CAalley Newsletter dated April 17, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Legal Updates:

MCA

SEBI

DGFT

Customs

News Update:

Indian News:

PwC India to invest ₹600 crore in people development in next 3 years

CBIC may soon introduce automated system of publishing daily exchange rates for 22 currencies

New data processing unit to streamline corp filings

SEBI cracks down on Brightcom Group for accounting irregularities

RBI's norms on outsourcing IT services will improve corporate governance

New foreign trade policy tightens norms on ‘gift’ imports

NFRA imposes ban, fine on DHFL branch auditors

FinMin plans ₹3,000 cr. additional capital infusion in PSU general insurance cos in FY24

International News:

Dubai court orders KPMG to pay $231mn for Abraaj fund audit failure

Businesses must evaluate long-term assets’ economic lives

ICEAW: How should we redefine accounting?

Legal Updates:

MCA:

Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2023

SEBI:

Dispute Resolution Mechanism for Limited Purpose Clearing Corporation (LPCC)

DGFT:

Procedure for applying for Amnesty scheme for one-time settlement of default in export obligation by Advance and EPCG authorization holders [Circular No.1]

Amendments in Annexure-IV under Appendix-2A (Imports of Items under TRQ under India- UAE CEPA) [Public Notice No.6]

New HSN Codes for Technical Textiles items in ITC(HS), 2022 Schedule -I (Import Policy) [Trade Notice No.2]

Customs:

Customs (Waiver of Interest) Third Order, 2023 [Order No.3]