Company Law news

Companies will not be allowed to get away by just paying fines

Concerned over the increasing instances of financial wrongdoings by corporate, the government on Sunday said those who are guilty would not be let off just by payment of some fine. “We are making stiff provisions under the new Companies Bill, 2008. The number of crimes for which provisions of compounding are available under the pres...

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Satyam's board had violated Section 372A of the Companies Act

 The RoC’s findings which it said will be made final after all documents are made available suggest that in approving the acquisition of 100 per cent in Maytas Properties and 51 per cent in Maytas Infrastructure, Satyam’s board had violated Section 372A of the Companies Act. Sub-section 1 of Section 372A stipulates that no co...

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Make independent directors accountable: Suggestions for Companies Bill, 2008

The fraud admitted by the promoter of Satyam Computer Services demonstrates the ineffectiveness of the present Company Law in ensuring corporate governance. Facts about how the board approval was obtained for Satyam’s ‘investment’ in Maytas are not yet in the public domain. Company chairman Ramalinga Raju now says the ab...

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Company Law under Slowdown Specter

The global economic meltdown may bring in a major change in the final layout of the new company law, which is now being considered by a Parliamentary Standing Committee. The Companies Bill 2008, which aimed to reduce government intervention in Internal affairs of the companies and substitute it with disclosures and their self- regulation,...

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MCA Forms under Goes – Varies Changes – Pl Note

Following forms going to be revised with effect from 6th Dec. 08:- new version of Form 1AA, 1AD, 2, 3, 5, 8, 10, 15, 17, 19, 20, 20A, 21,22B, 23, 23AA, 23AAA, 23AAB, 23AAC, 23B, 23C, 24, 24A, 24AB, 24B, 25A,25B, 25C, 35A, 36, 37, 39, 44, 49, 52, 61, 62, 63, 64, 65, CAR, DD-B,DD-C, Form PT-II, Form I & Form II will be available on the Port...

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Calculators- Income Tax, 234ABC Interest, NSC- KVP Interest, TDS, FBT, ROC Fees

Download Fringe Benefit Tax Calculator Income Tax Calculator Kvp Interest Calculator Nsc Interest Calculator Roc Fees Calculator Tds Calculator in excel...

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Companies Bill, 2008 Introduced In Lok Sabha October 23, 2008

The much-awaited Companies Bill, 2008 has been introduced in the Lok Sabha. Minister of Corporate Affairs, Shri Prem Chand Gupta introduce the Bill to consolidate and amend the law relating to companies. Two days ago, i.e., on 21.10.2008 Shri Gupta had withdrawn the Companies (Amendment) Bill, 2003 which was introduced in the Rajya Sabha ...

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Income Tax Department To Share Info On Tax Evasion With MCA

The Ministry of Corporate Affairs (MCA) has asked the income-tax department to provide all information on tax evasion by listed companies so that it can see whether these firms have violated the provisions of Companies Act as well. “MCA is trying to develop a system that whenever the I-T department finds any such case where there is inc...

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DCA Proposes To Enable Companies to Hold the Board Meetings through Electronic Means

The Department has received proposals to allow such meetings and it has held extensive consultation with various shades of opinion. It also asked the Institute of Company Secretaries to examine this matter and to organize consultation with companies and other stake holders. Finally, the Department has decided to allow such meetings of the...

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Now E- Form 23AC Can Be Filled In Without Getting SRN of Form 23B – Instruction Kit Revised

Now e- form 23AC can be filled in without getting SRN of form 23B The Ministry of Corporate Affairs (Ministry) has revised e-form 23AC effective from 28th September 2008 wherein filling in SRN of 23B was made compulsory. In many a cases, it was reported by our members that SRN of form 23B was not available which ultimately resisted to fil...

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