Company Law

Issue of Compulsorily Convertible Debentures through Private Placement

1. Company proposes to offer compulsorily convertible debentures to its existing members i.e. Proposed Allottees on a preferential allotment basis. 2. Issue of debentures are governed by Section 71 of the Act, read with Rule 18 of The Companies (Share Capital and Debentures) Rules, 2014 ...

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Secretarial Audit- A mandate and governance transparency

In common parlance audit refers to the systematic examination and verification of the records, transactions, documents and physical inspection of the activities by qualified personnel. ...

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Provisions to be complied with while Incorporation of Company

Know what one should be aware of before approaching any Professional Expert to set up your Limited Company. While registering any Limited Company, certain rules and regulation of Indian Companies Act, 2013 shall be followed in order to make sure that your company does not face any legal obstacles and complications....

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All about vigil mechanism in reference to credit manager & critical appreciation

The word Vigil as per oxford dictionary means a period of keeping awake during the time usually spent asleep, especially to keep watch or pray....

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ROC Search Report for loans sanctioned by Banks

Search Report as the name suggests is related to a report based on some facts and figures of a particular search. It is a basic Tool for Inspection of Company’s Records in hands of stakeholders specially Banks. ...

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MCA revises AoC-4 Non-XBRL & AoC-4 XBRL (Non-Ind AS) forms

AoC-4 Non-XBRL and AoC-4 XBRL (Non-Ind AS) forms are being revised and are likely to be notified on 7th November 2017 including therein demonetization related changes. Stakeholders may plan accordingly and file using only the revised forms w.e.f. 8th November 2017. Source- http://www.mca.gov.in/#...

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No need to file PAN-TAN application in Form 49A/49B after filing SPICe e-forms: MCA

With effect from 6PM of 4th November 2017, stakeholders will NOT be required to upload signed 49A/49B using Submit application for PAN/TAN service, in respect of any fresh SPICe submission or Resubmission cases. PAN and TAN will continue to be issued as before based on the details submitted in the SPICe form itself. ...

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Review on properties belonging to 2.09 lakh struck-off companies

Minister of State for Law, Justice and Corporate Affairs, Mr. P. P. Chaudhary reviews the follow-up action by the States on properties belonging to around 2.09 lakh companies struck-off from the Register of Companies by the Central Government. ...

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Exposure Draft Accounting Standard (AS) 24 Related Party Disclosures

Following is the Exposure Draft of the Accounting Standard (AS) 24, Related Party Disclosures, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India...

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One Suspicious Company found having with 2134 Bank A/cs

Government of India receives vital information from 13 Banks regarding the bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies that had been struck off the Register of Companies earlier this year; ...

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NCLT seek opinion of ICAI on derogatory remarks of personal nature in Audit Report

Punita Khatter Vs. Explorers Travels & Tours (P) Ltd. (National Company Law Tribunal Delhi) - Representatives from the Institute of Chartered Accountant have prayed for some time to assist this Bench whether disparaging remarks of a personal nature would fall within the purview of a Chartered Accountant to be mentioned in the Audit report....

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NCLT imposes Rs. 10 Lakh Cost for seeking transfer of cases on minor excuses

Cyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal) - Cyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal) A perusal of the aforesaid prayer does not leave any manner of doubt that the prayer was made for entrusting the Company Petition No. 82/2016 to such Bench of the NCLT as may be appropriate for hearing the same ...

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NCLT Order levy of compounding fee of Rs. 3.39 Lakh for Non Appointment of CS

Re. Atyati Technologies Private Limited (National Company Law Tribunal Bangalore) - If a company contravenes the provisions of this section, the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees and every director and key managerial personnel of the company who is in default shall be punishable with fine whic...

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Appeals Filed U/s. 10F of Companies Act 1956 cannot be condoned after 60 days

Santosh Kumar Hegde Vs. Parimala Hospitality (P.) Ltd. & Ors. (Bombay High Court) - In view of Companies Act, 1956 being a special statute and upon considering the language of section 10-F, in my view it is clear that the Company Court has no power to condone delay beyond the period of 60 days....

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Principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases: NCLT

Re. M/S UW International Training & Education Centre for Health Pvt. Ltd. (NCLT Delhi) - NCLT held that the principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases, it is necessary to define and understand offense. The term offence has been defined by s 3(38) of General Clauses Act, as any act or omission made punishable by any law for the time being...

