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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 MoreThe 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 MoreIndependent 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 MoreRecently, 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 MoreMCA 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 MoreThe 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 MoreInvestors 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....
Read MoreMCA & CBIC sign MoU for exchange of data for enhancing Ease of Doing Business in India and improve overall regulatory enforcement...
Read MoreMinistry 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 […]...
Read MoreMinistry 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 ...
Read MoreShikha 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...
Read MoreAzim 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...
Read MoreAnjali 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...
Read MoreBishal 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....
Read MoreMr 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...
Read MoreG.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 ...
Read MoreNotification 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 MoreS.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,...
Read MoreG.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...
Read MoreNotification 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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G.S.R.158(E) - (05/03/2021) -
Notification No. G.S.R. 159(E). - (05/03/2021) -
