In order to facilitate the Companies registered in India to make a fresh start on a clean slate and to give such an opportunity to defaulting Companies by enabling them to file the belated documents in MCA-21 registry, the Central Government has introduced a scheme namely Companies Fresh Start Scheme, 2020 (CFSS – 2020) condoning the delay in filing the forms.
PREFERENCE SHARES Meaning of Preference Shares: Preference Shares are not defined in the Definition part of the Companies Act, 2013. However it has been defined in Section 43 of the Companies Act, 2013 as below: Explanation (ii) to section 43 of the Companies Act, 2013 (‘the Act’) defines the term Preference Shares. “Preference Share Capital”, […]
Due date for filing DIR-3KYC [Companies (Appointment and Qualification of Directors) Amendment Rules, 2019] MCA has issued Companies (Appointment and Qualification of Directors) Amendment Rules, 2019 on 30.04.2019. By this amendment the Ministry has changed the due date from ’30th, April of immediate next financial year’ to ’30th June of immediate next financial year’. So […]
I. Meaning: Wholly owned subsidiary is an incorporated entity formed and registered under the Companies Act, 2013. It is a distinct legal entity, apart from its shareholders. II. Constitution: 1. Company form of organization 2. Separate legal entity III. Requirement of Prior Approval of RBI: Not required In case of FDI in sectors permitted under […]
1. INTRODUCTION: A Private Limited Company in India can raise the funds through various sources using different types of instruments. The widely used instruments in fund raising are Equity Shares and Preference Shares. Convertible notes are emerging concept in India but the same is allowed only to Startups recognized by Govt of India and upto […]
The MCA is constantly striving to find out and strike off the Companies which are only on the papers and defunct. In July, 2018 it came up with KYC of Directors to update its Directors database and now it came up with Companies (Incorporation) Amendment Rules, 2019 which is KYC to the Companies incorporated on […]
