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Article explains What is meant by reopening and recasting of accounts under Companies Act, 2013, who can apply for reopening of accounts, Punishment and Compoundability, Grounds on which application for reopening of accounts can be made and Duration for which revision is permitted. Section 130 read with section 131 are newly inserted prov...
Read MoreIn India, out of the total 18,94,146 registered companies, 6,83,317 have closed down as on May 2019 as per report released by Ministry of Corporate Affairs. A company when incorporated had a vision to run its business and to contribute to Indian Society. All the Companies in India as we already know are regulated by […]...
Read MoreResponsibilities of CFO/CEO Under Companies Act, 2013 & SEBI (LODR) Regulations, 2015 The definition of the term Key Managerial Personnel is contained in Section 2(51) of the Companies Act, 2013. The said Section states as under: “key managerial personnel”, in relation to a company, means— (i) the Chief Executive Officer or the ...
Read MoreArticle answers some of FAQs on Indian Subsidiary and Company Registration in India for a non-resident or a foreigner wanting to get started with company registration in India? Here we have made a compilation of the Most Frequently Asked questions. Q1) We are a company operating outside India. Can we start a business in India [&hellip...
Read MoreArticle explains How to Register a Private Limited Company in India and also answers some of the FAQs related to Private Company Registration in India under Companies Act, 2013....
Read MoreImportant points to be kept in mind while Filing E-Forms on MCA Portal 1. Select correct category to download e-Form for respective services, Like Form MGT-7 For Annual Return. 2. Ensure that latest version of the e-forms has been downloaded from the MCA Website. 3. Before filling of e-forms, the professional should go through the [&helli...
Read MoreICSI requests Ministry of Corporate Affairs for Relaxation of additional fees and for extension of last date for filing of various e-forms under the Companies Act, 2013 vide its letter dated 27th December 2019. THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (...
Read MoreMinistry of Corporate Affairs, Government of India has instituted National Corporate Social Responsibility (CSR) Awards to recognize companies that have made a positive impact on the society through their innovative & sustainable CSR initiatives....
Read MoreNFRA has issued Audit Quality Review report of the statutory audit for year 2017-18 of IL&FS Financial Services Limited. The statutory auditor for this engagement was Deloitte Haskins and Sells LLP....
Read MoreWhenever any violation of Corporate Social Responsibility (CSR) provisions is reported, action against such non-compliant Companies are initiated as per provisions of Companies Act, 2013 after due examination of records. So far, sanction for prosecution has been accorded in 366 cases. All CSR related offences are compoundable. So far 118 ...
Read MoreYashodhara Shroff Vs. Union of India (Karnataka High Court) - Yashodhara Shroff Vs. Union of India (Karnataka High Court) (a) It is held that Section 164(2)(a) of the Act is not ultra vires Article 14 of the Constitution. The said provision is not manifestly arbitrary and also does not fall within the scope of the doctrine of proportionality. Neither does the ...
Read MoreCyrus Investments Pvt. Ltd. Vs Tata Sons Ltd. & Ors. (NCLAT) - The proceedings of the sixth meeting of the Board of Directors of ‘Tata Sons Limited’ held on Monday, 24th October, 2016 so far as it relates to removal and other actions taken against Mr. Cyrus Pallonji Mistry (11th Respondent) is declared illegal and is set aside....
Read MoreG. Vasudevan Vs Union of India (Madras High Court) - G. Vasudevan Vs Union of India (Madras High Court) Section 167 of the Companies Act as stated earlier gives instances where the office of a Director shall become vacant. Section 167(1)(a) states that if a Director incurs any disqualification specified in Section 164, then he vacates his seat as a Th...
Read MoreRegistrar of Companies Vs Sh. Roop Kishore Madan (Tis Hazari Court, Delhi) - Under the Rule 16 of The Companies (Appointment and Qualification of Directors) Rules 2014, the accused has the responsibility being Director to forward to the Registrar copy of resignation along with the applicable fees in Form DIR-11 within 30 days of such resignation....
Read MoreMukut Pathak & Ors. Vs. Union of India and Anr (Delhi High Court) - On analysing section 164(2) it was concluded that the same operates prospectively and a director would not demit office in terms of Section 167(1) of the Companies Act, 2013 on account of a disqualification incurred under Section 164(2) for conduct prior to the amendments to the Act introduced fro...
Read MoreMCA Notification dated January 3, 2020 w.r.t. amendment in requirement of Appointment of CS & Secretarial Audit Report - (06/01/2020) - Ministry of Corporate Affairs (MCA) had vide notification dated January 03, 2020 notified Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020 and amended the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Following are the glimpse of ...
Read MoreNotification No. F. No. 01/05/2013-CL-V-Pt-I - (03/01/2020) - Brief provision of applicability of Secretarial Audit Report with amendment in rules vide Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020 The applicability of the Secretarial Audit is on the bigger Companies as per the Section 204(1) of the Companies Act, 201...
Read MoreGeneral Circular No. 1/2020 - (01/01/2020) - It is hereby informed that the time limit for filing e-form No.BEN-2 is extended upto 31.03.2020 without payment of additional fee and thereafter fee and additional fee shall be payable....
Read MoreGeneral Circular No. 17/2019 - (30/12/2019) - General Circular No. 17/2019- Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2018-19, without payment of additional fee, has been further extended till 29.02.2020. General Circular No. 17/2019 F.No. 52/50/CAB/2019 GOVERNMENT OF INDIA MINISTRY OF CO...
Read MoreGeneral Circular No. 17/2019 - (30/12/2019) - Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2018-19, without payment of additional fee, has been further extended till 29.02.2020....
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Yashodhara Shroff Vs. Union of India (Karnataka High Court) -
