Company Law

FAQs on MCA Payment Process

Q. 1 What are the different modes of payment available for making MCA fee payments? Ans. The different modes of payment available are: Credit card/ Debit Card (Pay online) Net Banking (Pay online) Challan (Generate the Challan online, fill it and deposit it off-line at an authorized bank branch) NEFT Pay Later Q. 2 Which […]...

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FAQs on Company Incorporation & Allied Matters

Q. 1 What is e Form SPICe+? Ans. SPICe+ is a part of various initiatives undertakenby the Government of India towards Ease of Doing Business (EODB). SPICe+ form is an integrated webform and an advancedversion of the previous SPICe form (i.e. e-form INC-32). SPICe+ webform offers 11 servicesby 3 Central Government Ministries & Departme...

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DIR-3 KYC form- 23 things you must know (Updated)

For Financial year 2019-20 onwards – Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is ‘Approved’, would be mandatorily required to file form DIR-3 KYC before 30th April of the immediately next financial year....

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Procedural Aspects of Fast Track Merger

Merger and amalgamation are restructuring tool which helps companies in expansion and diversification of their business and to achieve their underlying objectives. Merger means an arrangement whereby one or more existing companies merge their identity into another to form a new entity which may or may not be one of those existing entities...

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Significance of ‘True and Fair View’ in Accounting: The Role of Auditors

Discover the importance of maintaining a 'true and fair view' in financial statements and the crucial role of auditors in ensuring compliance. Learn about the statutory obligations, requirements, and responsibilities of auditors and directors to present accurate and unbiased financial information. Gain insights into the meaning of 'true' ...

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C-PACE established for process-bound striking off companies from MCA Register

Centre for Processing Accelerated Corporate Exit (C-PACE) established for providing hassle-free filing, timely and process-bound striking off companies from MCA Register The Ministry of Corporate Affairs (MCA) has moved a step forward by centralising the strike off process of companies with the establishment of the Centre for Processing ...

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Explanatory Statements for preferential allotment

ANNEXED TO THE NOTICE OF GENERAL MEETING Explanatory Statements for preferential allotment pursuant to section 102 of the Companies Act, 2013. The Board of Directors on ……………………subject to necessary approval(s) , has approved the proposal for raising fund up to Rs………………………… by way of issue of equity shar...

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Micro Small Medium Enterprises Certificate

 TO WHOM SO EVER IT MAY CONCERN In compliance with the requirements of Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019, issued by the Ministry of Corporate Affairs vide notification dated January 22, 2019, all Companies who gets supplies from Micro and Small Enterprise (MS...

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MCA Advisory on Launch of STK-2 form along with C-PACE functionality

Ministry of Corporate Affairs is launching STK-2 form along with C-PACE functionality on 01st May 2023 at 12:00 AM....

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ICSI requests MCA to relax levy of additional fees on 45 forms till 30.06.2023

ICSI requests relaxation in the levy of additional fee for filing of 45 forms which are due for filing between 07.02.2023 and 30.06.2023 till June 30, 2023 and for allowing filing of such 6 Forms namely Form GNL-2, MGT-14, PAS-3, SH-8, SH-9, SH-11, in physical mode till June 30, 2023....

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Claim before resolution professional/ liquidator should be based on solid documentary evidence

Gurudeo Exports Corporation Private Limited Vs Akash Singhal Liquidator of Amira Pure Foods Pvt. Ltd. (NCLAT) - NCLAT held that claim before resolution professional/ liquidator has to be based on solid documentary evidence and not based on indirect or circumstantial or secondary evidence....

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Limitation period for appeal to NCLAT excludes date on which order pronounced & time taken to provide certified copy

Sanket Kumar Agarwal & Anr Vs APG Logistics Private Limited (Supreme Court of India) - Supreme Court held that for calculating limitation period for filing an appeal to NCLAT, the date on which order was pronounced and the time taken to provide certified copy is to be excluded....

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No automatic bail rejection for mere twin conditions in Section 212 of Companies Act

Ashish Mittal Vs Serious Fraud Investigation Office (Delhi High Court) - Section 212(6) contemplates that before a court decides to grant bail to an accused, public prosecutor must be given an opportunity to oppose bail application....

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Auditors cannot escape being probed if they resign; Section 140(5) of Companies Act constitutional: SC

Union of India and Another Vs Deloitte Haskins and Sells LLP & Anr (Supreme Court of India) - Challenge to constitutional validity of section 140(5) of Companies Act, 2013 fails and it is observed and held that section 140(5) is neither discriminatory, arbitrary and/or violative of Articles 14, 19(1)(g) of Constitution of India...

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Authorized signatory of cheque, not being drawer, cannot be directed to pay interim compensation

Lyka Labs Limited Vs State of Maharashtra (Bombay High Court) - Lyka Labs Limited Vs State of Maharashtra (Bombay High Court) Bombay High Court held that the signatory of the cheque, authorized by the “Company”, is not the drawer in terms of section 143A of the Negotiable Instruments Act and cannot be directed to pay interim compensation under sectio...

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MCA imposed Penalty for Omitting Director DIN in e-form ADT-1 Attachments

Order No. ROCK/F No.09-53366/3139/Kosamattom/2101/2023 - (19/05/2023) - Ministry of Corporate Affairs penalized Kosamattam Nidhi Limited for not mentioning DIN of directors in documents attached with e-form ADT-1...

