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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 MoreAS 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 MoreNidhi 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 MoreRecently, 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 More1. 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 More1) 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...
Read MoreSmt. 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...
Read More1. 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 […]...
Read MoreSBO 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....
Read MoreDuring 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...
Read MoreIDBI 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...
Read MoreHari 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...
Read MoreS.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...
Read MoreSerious 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)...
Read MorePr. 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...
Read MoreNotification 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 MoreS.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...
Read MoreG.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....
Read MoreNO. 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 ...
Read MoreGeneral 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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Notification No. G.S.R. 571(E) - (14/08/2019) -
S.O. 2947(E) - (14/08/2019) -
