Company Law

Implications of Companies (Amendment) Act, 2019

Amendments introduced in Companies Act, 2013 through Companies (Amendment) Act, 2019, along with their implications In a developing Country like INDIA, Laws and Legislatures plays a crucial role in maintaining the democracy. Since past few decades, the Indian Population has shifted its lenience from agricultural sector to Industrial and o...

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Private Companies Exemptions Under the Companies Act, 2013

AS PER THE PROVISIONS OF THE COMPANIES ACT 2013 SL NO. SECTION/RULES APPLICABILITY ANALYSIS 1.       Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 (Dematerialization of Shares) Every unlisted public company shall – (a) Issue the securities only in dematerialized form; and (b) Facilitate dematerializa...

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Nidhi Amendments Rules, 2019- Analysis

Nidhi Amendments Rules, 2019 were notified by MCA on 01st July 2019 and are effective from 15th August 2019. Vide this notification MCA inserted Rule 3A. Declaration of Nidhis, Rule 23A. Compliance with rule 3A by certain Nidhis and 23B. Companies declared as Nidhis under previous company law to file Form NDH-4 in Nidhi rules, […]...

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Companies (Share Capital and Debentures) Amendment Rules, 2019- Analysis

Recently, The Ministry of Corporate Affairs came up with a notification dated 16th August, 2019 pursuant to which the Central government notifies the Companies (Share Capital And Debentures) Amendment Rules, 2019 to further amend the Companies (Share Capital and Debentures) Rules, 2014:- 1. In Rule 4, in sub-rule (1) of Companies (Share C...

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Corporate Social Responsibility | Companies Act 2013 | Section 135

1.  Section 135 of the Companies Act, 2013 pertaining to Corporate Social Responsibility (CSR) is applicable to all Companies during the immediately preceding financial year having: Net profit before tax of Rs. 5 Crore or more or Networth of Rs. 500 Crore or more or Turnover of Rs. 1,000 Crore or more 2. In this […]...

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Simplification of process of Incorporation of Section 8 Companies

1) With a view to simplify the process for incorporating Section 8 Companies, requirement of prior filing of INC-12 for new section-8 companies is being dispensed with vide the Companies(Incorporation) Sixth Amendment Rules, 2019 dated 7th June, 2019. 2) Henceforth, Section 8 Companies can be incorporated by either reserving names through...

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FM warns strictest action for not following Company Law Provisions

Smt. Nirmala Sitharaman- Minister of Finance and Corporate Affairs moves the Companies (Amendment) Bill, 2019 for consideration in the Rajya Sabha. She replies to the debate on Companies (Amendment) Bill, 2019 in the Rajya Sabha. Gandhiji’s trusteeship principle is with which profit-making can not be devoid of social responsibility. The...

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MCA Updates on eForm DIR-3 KYC & LLP Forms

1. Please be aware that the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 have been notified w.e.f 25th July 2019. As per the said notification: i) eForm DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the […]...

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Resolve Technical issues in Form BEN-2- ICSI request MCA

SBO rules are not applicable to the extent the share of the reporting company is held by its holding reporting company under Rules 8 (b) of the Companies (Significant Beneficial owners) Rules, 2018. However, in such cases, the subsidiary company has to report the details of such holding reporting company Form No. BEN-2....

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Pre-requisites for submission of NFRA-1 form

During the process of submitting NFRA-1 form, user needs to have following details/documents before proceeding with form filling. In case of Indian Body Corporate: 1. PAN of Indian authorized individual 2. PAN of body corporate 3. DIN of Director/Membership No. of CS/PAN of Manager or CEO or CFO 4. Income tax PAN of auditor/audit firm [&h...

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Not to count Voting % of absent Financial Creditors to count voting shares: NCLAT

IDBI Bank Limited Vs Mr. Anuj Jain (National Company Law Appellate Tribunal) - IDBI Bank Limited Vs Mr. Anuj Jain (National Company Law Appellate Tribunal) As the voting is on, which is likely to be completed today by 5.00 p.m., we are not inclined to pass any specific order in the present I.A. No. 1857 of 2019 filed by the ‘IDBI Bank Limited’. After voting the decision if...

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NCLAT order allowing re-opening of books and re-casting of financial statements of IL&FS valid: SC

Hari Sankaran Vs Union of India & amp (Supreme Court of India) - Hari Sankaran Vs Union of India & amp (Supreme Court of India) Civil Appeal No. 3747 of 2019 titled Hari Sankaran vs. Union of India & Others filed by Ex-Director of Infrastructure Leasing & Financial Services Limited before the Apex Court has been dismissed by the Hon’ble Cour...

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NCLAT directs Liquidator’ to proceed in accordance with law

S.C. Sekaran Vs Amit Gupta & Ors. (NCLAT) - S.C. Sekaran Vs Amit Gupta & Ors. (NCLAT) Learned counsel appearing on behalf of the ‘Liquidator’, on instructions from the ‘Liquidator’, who is present, submits that the ‘Liquidator’ will ensure that both the companies remain going concern and if so necessary, he will take appropria...

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Company law not Stipulate any period for completion of Serious Fraud Investigation

Serious Fraud Investigation Office Vs Rahul Modi and Another Etc. (Supreme Court of India) - SFIO Vs Rahul Modi (Supreme Court of India) 1. Leave granted. 2. These Appeals challenge the correctness of the common interim order dated 20.12.2018 passed by the High Court of Delhi at New Delhi in Writ Petition (Crl.) Nos.3842 and 3843 of 2018. 3. In exercise of powers conferred by Section 212(1)...

