Company Law

Checklist for conversion of Public Company to Private Company as per Companies Act, 2013

Keeping in view of the new process under NCLT for conversion of a Public Company into a Private Company and as the Ministry of Corporate Affairs (MCA) has provided various exemptions to Private Company under various provisions of the Act, many Public Companies want to convert themselves into Private Company....

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Comparison of Format of Profit & Loss Account and Balance Sheet of IND AS Compliant & Other Companies

MCA notified amendments to existing Schedule III by way of notification on 6th April 2016. Revised Schedule III is divided into DIVISION I and DIVISION II. The purpose of notification was to prescribe new format of P&L and Balance Sheet for IND AS Compliant Companies....

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A Quick summary on small company

The concept of Small Company has been introduced in the Companies Act, 2013. As per the act some companies are small companies based on their capital and turnover position for the purpose of providing certain relief/exemptions to these companies.As this concept is introduced because they do not require more compliances as large private an...

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Dividend – Icing on the cake

Final dividend is recommended by the Board of directors and it is declared by the shareholders at the Annual General Meeting (AGM). Generally, the articles of association (AOA) of Company provide that the shareholders cannot increase the rate or amount of dividend than the one recommended by the Board....

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Resolution Passed by Unanimous Consent of Directors

The Provisions of Section 175 of the Companies Act, 2013 empowers the Board to pass some resolutions by Circulation by complying with provisions of this section and the rule made there under....

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Major Achievements of MCA for the Month of January, 2017

During the month two notification(s) (one for private companies and the other for public companies) under section 462 of the Companies Act, 2013 [CA-13] have been issued providing for exceptions, modifications and adaptations from some of the provisions of the CA-13 for companies licensed to operate by the Reserve Bank of India or Securit...

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Request to comply with provisions of Companies Act, 2013

Ministry of Corporate Affairs to analyse the compliance with the provisions of the Companies Act, 2013 and Rules thereon wherein it was discussed that the members should take due care in enhancing compliance with the provisions of the Companies Act, 2013....

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Harsh punitive against deviant Shell Companies: MOF

Harsh punitive actions to be taken against the deviant Shell Companies including freezing of Bank Accounts, striking off the names of dormant companies, invocation of Benami Transactions (Prohibition) Amendment Act, 2016; A Task Force set-up under the Co-chairmanship of the Revenue Secretary and Corporate Affairs Secretary with members fr...

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Draft Ind AS compliant Schedule III to Companies Act 2013 for NBFCs

Following is the Exposure Draft of the Ind AS-compliant Schedule III to the Companies Act, 2013, for Non-Banking Financial Companies (NBFCs) issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. ...

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PAN / TAN to be applied compulsorily with fresh incorporation application

Applying for PAN / TAN will be compulsory for all fresh incorporation applications filed in the new version of the SPICe form on or after 23 January 2017....

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SC upholds constitutional validity of NCLT

Madras Bar Association Vs Union of India & ANR. (Supreme Court of India) - MADRAS BAR ASSOCIATION Vs. UNION OF INDIA & ANR. (Supreme Court) The petitioner felt aggrieved by that part of the judgment vide which establishments of NCLT and NCLAT was held to be Constitutional....

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Postal ballot & e-voting cannot dispense general meeting – HC

Scheme of amalgamation of Wadala Commodities Limited with Godrej Industries Limited (Bombay High Court) - Bombay high court in scheme of amalgamation between Wadala Commodities Limited with Godrej Industries Limited has passed a judgment on postal ballot and e-voting. Court has observed that postal ballot and e-voting is an additional facility and cannot have the effect of dispensing the general meeting...

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New Companies Rules not binding till Publication in official gazette – HC

Scheme of amalgamation of Wadala Commodities Limited with Godrej Industries Limited (Bombay High Court) - Bombay High Court in scheme of amalgamation between Wadala Commodities Limited with Godrej Industries Limited has stated that gazetted copy of many MCA rules are not available, hence in the opinion of the court they are not binding so far or at least from 1st April 2014....

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Amendment made by Companies Act, 2013 are under Consideration – MCA TO Delhi HC

Mr. Harish Khurana Vs MCA & Another (Delhi High Court) - In an Writ Petition filed by Mr. Harish Khurana before Delhi High Court against the Various amendment made by Companies Act,2013, Ministry of Corporate Affairs has submitted before the Honorable Delhi High Court that several representations made by the petitioner and other similarly ...

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CL -HC set aside order of refusing to extend interim order of injunction granted by Division Bench without assigning reasons

Sri Krishna Constructions Vs Tiffin’s Barytes, Asbestos and Paints Ltd. (Madras High Court) - At the outset, it is clear that as it is in the judgment of the Division Bench, which arose almost under similar circumstances, wherein the learned judge has abruptly dismissed the application for injunction on the ground that the company court has no jurisdiction to pass an interlocutory order or i...

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Section 391(2) closure of place of business by a Foreign Company

General Circular No. 01/2017 - (22/02/2017) - Section 391(2) Companies Act, 2013 would apply only in case of a foreign company which has issued prospectus or IDRs pursuant to provisions of Chapter XXII of Companies Act, 2013....

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Govt extends tenure of Shri Amardeep Singh Bhatia

Notification No. S.O. 554(E) - (20/02/2017) - Central Government hereby extends the period of tenure of Shri Amardeep Singh Bhatia, as Chief Executive Officer (Additional Charge) in the Investor Education and Protection Fund Authority for a further period of one year with effect from the 1st November, 2016 or till further orders, whichever is e...

