Company Law

Form MGT-7A For Small Companies & One Person Companies

Recently the ministry of corporate affairs has notified a separate form for small companies and one person companies (OPC) under section 92 read with sub rule (1) rule 11 of the companies management and administration rules. This move is aimed at reducing the compliance burden on the small companies and OPC’s and rectify some practical ...

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New definition of Small Company under Companies Act, 2013

The Hon’ble Finance Minister Mrs. Nirmala Sitharaman had presented the Union Budget 2021 on 1st February, 2021. The Hon’ble Finance Minister Mrs. Nirmala Sitharaman had proposed to revise the definition of small companies by enhancing the paid-up capital base from the existing limit of Rs 50 lakh to Rs. 2 crores. The move is likely t...

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Independent Directors – Online Proficiency Self-Assessment Test

Independent Directors – Online Proficiency Self-Assessment Test Introduction Independent Directors play an important role of a watchdog. They ensure that the cases of corporate misgovernance do not occur. Independent Directors or Non-Executive Directors join the board of directors in different capacities. They come from different ba...

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Abridged Annual Return in Form MGT-7A for OPCs & Small Companies

Recently, two notifications have been issued by Ministry of Corporate Affairs (MCA) on 5th March, 2021. First Notification is with regard to notify the date of applicability of amendment in Section 92 of Companies Act, 2013 (CA, 2013) which deals with Annual Return of the Company and was made by Companies (Amendment) Act, 2017  but [&hel...

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Analysis of MCA amendments vide notifications dated 5th March 2021

MCA on 5 March. 2021 has made some amendments with 3 different notifications.  Let us know about those amendments through this article.  Summary of amendments made  ♣ Provisions of Section 23(1) to be made applicable w.e.f. 5 March, 2021  ♣ Insertion of Option for Aadhaar Authentication for GST Registration for Company Incorporati...

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MCA strikes off 10113 companies between April 2020 & February 2021

The Ministry of Corporate Affairs (MCA) administers the Companies Act, 2013 (the Act), Limited Liability Partnership Act, 2008 and Insolvency and Bankruptcy Code, 2016. There is no provision for weeding out the Companies in the Act....

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Verify status of Nidhi companies before investment: MCA

Investors are advised to verify the antecedents / status of a Nidhi Company especially their declaration of their status as Nidhi Company by the Central Government before becoming its member and investing their hard earned money in such companies....

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MCA & CBIC sign MoU for exchange of data

MCA & CBIC sign MoU for exchange of data for enhancing Ease of Doing Business in India and improve overall regulatory enforcement...

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8 section of Companies Act to be made applicable to LLP Soon

Ministry of Corporate Affairs is Planning for extension of few of the provisions of the Companies Act, 2013 to the LLP Act, 2008 and has issued an announcement regarding planning of extension of few of the provisions of the Companies Act, 2013 with some modifications and adaptations, to the LLP Act, 2008 vide its power […]...

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Incorporation of Companies in current fiscal increased 21%

Ministry of Corporate Affairs Incorporation of Companies in current fiscal increased 21% as compared to corresponding period in previous fiscal Posted On: 09 FEB 2021 5:56 PM by PIB Delhi The number of companies incorporated from April, 2020 till December, 2020 (COVID 19 period) in the Financial Year 2020-21 (till 31-12-2020) compared to ...

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Absence of field for Lawyers for Registration as Professionals on MCA website is Discriminatory: HC

Shikha Sharma Bagga Vs Union of  india and anr (Delhi high court) - Shikha Sharma Bagga Vs Union of  India and Anr (Delhi high court) High Court in a Interim order Observed that A perusal of Section 7(1) (b) of the Companies Act, 2013, clearly shows that Advocates can file documents for incorporation of a Company. This would be true even in the case of LLPs. The MC...

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HC quashes Criminal proceeding against Azim Premji & his wife

Azim Hasham Premji Vs India Awake For Transparency (Karnataka High Court) - Since complainant was neither Registrar of companies nor a shareholder of the company or a person authorized by the Central Government to file the complaint, therefore, the complaint  was dismissed as no other person can initiate any criminal proceeding against a company for the offence committed u...

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Hc explains category of Directors seeking setting aside of disqualification & activation of DIN/DSC

Anjali Bhargava and Anr Vs Union of India And Anr. (Delhi High Court) - Anjali Bhargava And Anr Vs Union of India And Anr. (Delhi High Court) The Delhi High Court set aside the director’s disqualification and ordered reactivation of Director Identification Number (DIN) and Digital Signature Certificate (DSC). The petitioners are the directors of two Companies namely B...

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Mere Balance Sheet entries not amounts to acknowledgment of Debt under Limitation Act

Bishal Jaiswal Vs Asset Reconstruction Company (India) Ltd. & Anr. (NCLAT Delhi) - Section 18 of the Limitation Act, 1963 would have no application to proceedings under I&B Code. Therefore, the issue raised as regards acknowledgement of liability by reflection in the Balance Sheet/ Annual Return would be irrelevant....

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Resolution Professional or Committee of Creditors cannot reclassify status of a creditor from Financial to Operational Creditor

Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi) - Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi) Resolution Professional or Committee of Creditors cannot reclassify status of a creditor from Financial to Operational Creditor NCLAT held that during CIRP, the IRP is authorised to collate the claims, and based on that he is empowered t...

