate the DIN of all those directors who do not intimate particulars in e-form DIR-3 KYC within time period as per Rule 12A. The deactivated DIN shall be activated only after e-form DIR-3-KYC has been filed along with fees. Rule 12A has been inserted after rule 12 stating that every individual who has been allotted DIN on 31st March of financial year shall file the form DIR-3-KYC on

The Reserve Bank of India today released the Financial Stability Report (FSR), 17th in the series. The FSR reflects the overall assessment of the stability of India’s financial system and its resilience to risks emanating from global and domestic factors. The Report also discusses issues relating to developments in and regulation of the financial sector. Global and domestic macro-financial risks ·         Global growth outlook for 2018 remains positive despite some recent softness. ·         Spillover risk from advanced financial markets to emerging markets, however, has increased. ·     Tightening of liquidity conditions in the developed markets alongside expansionary US fiscal policy and a strong US dollar have started to adversely impact emerging market currencies, bonds and capital flows. Firming commodity prices, evolving geopolitical developments and rising protectionist sentiments pose added risks. ·         On the domestic front, economic growth is firming u

This article will be followed by series of articles  which will give you a complete perspective  of the concept of right issue of shares from the companies view point and from the stakeholders as well. Also, in future articles there will be overview of the SEBI regulations and compliance's. MEANING OF RIGHT ISSUE  When a company having share capital wants to increase their subscribed capital by issue of further shares then it can do so by offering shares to the existing shareholders in proportion to the paid up capital. DEFINITION AS PER COMPANIES ACT, 2013 As per Section 62(1)(a), where at any time, a company having a share capital proposes to increase its subscribed capital by the issue of further shares, such shares shall be offered to persons who, at the date of the offer, are holders of equity shares of the company in proportion, as nearly as circumstances admit, to the paid-up share capital on those shares by sending a letter of offer subject to the c

A s per Section 469 of the Companies Act, 2013 (‘Act’) Central Government has the power to make rules for carrying out the provisions of this act. With the power of Section 469 of the Act, the CG has made Companies (Significant Beneficial Owners) Rules, 2018 for carrying out the provisions of Section 90 of the Companies Act, 2013 which is amended in Companies (Amendment) Act, 2017 under section 22. A s per section 90 , of the Act, every individual , who acting alone or together, or through one or more persons or trust, including a trust and persons resident outside India, holds beneficial interests, of not less than twenty-five per cent. or such other percentage as may be prescribed, in shares ( shares includes GDR, compulsory convertible preference shares or compulsory convertible debentures) of a company or the right to exercise, or the actual exercising of significant influence or control as defined in clause (27) of section 2 of the Act. Also as per section 2(6) ,