Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revised capital adequacy (net worth) and new liquid net worth requirements under the Merchant Bankers Regulations apply from 3 January 2026, with existing merchant bankers required to meet phased thresholds by 2 January 2027 and 2 January 2028, intimate their intended Category I/II by 2 January 2027 with a CA-certified net worth (including liquid net worth) certificate, and face automatic down-categorisation to Category II or a bar on fresh permitted activities for non-compliance. "Liquid net worth" is prescribed as unencumbered liquid assets subject to specified haircuts, and total underwriting obligations are capped at 20 times liquid net worth (existing entities to comply by 2 January 2028), with half-yearly CA certifications. Mandatory NISM certifications, separation of the compliance officer, five-year experience for the principal officer, prohibition on outsourcing core activities (legacy arrangements to end by 3 April 2026), minimum revenue thresholds with cancellation exposure from 1 April 2029, marketing-only conflict disclosures, and ring-fenced SBU conditions for non-regulated activities are specified with defined timelines and reporting.
Revised capital adequacy (net worth) and new liquid net worth requirements under the Merchant Bankers Regulations apply from 3 January 2026, with existing merchant bankers required to meet phased thresholds by 2 January 2027 and 2 January 2028, intimate their intended Category I/II by 2 January 2027 with a CA-certified net worth (including liquid net worth) certificate, and face automatic down-categorisation to Category II or a bar on fresh permitted activities for non-compliance. "Liquid net worth" is prescribed as unencumbered liquid assets subject to specified haircuts, and total underwriting obligations are capped at 20 times liquid net worth (existing entities to comply by 2 January 2028), with half-yearly CA certifications. Mandatory NISM certifications, separation of the compliance officer, five-year experience for the principal officer, prohibition on outsourcing core activities (legacy arrangements to end by 3 April 2026), minimum revenue thresholds with cancellation exposure from 1 April 2029, marketing-only conflict disclosures, and ring-fenced SBU conditions for non-regulated activities are specified with defined timelines and reporting.
Note: It is a system-generated summary and is for quick reference only.
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