|RBI has again extended the due date for exchange of the pre-2005 currency notes till 31st December, 2015. Notes can be exchanged for their full value either in one’s bank account or at a bank branch convenient to the holder.|
|SEBI has issued guidelines relating to disclosure and process requirements under the new regulations. The disclosure in directors’ report related to ESOPs has been elaborated. It also provides for specific terms, conditions and disclosure requirements for ESOP trusts. Companies operating ESOP schemes through trusts need to review their current trust deeds and disclosure requirements and comply with the SEBI regulations.|
|Securities and Exchange Board of India (SEBI) has relaxed its norms and regulations for start-up companies in India. The underlying objective behind this is to enable startups to raise funds within the domestic market rather than having to go overseas. This step is likely to be a major boost for Indian start-ups.
For start-ups, following regulations shall be applicable:
|It is mandatory for all establishments contributing above Rs. 1,00,000 to make compulsory payment of EPF through online mode only with immediate effect. Those contributing less than Rs. 1,00,000 may deposit EPF contribution through offline mode till September, 2015. From September 2015, all establishments (without any minimum Limit) shall be required to deposit EPF contribution only through online banking.|
|Note: The contents of this
Newsletter are only a summary and has not dealt with any issue in detail. Any action
taken or proposed to be taken must be in consultation with professionals and not
merely based on the articles / news updates. Lex Valorem disclaims all liability on action taken without professional advice.
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