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In this article author gives his views on the Consultation Paper with Justification to Examine the Existing Provisions of Law and Make Suitable Amendments therein to Enhance Audit Independence and Accountability...
Read MoreArticle explains How to Voluntarily Obtain Status of Dormant Company-Steps, Company Which can be declared Dormant By Registrar, Steps to apply for ACTIVE COMPANY Status by Dormant Company, Documents required for obtaining status of Dormant Company, Compliances to be done by a Company after Obtaining Status of Dormant Company and Companies...
Read MoreArticle explains How to appoint a director in producer company, grounds a director shall vacate the office of directorship in company, provisions of board meeting of producer company, important officers required to be appointed in producer company, Applicability of annual general meeting to Producer Company, Matters to be discussed and ...
Read MoreCopy of Financial Statement (defined under section 2(40) of the Companies Act, 2013 (‘the Act’) shall be sent to persons as envisaged under Section 136 of the Act. Section 136 also tells about the mode, time limit and other additional compliance related to same. This articles briefly elaborates Section 136 of the Act. Section ...
Read MoreAccording to MCA as part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs has notified & deployed a new Web Form Christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form. The Ministry of Corporate Affairs is replacing the existing SPICe (Simplified...
Read MoreICAI invites suggestions/comments from members on Consultation paper to examine the existing provisions of law and make suitable amendments therein to enhance audit independence and accountability by 12.00 Noon on 21st February, 2020. Also Read Here –MCA proposes amendments to enhance Audit Independence & Accountability 18th Feb...
Read MoreREDUCE COST AND TIME EASE OF DOING BUSINESS A Bouquet of Services with SPICE+ :- > Incorporation > DIN allotment > Issue of PAN > Issue of TAN > Issue of EPF, ESI Number > Allotment of GSTN (If selected) > Mandatory opening of Bank Account As a part of Government’s Ease of Doing Business […]...
Read MoreMCA has been taking various initiatives on continuous basis to provide less stringent regulations, including measures with respect to filing requirements for small companies, One Person Companies (OPCs) and start-ups. This was stated by Shri Anurag Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a qu...
Read MoreThe concept of Auditor independence requires the auditor to carry out his or her work freely, with integrity and in an objective manner. Though auditor is appointed by the shareholders, effective power of their appointment and dismissal lies with the management....
Read MoreRe-categorising 23 offences out of the 66 remaining compoundable offences under the Act, to be dealt with in the in-house adjudication framework wherein these defaults would be subject to a penalty levied by an adjudicating officer. In addition, the quantum of penalties recommended are lower than the quantum of fines presently provided in...
Read MoreJai Shankar Agrahari Vs Union Of India And Another (Allahabad High Court) - Allahabad High Court held thaty there is no provision which empowers ROC to de-activate DIN, only on the ground that a Director has incurred disqualification under Section 164(2) (a) or his Office has become vacant under Section 167(1) (a). It also quashes List of disqualified directors published by...
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 MoreNotification No. G.S.R. 127(E) - (18/02/2020) - MCA has released revised form No. GNL-2 vide Companies (Registration Offices and Fees) Amendment Rules, 2020. A Company can file certain documents with the Registrar of Companies by filing this e-Form GNL-2 and in case there is no e- Form prescribed for filing any document with Registrar, then compa...
Read MoreGeneral Circular No. 04/2020 - (17/02/2020) - Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016)....
Read MoreNotification No. G.S.R. 114(E) - (14/02/2020) - Nidhi (Second Amendment) Rules, 2020- In the Nidhi Rules, 2014, in rule 23A, for the words six months the words nine months shall be substituted....
Read More[File No. 1/21/ 2013-CL-V-part] [G.S.R. 111(E).] - (13/02/2020) - (1) These rules may be called the Companies (Issue of Global Depository Receipts) Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....
Read MoreAs we all know, on 6th February, 2020 Ministry of Corporate Affairs (MCA) has introduced a new process of incorporation of Companies via notifying Companies (Incorporation) Amendment Rules, 2020. As stated in Notification, it shall come in to Force from 15th February, 2020 onwards. I have segregat...
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