Company Law - Page 483

Notification No. G.S.R. 80(E), dated 17.02.1997

Notification No. G.S.R. 80(E) (17/02/1997)

In exercise of the powers conferred by sub-section (2) of section 530 of the Companies Act, 1956 ( I of 1956) the Central Government hereby notifies that the sum to which priority shall be given under clause (b) of sub section (1) of section 530 of the said Act with effect from 1st day of March, 1997 shall not in case of any one claimant,...

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Revised Cost Audit Order on annual basis issued to the existing companies

General Circular No. 52/11/93-CAB (08/06/1993)

You may be aware that the Department of Company Affairs have recently issued revised annual cost audit orders for the financial year ending 31.3.1994 and continuously thereafter to all those companies which were previously subjected to cost audit for every alternate financial years. A list containing the names of these companies is being ...

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Maintenance of books of cost accounts as per Cost Accounting Records Rules.

General Circular No. 52/11/93-CAB (07/06/1993)

It has been brought to the notice of this Department that many of the companies for which maintenance of books of accounts have been made mandatory under Section 209(1)(d) of the Companies Act, 1956 and Cost Accounting Records Rules prescribed, have failed to keep such books of accounts in the manner indicated thereunder...

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Yashovardhan Saboo vs Groz-Beckert Saboo Ltd. And Ors. (CLB)

Yashovardhan Saboo Vs Groz-Beckert Saboo Ltd. And Ors. (Company Law Board)

One of the tests of what constitutes 'oppression' within the meaning of Section 397 of the Act is to see whether the majority is taking an unfair advantage of their position as a majority. The second test is to find out whether in the exercise of the fiduciary power, the group concerned was attempting to destroy the existing majority or t...

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Modification in sections 217(e)(1), 620 of the Companies Act 1956

Notification No. G.S.R. 769(E) (10/09/1990)

In exercise of the powers conferred by sub-section (1) of sectio,i 620 of the Companies Act. 1956 ( I of 1956). the Central Govern­ment hereby directs that the provisions of clause (e) of sub-section (1) of section 17 of the said Act read with the Companies....

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General Circular No. 3/8/89-CL.V, dated 05/03/1990

General Circular No. 3/8/89-CL.V (05/03/1990)

directed to refer to your letter no. PD/69/90 dated 19.2.90 on the subject mentioned above and to say that the cost auditor shall be deemed to have concluded his appointment as soon as he renders a report to the Central Government in accordance with the Cost Audit Report Rules. The specified number of companies for the purpose of section ...

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Clarification under Section 224 (1) of the Companies Act, 1956

General Circular No. 35/1/90-CL.III (02/03/1990)

directed to refer to your letter no. CLC/79/89 dated 8th January, 1990 on the subject mentioned above and to say that while giving a certificate in terms of provision to sub-section 224 of the Companies Act, 1956, the auditor or auditors will not take into account the actual appointments as auditors in the companies but also their propose...

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Authentication of previous year figures in the Cost Audit Report

Notification No. 52/430/88-CAB (09/01/1990)

After a careful examination of the statement made by the cost auditors, the Department is of the view that it would be more appropriate if while mentioning the figures for previous year, the Cost Auditor certifies the position by means of note that figures so stated are on the basis of information furnished by the management, for which he...

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General circular No. 52/354/CAB -87, dated 30/08/1988

General circular No. 52/354/CAB -87 (30/08/1988)

Under the provision of S. 233B of the Act and the Cost Audit Report Rules made thereunder, the Cost Auditor after the submission of the Cost Audit Report has to furnish replies to all the supplementaries, queries from the Department of Company affairs arising through a review of the Cost Audit Report. A question has arisen as to when the...

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General Circular No. 52/409/80-CAB, dated 24/08/1984

General Circular No. 52/409/80-CAB (24/08/1984)

Authentication of Cost Audit Report in cases where a firm of Cost Auditors is approved under U/s 233B (2) of the Companies Act, 1956 for conducting Cost Audit....

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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.

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