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 ...
General Circular No. 4/2012 – The Ministry of Corporate Affairs has extended the time for filing form DIN-4 by DIN holders for furnishing PAN and to update PAN details upto 30.04.2012 for the Allotment of Director’s Identification Number (DIN) under Companies Act, 1956.
Considering the fact that the entire claim in the instant application is based on the declaration made in the statement of affairs which was on the basis of the realisable value indicated in Ex. R1 and in that regard, if the view taken by this Court in the case of the Official Liquidator, Bangalore Batteries (P.) Ltd. (In Liquidation) v. N.S. Gopal [2010] 103 SCL 164 (Kar.) is noticed, it would be clear that the proceedings under Section 543 cannot be initiated merely based on the realisable value of the assets indicated.
This Concept Paper on National Corporate Governance Policy, 2012 prepared by ICSI is aimed at laying down an overarching policy framework for promoting good governance practices amongst corporates by instilling principles of good governance in the various statutes, regulations and policies of the Government as applicable to corporates.
The Ministry of Corporate Affairs has clarified that Circular No. 19 and 20 of 2011 issued on 02.05.2011 that were issued for laying down certain procedure to regulate cases wherein filing of conflicting returns with regard to appointment of Directors or change of Director/Directors have now been superseded. This has been done in the light of some specific cases wherein it appears that either there was lack of consent of the removed/changed director or due process of Law were not followed.
Concerns relating to the quality of corporate governance system and the need to maintain its integrity and public accountability have resulted in a number of public interventions all over the world including the well known Cadbury Code (1992) and the Sarbanes-Oxley Act (2002) of the UK and US respectively. In India, too, a few elements of good corporate governance find mention in legal frameworks like the listing agreement of SEBI and a few of the provisions of the Companies Bill 2011. More detailed guidelines are also available, including the Voluntary Code on Corporate Governance of the CII (1998) and the National Voluntary Guidelines on Corporate Governance of this Ministry (2009) which are currently under revision by a Committee under the Chairmanship of Shri Kiran Karnik.
I am directed to say that at the time of incorporation of companies where one of the objects is to carry on the business of Banking, Insurance or to practice the profession of Chartered Accountancy, Cost Accountancy & Company Secretaries, then the concerned Registrar of Companies shall incorporate the same only on production of in-principle approval / NOC from the concerned regulator/professional Institutes.
To file a petition u/s 397, 398 of the Act, one has to fulfil the requirement as contemplated under the above provision of law. Unless and until the above criterion is fulfilled, the petition is not maintainable. The persons who can qualify to file the petition are (i) in case the company is having a share capital, not less than 100 members; or (ii) not less than 1/10th of the total number of its members, whichever is less.
Under section 399 of the Act, statute has made it clear that 10 per cent shareholding is requisite qualification to invoke jurisdiction under sections 397 and 398 of the Act. If the joint shareholding of first petitioner has become half, then certainly this petition is short of the requisite qualification that is required under section 399 of the Act.
This is an application for the winding up of Tantia Constructions Ltd. (hereinafter the company). It is made by a Malaysian company by the name of Road Builder (M) Sdn Bhd, (hereinafter the petitioning creditor). These two companies entered into a joint venture agreement on 14th July, 2003 for setting up a project in the State of Mizoram. After sometime, the company pulled out of it. They entered into a different relationship. The petitioning creditor agreed, on 15th December, 2007, to sell to the company plant, machinery and vehicles at a total consideration of Rs. 2,75,73,614.41/-.
There is no conflict between the statutory relief of winding up and of the contractual right to have disputes settled by arbitration. Once a bona fide defence is shown to exist, arbitration will be the efficacious and proper remedy. Where, however, the defence is mala fide and a moonshine, arbitrable disputes would not exist and the company judge would have the power to pass appropriate orders Madhya Pradesh Iron & Steel Co. (supra). Existence of an arbitration clause does not oust the jurisdiction of this court to either entertain or to admit a petition for winding up.
