Updates:

1. CBEC prescribes requirements to claim refund of input tax credit, releases draft Circular.
2. There is no impediment in law sanctioning reduction of the share capital held by public shareholders. [Meena Steels Ltd. vs. High Court Of Delhi].
3.  SEBI has proposed a new framework for super-fast algorithm (algo) trading by suggesting random ‘speed bumps’ and separate queues for algo and non-algotrades by releasing a Discussion Paper 'Strengthening of the Regulatory framework for Algorithmic Trading & Co-location’.
4. RBI has notified (AIFIs) (Exim Bank, NABARD, NHB and SIDBI), shall follow the Indian AS as notified under the Companies (Indian Accounting Standards) Rules, 2015, subject to direction issued by the Reserve Bank in this regard.
5.  CBDT mandates PAN of authors/ founders/ trustees/ managers in Form 10A. Notification No. 67/2016