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Company Rules Update: Reporting for delayed payment to micro and small enterprises

Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order 2019 The order comes into effect from January 22, 2019 Ministry of Micro, Small and Medium Enterprises (MSME) had issued notification number S.O. 5622(E) dated 2nd November, 2018 directing all companies who get supplies of goods or services from micro and small enterprises where the payment to them is outstanding for more than 45 days from the date of acceptance/ deemed acceptance of goods or services to submit half yearly return to Ministry of Corporate Affairs (MCA) stating the amount of payment due and reasons of delay. Before the issue of November 2018 notification, companies were required to make payment to MSMEs within 45 days but there was no reporting requirement in case of d...

Member News: AuthBridge acquires Bangalore-based Footprints Collateral Services

AuthBridge Research Services Pvt. Ltd. – a 13-year-old Indian firm announced the acquisition of – Footprints Collateral Services Pvt. Ltd. from Bangalore and with this has gone on to become the largest Indian Company offering Employee Background Screening Solutions.     This acquisition marks the biggest deal in an emerging and much-desired industry of Background Screening in India, which currently serves only 5-7% of the potential market, which is estimated to be over a billion dollars in market size.   Given the changing socio-economic dynamics in a country like India, the demand for Employee background Verification Services has witnessed a steady increase across industries and cities and is being demanded and asked for from lowest rung of the employee chain – at driver/delivery bo...

Member News – SPi Global acquires Scope e-Knowledge Center

SPi Global, the market leading content technology and content solutions enterprise that provides data services and subject matter expertise (SME) to multiple industries, today announced it has completed the transaction for the acquisition of Scope e-Knowledge Center, a leading provider of specialized knowledge services for publishers and information providers. Scope is one of the five businesses under the Quatrro group of companies’ umbrella, largely focused on services and fulfillment, leveraging platforms and technology in specified domains. “The acquisition of Scope is part of our strategic plan to expand and become the undisputed leader in content technology and knowledge services industries. It will reinforce our ongoing efforts to build a sophisticated suite of solutions for data-dis...