Latest GK GS

Government allows certain exemptions on IFSC under Company Act

Government allows certain exemptions on IFSC under Companies Act, 2013

The Central Government has provided certain relives to the International Financial Service Centres (IFSC) under the standards of Companies Act, 2013.

The government has specified that IFSC Company will only be a company limited by shares and the companies had to fix IFSC with their names.

The officer or any other person authorized can check the documents and other contracts under Companies Act

The company can make private placement offers and will not b restricted by earlier offers which have been restricted.

The annual return of the company must be included in the board’s report and the company is only required for the internet audit if articles of association states for the audit of accounts.

IFSC firms can make investments through more than two investment companies.

The time given of submission of verification for registered IFSC companies has been extended to 60 days. 


 

» Central Government increases learning license and vehicle fee

» Government proposed National Water Framework bill to curb water

» Central Government's fix term appointment scheme for women

» PM Narendra Modi relief measures to increase GDP in 2017

» Collection of Direct Tax rises to 13.6% after demonetisation

» PM Narendra Modi approves sale of India's first pharma company