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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I am directed to refer to the Ministry’s General Circular no. 14/2012 dated 21st June 2012 and to say that fees on Form 23B (Information by statutory auditor to the Registrar) has been deferred for two weeks and shall now be applicable from 5th August, 2012.
According to us for charging capital gains, the assets must have been acquired by incurring cost. In the instant case, the assessee has not incurred any cost for the acquisition of asset because the same was allotted to the assessee’s father by Government of India being refugee from Pakistan at relevant point of time.
A Notification vide No. G.S.R. 716(E). dated 23.09.2011 was issued, in view of the order of the Hon’ble High Court of Delhi dtd. 21.04.2011 in the matter of M/s. S.E. Investment Limited Vs Union Of India and Others {W.P. (c) 2393/2010 and CM Appl. 4794/2011}, the Hon’ble Court had inter alia held that there is no provision in Delhi Stamp Act for payment of stamp duty on Increased authorized share capital.
Companies (Central Government’s) General Rules and Forms (Fifth Amendment) Rules, 2012 – (Form 21 & 23) – In exercise of the powers conferred by sub-section (1) of section 642 read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Central Government’s) General Rules and Forms, 1956, namely: – 1. (1) These rules may be called the Companies (Central Government’s) General Rules and Forms (Fifth Amendment) Rules, 2012. (2) These rules shall come into force with effect from the 12th August, 2012. 2. In the Companies (Central Government’s) General Rules and Forms, 1956, in Annexure ‘A’,-
It has now been decided by the Ministry that all cost auditors and the concerned companies will be allowed to file their Cost Audit Reports and Compliance Reports for the year 2011-12 [including the overdue reports relating to any previous year(s)] with the Central Government in the XBRL mode, without any penalty, upto 31st December, 2012.
Imposing Fees on Certain E-Forms Filed with ROC, RD OR MCA(HQ) under MCA-21 Where at Present No Fee is Prescribed The Ministry of Corporate Affairs has decided to impose a certain amount of fee on the following forms at the rates indicated in the table below:- S.No. Form No. Particulars of the Form Fee […]
as per these rules, information is to be filed in Form 5 INV. The cut-off date for filing information in Form 5 INV refers to the date of AGM upto which the information relating to a particular year is to be updated and then filed. Example: for the financial year ended 31.03.2012, where date of AGM is 30.09.2012, the complete information regarding unpaid and unclaimed
Every statutory auditor appointed by the company in the Annual General Meeting under section 224(1) of the Companies Act, 1956 in form 23B has to intimate whether he has accepted the appointment or not to the concerned Registrar of Companies, within 30 days of the intimation received from the company by the auditor. Till date the form is uploaded free of cost and in lots of cases the auditors does not bother to file the form and intimate the concern ROC even it is free of cost procedure. While filling of Form 23AC where there is space for SRN of Form 23B, they used the SRN Z99999999 or any other SRN that does not exist.
Kindly note that the last date for filing the Form 23B without fee has been extended for two weeks. Fee shall be charged on any eForm 23B filed on or after 5th August, 2012. You are therefore advised to file the pending eForms within the time limit to avoid any last minute rush.
It is known that section 399 of the Companies Act, 1956 entitles minority shareholders, subject to the qualification prescribed, to approach the Company Law Board (CLB) under section 397/398 of the Companies Act, 1956 seeking relief against the ‘oppression and mis-management’ from the majority shareholders in the Company. As majority shareholders effectively controls the Board through their say in General Body Meetings, the protection to the majority is not envisaged though even the majority can approach the Company Law Board under section 397/398 of the Companies Act, 1956 when they become artificial minority under certain circumstances.
