Companies Act 2013

Amendment Companies Act, 2013- June-July, 2017

Company Law - In this Flash editorial, the author referring amendment (i.e. in Rules, Sections, Circulars, Notifications) issued by Ministry of Corporate Affairs in the Month of June – July, 2017. This is article no. 246 of the series of editorials written by the author on corporate laws...

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13 FAQ’s On Merger and Amalgamation

Company Law - Which companies are allowed to merge? Companies Act, 2013 does not prescribe any eligibility requirements of companies for the merger. However, it prescribes several questions which will be answered in further lines. ...

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SPICe Simplified Proforma For Incorporating Company Electronically

Company Law - Ministry of corporate affairs came up with the new concept that incorporation of a new company with in one day. It is simplified procedure (SINGLE WINDOW FORM) to incorporate new company with Name reservation, DIN, PAN, TAN & CIN. In global scenario Now, It is easy way to startup business within single day....

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Entrenchment of Article of Association under Section 5 of CA 2013

Company Law - Entrenchment of Article of Association is required in case where we want to specifically enforce the applicability of certain actions, which cannot be overridden until and unless supported by supermajority or a referendum or in order to protect the interest of minority shareholders, where the consent of minority party is required to overr...

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Brief Overview of Secretarial Audit

Company Law - Secretarial audit defined under Companies Act, 2013. It is Compliance of various applicable laws under companies act or any other act, rules, regulation and Procedure. Secretarial audit will be helpful to the Promoters, Independent & Non- Independent Directors, government authorities & regulators, Investors, stakeholders, Creditors and ma...

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Monthly Summary of Ministry of Corporate Affairs for May, 2017

Company Law - This Ministry vide Circular no. 04/2017 dated 16.05.2017 has issued a clarification that applications rejected by the Regional Director under Section 22(1) (ii) (b) of Companies Act, 1956 on the ground of expiry of limitation period cannot be reconsidered on a fresh application made under Section 16(1)(a) of the Companies Act, 2013....

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Draft Companies (Registered Valuers and Valuation) Rules, 2017

Company Law - The draft Companies (Registered Valuers and Valuation) Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments....

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Amendment in Guidance Note on Audit of Consolidated Financial Statements

Company Law - Important Clarification on Amendment to Paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements issued by ICAI...

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CSR is getting mainstreamed through Companies Act 2013

Company Law - The Minister of State (MoS) for Finance and Corporate Affairs, Shri Arjun Ram Meghwal, says Corporate Social Responsibility (CSR) is getting mainstreamed through the Companies Act 2013. This landmark legislation has brought the issue of CSR from back rooms of corporates to their Board rooms ...

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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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Principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases: NCLT

Re. M/S UW International Training & Education Centre for Health Pvt. Ltd. (NCLT Delhi) - NCLT held that the principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases, it is necessary to define and understand offense. The term offence has been defined by s 3(38) of General Clauses Act, as any act or omission made punishable by any law for the time being...

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Withdrawn of Application- After Admission – NCLT – INSOLVENCY CODE

Parker Hannifin India Private Limited v/s Prowess International Private Limited (NCLT Kolkata) - NCLT has cleared that once a petition is admitted by the NCLT under IBC, both the parties have no right to withdraw the petition. As it can say IBC is not a Recovery Law it is Revival Law....

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NCLT can allow Compounding of offence despite advanced stage of prosecution

Teamasia Semiconductors (India) Ltd. & Ors., In re (National Company law Tribunal Hyderabad) - the issue to be decided in the present case is whether the National Company Law Tribunal is having power to allow the applicants to compound the offence in question, especially when prosecution was already initiated and the same is in advance stage....

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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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Summary of MCA Notifications issued during June 2017

No. I-27011/2/2017-Coord. - Three notifications under section 462 of the Companies Act, 2013[CA-13] have been issued after laying of such notifications in draft form before both houses of These notifications provide exemptions from the provisions of the CA-13 to respective companies (viz. Private companies, Government companie...

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Companies (Meetings of Board and its Powers) Second Amendment Rules 2017

F. No.1/32/2013-CL-V-Part - (13/07/2017) - (e) Any director who intends to participate in the meeting through electronic mode may intimate about such participation at the beginning of the calendar year and such declaration shall be valid for one year :...

