Company Law news

Suggest how to enhance audit independence & accountability: ICAI

ICAI invites suggestions/comments from members on Consultation paper to examine the existing provisions of law and make suitable amendments therein to enhance audit independence and accountability by 12.00 Noon on 21st February, 2020. Also Read Here –MCA proposes amendments to enhance Audit Independence & Accountability 18th Feb...

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Posted Under: Company Law |

SPICE+ New Company Incorporation form with Bouquet of Services

REDUCE COST AND TIME EASE OF DOING BUSINESS A Bouquet of Services with SPICE+ :- > Incorporation > DIN allotment > Issue of PAN > Issue of TAN > Issue of EPF, ESI Number > Allotment of GSTN (If selected) > Mandatory opening of Bank Account As a part of Government’s Ease of Doing Business […]...

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Posted Under: Company Law |

MCA initiatives to reduce cost of compliance by companies

MCA has been taking various initiatives on continuous basis to provide less stringent regulations, including measures with respect to filing requirements for small companies, One Person Companies (OPCs) and start-ups. This was stated by Shri Anurag Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a qu...

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Posted Under: Company Law |

MCA proposes amendments to enhance Audit Independence & Accountability

The concept of Auditor independence requires the auditor to carry out his or her work freely, with integrity and in an objective manner. Though auditor is appointed by the shareholders, effective power of their appointment and dismissal lies with the management....

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Posted Under: Company Law |

De-criminalisation of penalties for Companies Law breaches

Re-categorising 23 offences out of the 66 remaining compoundable offences under the Act, to be dealt with in the in-house adjudication framework wherein these defaults would be subject to a penalty levied by an adjudicating officer. In addition, the quantum of penalties recommended are lower than the quantum of fines presently provided in...

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Posted Under: Company Law |

Prescribe period of sixty days for filing of financial statement: ICSI

Provision of Section 137(1) of the Companies Act, 2013 requiring filing of financial statement within thirty days of the date of annual general meeting may be considered for amendment by prescribing a period of sixty days for such filing, aligning it with the date of filing of annual return....

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Posted Under: Company Law |

MCA to introduce ‘SPICe+’ form to replace existing SPICe form

(i) Stakeholders may please note that as part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form. (ii) SPICe+ would be an integrated Web form...

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Posted Under: Company Law |

Relax additional fees & extend last date of filing various e-forms: ICSI

ICSI requests Ministry of Corporate Affairs for Relaxation of additional fees and  for extension of last date for filing of various e-forms under the Companies Act, 2013 vide its letter dated 27th December 2019. THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (...

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Posted Under: Company Law |

Invitation of Nominations for National CSR Awards 2020

Ministry of Corporate Affairs, Government of India has instituted National Corporate Social Responsibility (CSR) Awards to recognize companies that have made a positive impact on the society through their innovative & sustainable CSR initiatives....

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Posted Under: Company Law |

NFRA founds Issues in statutory audit of IL&FS done by Deloitte

NFRA has issued Audit Quality Review report of the statutory audit for year 2017-18 of IL&FS Financial Services Limited. The statutory auditor for this engagement was Deloitte Haskins and Sells LLP....

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Posted Under: Company Law |

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