Company Law

Reopening and Recasting of accounts of Company

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...

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Events leading to Closure of Company under Companies Act 2013

In 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 […]...

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Responsibilities of CFO/CEO Under Companies Act & SEBI Regulations

Responsibilities 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 ...

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FAQs on Indian Subsidiary and Company Registration in India

Article 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...

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How to Register a Private Limited Company in India?

Article 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....

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Important points to be kept in mind while Filing E-Forms on MCA Portal

Important 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...

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Relax additional fees & extend last date of filing various e-forms: ICSI

ICSI 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 (...

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Invitation of Nominations for National CSR Awards 2020

Ministry 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....

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NFRA founds Issues in statutory audit of IL&FS done by Deloitte

NFRA 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....

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Sanctioned for prosecution given to 366 cases in violation of CSR norms

Whenever 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 ...

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Karnataka HC explains disqualification of directors | Section 164(2)

Yashodhara 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 ...

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Cyrus mistry won case against tata sons in NCLAT

Cyrus 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....

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Proviso to Section 167(1)(a) mandating Vacation of Directorship is valid: HC

G. 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...

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Delhi Court convicts a Director for holding Directorship of More than 20 Companies

Registrar 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....

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Section 164(2)- Disqualification of directors not deactivate or cancel DIN

Mukut 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...

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Amended requirement of Appointing CS & Secretarial Audit Report

MCA 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 ...

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Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020

Notification 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...

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Form BEN-2 Date Extended to 31.03.2020

General 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....

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Last date of filing of CRA-4 (cost audit report) extended to 29.02.2020

General 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...

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CRA-4 cost audit report due Date Extended to 29.02.2020

General 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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Recent Posts in "Company Law"

Reopening and Recasting of accounts of Company

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 More
Posted Under: Company Law |

Events leading to Closure of Company under Companies Act 2013

In 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 More
Posted Under: Company Law |

Important points to be kept in mind while Filing E-Forms on MCA Portal

Important 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 More
Posted Under: Company Law |

Responsibilities of CFO/CEO Under Companies Act & SEBI Regulations

Responsibilities 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 More
Posted Under: Company Law |

FAQs on Indian Subsidiary and Company Registration in India

Article 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 More
Posted Under: Company Law |

How to Register a Private Limited Company in India?

Article 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 More
Posted Under: Company Law |

Checklist to change registered address of company from one state to another

Checklist/Guidelines for change of registered address of the company from one state to another Applicable Sections under Companies Act 2013 – Section 4 (Memorandum), Section 12 (Registered Office of the Company) Section 13 (Alteration of Memorandum of Association) Applicable Rule under Companies (Incorporation) Rules, 2014 – Rule 30 (...

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Posted Under: Company Law |

Karnataka HC explains disqualification of directors | Section 164(2)

Yashodhara 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 said provision violate Article […...

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Compounding of offences under Companies Act 2013 | Section 441

Defaults under the Companies Act, 2013 provides for certain liabilities and the registrar of a company has powers to initiate prosecution against the company and its directors and other officers in accordance with the provisions of the law. When a provision has been violated or a default or delay has occurred, the directors may, instead [...

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Posted Under: Company Law |

FORM INC20A : Truly a Business Commencement

Under the erstwhile Companies Act, 1956, a Private Limited Company could start its business immediately upon receipt of a Certificate of Incorporation from the concerned Registrar of Companies. However Public Companies were required to obtain a Business Commencement Certificate before commencement of business pursuant to Section 149 of th...

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Posted Under: Company Law |

Company Law News India

Corporate law also known as the company law is the study of how the directors, shareholders, creditors, employees and other participants in the community, consumers, and the environment work together with each other. Company law deals with organizations which are registered or incorporated under the Indian company law. The latest Companies Act is the Act which controls the incorporation of companies, responsibilities of companies, directors and laws relating to dissolution of any company. The newly constituted Companies Act 2013 is divided into twenty-nine chapters comprising 470 with 7 schedules. This Act replaced the previous Companies Act, 1956 on August 29th, 2013. The newly constituted Act came into action on September 12th, 2013 with number of changes. At Taxguru, we provide all the latest news relating to company law in India. Our portal is designed for alerting you on all the latest developments in the company law. We provide all the key cases, help, and guidance on all facets of company law. Get to know about all significant changes in the Indian corporate laws with our comprehensive and the latest company law news. Our panel of experts offers in-depth analysis and understanding of the corporate and allied laws. At Taxguru, we cover everything from regulations for LLPs to changes in the corporate governance, M&A and Takeover Code, SEBI reforms, exchange controls and commercial arbitration. Tune in to find out more about the corporate laws and all the key developments.