Summary of RBI measures proposed to be taken amid second wave of Covid-19 pandemic on May 05, 2021 The Reserve Bank of India (RBI) vide Governor’s Statement dated May 05, 2021 has announced certain measures proposed to be taken amid the second wave of Covid-19 pandemic. The details of the proposed measures have been summarised […]
Relaxation from compliance with certain provisions of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015 (‘LODR’) due to the Covid-19 pandemic 1. On account of various representations made by listed entities, professional bodies, industry associations, market participants etc. requesting extension of timelines due to ongoing second wave of the Covid-19 pandemic, SEBI videits Circular No. […]
As per Section 128 of the Companies Act, 2013 (Act), every company shall prepare and keep at its registered office books of account, other relevant books and papers and financial statement for every financial year which give a true and fair view of the state of the affairs of the company, including that of its branch office or offices, if any, and explain the transactions effected both at the registered office and its branches and such books shall be kept on accrual basis and according to the double entry system of accounting.
I] An understanding on MSME: MSMEs are an important sector for the Indian economy and have contributed immensely to the country’s socio-economic development by generating employment opportunities and development of entrepreneurship. Categorization of MSMEs to be based on composite criterion of Investment and turnover, same is as under (w.e.f. July 01 2020): Classification Criterias Micro […]
I] Private Limited Company – An understanding -Private Company is defined U/s 2(68) of the Companies Act, 2013 (Act) -Private Company means a company having a paid-up share capital and which, by its Articles of Association (Articles/AOA): Restricts the right to transfer shares Limits the number of members to two hundred (200), except in case […]
Relaxation of additional fees and extension of last date for filing Cost Audit Report (Form CRA-4) for the Financial Year 2019-20 under the Companies Act, 2013 (Act): Applicability of Cost Records: The class of Companies which must maintain cost records is specified in the Section 148 (1) of the Act. The category of companies is […]
Extension for a period of 3 months for holding of Annual General Meeting (AGM) for the financial year ended March 31, 2020. As per Section 96 (1) of the Companies Act, 2013 every company other than a One Person Company shall in each year hold an Annual General Meeting, and a gap between the 2 […]
