How to apply for Incorporation of Company with Foreign Subscribers, without violating the Rule 13 of the Companies (Incorporation) Rules, 2014? Solution: Rule 13 provide manner of signing of MOA & AOA. Like: in case of foreign subscribers MOA & AOA should be notary in the country of origin, apostillised, authenticated by a Diplomatic or Consular Officer empowered, which is not possible in case of e-MOA and e-AOA. Because an electronic form can’t be notarized, appltillized etc.
The SPICE form was introduced with a function to prepare e-Moa & e-Aoa (Electronic MOA/ AOA). This facility is first time providing by the Ministry in the history of India for Incorporation of Company via this attribute there is no opportunity to prepare the manual MOA & AOA and no option to physically sign the MOA & AOA by subscribers and witness
W.e.f. 15.12.2016 matters of Compromises, Arrangements & Amalgamations by Companies will be dealt under Companies Act, 2013 & rules
Merger is a restructuring tool available to Indian conglomerates aiming to expand and diversify their businesses for various reasons whether it is to gain competitive advantage, reduce costs or unlock values.
Proceedings relating to following shall stand transferred to Benches of the NCLT Tribunal- Arbitration, Compromise, Arrangements and Reconstruction
The MCA came through Notification dated 5th September, 2016 effective from 7th September, 2016 rules for IEPF such rules called Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.
In terms of Gazette Notification No 2652 dated November 08, 2016 issued by Government of India, Rs. 500 and Rs. 1,000 denominations of Bank Notes of the existing series issued by Reserve Bank of India shall cease to be legal tender with effect from November 9, 2016, to the extent specified in the Notification.
Standing Committee on Finance presented most awaited 37th Report on Companies (Amendment) Bill, 2016. The Standing Committee considered and adopted this report at their sitting held on 30th November, 2016.
The recently cleared amendment to Benami Transaction (Prohibition) Amendment Act, 2016 indicates the resolve of the Government of India to control the menace of black money and its by-product Benami transactions with the new stringent law and its effective implementation.
Whether holding of adjourned AGM after expiry of period mentioned in section 96 is compliance of provisions of section 96 or not. Some people holds a view that holding of AGM with in time and then adjournment of meeting and holding of adjourned meeting after expiry of time as prescribed u/s 96 is compliance of section 96.