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Companies (Cost Records and Audit) Amendment Rules, 2017

G.S.R. 1498(E) - (07/12/2017) - In the principal rules, in the Annexure, for Form CRA-1 and Form CRA-3, the following Forms shall respectively be substituted and shall be deemed to have been substituted with effect from the 1St day of April, 2016, namely:-...

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Special Court for speedy Trial of Company Law offences in Karnataka State designated

S.O. 3804(E) - (04/12/2017) - LIX Additional City Civil and Sessions Judge, Bengaluru City is designated as Special Court for the purposes of providing speedy trial of offences punishable with imprisonment of two years or more under section 435(1) of the Companies Act, 2013...

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Companies (Filing of documents and forms in XBRL) Second Amendment, Rules, 2017

G.S.R.1480(E) - (04/12/2017) - In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Filing of Documents and Forms in Extensible Business Reporting Languag...

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MCA highlights Irregular certification of ROC e-forms

Ref: RD/NER/406 - (01/12/2017) - Various e-forms AOC-4 were certified by you stating- I declare that I have been duly engaged for the purpose of certification of this form. It is hereby certified that I have gone through the provisions of the Companies Act, 2013 and Rules there under for the subject matter of this form and matters ...

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Facility of transfer of shares to IEPF Authority demat account with CDSL

Circular No.: NSDL/CIR/II/22/2017 - (28/11/2017) - Attention of Issuers/RTAs is invited to NSDL Circular No. NSDL/CIR/II/21/2017 dated November 24, 2017 regarding transfer of shares to IEPF Authority. In this context, Issuers/R&T Agents are hereby informed that the facility of transfer of shares being transferred...

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Recent Posts in "Company Law"

Issue of Compulsorily Convertible Debentures through Private Placement

1. Company proposes to offer compulsorily convertible debentures to its existing members i.e. Proposed Allottees on a preferential allotment basis. 2. Issue of debentures are governed by Section 71 of the Act, read with Rule 18 of The Companies (Share Capital and Debentures) Rules, 2014 ...

Read More
Posted Under: Company Law |

Secretarial Audit- A mandate and governance transparency

In common parlance audit refers to the systematic examination and verification of the records, transactions, documents and physical inspection of the activities by qualified personnel. ...

Read More
Posted Under: Company Law |

Provisions to be complied with while Incorporation of Company

Know what one should be aware of before approaching any Professional Expert to set up your Limited Company. While registering any Limited Company, certain rules and regulation of Indian Companies Act, 2013 shall be followed in order to make sure that your company does not face any legal obstacles and complications....

Read More
Posted Under: Company Law |

All about vigil mechanism in reference to credit manager & critical appreciation

The word Vigil as per oxford dictionary means a period of keeping awake during the time usually spent asleep, especially to keep watch or pray....

Read More
Posted Under: Company Law |

ROC Search Report for loans sanctioned by Banks

Search Report as the name suggests is related to a report based on some facts and figures of a particular search. It is a basic Tool for Inspection of Company’s Records in hands of stakeholders specially Banks. ...

Read More
Posted Under: Company Law |

Companies (Cost Records and Audit) Amendment Rules, 2017

G.S.R. 1498(E) (07/12/2017)

In the principal rules, in the Annexure, for Form CRA-1 and Form CRA-3, the following Forms shall respectively be substituted and shall be deemed to have been substituted with effect from the 1St day of April, 2016, namely:-...

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Importance Of Whole Time Company Secretary (CS)

Since inception of the provisions of appointment of Whole Time Company Secretary ,this position always being treated as a significant position in the company. As per companies Act, 1956...

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Posted Under: Company Law |

Special Court for speedy Trial of Company Law offences in Karnataka State designated

S.O. 3804(E) (04/12/2017)

LIX Additional City Civil and Sessions Judge, Bengaluru City is designated as Special Court for the purposes of providing speedy trial of offences punishable with imprisonment of two years or more under section 435(1) of the Companies Act, 2013...

Read More

Companies (Filing of documents and forms in XBRL) Second Amendment, Rules, 2017

G.S.R.1480(E) (04/12/2017)

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015...

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Major Amendment to Investor Education Protection Fund (IEPF) Rules

Any money transferred to the Unpaid Dividend Account of a company in pursuance of this section which remains unpaid or unclaimed for a period of seven years (7 year and 37 days from the date of declaration of dividend) from the date of such transfer shall be transferred by the company along with interest accrued, if any, thereon to Invest...

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Posted Under: Company Law |
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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.