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(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 MoreProcedure 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 MoreApplication 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 MoreNEW 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 MoreArticle 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 MoreAfter 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 MoreThe 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 MoreThe 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 MoreMinistry 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....
Read MoreMCA 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 […]...
Read MoreSandeep 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....
Read MoreState 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?”...
Read MoreIndison 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...
Read MoreKotak 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?...
Read MoreVijay 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...
Read MoreGeneral 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...
Read MoreOrder 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...
Read MoreNotification 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...
Read MoreNotification 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 ...
Read MoreNotification 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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