Company Law

Companies Fresh Start Scheme, 2020 – Succinct View

(Notified vide General Circular 12/2020 dated 30/03/2020) COMMENCEMENT AND VALIDITY OF THE SCHEME: The Scheme shall commence from 01.04.2020 and shall be valid till 30.09.2020. APPLICABILITY: The Scheme shall apply on all Defaulting Companies except: i. Companies against which action for final notice for striking off the name of the compa...

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Procedure to alter Object Clause of MoA of a Private Company

Procedure for Alteration in the Object Clause of Memorandum of Association (MoA) of a Private Company Introduction: ♦ The object clause of the Company is the one of the most important clause of memorandum of association of any Company stating the objects i.e. the business/purpose for which the Company is incorporated and any other matte...

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Incorporation of Company -Form SPICE+

Application for Incorporation of Companies as per Chapter II The Companies (Incorporation) Rules, 2014 An application for registration of a company shall be filed, with the Registrar within whose jurisdiction the registered office of the company is proposed to be situated, in SPICe+ (Simplified Proforma for Incorporating company Electron...

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SPICE+ (SPICE PLUS)- New form for Company Registration

NEW MCA FORM FOR COMPANY REGISTRATION IN INDIA. The Ministry of Corporate Affairs is expected to launch a web-based system for company registration in India with the launch of the Spice Plus (Spice+) form with effect from the 1st day of February, 2020. This move is aimed to further the Ease of Doing Business (EODB) […]...

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Guide on issuing NCDs by Private Placement

Article covers Compliance related to issue of Non - Convertible Debentures (NCD) by Private Placement which includes procedures, Post issuance Compliances etc. under Companies Act, 2013 and SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2018....

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Extension of deadlines for various compliances under Companies Act

After considering the various representations of stakeholders and the impact of COVID-19 pandemic, in order to facilitate defaulting companies to make a fresh start on a clean slate by filing documents required to be filed under the Companies Act, 2013...

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Violation of provisions of Company Law by Companies

The Ministry of Corporate Affairs (MCA) has information of the companies which have violated the provisions of Company Law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha today....

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Relaxation/concession provided to Companies/LLPs during Lockdown period to combat COVID-19

The Ministry of Corporate Affairs has taken steps to provide several incentives/ relaxation/concession during Lockdown period so as to reduce the burden of companies/LLPs during COVID-19. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha...

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Extension of time for holding AGM for FY ended on 31.03.2020

Ministry of Corporate Affairs for considering ICSI’s representations favorably and granting relaxations in timelines for holding of AGM for the Financial Year ended on March 31, 2020....

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Relaxation of Additional Fees for filing CRA-4 for F.Y 2019-20

MCA vide its General Circular 29/2020 dated September 10, 2020 has granted relaxation in respect to filing CRA-4 a2 Months Extension for Furnishing of CRA-3 : As per Rule 6(5) of Companies (Cost Record and Audit) Rules, 2014 “Every cost auditor shall forward his duly signed report to the Board of Directors of the company […]...

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HC Set Aside Directors Disqualification on June 2017 considering CFSS 2020

Sandeep Agarwal & Anr. Vs. Union of India & Anr. (Delhi High Court) - Companies Fresh Start Scheme, 2020 provides an opportunity for active companies who may have defaulted in filing of documents, to put their affairs in order. It thus provides Directors of such companies a fresh cause of action to also challenge their disqualification qua the active companies....

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Corporate Debtor liability not extinguished upon Insolvency Resolution Plan Approval

State Bank of India Vs Anil Dhirajlal Ambani (NCLT Mumbai) - whether the liability of a guarantor of a debt of a corporate debtor stands reduced/extinguished upon an Insolvency Resolution Plan in respect of the corporate debtor, being approved under the Insolvency and Bankruptcy Code, 2016?”...

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NCLAT: NCLT has to sit with two members bench and not singly as per SC directions

Indison Agro Foods Ltd. Vs Registrar & Anr. (NCLAT Delhi) - Indison Agro Foods Ltd. Vs Registrar & Anr. (NCLAT Delhi) Hon’ble NCLAT in a landmark judgement directed Hon’ble President NCLT to constitute a bench of Two members of Judicial and Technical Member. The issue came for consideration in an interesting case where the insolvency matter was filed...

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NCLAT rejected Resolution Plan submitted after Expiry of Deadline for Submission of Resolution Plan

Kotak Investment Advisors Limited Vs Krishna Chamadia (NCLAT Delhi) - whether Resolution Plans submitted after the expiry of deadline without obtaining any CoC resolution to extend the deadline and issuing notice for inviting EoI from other potential resolution applicants is justified in law?...

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HC imposes cost for Filing Petition which was out of its territorial Jurisdiction

Vijay Goverdhandas Kalantri & Another Vs Union of India & Others (Punjab and Haryana High Court) - Vijay Goverdhandas Kalantri & Another Vs Union of India & Others (Punjab and Haryana High Court) The issue under consideration is whether the filing of the petition without jurisdiction only to gain benefit of its interim order is sustainable in law? In the present case, admittedly, both the...