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Statutory dues for taxes is Operational Debt: NCLAT

Pr. Director General of Income Tax Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT, Delhi) - Pr. DGIT Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT, Delhi) ‘Operational Debt’ in normal course means a debt arising during the operation of the Company (‘Corporate Debtor’). The ‘goods’ and ‘services’ including employment are required to keep the Company (‘Corporat...

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IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019

Notification No. G.S.R. 571(E) - (14/08/2019) - These rules may be called the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019....

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MCA notifies Sections of Companies (Amendment) Act, 2019

S.O. 2947(E) - (14/08/2019) - MCA notifies certain Sections of the Companies (Amendment) Act, 2019 The Companies (Amendment) Act, 2019 contains: 1. All provisions introduced by The Companies (Amendment) Ordinance, 2018. (Dated 02.11.2018) 2. All provisions introduced by The Companies (Amendment) Ordinance, 2019. (Dated: 12.01.20...

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Companies (Share Capital and Debentures) Amendment Rules, 2019

G.S.R. 574(E) - (16/08/2019) - (1) These rules may be called the Companies (Share Capital and Debentures) Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette....

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Companies (Amendment) Act, 2019

NO. 22 OF 2019 - (31/07/2019) - (1) This Act may be called the Companies (Amendment) Act, 2019. (2) The provisions of this Act, except sections 6, 7 and 8, clauses (i), (iii) and clause (iv) of section 14, sections 20 and 21, section 31, sections 33, 34 and 35, sections 37 and 38 shall be deemed to have come into force on the 2nd ...

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Time limit for filing e-form No. BEN-2 extended upto 30.09.2019

General Circular No. 08/2019 - (29/07/2019) - Time limit for filing e-form No. BEN-2 is extended upto 30.09.2019 without payment of additional fee and thereafter fee and additional fee shall be payable. General Circular No. 08/2019 F. No. 01/01/2018-CL-V GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor, ‘A’ Wing Shastri Bhawan, D...

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Recent Posts in "Company Law"

Implications of Companies (Amendment) Act, 2019

Amendments introduced in Companies Act, 2013 through Companies (Amendment) Act, 2019, along with their implications In a developing Country like INDIA, Laws and Legislatures plays a crucial role in maintaining the democracy. Since past few decades, the Indian Population has shifted its lenience from agricultural sector to Industrial and o...

Read More
Posted Under: Company Law |

Private Companies Exemptions Under the Companies Act, 2013

AS PER THE PROVISIONS OF THE COMPANIES ACT 2013 SL NO. SECTION/RULES APPLICABILITY ANALYSIS 1.       Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 (Dematerialization of Shares) Every unlisted public company shall – (a) Issue the securities only in dematerialized form; and (b) Facilitate dematerializa...

Read More
Posted Under: Company Law |

Nidhi Amendments Rules, 2019- Analysis

Nidhi Amendments Rules, 2019 were notified by MCA on 01st July 2019 and are effective from 15th August 2019. Vide this notification MCA inserted Rule 3A. Declaration of Nidhis, Rule 23A. Compliance with rule 3A by certain Nidhis and 23B. Companies declared as Nidhis under previous company law to file Form NDH-4 in Nidhi rules, […]...

Read More
Posted Under: Company Law |

IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019

Notification No. G.S.R. 571(E) (14/08/2019)

These rules may be called the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019....

Read More

Companies (Share Capital and Debentures) Amendment Rules, 2019- Analysis

Recently, The Ministry of Corporate Affairs came up with a notification dated 16th August, 2019 pursuant to which the Central government notifies the Companies (Share Capital And Debentures) Amendment Rules, 2019 to further amend the Companies (Share Capital and Debentures) Rules, 2014:- 1. In Rule 4, in sub-rule (1) of Companies (Share C...

Read More
Posted Under: Company Law |

Corporate Social Responsibility | Companies Act 2013 | Section 135

1.  Section 135 of the Companies Act, 2013 pertaining to Corporate Social Responsibility (CSR) is applicable to all Companies during the immediately preceding financial year having: Net profit before tax of Rs. 5 Crore or more or Networth of Rs. 500 Crore or more or Turnover of Rs. 1,000 Crore or more 2. In this […]...

Read More
Posted Under: Company Law |

National Financial Reporting Authority Rules

National Financial Reporting Authority Rules National Financial Reporting Authority is a body proposed in Companies Act, 2013 for the establishment and enforcement of accounting and auditing standards and oversight the work of auditors. Which Body Corporates will be covered by NFRA ? The Authority shall have power to monitor and enforce c...

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Posted Under: Company Law |

Section 135 of Companies Act, 2013- New compliance regime

A mandatory community social service as per Section 135 of The Companies Act, 2013 with penal implications for non compliance Eligibility Criteria Every Company having: a) A net worth of Rs. 500 crore or more OR b) Annual turnover of Rs. 1000 crore or more OR c) A net profit of Rs 5 crore or […]...

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Posted Under: Company Law |

MCA notifies Sections of Companies (Amendment) Act, 2019

S.O. 2947(E) (14/08/2019)

MCA notifies certain Sections of the Companies (Amendment) Act, 2019 The Companies (Amendment) Act, 2019 contains: 1. All provisions introduced by The Companies (Amendment) Ordinance, 2018. (Dated 02.11.2018) 2. All provisions introduced by The Companies (Amendment) Ordinance, 2019. (Dated: 12.01.2019) 3. All provisions introduced by The ...

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Summary of Changes in Equity shares with differential rights

Summary of Changes in Equity shares with differential rights after Amendment dated 16.08.2019 MCA issued a notification dated 16.08.2019, to amend the Companies (Share Capital and Debentures) Rules, 2014, which shall come into force on the date of their publication in the Official Gazette. The Aim of the government has relaxed norms for s...

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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.