Second Amendment Rules News Today

The Indian corporate affairs ministry reported that over 1.96 lakh companies and Limited Liability Partnerships were incorporated in the country this year, up from 1.88 lakh in the previous year. The ministry emphasized the importance of enhancing compliance and ease of doing business in corporate governance.

"It is a matter of common knowledge that in the case of private companies, it is not rare that the shares of the company are registered in the name of persons who are not traceable, do not have valid PAN or similar identification numbers, or remain unidentified," said Payal Agarwal of Vinod Kothari Consultants. "Historically, dematerialisation of shares is looked upon by the government as a means to curb black money."

The government has asked private companies to dematerialise their securities by September 2024, a move that will help enhance transparency and will have a broad impact. The requirement will be applicable to private companies, excluding small companies and government companies. There are about 1.4

Indias Ministry of Corporate Affairs (MCA) has mandated that large unlisted private companies, including unicorns, issue securities only in dematerialized form, giving them until the end of September 2024 to comply with the rule. The move is expected to enhance transparency in the financial market and encourage companies to disclose their share structures more openly.

The Revenue Department has tightened the rules under the anti-money laundering law to make reporting obligations more stringent for entities like banks, stock brokers and insurers, showed an official order.

The three bauxite blocks -- Ballada, Kutrumali and Sijimali -- and two limestone mines -- Garramura and Uskalabgu -- in Odisha are virgin blocks, according to a latest report by the mines ministry.

New Delhi, Dec 18: The Government plans to put on sale next month six mineral blocks in the states of Odisha and Rajasthan. Of these six blocks to be auctioned, three are bauxite mines and three are limestone blocks. The three bauxite blocks — Ballada, Kutrumali and Sijimali — and two limestone mines — Garramura and Uskalabgu — in Odisha are virgin blocks, according to a latest report by the mines ministry. The remaining mine is Nimana-Duniya limestone block in […]

New Delhi, Oct 5: The Government plans to auction 22 mineral blocks in Maharashtra, Uttar Pradesh and Goa in November and December. The mines to be auctioned include six iron ore blocks, three blocks each of limestone and gold, two blocks of bauxite, one block each of copper, phosphorite and glauconite, according to the mines ministry. The notice inviting tenders for the blocks were floated in September. While the mines in Maharashtra will be auctioned next month, those in Uttar […]

Mineral blocks auction: So far, more than 180 mineral blocks have been put on sale since the system of auctioning of mineral blocks began. The government started the process of allocating mineral blocks through auctions in 2015-16.

The government plans to put on the block 13 gold mines in the states of Andhra Pradesh and Uttar Pradesh in the ongoing month amid its efforts to give a boost to the mining sectors contribution to the countrys gross domestic product, , Gold mines, uttar pradesh, Andra Pradesh