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Applicability of CrPC, 1973 to proceedings before Special Court designated U/s. 435(1) of Companies Act, 2013

Applicability of Code of Criminal Procedure, 1973 (CrPC 1973) to the proceedings before the Special Court designated under Section 435(1) of the Companies Act, 2013 It is submitted that Section 2(29) (Definition of Court) of the Companies Act, 2013 (“Act, 2013”) has been notified on 12.09.2013 except clause (iv). Later on, in exercise...

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Posted Under: Company Law |

Detailed Comparison of CARO 2020 with CARO 2016

Section 143 (11) of the Companies Act, 2013 stipulates that the Central Government may order for the inclusion of statement on specified matter in the auditor’s report for specified class or description of companies. Accordingly, CARO 2016 was issued in pursuance of Section 143 (11) of Companies Act 2013 for inclusion of the matters spe...

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Posted Under: Company Law |

Analysis of 3 Company Law Notification dated 18.12.2020

Ministry of Corporate Affairs (MCA) has vide its notifications dated 18th December 2020, issued amendment in following rules: 1. Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2020: MCA has relaxed certain provisions under the law w.r.t. mandatory online proficiency self-assessment test that one has to under...

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Posted Under: Company Law |

Annual Compliance calendar for Unlisted Companies for FY 2020-21 (Companies Act, 2013)

Annual Compliance calendar for Unlisted Companies for the Financial Year (FY) 2020-21 [Under the Companies Act, 2013] Sr. No. Compliance Section & Rule Form Occurrence Due Date 1.        Intimation by Director about disqualification Section 164(2) of the Companies Act, 2013 read with Rule 14(1) of the Companies (Appointment and ...

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Posted Under: Company Law |

Adjudication of Penalties under Companies Act 2013- Analysis

What is an Offence? The term ‘Offence’ is not defined under the Companies Act 2013 (the ‘Act’). Sec 3(38) of the General Clauses Act, 1897 ‘Offence’ means any act or omission made punishable by any law for the time being in force. Section 2(n) of the Criminal Procedure Code ‘Offence’ means a...

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Posted Under: Company Law |

Loan to Directors etc. – Deletion of Non-obstante clause by Companies (Amendment) Act, 2017

Loan to Directors etc. – Deletion of Non-obstante clause by the Companies (Amendment) Act, 2017  Section 185 of the Companies Act, 2013 (CA, 2013) was notified on September 12, 2013 and came into force on the same date replacing the old Section 295 of the Companies Act, 1956 (Erstwhile Act) which provides for loans to directors. ...

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Posted Under: Company Law |

Section 8 Company-Exemptions & Applicability of provisions

Compendium of Exemptions and Applicability of provisions under Companies Act, 2013 with modifications Ministry of Corporate Affairs (‘MCA’) vide notification dated 5th June, 2015, exempted Section 8 Companies from complying with certain provisions of the Companies Act, 2013 (‘Act, 2013’ or ‘Act’ or CA 2013) as ...

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Posted Under: Company Law |

Application to Central Government by Nidhi Companies

As per Nidhi (Amendment) Rules, 2019, Rule 3A, 23A & 23B was inserted in Companies (Nidhi) Rules, 2014 which came into effect w.e.f. 15.08.2019. Accordingly Every Nidhi company whether incorporated before or after 15.08.2019 are required to get itself declared as Nidhi by filing form NDH-4. > Rule 3A of Companies (Nidhi) Rules, 201...

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Posted Under: Company Law |

Loan to Directors etc. – Exemption to Private Company -Still available?

Loan to Directors etc. Exemption to Private Company by Notification June 5, 2015-Whether still available after Companies (Amendment) Act, 2017 [Ref: Exemption Notification No GSR 464(E), June 5, 2015 & Companies (Amendment) Act, 2017] Section 185 of the Companies Act, 2013 (“CA, 2013”) was notified on September 12, 2013 and came...

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Posted Under: Company Law |

Annual Filing for Companies for Financial Year Ended on 2020

What is Annual Filing? Annual filing has no definite or fixed definition or explanation. It is a general term used by stakeholders/ professionals in regard to company for filing the mandatory forms to concerned department like Registrar of Companies, Income Tax Department, GST, etc. for containing all the major working of the company. Thi...

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Posted Under: Company Law |