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MCA enables Aadhar authentication for GSTIN on Company Incorporation

G.S.R.158(E) - (05/03/2021) - Companies (Incorporation) Third Amendment Rules, 2021. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, Dated: 05th March, 2021 G.S.R.158(E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central ...

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MCA mandates new Form & MGT-7 & MGT 7A for OPC & small companies

Notification No. G.S.R. 159(E). - (05/03/2021) - (1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2021. (2)  They shall come into force on the date of their publication in the Official Gazette....

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MCA notifies amendment in Section 92 of Companies Act 2013

S.O. 1066(E). - (05/03/2021) - MCA notifies date of applicability of amendment in Section 92 of Companies Act, 2013 which deals with Annual Return of the company. Amendment was made by Companies (Amendment) Act, 2017 but applicability was not been notified. Government of India Ministry of Corporate Affairs Notification New Delhi,...

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Companies (Specification of definitions details) Second Amendment Rules, 2021

G.S.R. 123(E). - (19/02/2021) - Companies (Specification of definitions details) Second Amendment Rules, 2021. Insertion of Rule 2A in Companies (Specification of Definitions Details) Rules, 2014 specifying ‘Companies that are not considered as Listed Companies’ w.e.f. 1st April 2021. This is to inform you that pursuant to the...

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MCA revises Benches of NCLT at various Union territories

Notification No. S.O. 654(E) - (12/02/2021) - MCA revises / Notifies Benches of NCLT at UT of Jammu & Kashmir, Ladakh, Dadra and Nagar Haveli and Daman and Diu MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 12th February, 2021 S.O. 654(E).—In exercise of the powers conferred by sub-section (1) of section 419 of the Companies Ac...

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Recent Posts in "Company Law"

Form MGT-7A For Small Companies & One Person Companies

Recently the ministry of corporate affairs has notified a separate form for small companies and one person companies (OPC) under section 92 read with sub rule (1) rule 11 of the companies management and administration rules. This move is aimed at reducing the compliance burden on the small companies and OPC’s and rectify some practical ...

Read More
Posted Under: Company Law |

New definition of Small Company under Companies Act, 2013

The Hon’ble Finance Minister Mrs. Nirmala Sitharaman had presented the Union Budget 2021 on 1st February, 2021. The Hon’ble Finance Minister Mrs. Nirmala Sitharaman had proposed to revise the definition of small companies by enhancing the paid-up capital base from the existing limit of Rs 50 lakh to Rs. 2 crores. The move is likely t...

Read More
Posted Under: Company Law |

MCA strikes off 10113 companies between April 2020 & February 2021

The Ministry of Corporate Affairs (MCA) administers the Companies Act, 2013 (the Act), Limited Liability Partnership Act, 2008 and Insolvency and Bankruptcy Code, 2016. There is no provision for weeding out the Companies in the Act....

Read More
Posted Under: Company Law |

Independent Directors – Online Proficiency Self-Assessment Test

Independent Directors – Online Proficiency Self-Assessment Test Introduction Independent Directors play an important role of a watchdog. They ensure that the cases of corporate misgovernance do not occur. Independent Directors or Non-Executive Directors join the board of directors in different capacities. They come from different ba...

Read More
Posted Under: Company Law |

Abridged Annual Return in Form MGT-7A for OPCs & Small Companies

Recently, two notifications have been issued by Ministry of Corporate Affairs (MCA) on 5th March, 2021. First Notification is with regard to notify the date of applicability of amendment in Section 92 of Companies Act, 2013 (CA, 2013) which deals with Annual Return of the Company and was made by Companies (Amendment) Act, 2017  but [&hel...

Read More
Posted Under: Company Law |

Analysis of MCA amendments vide notifications dated 5th March 2021

MCA on 5 March. 2021 has made some amendments with 3 different notifications.  Let us know about those amendments through this article.  Summary of amendments made  ♣ Provisions of Section 23(1) to be made applicable w.e.f. 5 March, 2021  ♣ Insertion of Option for Aadhaar Authentication for GST Registration for Company Incorporati...

Read More
Posted Under: Company Law |

Section 455 | Companies Act, 2013 | Dormant Company

Article explains What is A Dormant Company, Who Should Apply For Dormant Company Status, Procedure For Obtaining Dormant Status, Dormant Status Of Company By Registrar Suo Moto, Points To Be Considered Before Making The Application For Dormant Company and Dormant Company To Become Active Company. What is A Dormant Company The word “Dorm...

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Posted Under: Company Law |

Dormant V/s Defunct Companies

Article explains What is dormant Company, What is a defunct company, Status of a Defunct Company, Process To Apply For Dormant Status, Conditions for obtaining the status of dormant company, Dormant Company Compliances requirement, What are the benefits and exemptions provided to a dormant company and How to reactivate a Dormant company? ...

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Posted Under: Company Law |

MCA enables Aadhar authentication for GSTIN on Company Incorporation

G.S.R.158(E) (05/03/2021)

Companies (Incorporation) Third Amendment Rules, 2021. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, Dated: 05th March, 2021 G.S.R.158(E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following ru...

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MCA mandates new Form & MGT-7 & MGT 7A for OPC & small companies

Notification No. G.S.R. 159(E). (05/03/2021)

(1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2021. (2)  They shall come into force on the date of their publication in the Official Gazette....

Read More

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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