Stay informed and up-to-date with the latest news and insights related to compliance
Judicial Insight
If you’re a Company Secretary, signing official company documents doesn’t automatically mean you’re personally responsible for financial errors until and unless you were part of making those errors. The Board and Auditors hold primary responsibility for truthful financial statements.
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The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, has launched an Integrated Portal to radically simplify the process of claiming unclaimed shares and dividends. As of August 1, 2025, the portal is in its final testing stage and connects key entities like investors, companies, depositories, and PFMS into one unified digital system.
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RBI has consolidated and harmonized guidelines on NFB facilities like guarantees, LCs, and co-acceptances to ensure uniformity across all regulated entities. Also aims to broaden funding options for infrastructure and improve credit market access.
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The circular combines all rules and guidelines for Credit Rating Agencies (CRAs) in the IFSC into one document. It is issued under the new Capital Market Intermediaries Regulations, 2025, to ensure clarity, uniformity, and easy reference for stakeholders.
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The Employees’ Provident Fund Organisation (EPFO) released a circular on July 22, 2025 regarding proper declaration of gross wages in the monthly Electronic Challan-cum-Return (ECR) submission by employers.This specific instruction pertains to the Employment Linked Incentive (ELI) Scheme, which incentivizes both employers and employees. In the ELI Scheme, criteria include a restriction for employees whose gross monthly wages exceed ₹1,00,000. This limitation makes the accurate reporting of gross wages in the ECR critical for determining eligibility in the scheme and preventing unintended claims or denials.
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The Central Board of Direct Taxes (CBDT) issued Circular No. 9/2025, which modifies Circular No. 3/2023 regarding the impact of PAN becoming inoperative under Rule 114AAA of the Income-tax Rules,1962. The earlier circular stated that PANs would become inoperative if not linked with Aadhaar as of 1st July 2023, incurring higher TDS/TCS rates under sections 206AA and 206CC of the Income-tax Act, 1961.
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As outlined in the RBI’s Master Direction on Non-Banking Financial Company Scale Based Regulation (SBR) dated 17th July 2025, the Reserve Bank of India has integrated and refined the regulations governing the Non-Banking Financial Companies (NBFCs) sector. The framework classifies NBFCs into four layers—Base Layer (BL), Middle Layer (ML), Upper Layer (UL), and Top Layer (TL)—based on size, activity, and systemic risk. NBFCs and ICCs, MFI sectors, Factors, and Infrastructure finance companies (IFCs), along with IDF-NBFCs, are all included in the NBFCs category and are therefore subject to the all-encompassing Directions. Each of these categories is subjected to different compliance requirements, which include governance, activity-based compliance, and prudential norms.
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[Varun Tyagi v. Daffodil Software Private Limited, FAO 167/2025& CM APPL.36613/2025,Delhi High Court]
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