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Internal Control and Monitoring Directive, 2080

The Office of the Company Registrar issued the “Internal Control and Monitoring Directive, 2080 (2023)” on 16 Kartik 2080. This insight delves into how the directive aims to improve the quality of services, ensure company compliance with relevant laws, ultimately bolstering the credibility of company administration in Nepal.

Passing Off of Trademarks

Trademark and passing off are globally crucial for brand protection. In Nepal, the Patent, Design, and Trademark Act governs trademark registration, emphasizing exclusive usage rights. Nepal law and courts to an extent recognizes passing off for unregistered trademarks, fairly showcasing a commitment to safeguarding businesses.

Navigating the Digital Landscape of Social Media

In an era dominated by digital interactions, the Government of Nepal has taken a decisive step towards regulating and fostering self-regulation within the realm of social media. This article explores the details of the new Directive shaping social media regulations.

Telecom Asset Management Rules, 2079 (2022)

A brief on the Asset Management of Telecommunications Service Providers with Non-Existent Licence, 2079 (2022) laying out the procedures to expropriate the tangible and intangible assets held by telecommunication service providers with non-existent licence.

Limitation Laws on Contractual Matters and Arbitrations

This brief explores the Nepalese Arbitration Act of 2055 (1999), shedding light on temporal boundaries in contractual matters and arbitration. It also delves into statutory time limits, offering insights through landmark cases within Nepal's legal landscape of dispute resolution.

Amendment to the Working Capital Guideline, 2079 (2022)

The Nepal Rastra Bank has issued an official notice, dated 11 Bhadra 2080 (2023), which underscores the paramount importance of working capital loans by introducing some significant modifications in the "Working Capital Guidelines, 2079 (First Amendment) (2022).

Utilization of the Employee Welfare Fund

This brief delves into the regulatory provisions and discretionary powers vested in the Labour Relation Committee for governing the usage of the Employee Welfare Fund, shedding light on the mechanisms guiding employee welfare.

Incorporation of a Foreign Company

This brief offers insights into the Company Act, 2063 (2006), elucidating the prerequisites and procedures for the registration, compliance, cancellation, and winding up of foreign companies in Nepal, providing a roadmap for their operations.

Untangling Tax Residency

Evaluating the need for permanent establishment registration for foreign entities and to better understand the registration, criteria for transactions, exceptions to these criteria, significance of registration and complexities of tax implications for foreign entities in conducting business in Nepal.

Digital Service Tax Related Procedures, 2079 (2022)

This overview focuses on a framework for imposing direct taxes on the transaction value of digital services provided by non-resident individuals to Nepalese consumers. It highlights the taxation aspects of digital commerce in Nepal, introduced under Section 20 of the Finance Act, 2079 (2022). The economic landscape is rapidly evolving, and this measure aims to address the challenges.

Brief on the Second Amendment to the Company Directive, 2072 (2015)

This brief highlights the reforms brought by the Second Amendment of 2079 (2022) to the Company Directive, 2072 (2015) which was formulated by the Office of the Company Registrar in order to implement the Company Act efficiently and conduct company administration-related work effectively and systematically.

Startup Enterprise Fund Procedure, 2079 (2023)

Highlighting the Startup Enterprise Fund Procedure, 2079 (2023), approved on 10 Falgun 2079 (22 February 2023), which streamlines the process of granting concessional loans to startups, prioritizing simplicity, transparency, and effectiveness in its operations.

Social Security in Nepal

Social Security in Nepal is a government-run program that provides financial assistance to citizens in the form of pensions, disability benefits, and survivor benefits. The program is funded through contributions from workers, employers, and the government. It is administered by the Ministry of Labour, Employment, and Social Security.

Codes Used for Different Cases at the Court

Nepal’s robust judicial system manages diverse case categories, each meticulously designated with specific reference codes. These codes seamlessly integrate into the daily court cause lists, enhancing the efficiency of legal proceedings and facilitating organized and streamlined administration within the country’s courts.

Conversion from a Private to a Public Limited Company

This article provides a comprehensive analysis of the criteria and procedures involved in the conversion of an entity from a private limited company to a public limited company, as stipulated by the Company Act, 2063 (2006) of Nepal. It also delves into the post-conversion requirements, offering a thorough overview of this significant transformation.

The Revised Minimum Wage

The Ministry of Labour, Employment and Social Security has determined the following minimum remuneration for employees and labours, excluding those employed in tea estates, effective from 1st Shrawan, 2080 BS (17 July 2023), as outlined below

The Social Security Fund

For the fiscal year 2080/81 (2023/24), the Board of Directors of the Social Security Fund unveils the following new interest rates, a key component in the financial landscape, aimed at safeguarding the welfare of members of the society.

10 Years of RCA

Commencing a decade of unwavering professional excellence, Reliance Corporate Advisors (RCA) is committed to streamlining your business operations and addressing all your corporate and legal requirements with the utmost dedication and expertise.

Training on Dispute Settlement and Arbitration

Adv. Prakrit Shrestha conducted a training on contract administration, management and drafting in relation to dispute settlement and arbitration at Union House, Anamanagar on 6 October 2023, organized by the Patan High Court Bar Association. The event saw an interactive participation of prominent lawyers and legal practitioners.

Social Security Fund Briefing Session

A comprehensive discussion event was organized at the RCA Conference Hall to address the topic of "Social Security Fund (SSF) - Understanding the Benefits and Claim Procedure." This event was spearheaded by the team members of RCA, CA Bishal Panthi, Adv. Dechen Gurung, and Adv. Nikhil Dongol.

Training on Alternative Dispute Resolution and Arbitration

On 10 August 2023, Adv. Prakrit Shrestha conducted a training session on Alternative Dispute Resolution (ADR) and Arbitration at the Nepal Council of Arbitration (NEPCA). The session highlighted the advantages of arbitration as a dispute resolution method, covered arbitration procedures, and included interactive discussions and case studies.

Corporate Social Responsibility Event by RCA

RCA organized a CSR event at Hope Rising Children Home, Mahalaxmi, Lalitpur on 5 August 2023. The day included a wholesome breakfast, engaging games, gift distribution, and a satisfying lunch with the children. RCA's commitment to CSR is driven by the sincere intention to foster a positive and meaningful impact on society.

Representation at Rotterdam Convention, Geneva, Switzerland, May 2023

Adv. Prakrit Shrestha, participated in the 16th meeting of the Conference of the Parties to the Basel Convention, the 11th meeting of the Conference of the Parties to the Rotterdam Convention, and the 11th meeting of the Conference of the Parties to the Stockholm Convention held from 1-12 May 2023, in Geneva, Switzerland.

Dashain and Tihar, 2022

A splendid celebration of Dashain and Tihar was organized by Reliance at Vivanta (by Taj), Jhamsikhel, Lalitpur that brought together a distinguished gathering of Senior Advocates, Advocates, Senior Chartered Accountants, Industrialists and Legal Professionals. A delightful evening of camaraderie in spirit of these important Nepalese festivals.