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...
The Companies Act of 2013 has done away with the relaxation to private companies in several provisions. The concept of not applicable to private company is no more in existence in the Act of 2013. Such a move in the Companies Act of 2013 has taken away certain privileges enjoyed by private companies.
MCA has notified the Companies (Auditor’s Report) Order, 2015 (CARO, 2015) on 10th April, 2015. There was a lot of debate amongst professionals as to whether CARO will be applicable for the audit of the financial year 2014- 15. MCA has finally ended the debates by notifying CARO.
As we all know that a Company being an artificial person does not have a physical presence, it acts through its Board of Directors for carrying out its activities and for entering into various agreements. Therefore, Company uses Common Seal as its Signature. Common Seal is the signature of the company to any document on which it is affixed and binds the company for all obligations undertaken in the document.
For the benefit of the members, following is a reference table of reporting clauses of CARO, 2015 and the corresponding paragraphs of the Statements on CARO, 2003, wherefrom relevant guidance can be drawn (subject to necessary changes in the context of the provisions of the Companies Act, 2013 and the Rules issued thereunder):
Clarification on Auditor’s Report In Respect Of Financial Statements of a Company for Accounting Years Beginning Before 1st April, 2014. The Ministry of Corporate Affairs vide its General Circular No 07/2014, Dissemination of Information With Regards to the Provisions of the Companies Act, 2013 as Notified Till Date vis a vis Corresponding Provisions of the Companies Act, 1956, dated 01st April 2014
Section 143 of the Companies Act, 2013 deals with the powers and duties of the auditors of companies. Section 143(1) of the Act requires the auditor to make certain specific enquiries during the course of the audit. Section 143(2) of the Act requires the auditor to, inter alia, give his report to the members of company on the accounts examined by him,
Extract of Section 7 of Companies Act,2013- Incorporation of company (1) There shall be filed with the Registrar within whose jurisdiction the registered office of a company is proposed to be situated, the following documents and information for registration, namely:— (a) the memorandum and articles of the company duly signed by all the subscribers to […]
According to Wikipedia the term Auditing is defined as a systematic and independent examination of data, statements, records, operations and performances (financial or otherwise) of an enterprise for a stated purpose. In any auditing the auditor perceives and recognizes the propositions before him/her for examination, collects evidence, evaluates the same and on this basis formulates his/her judgment which is communicated through his/her audit report.
What is LLP- LLP is a way between Company and Partnership. It takes into account the benefits of both i.e. less legal and regulatory formalities as compared to Company and a Corporate Entity form which is not in the case of Partnership. Exemption from Audit- Rule 24(8) exempt the LLP from the Audit of its accounts if its turnover does not exceed, in any financial year, Rs.40 lakhs or its contribution does not exceed Rs. 25 Lakhs.
In case of One Person Company’s Memorandum and Article of Association should indicate the name of the person incorporating the company as well as the name of another person also who will become the member of the company in the event of subscriber’s death or incapacity i.s nominee of the company.
