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 ...
Violation of Companies Act – The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that the number of prosecutions filed for the violations of the provisions of the Companies Act, 1956 and disposed of during last three years are as under:-
SFIO – The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that keeping in view the recommendations made by Vepa Kamesam committee, it is proposed to give statutory recognition to SFIO. Besides, powers such as treating its investigation report as a report filed by a Police Officer, giving SFIO power to issue letter of requests (letter Rogatory) in cases involving companies having business/interests outside the country and definition of the term ‘fraud’ alongwith its punishment are also proposed to be included, subject to due approvals, in the revised Companies Bill for strengthening its enforcement framework.
Companies which had raised funds through Initial Public Offer were identified as Vanishing Company for (i) non maintaining of their registered office; (ii) non- traceability of directors(iii) non- filing of statutory returns/ listing requirements with the concerned Registrar of Companies / Stock Exchange for a period of 2 years.
In exercise of the powers conferred by clauses (e) and (t) of sub-section (2) of Section 38A, read with Section 29C and sub-section (1) of Section 29D of the Company Secretaries Act, 1980 (56 of 1980), the Central Government hereby makes the following amendments in the Company Secretaries Procedures of Meetings of Quality Review Board.
Expressing hope that the Companies Bill, 2009, will be passed by Parliament in 2011, the Corporate Affairs Minister, Veerappa Moily, today said his ministry was ready with the Cabinet note for the legislation. Companies Bill will be passed, if not in this (monsoon) session, (then) definitely in the winter session, Moily told reporters on the sidelines of a FICCI meet here.
XBRL is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language for transmitting information via the Internet. It was developed specifically to communicate information between businesses and other users of financial information, such as analysts, investors and regulators. XBRL provides a common, electronic format for business reporting. It does not change what is being reported. It only changes how it is reported
Since 2006, this Ministry has implemented MCA-21, an e-Governance project, which has increased transparency as the data available in the public domain can be viewed by any person. The Ministry has also evolved a system generated ‘Early Warning System’ to help in detecting likely fraud at an early state. In the process of development of Early Warning System (EWS), the Ministry has identified certain Risk Parameters which can be run on the data available with the MCA, on financial statements furnished by the companies in e-forms developed by the Ministry.
The Ministry of Corporate Affairs has simplified procedures under MCA-21 to enable registration of a company within 24 to 48 hours where there is no difficulty about availability of name etc. The various elements of this process are; (i) Director Identification Number is allotted online on the basis of verification certificate given by the practicing Chartered Accountant or Company Secretary or Cost Accountant.
India is also moving towards this revolution. The Ministry of Corporate Affairs vide General Circular No.37/2011 dated June 7,2011, has made it mandatory for all the companies listed in India and their subsidiaries, all companies having a paid up capital of 5 Crore and above and all companies having turnover of 100 Crore and above to file their 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.XBRL refers to Extensible Business Reporting Language for generating, aggregating and analyzing business and financial data.
The Ministry of Corporate Affairs, in exercise of the powers under Section 611(2) and 637B (b) of the Companies Act, 1956 has decided to introduce a Scheme namely, ‘Company Law Settlement Scheme, 2011,’condoning the delay in filing documents with the Registrar, granting immunity from prosecution and charging additional fee of 25 percent of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules made there under. The orders issued to this effect vide the ministry’s General Circular No. 59 of August 05, 2011 are in order to give an opportunity to the defaulting companies to enable them to make their default good by filing such belated documents and to become a regular compliant in future. This scheme is effective from today and will remain in force up to 31st Oct, 2011.
