The MCA has notified the commencement date of clause (i) of Section 23 of the Companies (Amendment) Act, 2017 (Notification No. S.O. 1066 (E), Dated March 05, 2021) The MCA has notified March 05, 2021 as the commencement date of provision of clause (i) of Section 23 of the Companies (Amendment) Act, 2017 which seeks […]
SEBI Press Release – SEBI Board Meeting (March 25, 2021) The SEBI Board met on March 25, 2021 where it, inter-alia, took the following decisions: Review of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 SEBI Board approved several amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, […]
Companies Act 2013 (Section wise fines & penalties) SL No. Section Matters Fines/penalties 1 Section 4(5) Reservation of Name – After reservation of name , if information given is not correct then: if the company has not been incorporated, the reserved name shall be cancelled and the person making application under sub-section (4) 1 lakh […]
The NCLAT observed that the Ministry of Corporate Affairs, General Circular dated August 21, 2019 has clarified that section 232(6) of Companies Act, 2013 enables the companies in question to choose and state in the scheme an ‘appointed date’. This date may be a specific calendar date or may be tied to the occurrence of an event such as grant of license by a competent authority or fulfilment of any preconditions agreed upon by the parties, or meeting any other requirement as agreed upon between the parties, etc., which are relevant to the scheme.
NCLT must give a reasonable opportunity of making representations and of being heard before passing an order, to the Registrar, the Company and all the persons concerned under Section 252 (1) of the Companies Act, 2013.
