Companies Act 2013

Private Limited Company Registration Process

Company Law - A private limited company is a type of privately held small business entity. This type of business entity limits owner liability to their shares. Private limited company does not raise capital from the public. This means that it does not issue shares for public subscription....

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Company Law Case Studies for CA/CS/CMA Examination

Company Law - Q1 ABC ltd intend to issue of 10,000 bonus shares to preference shareholder as on 1 July 2016 as per the requirement of SEBI guidelines, BOD announced the issue of bonus shares as on 1 July 2016, IN MEANWHILE, ROC issued a notice to the company it is not tenable in law & against the […]...

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Nidhi Company-Provisions as per Companies Act 2013

Company Law - a) A Nidhi to be incorporated under the Act shall be a public company and shall have a minimum paid up equity share capital of five lakh rupees. b) Every Company incorporated as a Nidhi shall have the last words ‘Nidhi Limited’ as part of its name....

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Quick reference note on compliance requirements for Appointment of a Managing Director by a Private Company

Company Law - The subject of discussion being touched here is a not a new but commonly searched topic by the young professionals, both in employment or practice, who are looking for quick solutions as to the position of law and compliance requirements on date due to confusion on account of plethora of clarifications/ circulars and exemptions to private...

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Frequently Asked Questions on The Companies Act, 2013

Company Law - The Companies Act, 2013 was enacted to improve Corporate Governance and better transparency in the corporate sector which is imperative to infuse confidence amongst investors in Indian market and abroad and to further strengthen regulations for the companies...

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Withdrawal of FAQs on Revised Schedule VI to Companies Act, 1956

Company Law - ICAI withdraws Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 as issued by the Corporate Laws & Corporate Governance Committee in May, 2012....

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Exposure Draft of Guidance Note on Division II- Ind AS Schedule III

Company Law - Request to give comments/ suggestions on the Exposure Draft of the Guidance Note on Division II- Ind AS Schedule III to the Companies Act 2013 by 30th April, 2017...

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Notices for non-compliance with Section 148 / 233B of Companies Act, 2013- Reg.

Company Law - Few Hon'ble Members of the Institute informed that they and their client companies have received letters/notices from the Courts and/or from the Cost Audit Branch or Registrar of Companies, Ministry of Corporate Affairs. These relate to purported non‐compliance with the provisions of Section 148 of the Companies Act, 2013...

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Soon Aadhaar Integration will be must for MCA21 Services

Company Law - MCA is actively considering Aadhaar Integration for availing various MCA21 related services. As a preparatory step, all individual stakeholders viz. DIN holders/Directors/Key Managerial Personnel/Professionals of the Institute of Company Secretaries of India-Institute of Chartered Accountants of India-Institute of Cost Accountants of Indi...

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ROC notice to more than 2 Lakh Companies for Strike off of Name

Company Law - Registrar of Companies has issued notices to more than 2 Lakh Companies all over India who have not commenced business within one year of their incorporation or who have not been carrying on any business or operation for a period of two immediately preceding financial years and have not made any application within such period […]...

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Company unable to pay debt/tax to Government Judicial discretion to direct winding up should not be exercised

Budhia Auto Associate Pvt. Ltd. Vs None (Chhattisgarh High Court) - This petition for winding up has been preferred by the company itself without referring to the relevant clause of Section 433 of the Companies Act, 1956 ('the Act' in short), however, in course of argument it was informed that the petition is under Section 433 (e) of the Act....

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Wind up Petition by employee claiming unpaid Salary is Maintainable

Mr Sanjay Sadanand Varrier Vs M/s Power Horse India Pvt.Ltd. (Bombay High Court) - An employee can maintain a Petition for winding up of a Company under section 439 r/w sections 433(e) and 434 of the Companies Act, 1956 as a creditor based on the claim of the recovery of his unpaid salary and wages. ...

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Dispensing with requirement for convening meeting of Equity Shareholders not possible: NCLT

Re. JVA Trading Private Limited (National Company Law Tribunal) - In relation to the dispensation of the meeting of the equity shareholders of the Transferor Company is concerned we are not inclined to grant dispensation taking into consideration the provisions of Companies Act, 2013 and the rules framed there under both of which expressly do not clothe this Tribu...

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A person other than member or creditor can also challenge Company Name striking off

Rishima SA Investments LLC Vs Registrar of Companies, West Bengal & Ors. (Calcutta High Court) - Is a person, not being a member or a creditor or the company itself, entitled to challenge the striking off of the name of the company under Section 560 of the Companies Act, 1956? Does the petitioner have the locus standi to file and maintain the present writ petition?...

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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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Transfer of Shares to IEPF Authority

General Circular No.03/2017 - (27/04/2017) - All companies required to transfer shares to IEPF Authority under the aforesaid Rules shall transfer such shares, whether held in dematerialised form or physical form,to the demat account of IEPF Authority by way of corporate action....

