MINUTES Governing provisions: Section 118 of Companies Act, 2013 read with Secretarial Standard-1 and Secretarial Standard-2. As per the provisions of Section 118- Every company shall observe Secretarial Standards with respect to General and Board meetings (including Committee Meeting – as per explanation to Secretarial Standards) specified by the Institute of Company Secretaries of India. […]
Note on form of organization – LLP and Company and its basic compliance requirements LLP: Limited liability partnership is a simple combination of Company and Partnership firm limiting the liability of partners to the capital contributed and governed by LLP Agreement. It has only 2 annual compliance requirement and any other change in objects, change […]
Appointment of auditor to fill casual vacancy Provisions applicable: Section 139(8), Section 140 (2) and Rule 8 of Companies (Audit and Auditor) Rules, 2014. This article covers scope of appointment of auditor in case of casual vacancy except in the case of Comptroller and Auditor General of India and sample formats thereto. Instances of casual […]
The Company post incorporation can change its name under the following circumstances: (a) Conversion of name from private to public, or (b) Conversion of name from public to private, or (c) Change of name from ABC limited to XYZ limited. (d) Any other mode of restructuring as permitted under Companies Act. Under a given article, we […]
Format of resolution for various bank operations: In general parlance, we come across various banking transactions such as -Opening of Bank Account -Change in Signatories -Obtaining Internet Facilities -Obtaining facility of Merchant Banking -Closure of Bank Account Here, we present sample formats of resolutions for day to day banking operations which may be modified subject […]
CORPORATE SOCIAL RESPONSIBILITY (CSR) – STANDARD OPERATING PROCEDURE (SOP) CSR – Corporate Social Responsibility Governing provisions: Section 135 of Companies Act, 2013 read with The Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended thereto. Important definition/terms: 1. Threshold limits of the previous financial year a) Net worth =/exceeding Rs.500 Cr b) Turnover =/exceeding Rs.1,000 […]
Process of verification of registered office and change of registered office within the same city Provisions applicable: Section 12 of Companies Act, 2013 read with rules made thereunder Process of filing of information of notice of registered office after incorporation and changes thereafter: Basically, the companies act specifies on mandatory registered office address to be […]
Compliance Calendar on regular filings for Financial Year (FY) 2020-21 under Companies Act 2013 Presenting on brief compliance Calendar on regular filings for financial year 2020-21 under Companies Act 2013, however, the same differs to each entity depending upon applicability of provisions and corporate actions undertaken by the company. S.No Form Nature of filing Compliance […]
Companies Fresh Start Scheme, 2020 The MCA vide its circular dated 30th March 2020 has issued Companies Fresh Start Scheme, 2020 to promote defaulting companies to make a fresh start on a clean slate and waive the additional fee as charged under section 403 of Companies Act, 2013 which is applicable on certain forms to […]
SEBI vide its circular dated August 07, 2019 have asked for additional disclosure w.r.t. encumbrance of shares by promoter of listed companies along with PAC, the detailed reason to be specified. The said circular will come into effective from October 1, 2019. Applicability: Combined encumbrance by Promoter + PAC is equal or exceeds 50% of […]
