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 CARO, 2020 guidelines for reporting loans, guarantees, security, and investments by companies to ensure compliance and...
Company Law : Ensure compliance with updated Reporting on Audit Trail under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 for 202...
Company Law : Explore various threshold limits under the Companies Act, 2013, with detailed compliance requirements for listed, public, and priv...
Company Law : Understand the latest changes in DIR-3 KYC, including rules for updating email IDs and mobile numbers, fees, and filing details. L...
Company Law : Understand the nuances of signing board reports and financial statements under Companies Act and SEBI (LODR). Learn who must sign ...
Company Law : Explore ICMAI detailed analysis of the Govt. committee report on enhancing cost audit effectiveness. Read insights & recommendatio...
Company Law : Discover the challenges faced by the Institute of Company Secretaries of India in filing Form DPT-3 for FY 2023-24. Learn about te...
Company Law : Explore the challenges faced by newly incorporated companies regarding mandatory ESI and EPF registrations in India, with proposed...
Company Law : Delve into the NFRA order controversy with detailed analysis on penalty imposition, opinion disparities, and key issues. Gain insi...
Company Law : Explore the issues and challenges in processing MCA forms at CPC. Learn about the proposed solutions for timely approval and the i...
Company Law : It is not the scope & objective of IBC to include Banks Financial Institutions who advanced loans to Home Buyers to be considered ...
Company Law : Explore the Calcutta High Court's decision in Uphealth Holdings, INC. Vs Dr. Syed Sabahat Azim & Ors. regarding the applicability ...
Company Law : Read the full NCLT judgment where Zee Entertainment Enterprises Limited sought to withdraw its merger with Sony Groups, impacting ...
Company Law : Explore the implications of issuing duplicate debenture certificates under the Companies Act, 2013. Learn about legal remedies, as...
Company Law : Explore the detailed judgment in the Grand Developers Pvt. Ltd. vs. Nitin Batra & Ors. case by NCLAT Delhi, including key argument...
Company Law : Discover the key changes in the Nidhi (Amendment) Rules, 2024. Learn how the new rules impact Nidhi companies and their naming con...
Company Law : General Circular No- 07/2024: Forms IEPF-3 merges with IEPF-4 and IEPF-7 with IEPF-1 in MCA Version 3. Simplifying compliance for ...
Company Law : Circular No. 06/2024 MCA has waived the additional fee for filing various IEPF e-forms (IEPF-1, IEPF-1A, IEPF-2, IEPF-4) and e-ver...
Company Law : IEPF Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2024: Streamlining online transfers and updated forms. Re...
Company Law : Check out the latest Companies (Incorporation) Amendment Rules 2024 issued by Ministry of Corporate Affairs, omitting word Nidhi f...
What is the status of the 44 Cost Accounting Records Rules issued till the date of issue of Companies (Cost Accounting Records) Rules 2011 and what is its applicability? The Companies (Cost Accounting Records) Rules 2011 has superseded 36 cost accounting record rules [refer Annexure 1 of this FAQ]. The said Rules are applicable to all companies engaged in production, processing, manufacturing and mining activities as defined under Rules 2(j), 2(k), 2(l) or 2(o) respectively and where:
F. No. 52/26/CAB-2010 In exercise of the powers conferred by sub-section (1) of section 233B of the Companies Act, 1956 (1 of 1956), the Central Government, being of the opinion that it is necessary to do so, hereby directs that all companies to which the Companies (Cost Accounting Records) Rules, 2011 apply, and which are engaged in the production, processing, manufacturing or mining of the following products/activities, including intermediate products and articles or allied products thereof, and wherein the aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediately preceding financial year exceeds hundred crores of rupees; or wherein the company’s equity or debt securities are listed or are in the process of listing on any stock exchange, whether in India or outside India, shall get its cost accounting records, in respect of each of its financial year commencing on or after the 1st day of April, 2011, audited by a cost auditor who shall be, either a cost accountant or a firm of cost accountants, holding valid certificate of practice under the provisions of Cost and Works Accountants Act, 1959 (23 of 1959).
Proposed guidelines for conversion of section 25 company (non profit company) to an ordinary company under Companies Act, 1956. – The Ministry has been receiving representation from various stakeholders to develop a procedure under Companies Act, 1956 for conversion of section 25 company (non-profit company) to an ordinary company because there are a number of section 25 companies which have not done any activity after obtaining license under section 25 or have stopped such activities, and now want to convert themselves as an ordinary company.
Proposed guidelines for strike off name u/section 560 of the Companies Act, 1956 of companies (non profit companies) which have been granted license u/s 25 of Companies Act, 1956 By 15th July – The Ministry has been receiving representation from various stakeholders to develop a procedure for strike off name under section 560 of the Companies Act, 1956 of companies (non profit companies) which have been granted license under section 25 of the Companies Act, 1956. There are a number of section 25 companies which have not done any activity after obtaining license under section 25 or have stopped such activities, and now want to strike off their name under section 560 of the Companies Act, 1956.
The Ministry of Corporate Affairs has clarified that its Circular No.33/2011 issued on June 01, 2011 shall be applicable to those defaulting companies and their Directors which have not filed their Balance Sheet and Annual Return for any of the financial year’s 2006-07, 2007-08, 2008-09 and 2009-10 with the Registrar of Companies as required under sections 220 and / or 159 of the Companies Act, 1956.
The Ministry of Corporate Affairs (MCA) has issued a draft of Companies Dematerialisation of Certificates) Rules, 2011 (Draft Rules) on 6 June 2011 for public comments. Comments are to be sent to MCA latest by 30 June 2011. The Draft Rules are proposed to be made effective from 1 October 2011. The Draft Rules will be applicable to all public companies and their subsidiaries which have raised money by issue of shares, debentures, by accepting public deposits, stock, bond or any other financial instruments from public, other than from directors of the company.
It is noticed that a large number of e-forms filed by the companies with the ROCs prior to implementation of revised regulation 17 of the Companies Regulation, 1956 (i.e. 15.02.2009) are still pending in folders like RESUB, PUCL etc. for want of action on the part of stake holders. Unless the companies respond to this, ROC’s are unable to process the said forms.
Ministry has observed that some listed companies have shown abnormal figure of their shareholders in their Annual Return (e-form no. 20B) filed with the Registrar of Companies. It appears that the signatories of e-form 20B of above companies including certifying practicing professionals have not verified the figures of number of shareholders from the records of the company. It can also be inferred that by putting figure of only 1 (one shareholder) in a listed company, the practicing professionals have not discharged their duties prudently and are liable for professional misconduct.The signatory Directors and company secretaries of these companies are also liable for furnishing wrong information in the Form.
The Registrar of Companies are hereby advised that after the date of implementation of Digital Certificates, no certificates shall be issued manually. All such pending certificates which are required to be issued manually, should be issued by 30th June, 2011.
GENERAL CIRCULAR NO. 39/2011, DATED 21-6-2011- The Ministry has issued a General Circular No. 29/2011, dated 20-5-2011 wherein it was informed that in order to cut timelines and an another step towards ‘Green Initiative’ it has been decided that all certificates and standard letters issued by the Registrar of Companies will now be issued electronically under the Digital Signature of the Registrar of Companies.
