"29 March 2020" Archive

Lockdown period to be counted as being on articleship: ICAI

Those who are already registered and undergoing articled training, are hereby informed that the period of absence arising out of said lockdown due to COVID -19 pandemic shall not be counted for the purposes of deduction of any leaves, meaning thereby that such period shall be counted as being on articleship training for the period aforesa...

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Posted Under: CA, CS, CMA |

Certain crucial reporting under Auditor’s Report

There are certain provisions in the Companies Act, 2013 which every auditor is required to report with due and reasonable care considering the impact of such provisions over the Company’s Shareholder and Creditors and also looking after the consequences of its misreporting. In this regards the below stated provisions of the Companies Ac...

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Posted Under: CA, CS, CMA |

Compliance Guide of Your Online Business

It’s the era of e-commerce. Shopping websites are much more than just online shopping destinations. Many MSME Start-ups have started working through e-business mode. After you’ve evaluated your online store idea and have a plan for product sourcing, it’s highly recommended that you research any financial & tax related regulation...

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Posted Under: CA, CS, CMA |

MHA Order restricting movement of migrants & strict enforement of lockdown

F. No. 40-3/2020-DM-I(A) (29/03/2020)

Whereas, movement of a large number of migrants have taken place in some parts of the country so as to reach their home towns. This is a violation of the lockdown measures on maintaining social distance;...

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Constitution of Empowered Groups under Disaster Management Act 2005

F. No. 40-3/2020-DM-I(A) (29/03/2020)

The pandemic of COVID 19 has engulfed the entire world posing serious challenges for the health and economic security of millions of people worldwide. During this unprecedented situation for effectively addressing issues, constraints and scenarios, a well-planned and coordinated emergency response has become essential....

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Lockdown period shall not be counted for CIRP Activities: IBBI

Press Release No. IBBI/PR/2020/06 and Notification No. IBBI/2019-20/GN/REG059 (29/03/2020)

1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020. (2) They shall come into force on the 29th March, 2020....

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Consolidated Lockdown guidelines and migrant labourers

DO No. 40-3/2020-DM-I(A) (29/03/2020)

Ajay Bhalla, IAS Home Secretary Government of India North Block, New Delhi DO No. 40-3/2020-DM-I(A) Date : 29th March, 2020 Dear Kindly refer to my DO letter of even no 24th March 2020 wherein an Order dated 24.03.2020 under Section 10(2)(1) of the Disaster Management Act, 2005 along with lockdown measures to be taken by […]...

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Extra Ordinary General Meeting under Companies Act 2013

Extra Ordinary General Meeting Matters requiring immediate consideration by members, which cannot be deferred till next Annual General Meeting, to meet such emergencies, the companies can provide for holding of emergency meetings of the members which are known as Extra Ordinary General Meeting. Regulation 42 of Table F provides that all g...

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Posted Under: CA, CS, CMA |

Conversion of One Person Company to Private Company

Conversion of One Person Company to Private Company Q.1 Can OPC be converted into private limited company? A.1 OPC can be converted in to Private Limited after two years of setup, or even before that if its turnover is more than Rs 2 crore and paid share capital surpasses Rs 50 lakhs in a financial year, Q2. Can OPC be […]...

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Posted Under: CA, CS, CMA |

Key Tips For Entrepreneurs During This Crucial Face Of Economic Downturn- Coronavirus Pandemic

As we all know that we all are having a hard time due to the Coronavirus pandemic, most of the start-ups are hustling during the country-wide COVID-19 lockdown. In past, most of us must be thinking about the year 2020 will be going to be an epic time in terms of mass production and sales however, suddenly due to captioned pandemic the cou...

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Posted Under: CA, CS, CMA |