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 : The process of striking off a private limited company refers to the removal of a company’s name from the Register of Compani...
Company Law : Appointment of other officer such as CTO, COO, and CMO as Key Managerial Personnel (KMP) under Companies Act, 2013 – Key Con...
Company Law : Private Limited Companies in India ought to observe annual filing necessities to keep transparency and prison standing. This artic...
Company Law : Cost audit and cost records serve as essential tools for achieving these objectives, enabling companies to monitor, control, an...
Company Law : Understand CSR in India, its applicability, permitted activities, non-permitted contributions, penalties for non-compliance, and r...
Company Law : The government addresses SFIO cases, IBC amendments, CSR compliance, and ESG reporting norms for publicly traded companies....
Company Law : Understand MCA V3 user types, registration, and login. Learn how to update profiles and resolve common issues....
Company Law : Find the provisional list of audit firms of listed companies that haven't filed NFRA-2 forms for the reporting period 2023-24. Upd...
Company Law : The Companies Act 2013 mandates corporate governance, transparency, and CSR reporting. Key provisions include financial disclosure...
Company Law : Understand the compliance regime for private limited companies in India, including business closure timelines and government measu...
Company Law : When the corporate debtor failed to pay the outstanding power obligation, appellant subsequently cut off the electrical service. O...
Company Law : The plain reading of the above provisions of Section 60(5)(c) clearly indicates that the NCLT is empowered to adjudicate any quest...
Company Law : NCLAT Delhi quashes CIRP against Alcuris Healthcare, ruling profit-sharing disputes do not constitute operational debt under IBC. ...
Company Law : NCLAT dismisses appeals in Saturn Ventures case, upholding RP’s findings on asset ownership and rejecting fraudulent transaction...
Company Law : NCLAT Delhi held that Liquidator is jurisdictionally empowered to proceed with private sale of Corporate Debtor by adopting Swiss ...
Company Law : The appeal by Maptech Poly Products Pvt Ltd against a penalty for non-maintenance of its registered office was dismissed by the Re...
Company Law : Vishnupriya Hotels' appeal led to a penalty reduction for non-compliance with Section 149(3) of the Companies Act. The company pai...
Company Law : Vishnupriya Hotels appealed against CSR non-compliance penalties. The Regional Director reduced the fine after reviewing submissio...
Company Law : Konoria Plaschem faced penalties for failing to appoint an internal auditor from 2014-2020. The fine was reduced on appeal. Read t...
Company Law : Water & Sanitation (India) for Urban Poor failed to hold board meetings from 2011-2019, leading to penalties. The fine was later r...
In exercise of the powers conferred by sub-rule (1) of rule 5A of the Companies (Central Government’s) General Rules and Forms, 1956, the Central Government hereby appoints the Assistant Commissioner of Income-tax, Guwahati, as the prescribed authority for the purposes of clause (a) of sub-section (IA) of Section 108 of the Companies Act, 1956 (I of 1956).
Ministry of Corporate Affairs [MCA], Government of India, has on 3 March 2011, hosted on its website, the revised Schedule VI to the Companies Act, 1956 which deals with the Form of Balance sheet, Profit & Loss Account and disclosures to be made therein. The revised Schedule VI has been framed as per the existing non-converged Indian Accounting Standards notified under the Companies (Accounting Standards), Rules, 2006 and has no connection with the converged Indian Accounting Standards.
General Circular No: 32/2011 dated 31/05/2011, 66/2011 Dated 4/10/2011, 70/2011 dated 15.12.2011 and 04/2012 dated 09.03.2012, Ministry of Corporate Affairs has mandated providing Income-tax Permanent Account Number (Income-tax PAN) for obtaining Director Identification Number (DIN) in case of Indian nationals.
Currently, payment for MCA21 services is required to be made at the time when the E Form is uploaded and the SRN gets generated. But now the Ministry has introduced ‘Pay Later’ facility through which user can upload the eForm and can generate SRN for MCA21 services in one step and make the payment at a later point** by using the online payment modes of Credit card or Internet banking only.
Chapter VII of the Companies Act deals with winding up procedures to be followed for liquidating the affairs of the company. The present Companies (Court) Rules, 1959 framed by the Hon’ble Supreme Court of India supplement the winding procedures and it has the effect of an act of Parliament. It provides for every segment of liquidation exhaustively till dissolution of a company in liquidation. However, there are certain areas where various High Court issues instructions to carry out a certain function in a particular manner thus leading to variation from the procedure followed by one Official Liquidator to the another Official Liquidator in the same matter.
Registration of Companies The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that Under the Companies Act, 1956, there is no specific provision for mandatory registration of foreign companies engaged in on-line business practices. However, keeping in view the present scenario which has been witnessing a large number of business transactions through electronic mode, the Government has proposed to modify the definition of term ‘foreign company’ under the Companies Bill, 2011 to provide for effective regulation of such entities. Clause 2(42) of the Bill, defines the term ‘foreign company’ to mean any company or body corporate incorporated outside India which,-
Implementation of XBRL The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Ministry has set up a committee in November 2011 comprising of XBRL experts and representatives from the corporate sector as well as the Institute of Chartered Accountants of India (ICAI) with the […]
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that The term ‘Vanishing Companies’ is applied both to the Companies which cease to file their statements of return or where, after raising capital, the whereabouts of their Registered Office or their Directors are not known. A Central Coordination and Monitoring Committee was constituted in 1999 to identify such companies and recommend further action against them.
Replying to a written question the Minister said in addition to penal action, the companies, their directors/company secretaries who have defaulted in filing their Balance Sheets and Annual Returns for 2006-07 to 2009-10 are debarred to file any document except certain event based information till they make the default good. Such defaulting companies are identified on line through MCA-21 e-governance portal.
In continuation of this office O.M. of even number dated 7.03.2012 the undersigned is directed to say that Shri Sudhir Additional Secretary in this Ministry shall be the nominee of the Ministry of Corporate Affairs in the Committee to formulate a policy document on Corporate Governance.
