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Resolutions which require Special Notice | Section 115 | Companies Act 2013

July 12, 2019 54570 Views 3 comments Print

Section 115 of the companies act 2013 provides that where, any provision contained in this Act or in the articles of a company, special notice is required of any resolution, notice of the intention to move such resolution shall be given to the company by such number of members holding not less than 1% of […]

Time for Filing Return of Significant Beneficial Owner in form BEN-2

July 11, 2019 4713 Views 0 comment Print

On the date of commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019, every individual who is a significant beneficial owner in a reporting company, shall file a declaration in Form No. BEN-1 to the reporting company within ninety days from such commencement.

Checklist for Filling BEN -2 Form

July 10, 2019 18582 Views 0 comment Print

Checklist for Filling BEN -2 Form under Companies Act, 2013 read with relevant  rules 1. The disclosures to be made by the individuals or entities holding 10% or more shares or voting power in any company is very comprehensive in nature and encompasses holdings not only in a company but also in any other entity […]

Annual General Meeting of Company and Its Features

July 10, 2019 51252 Views 1 comment Print

Annual General Meeting (AGM) is a meeting conducted by every Private Limited Company or Limited Company that provides an opportunity to the shareholders to meet every year and discuss matters relating to the Company. The AGM ensures the interest of the shareholders is protected.

Highlights of Budget 2019

July 5, 2019 1053 Views 0 comment Print

The first budget of Modi government is present today by Nirmala Sitharaman following are the top 100 highlights of budget 1. No income tax for less than 5 lakh per annum income 2. 3% Increase in surcharge for individuals with incomes between 2 to 5 cr. 7% increase in surcharge for incomes above 5 cr […]

Clarification on BEN -2 FORM

July 4, 2019 70161 Views 9 comments Print

Eform BEN-2 is required to be filed pursuant to Pursuant to Section 90(4) of the Companies Act, 2013 and Rule 4 of the Companies (Significant Beneficial Owners) Rules 2018, which are reproduced for your reference. Section 90(4): Every company shall file a return of significant beneficial owners of the company and changes therein with the […]

How to determine whether SBO exist?

July 4, 2019 5595 Views 0 comment Print

A Reporting Company can follow the below mention steps in order to ascertain, whether any SBO exist or not: 1. Check whether you have shareholders in form of Body Corporate/HUF/Partnership/LLP/Trust/PIV (“Indirect Entities”)? 2. If answer is no, then no reporting required. 3. If answer to (1) is Yes, check whether they hold 10% or more? […]

Revised Annual Return on Foreign Liabilities and Assets Reporting by Indian Companies (FLA RETURN)

June 28, 2019 5862 Views 0 comment Print

Revised Annual Return on Foreign Liabilities and Assets Reporting by Indian Companies As per regulation issued by RBI which stipulated that all Indian companies which have received FDI and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year, should file the annual return on Foreign Liabilities and Assets (FLA) in […]

Conversion of One Person Company to Private Limited Company

June 27, 2019 4809 Views 0 comment Print

The conversion of an OPC- One Person Company into Private Limited Company as per Section 18 of the Companies Act, 2013 and the provisions of Companies (Incorporation) Rules of 2014 should be discharged by a newly formed Private Limited Company. These rules will not affect the existing debts, liabilities, obligations or contracts of the OPC. […]

Power of Central (or State) Government to make rules under GST

June 27, 2019 3417 Views 0 comment Print

The Central Government (or the State Government) may, on the recommendation of the Council, make rules, including rules conferring the power to issue notifications with retrospective effect under those rules, to carry into effect the purposes of this Act. In particular, and without prejudice to the generality of the foregoing power, such rules may — […]

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