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Substitution of RBI nominee in NACAS

S.O...(E) - (08/02/2017) - MCA Notification on Re-constitution of National Advisory Committee on Accounting Standards (NACAS)-Substitution of RBI nominee...

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Companies (Incorporation) Amendment Rules, 2017

G.S.R (E) - (25/01/2017) - The Certificate of Incorporation shall be issued by the Registrar in Form No.INC-1 1 and the Certificate of Incorporation shall mention permanent account number of the company where if it is issued by the Income-tax Department...

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Exemption to IFSC Private company U/s. of 462 of Companies Act, 2013

G.S.R. 9(E) - (04/01/2017) - MCA Notification –Exemption to Specified International Financial Services Centre (IFSC) Private company –under section 462 of Companies Act, 2013...

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Recent Posts in "Company Law"

Section 391(2) closure of place of business by a Foreign Company

General Circular No. 01/2017 (22/02/2017)

Section 391(2) Companies Act, 2013 would apply only in case of a foreign company which has issued prospectus or IDRs pursuant to provisions of Chapter XXII of Companies Act, 2013....

Read More

Checklist for conversion of Public Company to Private Company as per Companies Act, 2013

Keeping in view of the new process under NCLT for conversion of a Public Company into a Private Company and as the Ministry of Corporate Affairs (MCA) has provided various exemptions to Private Company under various provisions of the Act, many Public Companies want to convert themselves into Private Company....

Read More
Posted Under: Company Law |

Govt extends tenure of Shri Amardeep Singh Bhatia

Notification No. S.O. 554(E) (20/02/2017)

Central Government hereby extends the period of tenure of Shri Amardeep Singh Bhatia, as Chief Executive Officer (Additional Charge) in the Investor Education and Protection Fund Authority for a further period of one year with effect from the 1st November, 2016 or till further orders, whichever is earlier....

Read More

Comparison of Format of Profit & Loss Account and Balance Sheet of IND AS Compliant & Other Companies

MCA notified amendments to existing Schedule III by way of notification on 6th April 2016. Revised Schedule III is divided into DIVISION I and DIVISION II. The purpose of notification was to prescribe new format of P&L and Balance Sheet for IND AS Compliant Companies....

Read More

A Quick summary on small company

The concept of Small Company has been introduced in the Companies Act, 2013. As per the act some companies are small companies based on their capital and turnover position for the purpose of providing certain relief/exemptions to these companies.As this concept is introduced because they do not require more compliances as large private an...

Read More
Posted Under: Company Law |

Dividend – Icing on the cake

Final dividend is recommended by the Board of directors and it is declared by the shareholders at the Annual General Meeting (AGM). Generally, the articles of association (AOA) of Company provide that the shareholders cannot increase the rate or amount of dividend than the one recommended by the Board....

Read More
Posted Under: Company Law |

Resolution Passed by Unanimous Consent of Directors

The Provisions of Section 175 of the Companies Act, 2013 empowers the Board to pass some resolutions by Circulation by complying with provisions of this section and the rule made there under....

Read More
Posted Under: Company Law |

Major Achievements of MCA for the Month of January, 2017

During the month two notification(s) (one for private companies and the other for public companies) under section 462 of the Companies Act, 2013 [CA-13] have been issued providing for exceptions, modifications and adaptations from some of the provisions of the CA-13 for companies licensed to operate by the Reserve Bank of India or Securit...

Read More
Posted Under: Company Law |

SPICe: Does it add SPICE to the Incorporation of the Company

Ministry of Corporate Affairs (MCA) has recently introduced SPICe Form INC – 32 which is a Simplified Performa for incorporating Company Electronically. SPICe Form INC – 32 can help incorporate a company with a single application for reservation of name, incorporation of the new company and/or application for allotment of DIN....

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Posted Under: Company Law |

Request to comply with provisions of Companies Act, 2013

Ministry of Corporate Affairs to analyse the compliance with the provisions of the Companies Act, 2013 and Rules thereon wherein it was discussed that the members should take due care in enhancing compliance with the provisions of the Companies Act, 2013....

Read More
Posted Under: Company Law |
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Company Law News India

Corporate law also known as the company law is the study of how the directors, shareholders, creditors, employees and other participants in the community, consumers, and the environment work together with each other. Company law deals with organizations which are registered or incorporated under the Indian company law. The latest Companies Act is the Act which controls the incorporation of companies, responsibilities of companies, directors and laws relating to dissolution of any company. The newly constituted Companies Act 2013 is divided into twenty-nine chapters comprising 470 with 7 schedules. This Act replaced the previous Companies Act, 1956 on August 29th, 2013. The newly constituted Act came into action on September 12th, 2013 with number of changes.

At Taxguru, we provide all the latest news relating to company law in India. Our portal is designed for alerting you on all the latest developments in the company law. We provide all the key cases, help, and guidance on all facets of company law.

Get to know about all significant changes in the Indian corporate laws with our comprehensive and the latest company law news. Our panel of experts offers in-depth analysis and understanding of the corporate and allied laws. At Taxguru, we cover everything from regulations for LLPs to changes in the corporate governance, M&A and Takeover Code, SEBI reforms, exchange controls and commercial arbitration. Tune in to find out more about the corporate laws and all the key developments.

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