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 : This guide explains the complete legal procedure for transferring a registered office from one State to another under the Companie...
Company Law : This guide explains the legal provisions, procedural steps, and filing requirements involved in converting a public company into a...
Company Law : The article explains the legal framework governing debenture issuance under the Companies Act, 2013. It outlines the types of debe...
Company Law : Section 42 of the Companies Act, 2013 permits companies to raise funds from a select group of investors through private placement....
Company Law : The 2025 amendments significantly expand the scope of fast-track mergers by allowing more categories of companies, including eligi...
Company Law : The MCA has widened CSR eligibility by recognizing subscriptions to Zero Coupon Zero Principal Instruments as a valid CSR activity...
Company Law : Provisional list of audit firms of listed companies yet to file NFRA-2 for 2023-24. Filing deadline was 30.11.2025; fines apply fo...
Company Law : ICSI recommended restoring public access to basic company master data without mandatory login requirements. The representation sta...
Company Law : The issue concerns eligibility and participation rules for the convocation. ICSI has clarified that members who do not attend will...
Company Law : NFRA introduced guidelines to evaluate audit firms’ compliance and quality control systems. The framework emphasizes governance,...
Company Law : The NCLAT held that winding-up proceedings transferred to the NCLT must satisfy the threshold applicable under the IBC at the time...
Company Law : Resolution Professional (RP) was fully justified in seeking possession through the insolvency process itself, the NCLAT affirmed t...
Company Law : The NCLAT held that unregistered profit-sharing agreements do not create leasehold or occupancy rights in immovable property. The ...
Company Law : While approving the resolution plan, NCLT clarified that exemptions relating to taxes, duties, and statutory compliances must be o...
Company Law : A Successful Resolution Applicant (SRA) could not avoid a CoC-approved resolution plan by claiming that the Letter of Intent (LoI)...
Company Law : The MCA has amended the valuation rules to require Registered Valuer Organisations to maintain a minimum paid-up capital of ₹25 ...
Company Law : The Registrar of Companies penalized the company and its authorized signatory after an incorrect document was attached with Form A...
Company Law : MCA amends Schedule VII of the Companies Act to include subscription to zero coupon zero principal instruments on Social Stock Exc...
Company Law : MCA has amended the CSR Rules to recognize zero coupon zero principal instruments issued by Social Stock Exchange-listed NPOs. The...
Company Law : ROC Mumbai held that repeated return of official notices proved non-maintenance of a registered office under Section 12(1) of the ...
The fact that in the 80th AGM held on 30th July 2007, the audited accounts for the financial years ended 31st March 2004, 31st March 2005 and 31st March 2006 were placed and adopted makes it clear that any default in that regard by BSMCL stands condoned. No other shareholder has objected to those accounts. They are taken to be the audited accounts. Neither the ROC nor the RD, nor the OL raised any objection. The objection of Mr. H.K. Chadha that adjustment entries have to be made in the accounts prepared by BRS for an earlier period to arrive at the correct picture cannot, in the above circumstances, be countenanced. No material has been placed on record by Mr. H.K. Chadha to substantiate the plea of non-preparation of the audited accounts of the above financial years.
Further it is clarified that fee payable for forms on/till 16-01-2013 will remain payable along with additional fee and relaxation of any additional fee will be considered for forms on or after 17-01-2013
Cancellation or Deactivation of DIN.- The Central Government or Regional Director (Northern Region), Noida or any officer authorised by the Regional Director, upon being satisfied on verification of particulars of proof attached with the application received from any person seeking cancellation or deactivation of DIN, in case –
Power to relax — Where the Central Government is of the opinion that it is necessary or expedient so to do, it may, by order, for reasons to be recorded in writing . and in consultation with the Union Public Service Commission, relax any of the provisions of these rules with respect to any class or category of persons.
It is observed from the Budget 2013-14 authorizes Union Govt. to raise Rs. 50,000 crores (Tax Free Bonds). These bonds carry a lower rate of interest, currently in the range of 6.75% to 7.50% which is tax free under section 10(15) (iv)(h) of the Income-tax Act, 1961. Such bonds were also provided for in Budget 2012-13, but the response had been poor due to restrictions under section 372A(3) of the Companies Act, 1956.
In its reply dated 19th June 2012 to the notice dated 26th May 2012 the Respondent has denied any liability whatsoever. It is, inter alia, stated in the reply sent by the Respondent through its counsel that “In the facts and circumstances, please advise your client that my client is not liable to pay any sum of US$ 350,000 or any other amount under the Agreement dated 18.05.2008 as alleged.
It is urged by PSPC, on the strength of the decision in Rajasthan Housing Board v. Krishna Kumari [2005] 13 SCC 151, that since the electricity connection was restored to the factory premises in terms of the order dated 18th December 2008 of the Court, the dues of PSPC ought to be directed to be paid straightway by CBL and PSPC should not be relegated to the OL for its dues. The above submission is untenable for more than one reason.
A plain reading of the provisions of Section 188 makes it amply clear that a member who intends getting his proposed resolutions included for circulation to members must have not less than one twentieth of the total voting power of all the members at the date of the requisition or must be not less than 100 members in number to exercise such a right.
Regard being had to the statement of objections the answer to the question as to whether the bearings supplied by the petitioner to the respondent were, in fact, defective or not being a pure question of fact requires an adjudication after a trial. Hence the defence is not a moonshine defence. Since a triable issue has arisen petitioner cannot but be relegated to the Civil Court for appropriate reliefs.
No workmen or employee of the company had appeared to resist the order of winding up. The conduct of those in management of the company in fraudulently selling off assets conservatively estimated at Rs. 2,300 crore makes it just and equitable for the company to be wound up. The company had been unable to show any prospects of it carrying on any business in the near or the distant future. The company’s inability to pay its debts is established and no ground is shown for the company court to exercise its discretion to not wind up the company despite its obvious insolvency.
