Company Law

Threshold limits for applicability of 15 provisions of Companies Act, 2013

Article explains Threshold limits for applicability of 15 provisions of Companies Act, 2013 related to Key Managerial Personnel, Appointment of Company Secretary, Independent Directors, Woman Director, Meeting of Independent Director, Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee, State...

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Private Limited Company Registration in India

If you’re considering setting up a private company or have already established an existing one, you can enjoy a few advantages to this option. Private companies can be established without a minimal capital investment. It can include up to 200 shareholders and is also able to provide limited liability security. Can take advantage of...

Read More

Documents Required for Company Registration

According to the 2013 Act, a private corporation must have a minimum of two members and a maximum of 200 members to be incorporated. The shareholders of any private limited business are not required to liquidate their assets in the event of financial risk, meaning they should have limited liability. Private limited companies have been [&h...

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How to manage accounting for a real estate agency

Real estate agencies have a lot of financial information to track, from rental income to property sales to commission payments. It can be easy for things to slip through the cracks without proper accounting management....

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Corporate Governance Forums

Corporate Governance ensures that the business of a firm is conducted in an ethical manner in compliance with the laws, rules and regulations and the industry best practices. A company’s corporate governance is important to investors since it shows a company’s direction and business integrity. Good corporate governance helps companies...

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FCRA: Act & Rules / Regulations-List of Agencies not treated as foreign source

List of agencies of the United Nations, and other international agencies and organizations notified by the Central Government to be not covered by the definition of ‘foreign source’, under section 2(1)(j)(ii) of the Foreign Contribution (Regulation) Act, 2010 ****** The United Nations System I. Secretariat 1. Office of Interna...

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NFRA introduces audit quality inspections

The National Financial Reporting Authority (NFRA) has published its audit quality inspection guidelines  as a step towards  further  improving the quality of audit profession. The inspection guidelines are on the lines of the best practices followed by International Audit Regulators. In fact, Audit quality inspections are integral to t...

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Writ petition filed against MCA for seeking extension

Dilip Kumar Choudhary Vs Ministry of Corporate Affairs (Delhi High Court) 1. That the Petitioner is a Proprietor of a firm named Kumar Dilip & Associates (Herein after referred to as “Petitioner Firm”) registered under with ICSI (Institute of company secretaries of India). The Petitioner firm is comprises of company secretaries, o...

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ICSI Request MCA for extension of time period for filing of financial statements

ICSI requested for granting extension of time for filing of financial statements for the financial year ended 31.03.2022 up to 31st December, 2022 without levying additional fee....

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List of Audit Firms that have not filed NFRA-2 forms

1) Rule 5 of NFRA Rules 2018 (as amended from time to time) auditors of class of companies specified in Rule 3 of the above referred Rules are required to file with NFRA an annual return in specified form viz. NFRA-2, on or before 30th November every year. However, in order to provide sufficient time, […]...

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Provident fund dues are to be paid in full by Corporate Debtor

Assam Tea Employees Provident Fund Organization Vs Madhur Agarwal (NCLAT) - NCLAT Delhi held that provident fund dues are not the assets of the Corporate Debtor and they have to be paid in full of all the pending dues of the Provident Fund Contribution, Provident Fund Administrative Cost, Interest for delay etc....

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No Prohibition for appearance in representing different Company, in separate proceedings u/s 7 IBC: NCLAT

Anand Varma Vs Piyush Periwal & Ors. (NCLAT Delhi) - In present facts of the case, the NCLAT allowed the appeal by expunging all adverse observations made against the Appellant in the impugned Order by observing that appearance for an entity  being a separate company which has initiated separate proceeding under Section 7 against different Corporate ...

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Change in COC Composition will not affect costs & fees ratified by earlier CoC

DBS Bank India Pvt. Ltd. Vs Rakesh Kumar Jain (NCLAT Delhi) - DBS Bank India Pvt. Ltd. Vs Rakesh Kumar Jain (NCLAT Delhi) The proviso in Regulation 12(3) of CIRP Regulations, 2016 clearly stipulates that if any decision is taken by the committee (CoC), prior to the reconstitution, which in this case is the ratification of the fees and the expenses, its validit...

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Condonation cannot be granted under Section 61 of IBC as limitation period is 30 days which is extendable to 45 days

Isolux Corsan India Engineering & - In present facts of the case, the NCLAT rejected the application praying condonation of delay as it was filed after 45 days of the passing of the Impugned Order and by virtue of Section 61 of Insolvency and Bankruptcy Code, 2016 the condonation cannot be granted....

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Donation to institutions not listed in Schedule (VII) of Companies Act not deductible as CSR expenditure

Vedanta Limited Vs ACIT (Delhi High Court) - Delhi High Court held that donations to institutions other than the one enlisted in Schedule (VII) of the Companies Act, 2013 is not deductible as Corporate Social Responsibility....

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MCA Imposes penalty on Company & Directors for not filing Annual Return

No. ROC/PAT/SCN/92/15125/2072-2075 - (17/11/2022) - As per MCA record, the company has not filed its Annual Return for the financial year 2018-19. Hence the Company and its directors/Officers in default are liable for penalty as per section 92(5) of the Companies Act, 2013....

