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ICSI Request for relaxation in filing of ROC forms & compliances

While fully appreciating the measures undertaken by the Ministry of Corporate Affairs allowing the Companies to hold their Board Meetings through audio visual means even for the restricted items till 30th June 2020, taking cognizance of the gravity of the public health situation, we request your good-self to kindly consider the relaxation...

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Posted Under: Company Law |

COVID-19- Companies & LLPs to file web Form CAR

The web form named CAR. (Company Affirmation of Readiness towards COVID-19) should be filed by an authorized signatory of Companies & LLPs. CAR-2020 shall be deployed on the 23rd of March, 2020....

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Posted Under: Company Law |

Sensitization of Nidhi companies towards section 406 compliance

Sensitization of Nidhi companies towards compliance of provisions of section 406 of Companies Act, 2013 and Nidhi Rules, 2014 as amended vide Nidhi (Amendment) Rules, 2019 w.e.f 15.08.2019 and general public to invest in genuine and compliant Nidhis only. In order to make regulatory regime for Nidhi Companies more effective and also to ac...

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Posted Under: Company Law |

Allow companies to consider Restricted Matters via video conferencing: ICSI

ICSI has made a request to MCA to allow participation of directors in a meeting through video conferencing or other audio visual means in which following Restricted matters can be discussed which are otherwise not allowed- a) the approval of the annual financial statements; (b) the approval of the Board’s report; (c) the approval of...

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Posted Under: Company Law |

Draft Guidance Note on Companies (Auditor’s Report) Order, 2020

The Ministry of Corporate Affairs has issued the Companies (Auditor’s Report) Order, 2020 (CARO 2020) on 25th February 2020 which is applicable for audits of financial statements for the financial years beginning on or after 1st April, 2019. We hereby inform you that the Auditing and Assurance Standards Board of ICAI is in the process [...

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Posted Under: Company Law |

Nidhi Companies to apply to update their as Nidhi Company

In order to make regulatory regime for Nidhi Companies more effective and also to accomplish the objectives of transparency & investor friendliness in corporate environment of the country, the Central Government has recently amended the provisions related to NIDHI under the Companies Act and the Rules (effective from 15.08.2019)....

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Posted Under: Company Law |

New and innovative measures to improve working in MCA

MCA has taken several initiatives to achieve the vision of being a facilitator of world class governance of corporates and Mission of easing compliance, balancing interest of stakeholders and achieving excellence in service delivery....

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Posted Under: Company Law |

Listing of Indian companies on stock exchanges in foreign jurisdictions

Ministry of Finance Companies (Second Amendment) Bill, 2019 would enable the listing of Indian companies on stock exchanges in foreign jurisdictions. Posted On: 04 MAR 2020 The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the Companies (Second Amendment) Bill, 2019 to amend the Companies Act, 2013. The Ame...

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Posted Under: Company Law |

Cabinet approves removal of Criminality from Companies Act 2013

Companies (Second Amendment) Bill, 2019 would remove criminality under the Act in case of defaults which can be determined objectively and which, otherwise, lack the element of fraud or do not involve larger public interest.  This would also lead to further de-clogging of the criminal justice system in the country....

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Posted Under: Company Law |

Companies incorporated through SPICe+ to file EPFO/ESI returns on crossing thresholds

MCA has clarified on Its website that New companies incorporated through SPICe+ and thereby have obtained EPFO/ESI numbers will have to file statutory returns only when they cross thresholds prescribed under the relevant Acts.  ...

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Posted Under: Company Law |