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Scheme For Relaxation of Time For Filing Charge Creation Forms

June 18, 2020 5253 Views 0 comment Print

The companies are required to file forms related to creation or modification of charges within the timelines provided in section 77 of the Companies Act, 2013, i.e. a total of 120 days of the creation or modification of charge.

Annual general meaning through video conferencing

May 8, 2020 1062 Views 0 comment Print

MCA vide circular dated 05th May, 2020 allowed the Companies to conduct their AGM through video conferencing during the calendar year 2020 (up to 31st December, 2020), subject to the fulfillment of the following requirements: A. For companies which are required to provide the facility of e-voting under the Act, or any other company which […]

Paragraph wise comparison of CARO, 2020 and CARO, 2016

February 29, 2020 4107 Views 0 comment Print

MINISTRY OF CORPORATE AFFAIRS (MCA) vide its Order dated February 25, 2020 substituted the Companies (Auditor’s Report) Order, 2016 by Companies (Auditor’s Report) Order, 2020 after consultation with the National Financial Reporting Authority (NFRA) constituted under section 132 of the Companies Act, 2013. It shall come into force on the date of its publication in […]

Major amendments for Indepenedent Director

February 18, 2020 8118 Views 0 comment Print

The Ministry of Corporate Affairs (MCA) has come with the following new notifications dated 22nd October, 2019 (effective from 31st December, 2019) for introduction of databank of Independent Directors (IDs) in accordance with the provisions of Section 150 of the Companies Act, 2013. A brief detail of the said notifications is detailed below: 1. Notification […]

Filing of Financial Statements by NBFCs (Ind AS)

February 10, 2020 21840 Views 6 comments Print

The Ministry of Corporate Affairs (MCA) has made certain amendments in Schedule III of the Companies Act, 2013 vide its notification dated 11th October 2018. Pursuant to the said notification, Division III has been inserted in respect of Financial Statements for a Non-Banking Financial Company (NBFC) whose financial statements are drawn up in compliance of […]

Amendmends in Prescribed Limits of Related Party Transactions

November 21, 2019 11199 Views 0 comment Print

MCA has notified the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019 vide notification dated 18th November, 2019 amended the criteria under which approval of shareholders are required for entering into related party transaction under Rule 15 of Companies (Meetings of Board and its Powers) Rules, 2014, namely:- 1. In sub-clauses (i) […]

Private Companies Exemptions Under the Companies Act, 2013

August 19, 2019 83436 Views 5 comments Print

AS PER THE PROVISIONS OF THE COMPANIES ACT 2013 SL NO. SECTION/RULES APPLICABILITY ANALYSIS 1.       Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 (Dematerialization of Shares) Every unlisted public company shall – (a) Issue the securities only in dematerialized form; and (b) Facilitate dematerialization of all its existing securities   Not […]

New Filing Portal for Annual Return on Foreign Liabilities & Assets (FLA)

July 4, 2019 52941 Views 6 comments Print

ANNUAL RETURN ON FOREIGN LIABILITIES AND ASSETS As per RBI/2010-11/427 A.P. (DIR Series) Circular No. 45 dated March 15, 2011, an Indian company which has received FDI and/ or made overseas investment in any of the previous year(s), including current year, shall submit form FLA Return to the Reserve Bank on or before the 15th […]

Acceptance of Deposits by Companies From Members

June 22, 2019 80598 Views 6 comments Print

Companies generally raise funds through issue of equity or preference shares, debentures, and commercial papers and inter corporate loans. Deposits are also one of the sources available to a company to raise funds to meet the short term or long term requirements of the company. In order to protect the interest of the depositors and […]

Common FAQ on Company Act, 2013

June 20, 2019 18387 Views 0 comment Print

FREQUENTLY ASKED QUESTIONS ON COMPANIES ACT, 2013 There are many confusions on provisions of Companies Act, 2013, so I am prepared some common frequently asked questions based on the interpretation of provisions of the Companies Act, 2013, the rules made there under as also the clarifications, notifications and orders issued by the Ministry of Corporate […]

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