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MCA imposes penalty of Rs. 4.50 Lakh for violation of section 134

Ref: ROC/CBE/A.0./10A/9881/2022 - (10/10/2022) - Order for Penalty of Rs. 4.50 lakh under Section 454 for violation of Section 134 of the Companies Act, 2013 read with the Companies (Adjudication of Penalties) Rules, 2014...

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Companies (Registered Valuers and Valuation) Amendment Rules, 2022

Notification No. G.S.R. 831(E). - (21/11/2022) - Partnership entity or company, already registered as valuers, on the date of commencement of the Companies (Registered Valuers and Valuation) Amendment Rules, 2022, shall comply within six months of such commencement with the conditions specified under this clause...

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MCA penalises NHAI subsidiary for not appointing woman director in the company

Order No. ROC/D/Adj/2022/Section 149(1)/6552 - (17/11/2022) - Company has not complied with provision of appointment of women director so MCA imposes Penalty of Rs. 211000 which includes initial Penalty of Rs. 50000 and Rs. 1,61,000 for continuing default. ...

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MCA penalises director for certifying & filing incorrect e-form AOC-4

Order No. ROC/D/Aclj Order/defective/2022/6532-6533 - (16/11/2022) - MCA impose penalty on director under section 450 of Companies Act, 2013 for certify and filing incorrect e-form AOC-4 pursuant to Rule 8(3) of Companies (Registration Offices and Fees) Rules, 2014...

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Recent Posts in "Company Law"

Threshold limits for applicability of 15 provisions of Companies Act, 2013

Article explains Threshold limits for applicability of 15 provisions of Companies Act, 2013 related to Key Managerial Personnel, Appointment of Company Secretary, Independent Directors, Woman Director, Meeting of Independent Director, Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee, State...

Read More
Posted Under: Company Law |

Private Limited Company Registration in India

If you’re considering setting up a private company or have already established an existing one, you can enjoy a few advantages to this option. Private companies can be established without a minimal capital investment. It can include up to 200 shareholders and is also able to provide limited liability security. Can take advantage of...

Read More
Posted Under: Company Law |

Provident fund dues are to be paid in full by Corporate Debtor

Assam Tea Employees Provident Fund Organization Vs Madhur Agarwal (NCLAT)

NCLAT Delhi held that provident fund dues are not the assets of the Corporate Debtor and they have to be paid in full of all the pending dues of the Provident Fund Contribution, Provident Fund Administrative Cost, Interest for delay etc....

Read More
Posted Under: Company Law | |

FCRA: Act & Rules / Regulations-List of Agencies not treated as foreign source

List of agencies of the United Nations, and other international agencies and organizations notified by the Central Government to be not covered by the definition of ‘foreign source’, under section 2(1)(j)(ii) of the Foreign Contribution (Regulation) Act, 2010 ****** The United Nations System I. Secretariat 1. Office of Interna...

Read More
Posted Under: Company Law |

MCA Imposes penalty on Company & Directors for not filing Annual Return

No. ROC/PAT/SCN/92/15125/2072-2075 17/11/2022

As per MCA record, the company has not filed its Annual Return for the financial year 2018-19. Hence the Company and its directors/Officers in default are liable for penalty as per section 92(5) of the Companies Act, 2013....

Read More

MCA imposes penalty of Rs. 4.50 Lakh for violation of section 134

Ref: ROC/CBE/A.0./10A/9881/2022 10/10/2022

Order for Penalty of Rs. 4.50 lakh under Section 454 for violation of Section 134 of the Companies Act, 2013 read with the Companies (Adjudication of Penalties) Rules, 2014...

Read More

Appointment of Woman Director

The concept of Woman director was introduced with the Companies Act of 2013, when the Government inserted an ordinance making it necessary to appoint a Woman Director to a company’s board of directors provided certain requirements are met. In accordance with the second proviso to Section 149(1) and Rule 3 of the Companies (Appointme...

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Posted Under: Company Law

Documents Required for Company Registration

According to the 2013 Act, a private corporation must have a minimum of two members and a maximum of 200 members to be incorporated. The shareholders of any private limited business are not required to liquidate their assets in the event of financial risk, meaning they should have limited liability. Private limited companies have been [&h...

Read More
Posted Under: Company Law |

How to manage accounting for a real estate agency

Real estate agencies have a lot of financial information to track, from rental income to property sales to commission payments. It can be easy for things to slip through the cracks without proper accounting management....

Read More
Posted Under: Company Law |

No Prohibition for appearance in representing different Company, in separate proceedings u/s 7 IBC: NCLAT

Anand Varma Vs Piyush Periwal & Ors. (NCLAT Delhi)

In present facts of the case, the NCLAT allowed the appeal by expunging all adverse observations made against the Appellant in the impugned Order by observing that appearance for an entity  being a separate company which has initiated separate proceeding under Section 7 against different Corporate Debtor and appearance of the Appellant i...

Read More
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.