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India has allowed domestic companies to list their shares directly on global exchanges at Gujarat's GIFT City. The new regulatory framework provides easier access to foreign capital for entities in the sunrise and technology sectors.
Read more about MCA amends provisions of SBO's share transfer to investor awareness fund on Business Standard. An SBO is a person holding a beneficial interest of at least 10 per cent whether acting alone, together or through one or more individuals or trust, in a company
A senior government official told ET that the new system with these features would be rolled out from October. It will significantly bring down compliance requirements for companies and will be a "more trust-based system", the official added.
A total of eight sections relating to the register of significant beneficial owners, disqualifications of directors, conduct of inquiries and inspections and non-cognizable offences will soon be applicable to LLPs, the MCA said in an intimation on Thursday.
Lighter compliance burden, easier debt resolution for small companies SECTIONS Share Synopsis With a focus on ease of doing business, the government would take up decriminalisation of compoundable offences under the Limited Liability Partnership Act, Sitharaman said. ThinkStock Photos The minister also announced changes to the rules governing one-person companies (OPCs). More companies are set to benefit from a lighter compliance burden as the finance minister has proposed to revise the definition of a small company under India’s corporate laws. Also, firms will find it easier to resolve th...