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October 21, 2011
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Appointment of CCI Chairman: Ashok Chawla takes oath as head of the Competition Commission, succeeding his predecessor.
Appointment of Chairman of the Competition Commission of India: Ashok Chawla was administered the oath of office as the new Chairman of the Competition Commission of India by the Union Corporate Affairs Minister, succeeding Dhanendra Kumar after his demission earlier in the year.
October 19, 2011
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Public issue classification: Sahara OFCDs treated as public offerings, triggering investor refunds and compliance obligations.
The tribunal sustained the securities regulator's classification of Sahara OFCD offerings as a public issue, requiring restitution to investors, payment of interest on refunds, and submission of independent chartered accountant certification of compliance; it also criticised the registrar of companies for insufficient scrutiny in registering the prospectus.
October 17, 2011
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Cost Accounting Records applicability: specified industries must maintain records unless exempted by small-scale machinery and turnover limits.
A consolidated schedule lists industries and product categories subject to the Companies Act cost accounting records requirement, noting notifications, effective dates and amendments that refine application clauses. It further specifies limited exemptions where a company meets the small-scale industrial undertaking criterion by reference to aggregate machinery and plant value and where the company's aggregate turnover from product sales during the preceding financial year does not exceed the prescribed turnover limit.
October 10, 2011
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Limited Liability Partnership formation requires partner DPINs, a digital signature, online filing and certificate issuance.
Formation of a Limited Liability Partnership requires obtaining DPINs for partners and at least one partner's Digital Signature Certificate, registering those credentials on the LLP portal, checking proposed name availability, downloading and uploading prescribed forms via the LLP website, tracking filing status, and receiving the certificate of incorporation before commencing operations.
October 8, 2011
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Annual filing schedule urges staggered submissions by company name to reduce system congestion and prioritize assistance.
Notification sets a preferred alphabetical schedule for filing companies' balance sheets and annual returns to stagger e filings and reduce system congestion on the MCA21 platform, and instructs ROC facilitation centres to prioritise support for companies filing within their designated alphabetical slots.
October 8, 2011
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Director Identification Number requirement: PAN must be furnished and DIN applications digitally verified; non-filing risks disablement and penalty.
DIN applications (DIN-1 and DIN-4) must be digitally signed and verified by specified professionals and will be approved online; existing DIN holders who did not provide PAN must file DIN-4 to furnish PAN, failing which the DIN may be disabled and the holder made liable for penalty. The filing timeframe for furnishing PAN has been extended to 15 December 2011.

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Acts Income Tax