Company Law India: Read latest Company law news & updates, acts, circular, notifications & articles issued by MCA amendment in companies Act 2013. Article on Loans Company formation XBRL, Schedule VI IFRS.
Company Law : Learn about the legal procedures for director resignation and removal under the Companies Act, 2013, including compliance with ROC...
Company Law : Understand the process and requirements for converting an unlisted public company into an LLP, including necessary filings and doc...
Company Law : Understand if Form SH-7 is required during the conversion of CCPS to equity shares under the Companies Act, 2013, based on the aut...
Company Law : Learn about Section 203 of the Companies Act, its applicability to private companies, key provisions, and exceptions for companies...
Company Law : Understand stamp duty rules on share transfers in demat form for private limited companies. Covers legal framework, rates, respons...
Company Law : The Government acknowledges MCA-21 glitches, highlights improvements, ensures data security, and implements new features for bette...
Company Law : The Indian government has reduced reporting forms for companies on unclaimed dividends and integrated fund transfers with Bharatko...
Company Law : MCA21 portal saw 80.26 lakh form filings between April 2024 and January 2025, showcasing improved security, user experience, and s...
Company Law : Summary of NFRA's audit quality inspection of Lodha & Co., highlighting key deficiencies in audit documentation, independence poli...
Company Law : NFRA's 2023 inspection of M/s BSR & Co. LLP highlighted improvements in audit practices, independence policies, and documentation ...
Company Law : NCLAT Delhi held that trusteeship deeds are generally signed between the trust on behalf of the lenders and the personal/ corporat...
Company Law : NCLAT Delhi held that CoC decision to liquidate the Corporate Debtor is acceptable as corporate debtor has no assets and thus CIRP...
Company Law : Delhi HC examines NFRA's jurisdiction in issuing show-cause notices to Engagement Quality Control Reviewers (EQCRs) under Section ...
Company Law : The view that NCLT had no jurisdiction to entertain Section 95 Application filed by the Financial Creditor and the Application oug...
Company Law : NCLAT Delhi held that as per expressed provisions of section 101(1) of the Insolvency and Bankruptcy Code, 2016 moratorium period ...
Company Law : Infracx Developers Pvt Ltd penalized for delayed INC-20A filing under Section 10A of the Companies Act, 2013. Total penalty: ₹43...
Company Law : Godrej Tyson Foods Ltd. penalized for failing to appoint a woman director under Section 149(1) of the Companies Act. Penalty inclu...
Company Law : NFRA imposes Rs. 5 lakh penalty and 5-year debarment on CA Neeraj Bansal for professional misconduct during Religare Finvest Ltd's...
Company Law : MCA penalizes Chandrabangshi Nidhi Ltd for violating Section 118(1) of the Companies Act, 2013, due to failure to maintain meeting...
Company Law : United Technologies faces penalties for non-appointment of company secretary under the Companies Act, with fines for company and d...
Corporate social responsibility is related to, but not identical with, business ethics. While CSR encompasses the economic, legal, ethical, and discretionary responsibilities of organizations, business ethics usually focuses on the moral judgments and behavior of individuals and groups within organizations.
Condonation of Delay Scheme 2018 allows the Defaulting Companies (other than the companies which have been struck off/ whose name have been removed from the register of Companies u/s 248(5)) to file its overdue documents which were due for filing till 30.06.2017 in accordance with provisions of the scheme.
The major amendments proposed in the Companies Amendment Bill, 2017 include clarity on definitions for identifying Associate Companies, Holding & Subsidiary Companies, Related Parties etc;, simplification of the private placement procedure, removal of requirement for annual ratification of auditor, rationalization of provisions related to loan to directors, and doing away with the requirement of approval of the Central Government for managerial remuneration above prescribed Limits.
Condonation of Delay Scheme 2018 is applicable to all defaulting companies (other than the companies which have been stuck off/ whose names have been removed from the register of companies. A defaulting company is permitted to file its overdue documents which were due for filing till 30.06.2017.
Once plant commences operation and even if product is substantial and not marketable, the business can said to have been set up. Mere breakdown of machinery or technical snags that may have developed after the trial run which had interrupted the continuation of further production for a period of time cannot be held ground to deprive the assessee of the benefit of depreciation claimed.
Procedure to be followed for the purposes of the Condonation of Delay Scheme, 2018:- A. IN THE CASE OF DEFAULTING COMPANIES WHOSE NAMES HAVE NOT BEEN REMOVED FROM REGISTER OF COMPANIES:-
Condonation of Delay Scheme-2018 is applicable only to active defaulting companies i.e. it is not applicable to those companies which have been struck off from the Register of Companies.
In the month of September, 2017, MCA de activated the DINs of the directors who have not filed the annual returns of the Company. Due to this action taken by the Ministry of Corporate Affairs (MCA), Directors of those companies cannot be appointed in new Companies and no filing could be done of the existing Companies.
MCA has introduced Condonation of Delay Scheme-2018 vide its General Circular No. 16/2017 dated 29.12.2017 to Provide relief to Defaulting Companies and Disqualified Directors. I have compiled Few Frequently asked question (FAQS ) related to Condonation of Delay Scheme 2018 [CODS 2018] which as re as follows:- LIST OF FAQS WITH ANSWERS 1. What is […]
Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited.
