Karnataka Men Arrested for First GST Fraud in the State

InstaFinancials/ September 11, 2018/ News/ 0 comments

For the first time, a Criminal case has been registered under Goods & Services Tax(GST) in Karnataka. Two men from Bengaluru have allegedly committed fraud by raising fake invoices without paying any GST. Two businessmen named Hameed Rizwan Parthipady Ismail, proprietor of ARS Enterprises in Mathikere, dealing in ferrous and non-ferrous scrap and Jeetendra Kantilal Gandhi who owns Ganndhi Iron

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IDBI – Insolvency Application Against Reliance Naval & Engineering Limited

InstaFinancials/ September 7, 2018/ News/ 0 comments

Industrial Development Bank of India(IDBI) has filed an insolvency application to National Company Law Tribunal(NCLT) against Reliance Naval & Engineering Limited, an Indian Shipbuilding and Heavy industry company headquartered in Mumbai and owned by Anil Ambani. Summary Insolvency application filed in Anil Ambani’s Reliance Naval & Engineering Limited for seeking debt resolution under the Insolvency and Bankruptcy Code (IBC) IDBI has

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Directors Having Multiple DINs

InstaFinancials/ September 4, 2018/ News, Regulatory, Research/ 0 comments

Ministry of Corporate Affairs (MCA) had made it mandatory for all directors who are in possession of Multiple DIN to surrender the additional DINs and retain only the oldest DIN in pursuant to Section 153 read with rule 11 of The Companies (Appointment and qualification of Directors) Rule, 2014. Directors have to use Form DIR-5 to submit the duplicate or

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Company Status – All You Must Know

InstaFinancials/ August 31, 2018/ Academia/ 0 comments

Company Status is one of the most important information to verify before dealing with any company. Company Status indicates the present operational condition of a company. You can verify the status of any company as on date at MCA or any other reliable websites Summary Company status is a very important information which indicates the operational status of a company

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What You Must Check Before Dealing with Any Company in India

InstaFinancials/ August 28, 2018/ Academia/ 1 comments

You can verify the following key information of any company for FREE of cost before you take a business decision to deal with the company either as a vendor or customer or join the company as an employee or form any other business relationship. You can access this information about any company registered in India at no cost from the

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Visakhapatnam a Booming IT City with 17 New Companies

InstaFinancials/ August 13, 2018/ News/ 0 comments

[Word Count: 295 Estimate Read Time: 1 Min 28 Sec] Summary 17 new IT/ITES companies inaugurated by Andhra Pradesh Minister N Lokesh Naidu Expected to generate an employment of 10,170 and an investment of INR 558.70 crores The government is establishing a 1400 acre IT mega park where 5 lakh IT professionals can live and work The Andhra Pradesh Government

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Amrapali Group Properties Attached by SC

InstaFinancials/ August 7, 2018/ News, Watchlist/ 0 comments

 [Word Count: 316 Estimate Read Time: 1 Min 34 Sec] Summary Supreme Court Charges Amrapali Group as ‘Defrauding Investors’ Court orders attachment of all bank accounts and movable properties of all the 40 companies belonging to the Amrapali Group Supreme court has directed Amrapali Group to provide names of all the Chartered Accountant who handle the account of the 40

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Filing DIR 3 KYC Mandated by MCA

Raji M/ August 2, 2018/ Regulatory

[Word Count: 227 Estimate Read Time: 1 Min 8 Sec] The Ministry of Corporate Affairs would be conducting KYC of all Directors of all companies annually through a new form viz. DIR-3 KYC. According to MCA, every Director who has been allotted DIN on or before 31st March 2018 and whose DIN is in ‘Approved’ status should mandatorily file for

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