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MCA Imposes Penalty for Delayed Filing of Form INC-20A

Order No. ROC(B)/Adj.Order.454-10A/VESPPL/Co.No.133287/2023 - (11/04/2023) - As per Rule 23A of the Companies (Incorporation) Rules, 2014, the declaration under section 10A by a director shall be in Form No. INC-20A and shall be filed as provided in the Companies (Registration Offices and Fees) Rules, 2014 and the contents of the said form shall be verified by a company secr...

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MCA imposes penalty of Rs. 24.46 Lakh for violation of CSR provisions

Order No. ROC(B)/Adj.Ord.454-135/Toyota-Tsusho/Co.No.50429/2023 - (26/05/2023) - Registrar of Companies, Karnataka issued an order of adjudication of penalty against Toyota Tsusho Systems India Private Limited for violating Section 135 of the Companies Act, 2013. The company failed to comply with the provisions regarding Corporate Social Responsibility (CSR) expenditure within t...

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MCA levied Rs. 10 Lakh Penalty for delay in appointment of whole-time CS

Notification No. ROC(B)/Adj.Ord.454-203/Menzies Bobba/Co.No.39761/2023 - (12/04/2023) - Menzies Aviation Bobba (Bangalore) Private Limited failed to appoint a whole-time company secretary (CS) within the prescribed time frame, resulting in a violation of Section 203 of the Companies Act, 2013 for a period of 730 days. The managing director, Mr. Bobba Veerasamynathan, has been held liab...

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MCA Imposes Penalty for Private Placement Offer Letters Without Filing Required Resolutions

File No. ROC(8)/Adj.Ord.454.42/Vidyuttech/Co.No.154044/2023/ - (25/05/2023) - Registrar of Companies (Karnataka) has issued an order adjudicating penalties on Vidyuttech Services Private Limited for violating provisions of section 42 Companies Act, 2013 related to private placement of securities.  Company accepted money before passing relevant resolutions and issued private ...

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Recent Posts in "Company Law"

FAQs on MCA Payment Process

Q. 1 What are the different modes of payment available for making MCA fee payments? Ans. The different modes of payment available are: Credit card/ Debit Card (Pay online) Net Banking (Pay online) Challan (Generate the Challan online, fill it and deposit it off-line at an authorized bank branch) NEFT Pay Later Q. 2 Which […]...

Read More
Posted Under: Company Law |

FAQs on Company Incorporation & Allied Matters

Q. 1 What is e Form SPICe+? Ans. SPICe+ is a part of various initiatives undertakenby the Government of India towards Ease of Doing Business (EODB). SPICe+ form is an integrated webform and an advancedversion of the previous SPICe form (i.e. e-form INC-32). SPICe+ webform offers 11 servicesby 3 Central Government Ministries & Departme...

Read More
Posted Under: Company Law |

DIR-3 KYC form- 23 things you must know (Updated)

For Financial year 2019-20 onwards – Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is ‘Approved’, would be mandatorily required to file form DIR-3 KYC before 30th April of the immediately next financial year....

Read More
Posted Under: Company Law |

MCA imposed Penalty for Omitting Director DIN in e-form ADT-1 Attachments

Order No. ROCK/F No.09-53366/3139/Kosamattom/2101/2023 19/05/2023

Ministry of Corporate Affairs penalized Kosamattam Nidhi Limited for not mentioning DIN of directors in documents attached with e-form ADT-1...

Read More

Procedural Aspects of Fast Track Merger

Merger and amalgamation are restructuring tool which helps companies in expansion and diversification of their business and to achieve their underlying objectives. Merger means an arrangement whereby one or more existing companies merge their identity into another to form a new entity which may or may not be one of those existing entities...

Read More
Posted Under: Company Law |

Significance of ‘True and Fair View’ in Accounting: The Role of Auditors

Discover the importance of maintaining a 'true and fair view' in financial statements and the crucial role of auditors in ensuring compliance. Learn about the statutory obligations, requirements, and responsibilities of auditors and directors to present accurate and unbiased financial information. Gain insights into the meaning of 'true' ...

Read More
Posted Under: Company Law |

Provisions relating to Transfer of Shares of Listed & Unlisted Companies

An in-depth guide explaining the legal provisions and procedural nuances governing share transfers in listed, unlisted public, and private companies in India....

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Posted Under: Company Law |

Board Resolution Format for Disclosure of Interest Received From Directors

The Companies Act, 2013, in India, necessitates the directors of a company to disclose any personal or professional interest they may have in any transactions that the company is a part of. This requirement is laid down under Section 184 (1) of the Companies Act, 2013, and Rule 9 of the Companies (Meetings of Board […]...

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Posted Under: Company Law |

Independent Director Data Bank in India under Companies Act, 2013

This article offers an in-depth exploration of the Independent Director Data Bank (IDDB) in India, highlighting its purpose, key features, compliance requirements, and consequences of non-compliance....

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Posted Under: Company Law |

An In-depth Look at Sweat Equity Shares Under Companies Act, 2013

his article provides a comprehensive understanding of sweat equity shares, as defined by the Companies Act, 2013, in India. It covers key aspects such as the definition, approval process, valuation, disclosure requirements, restrictions, and tax implications.I. Introduction to Sweat Equity Shares In the realm of corporate finance, swea...

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Posted Under: Company Law |

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.