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...
And now it is the turn of corporate India to go green and follow steps to ensure conserve nature and environment. Thanks to the green initiative taken by Ministry of Corporate Affairs (MCA) of Central Government recently whereby the age old system of serving of document by corporates to its shareholders by physical mode under posting certificate (UPC) has been relaxed. With such a non- mandatory directive from MCA, many companies, especially the big ones with large shareholders base and those who are good governance conscious have responded to this initiative positively by requesting their shareholders to agree for electronic documents such as annual report.
From Next month you can register a company in India in 24 hours! The Union ministry of corporate affairs has set the first week of July as the target date for launching a completely digitised service that will allow anyone with all relevant documents and approvals to complete the process of registering a company in one day.
In supersession of this Ministry’s Circular No. 9/2011, dated 31-3-2011 and 25/2011 dated 12-5-2011, Ministry of Corporate Affairs hereby mandated certain class of companies to file Balance sheets and Profit and loss Account along with Director’s and Auditor’s Report for the year 2010-11 onwards by using XBRL taxonomy. The Taxonomy Business Rules, Validity tools etc. required for preparation the above documents in XBRL format as the existing Schedule VI and Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 have been prepared and hosted on the website of the Ministry at www.mca.gov.in . The Frequently Asked Questions (FAQs) about XBRL have been framed by the Ministry and they are being annexed as Annexure I with this circular for the information and easy understanding of the stakeholders. To enable filing on XBRL by stakeholders, MCA-21 portal will have XBRL filing module by July, 2011. Actual date will be informed separately.
In order to provide regular route for fast track exit by defunct company, for getting its name struck off from the register of companies, Ministry of Corporate Affairs (MCA) has decided to modify the existing route through e-form 61 and has introduced Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956. This scheme is launched to give an opportunity for fast track exit by a defunct company, for getting its name struck off from the register of companies. Such companies may make an application to the Ministry of Corporate Affairs in the eForm FTE, accompanied by filing fee of Rs. 5,000/-
No 17/143/2011-CL.V, Dated: 06.06.2011 The Ministry of Corporate Affairs is considering to issue Companies (Dematerialization of Certificates) Rules, 2011 so that 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, shall be required to issue and keep such share certificates, debenture certificates and certificates issued for receipt of deposits, stock, bond or any other financial instruments in dematerialized form only, in the manner prescribed in the Depositories Act, 1996 and regulation made there under.
The Ministry has issued General Circulars No. 27/2011 and 28/2011 dated 20.05.2011 whereby it was clarified that a shareholder or a director of the company may participate in meetings under the provisions of the Companies Act, 1956 through electronic mode. In order to have better understanding of the circular, it is further clarified as under: — (i) It is not mandatory for companies to provide its directors, the facility to attend meetings through video conferencing.
The Circular defines electronic mode to mean video conferencing facility i.e. audio-visual electronic communication facility (VCF) employed which enables all persons participating in that meeting to communicate concurrently with each other without intermediary and to participate effectively in the meeting. The Circular clarifies that shareholders of a company may participate in a General Meeting under the provisions of the Act through electronic mode.
Government of India [GOI], Ministry of Corporate Affairs [MCA] has clarified its position on the Corporate Governance procedures under Companies Act, 1956 [the Act]. MCA has, on 20 May 2011, issued the General Circular No. 28/2011 [No. 17/95/2011/CL.V] dated 20 May 2011 relating to participation by directors in the meeting of Board / Committee of Directors [Board Meeting] through electronic mode. The Act provides that minimum 4 Board meetings be held every year and at least 1 Board meeting must be held every 3 months. The Act does not specify participation in the Board Meeting through electronic mode.
Under Section 81 (1A) of the Companies Act, a public company may make a preferential allotment of shares only by passing a special resolution in a general meeting. On 24 May 2011 the Ministry of Corporate Affairs has issued a new set of draft rules [Unlisted Public Companies (Preferential Allotment) Rules, 2011] to replace the Unlisted Public Companies (Preferential Allotment) Rules, 2003. The draft rules which provide for greater compliance and disclosure requirements are open for public comments upto 20 June 2011.
Companies (Cost Accounting Records) Rules, 2011 These rules shall apply to every company, including a foreign company as defined under section 591 of the Act, which is engaged in the production, processing, manufacturing, or mining activities and wherein, the aggregate value of net worth as on the last date of the immediately preceding financial year exceeds five crores of rupees; or 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 twenty 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.