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Filing of e-form IEPF-1 despite non generation of IEPF payment Challan

General Circular No. 02/2017 - (20/04/2017) - In terms of Investors Education and Protection Fund (Accounting, Audit, Transfer and Refund) Rules, 2016 as notified on 05.09.2016, and as per the prerequisites of e-form IEPF-1, the companies are required to transfer the amounts to Investor Education and Protection Fund (IEPF) through Challans gene...

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Major Achievements of MCA for The Month of March, 2017

Notification No. I-27011/2/2017-Coord. - (17/04/2017) - MCA, vide notification no. G.S.R. 258(E), dated 17.03.2017 has notified amendments to Ind AS 102(Share-based Payments) and to Ind AS 7(Statement of Cash Flows). Amendments to Ind AS 102, pertaining to the classification and measurement of share-based payment transactions clarify as to how to account...

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Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2017

F. No. 1/37/2013 CL.V - (13/04/2017) - GSR ._ In exercise of the powers conferred by section 234 read with section 469 of the Companies Act, 2013, the Central Government, in consultation with the Reserve Bank of India, hereby makes the following rules to amend the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016...

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Companies (Removal of Names of Companies from Register of Companies) Amendment Rules, 2017

F. No. 1/28/2013-CLV - (12/04/2017) - G.S.R. ....(E).- In exercise of the powers conferred by sub--sections (1), (2) and (4) of section 248 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Removal of Names of Companies from the Register of Comp...

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Recent Posts in "Companies Act 2013"

Private Limited Company Registration Process

A private limited company is a type of privately held small business entity. This type of business entity limits owner liability to their shares. Private limited company does not raise capital from the public. This means that it does not issue shares for public subscription....

Read More
Posted Under: Company Law |

Company Law Case Studies for CA/CS/CMA Examination

Q1 ABC ltd intend to issue of 10,000 bonus shares to preference shareholder as on 1 July 2016 as per the requirement of SEBI guidelines, BOD announced the issue of bonus shares as on 1 July 2016, IN MEANWHILE, ROC issued a notice to the company it is not tenable in law & against the […]...

Read More
Posted Under: Company Law |

Transfer of Shares to IEPF Authority

General Circular No.03/2017 (27/04/2017)

All companies required to transfer shares to IEPF Authority under the aforesaid Rules shall transfer such shares, whether held in dematerialised form or physical form,to the demat account of IEPF Authority by way of corporate action....

Read More

Withdrawal of FAQs on Revised Schedule VI to Companies Act, 1956

CL&CGC/ 20/ 2017-2018 (25/04/2017)

ICAI withdraws Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 as issued by the Corporate Laws & Corporate Governance Committee in May, 2012....

Read More
Posted Under: Company Law |

Nidhi Company-Provisions as per Companies Act 2013

a) A Nidhi to be incorporated under the Act shall be a public company and shall have a minimum paid up equity share capital of five lakh rupees. b) Every Company incorporated as a Nidhi shall have the last words ‘Nidhi Limited’ as part of its name....

Read More
Posted Under: Company Law |

Exposure Draft of Guidance Note on Division II- Ind AS Schedule III

Request to give comments/ suggestions on the Exposure Draft of the Guidance Note on Division II- Ind AS Schedule III to the Companies Act 2013 by 30th April, 2017...

Read More
Posted Under: Company Law |

Quick reference note on compliance requirements for Appointment of a Managing Director by a Private Company

The subject of discussion being touched here is a not a new but commonly searched topic by the young professionals, both in employment or practice, who are looking for quick solutions as to the position of law and compliance requirements on date due to confusion on account of plethora of clarifications/ circulars and exemptions to private...

Read More
Posted Under: Company Law |

Frequently Asked Questions on The Companies Act, 2013

The Companies Act, 2013 was enacted to improve Corporate Governance and better transparency in the corporate sector which is imperative to infuse confidence amongst investors in Indian market and abroad and to further strengthen regulations for the companies...

Read More
Posted Under: Company Law |

Filing of e-form IEPF-1 despite non generation of IEPF payment Challan

General Circular No. 02/2017 (20/04/2017)

In terms of Investors Education and Protection Fund (Accounting, Audit, Transfer and Refund) Rules, 2016 as notified on 05.09.2016, and as per the prerequisites of e-form IEPF-1, the companies are required to transfer the amounts to Investor Education and Protection Fund (IEPF) through Challans generated on MCA 21 portal....

Read More

Casual vacancy due to resignation of Auditor under Companies Act, 2013 with relevant formats

The term casual vacancy has not been defined in the Companies Act, 2013. Generally, it means a vacancy caused due to death, disqualification and resignation of an auditor. Through this article, we are going to discuss casual vacancy arises due to resignation of Auditor in a Company under the Companies Act, 2013....

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Posted Under: Company Law |
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