Company Law notification

MCA increases paid up share capital limit for rotation of private companies auditors

G.S.R. 621(E) (22/06/2017)

Paid up share capital limit for rotation of auditors in case of private companies has been increased from rupees twenty crore to rupees fifty crore or more. There are no changes in other criteria....

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MCA: Constitution of Committee(s) to review prosecution withdrawal

Order No. 10/17/2017-Legal (14/06/2017)

Ministry has decided to constitute following Regional Committees under the Chairmanship of Regional Director(s) of the concerned region(s) who would review all the prosecutions/pending litigations in their region(s) including cases filed by the Official Liquidators and furnish a report to the Ministry within two months....

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New Exemptions to Private Companies under section 462 of CA, 2013

G.S.R. 583(E) (13/06/2017)

In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 and in pursuance of sub-section (2) of section 462 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act), the Central Government, in the interest of public, hereby amends the notification of the Government of India, in...

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New Exemptions to Government Companies under section 462 of CA, 2013

G.S.R. (E). (13/06/2017)

G.S.R. (E). - In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 and in pursuance of sub-section (2) of section 462 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act), the Central Government, in the interest of public, hereby amends the notification of the Government...

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New Exemptions to Section 8 Companies under section 462 of CA, 2013

G.S.R. 584(E). (13/06/2017)

G.S.R. (E). - In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 and in pursuance of sub-section (2) of section 462 read with section 8 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act), the Central Government...

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Clarification on transmission of Securities by Operation of Law -Reg.

General Circular No. 07/2017 (05/06/2017)

It has been stated that since transfer of shares to IEPF under section 124 (6) of the Companies Act, 2013 read with rules referred to above takes place on account of operation of law hence the procedure followed during transmission of shares may be followed in such cases and duplicate shares need not be issued in such cases. ...

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SEBI on Formation of Committee on Corporate Governance

PR No.: 30/2017 (02/06/2017)

The Committee shall make recommendations to SEBI on the following issues with the aim of improving standards of corporate governance of listed companies in India: 1. Ensuring independence in spirit of Independent Directors and their active participation in functioning of the company;...

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Clarification regarding due date of transfer of shares to IEPF Authority

General Circular No. 06/2017 (29/05/2017)

The modalities for transfer/ transmittal of shares from companies accounts to the demat account of the IEPF Authority are being finalized with the depositories. IEPF Authority is considering to open special Demat account and till opening of demat accounts, the due date for transfer of shares stands extended. In view of this, a revised due...

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Comply with norms related to transfer of proceedings from HCs to NCLT before 14.06.2017

NA (17/05/2017)

The time for compliance of rule 5 of the Companies (Transfer of Proceedings) Rules, 2016 has been extended to six months from 15th December 2016 vide Notification No. GSR 175(E) dated 28th February, 2017 to six months from 15th December 2016....

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MCA withdraws Circular on Transfer of shares to IEPF Authority

General Circular No.05/2017 (16/05/2017)

General Circular No. 03/2017 dated 27.04.2017 regarding Transfer of shares to IEPF Authority is being reviewed by the Ministry and hence the said circular stands withdrawn with immediate effect....

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