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Extension of Last Date of Filing Cost Audit Report for FY 2019-20

General Circular No. 29/2020 - (10/09/2020) - It has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the companies is submitted by 30th November, 2020...

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AGM due date extended by 3 Months for all companies

Order No. ROC/P/Sec 96/2020/414 - (08/09/2020) - AGM due date for the Financial Year ended 31.03.2020 has been extended by 3 Months for all companies A major relief has been granted by MCA by way of granting extension of 3 months for holding annual general meeting and hence Companies with AGM due date as 30.09.2020 can conduct their AGM by 31.12.2...

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Companies (Acceptance of Deposits) Amendment Rules, 2020

Notification No. G.S.R. 548 (E) - (07/09/2020) - MCA notifies Companies (Acceptance of Deposits) Amendment Rules, 2020 vide Notification No. G.S.R. 548 (E) dated 07th September 2020 and amended rule 2, in sub-rule (1), in clause (c), in sub-clause (xvii) of Companies (Acceptance of Deposits) Rules, 2014. Extract of Revised Rule 2(1)(c)(xvii) is as...

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Companies (Management and Administration) Amendment Rules, 2020

Notification No. G.S.R. 538(E) - (28/08/2020) - The Companies (Management and Administration) Amendment Rules, 2020– A company shall not be required to attach the extract of the annual return with the Board’s report in Form No. MGT-9, in case the web link of such annual return has been disclosed in the Board’s report in accordance with ...

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Provisions for Placement of annual return on website of company notified

Notification No. S.O. 2920(E) - (28/08/2020) - Amendment to Sub-Section (3) Section 92 of Companies Act 2013 made effective from 28.8.2020 provides that  Every company shall place a copy of the annual return on the website of the company, if any, and the web-link of such annual return shall be disclosed in the Board’s report. MINISTRY OF ...

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Recent Posts in "Company Law"

Companies Fresh Start Scheme, 2020 – Succinct View

(Notified vide General Circular 12/2020 dated 30/03/2020) COMMENCEMENT AND VALIDITY OF THE SCHEME: The Scheme shall commence from 01.04.2020 and shall be valid till 30.09.2020. APPLICABILITY: The Scheme shall apply on all Defaulting Companies except: i. Companies against which action for final notice for striking off the name of the compa...

Read More
Posted Under: Company Law |

Procedure to alter Object Clause of MoA of a Private Company

Procedure for Alteration in the Object Clause of Memorandum of Association (MoA) of a Private Company Introduction: ♦ The object clause of the Company is the one of the most important clause of memorandum of association of any Company stating the objects i.e. the business/purpose for which the Company is incorporated and any other matte...

Read More
Posted Under: Company Law |

Extension of deadlines for various compliances under Companies Act

After considering the various representations of stakeholders and the impact of COVID-19 pandemic, in order to facilitate defaulting companies to make a fresh start on a clean slate by filing documents required to be filed under the Companies Act, 2013...

Read More
Posted Under: Company Law |

Incorporation of Company -Form SPICE+

Application for Incorporation of Companies as per Chapter II The Companies (Incorporation) Rules, 2014 An application for registration of a company shall be filed, with the Registrar within whose jurisdiction the registered office of the company is proposed to be situated, in SPICe+ (Simplified Proforma for Incorporating company Electron...

Read More
Posted Under: Company Law |

SPICE+ (SPICE PLUS)- New form for Company Registration

NEW MCA FORM FOR COMPANY REGISTRATION IN INDIA. The Ministry of Corporate Affairs is expected to launch a web-based system for company registration in India with the launch of the Spice Plus (Spice+) form with effect from the 1st day of February, 2020. This move is aimed to further the Ease of Doing Business (EODB) […]...

Read More
Posted Under: Company Law |

Violation of provisions of Company Law by Companies

The Ministry of Corporate Affairs (MCA) has information of the companies which have violated the provisions of Company Law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha today....

Read More
Posted Under: Company Law |

Relaxation/concession provided to Companies/LLPs during Lockdown period to combat COVID-19

The Ministry of Corporate Affairs has taken steps to provide several incentives/ relaxation/concession during Lockdown period so as to reduce the burden of companies/LLPs during COVID-19. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha...

Read More
Posted Under: Company Law |

Guide on issuing NCDs by Private Placement

Article covers Compliance related to issue of Non - Convertible Debentures (NCD) by Private Placement which includes procedures, Post issuance Compliances etc. under Companies Act, 2013 and SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2018....

Read More
Posted Under: Company Law |

Risk Management Committee

Risk Management Committee is the committee formed by board of directors to oversee the risk management policy and global risk management framework of the business....

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Posted Under: Company Law |

Practicing Company Secretaries- Work Areas & Other Key Points

According to Section 2 (25) of the Companies Act, 2013 –company secretary in practice means a secretary who is deemed to be in practice under sub section (2) of the section 2 of the Company Secretaries Act, 1980. HOW TO OBTAIN CERTIFICATE OF PRACTICE A member has to apply for certificate of Practice in FORM […]...

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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.

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