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National Company Law Tribunal (Amendment) Rules, 2017

G.S.R. ___ (E) - (05/07/2017) - "87A. Appeal or application under sub-section (1) and sub-section (3) of section 252. - (1) An appeal under sub-section (1) or an application under sub-section (3) of section 252, may be filed before the Tribunal in Form No. NCLT. 9, with such modifications as may be necessary....

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Companies (Appointment and Qualification of Directors) Amendment Rules, 2017

G.S.R.-(E). - (05/07/2017) - Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualification of Directors) Rules, 2014, namely: - 1. (1) These rules may be called the Companies (Appointment and Qualification of Directors) Amendment Rules, 2017....

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Amendment in Sch. IV of Companies Act 2013

G.S.R. 584 (E) - (05/07/2017) - Central Government hereby makes the following amendments to Schedule IV of the said Act, namely:- 2. In the Companies Act, 2013, in Schedule IV, -(i) in paragraph III, in sub-para (12), for the words acting within his authority, the words act within their authority shall be substituted;...

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Recent Posts in "Companies Act 2013"

Summary of exemptions to private companies under Companies Act, 2013

Exemptions to Private companies under Companies Act, 2013 in a nutshell is given below for ready reference of the Professionals. This article is written with an intention to give the readers a one page look at the exemptions to private companies under the Companies Act, 2013. I hope it proves to be useful to all […]...

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Posted Under: Company Law |

Summary of MCA Notifications issued during June 2017

No. I-27011/2/2017-Coord.

Three notifications under section 462 of the Companies Act, 2013[CA-13] have been issued after laying of such notifications in draft form before both houses of These notifications provide exemptions from the provisions of the CA-13 to respective companies (viz. Private companies, Government companies and charitable companies) as per recom...

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Amendment Companies Act, 2013- June-July, 2017

In this Flash editorial, the author referring amendment (i.e. in Rules, Sections, Circulars, Notifications) issued by Ministry of Corporate Affairs in the Month of June – July, 2017. This is article no. 246 of the series of editorials written by the author on corporate laws...

Read More
Posted Under: Company Law |

13 FAQ’s On Merger and Amalgamation

Which companies are allowed to merge? Companies Act, 2013 does not prescribe any eligibility requirements of companies for the merger. However, it prescribes several questions which will be answered in further lines. ...

Read More
Posted Under: Company Law |

SPICe Simplified Proforma For Incorporating Company Electronically

Ministry of corporate affairs came up with the new concept that incorporation of a new company with in one day. It is simplified procedure (SINGLE WINDOW FORM) to incorporate new company with Name reservation, DIN, PAN, TAN & CIN. In global scenario Now, It is easy way to startup business within single day....

Read More
Posted Under: Company Law |

Companies (Meetings of Board and its Powers) Second Amendment Rules 2017

F. No.1/32/2013-CL-V-Part (13/07/2017)

(e) Any director who intends to participate in the meeting through electronic mode may intimate about such participation at the beginning of the calendar year and such declaration shall be valid for one year :...

Read More

Entrenchment of Article of Association under Section 5 of CA 2013

Entrenchment of Article of Association is required in case where we want to specifically enforce the applicability of certain actions, which cannot be overridden until and unless supported by supermajority or a referendum or in order to protect the interest of minority shareholders, where the consent of minority party is required to overr...

Read More
Posted Under: Company Law |

Brief Overview of Secretarial Audit

Secretarial audit defined under Companies Act, 2013. It is Compliance of various applicable laws under companies act or any other act, rules, regulation and Procedure. Secretarial audit will be helpful to the Promoters, Independent & Non- Independent Directors, government authorities & regulators, Investors, stakeholders, Creditors and ma...

Read More
Posted Under: Company Law |

Revival of ‘Struck’ Companies under Companies Act, 2013

In this Flash editorial, the author begins by referring the provisions of section 248(1) of Companies Act, 2013 relating to Power of Registrar to remove name of company from register of companies and provisions of section 252 relating to REVIVAL OF COMPANIES STRUCK off from the record of the Registrar....

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Posted Under: Company Law |

Revival/ Restoration of Struck -Off Companies U/S 252 By NCLT

In this article, it is specifically discussed about the Revival/ Restoration of Struck off Companies under section 248 of the Companies Act (the Act) under Section 252 of the Companies Act, 2013 read with National Company Law Tribunals Rules, 2016 (As amended till 05-07-2017) by making an appeal to Tribunal....

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Posted Under: Company Law |
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