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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The parties are not to blame for this creditor’s winding-up petition having lingered for an unnecessary length of time and there being a more protracted hearing than is ordinarily called for in a matter of this kind. It was only an observation of the court that led to a relatively innocuous matter being blown out of proportion upon the court considering it to be significant that subsequent to the present petition
The Ministry of Corporate Affairs vide its General Circular No. 16/2012 dated 6 July, 2012 has mandated select class of companies to file their Balance Sheet and Profit & Loss Account and other documents with the Registrar of Companies for the financial year commencing on or after 01.04.2011 in XBRL mode without any additional fee/ penalty upto 15th November, 2012 or within 30 days from the date of their AGM, whichever is later.
NOTIFICATION [F.NO. 17/161/2012 – CL.V], The following class of companies have to file their Balance Sheet. Profit and Loss Account and any other document as required under section 220 of the Companies Act, 1956 with the Registrar using the Extensible Business Reporting Language (XBRL) taxonomy given in Annexure II for the financial year commencing on or after 1st April, 2011 with e-Form No. 23AC-XBRL and 23ACA-XBRL specified under the Companies (Central Government) General Rules and Forms, 1956 namely:-
MCA Front offices situated at Delhi , Chennai , Mumbai and Kolkata are being discontinued with effect from Monday, the 8th of October, 2012 , and hence, will not be available to offer any assistance to MCA stakeholders. Kindly plan your activities accordingly.
Unfortunately, this court has failed to engage the respondents’ attention on such aspect of the matter despite several reminders in course of the hearing. Instead, the respondents have veered off course to emphasise on single-line orders of adjournment to impress that the settlement had never been worked out. But the settlement or the adequacy of the consideration for the transfer of shares is not germane to the issue.
The Final Validation Tool and subsequent XBRL filings of financial statements for F.Y. 2011-12 on MCA website would be enabled with effect from 14th October, 2012.
Voluntary Guidelines for Companies for providing general information on their websites about the company to promote good corporate governance and to enhance investors’ awareness
G.S.R (E) In the notification of the Government of India, Ministry of Corporate Affairs published in the Gazette of India vide G.S.R (E) dated 21st September, 2012 relating to amendment of the Companies (Central Governments) General Rules and Forms (6th Amendments Rules, 2012) for Forms 23AC and 23ACA, in page number 7, in table number C and page number 8, table number E. In the said Rules, for the word ‘to Directors’ appearing after the word loans and advances shall be substituted by word ‘by Directors.’
The Companies Bill, 2011, on its enactment, would allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of companies in the country, viz. the Companies Act, 1956 had been under consideration for quite long for comprehensive revision in view of the changing economic and commercial environment nationally as well as internationally.
The Ministry issued General Circular No.30/2012 Dated 28.09.2012, In order to ensure smooth filing and to avoid last minute rush, the due date of filing of e-forms 23AC(Non-XBRL) and 23ACA (Non XBRL) as per new schedule VI is extended in following manner without any additional fee :-
