Company Law India: Read latest Company law news & updates, acts, circular, notifications & articles issued by MCA amendment in companies Act 2013. Article on Loans Company formation XBRL, Schedule VI IFRS.
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All Chambers of Commerce are requested to bring this to the notice of their constituent companies.
The enforcement of Section 80 of the Companies (Amendment) Act, 2000 – Postal Ballot – from 15.6.2001 – regarding.
S.O. 523(E).- In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2000 (53 of 2000), the Central Government hereby appoints the 15th day of June, 2001 as the date on which the provisions of section 80 of the said Act shall come into force.
General Circular No. 12/2001 informs about amendments to the Companies (Acceptance of Deposits) Rules, 2001, published in the Gazette of India on May 25, 2001.
The matter whether Directors appointed under Section 16(4) of the Sick Industrial Companies (Special Provisions) Act, 1985 by the Board for Industrial and Financial Reconstruction (Board) shall be liable to be disqualified under section 274(1)(g) of the Companies Act, 1956 has been examined in this Department in detail.
The government has amended the Companies (Acceptance of Deposits) Rules, reducing the maximum interest rate from 15% to 14% for company deposits.
The Companies (passing of the resolution by postal ballot) Rules, 2001.
In continuation of this Department’s General Circular No.12/2000 (issued vide letter No.1/6/2000-CL.V) dated 25th October, 2000, I am directed to say that the step 2 for implementation of Corporate Identity Number (CIN) provides that in a case if a company is operating in diverse fields, the economic activity as “00000” has to be assigned.
The board of directors shall appoint one scrutinizer, who is not in employment of the company, may be a retired judge or any person of repute who, in the opinion of the board can conduct the postal ballot voting process in a fair and transparent manner
The proper records shall be maintained for the products under reference showing the various items of expenses comprising the other overheads. These expenses shall be analyzed, classified and grouped according to functions, namely, works, administration, selling and distribution.
