Company Law news

1.55 lakh companies & 42186 LLP incorporated in FY 2020-21

MCA registers 1.55 lakh company incorporations in FY 2020-21, an increase of 27% year-on-year 42,186 Limited Liability Partnerships got incorporated in FY 2020-21, an increase of 17% year-on-year During the Financial Year 2020-21, Ministry of Corporate Affairs (MCA) registered more than 1.55 Lakh company incorporations as compared to 1.22...

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Posted Under: Company Law |

15 Statutory compliances of Private Company under Company & FEMA Law

Article compiles 15 Statutory compliances to be done by a Private Limited Company under Companies Act 2013 & FEMA Act,1999. Article explains Nature of Compliance to be Done, Forms which needs to be filed for Compliance, Due date of Compliance and Provisions of Due date of Compliance. Statutory Compliance Of The Company S.N0 Particular...

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Posted Under: Company Law |

ROC imposes penalty for non-Adherence to Secretarial Standards

Non Adherence to Secretarial Standards lands Companies in a soup ;ROC imposes penalty The Companies Act, 2013 has entered into a maturity phase as its inception is over seven years. Secretarial Standards were introduced to plug in the gap that the Act did not provide for as a measure of good Corporate Governance. Yet, the […]...

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Posted Under: Company Law |

MCA mandates Companies to use Software with Audit Trail of each Transaction

The Ministry of Corporate Affairs (MCA) has issued a notification (Companies (Accounts) Amendment Rules, 2021), that every company which uses accounting software for maintaining its books of account shall use only the accounting software where there is a feature of recording audit trail of each and every transaction, and further creating ...

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Posted Under: Company Law |

Extending deadline of CFSS and LLP Settlement Scheme

Ministry of Corporate Affairs Extending deadline of Companies Fresh Start Scheme and LLP Settlement Scheme Posted On: 23 MAR 2021 The Ministry of Corporate Affairs (MCA) through the General Circular no. 12/2020 dated 30.3.2020, launched the “Companies Fresh Start Scheme, 2020 which inter- alia provided opportunity to companies to ma...

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Posted Under: Company Law |

SFIO investigating 20; RDs investigating 38 cases in misuse of corporate structure/ fraud Financial Year 2020-21

The Ministry of Corporate Affairs (MCA) has ordered for investigation and assigned to Serious Fraud Investigation office (SFIO) and Regional Directors (RDs) in the cases where there are allegations of misuse of corporate structure/ fraud....

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Posted Under: Company Law |

Sanction for prosecution accorded in 366 cases in violation of CSR provisions

Whenever any violation of CSR provisions is reported, action against such non-compliant Companies are initiated as per provisions of the Act after due examination of records and following due process of law....

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Posted Under: Company Law |

Format of Resignation Letter by Director

Date: ———— To The Board of Directors [Name of the Company] [Address———-] Sub: Resignation Letter Dear Sir/Madam, I, ———————- R/o —————————————————–,...

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Posted Under: Company Law |

No Objection Certificate by Owner of Premise for use as address by Company

TO WHOMSOEVER IT MAY CONCERN I, ———————— R/o ——————————————- do hereby solemnly certify that I am rightful and absolute owner of the premise situated at <Address of Premise to be use by the Company). I fur...

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Posted Under: Company Law |

Format of Board Resolution for Taking note of Resignation Letter of Director

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE MEETING OF THE BOARD OF DIRECTORS OF ————————————–PRIVATE LIMITED HELD ON TUESDAY, MARCH 16, 2021 AT 12.00 PM AT THE REGISTERED OFFICE OF THE COMPANY AT ————————&...

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Posted Under: Company Law |

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