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All about XBRL Applicablity, Proovisions, Benefits & How it works

All about XBRL Applicable to Listed Companies and companies having a paid up capital of Rs. 5 Crore and above or a turnover of Rs. 100 crore or above - eXtensible Business Reporting Language (XBRL) is an open technology standard which makes it possible to store business and financial information in a computer-readable format. Many countr...

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Posted Under: Company Law |

Delegation of powers of Central Government to Regional Directors and Registrar of Companies

Addition to list of powers and functions of the Central Government delegated to ROC: Earlier, the grant of license for formation of a company which intends to apply its profits or other income in promoting its objects (i.e. objects of promoting commerce, art, science, religion, charity or any other useful object) and prohibits payment of ...

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Posted Under: Company Law |

Process of incorporation of Companies and establishment of principal place of business in India by Foreign Companies simplified and e-payment of MCA fee made compulsory

In continuation with their endeavour to help the Corporate sector in India operate with maximum ease in a regulated environment, the Ministry of Corporate Affairs (MCA) has issued two General Circulars (the circulars) in last week in relation to simplifying the process of incorporating a Company in India (General Circular No. 6/2011 dated...

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Posted Under: Company Law |

Payment of MCA filing fees through electronic mode made mandatory

Modification in payment mechanism a) To improve the service delivery time, it is decided that: 1. Payments upto Rs. 50,000 will be mandatorily required to be made through electronic mode w.e.f. 27 March 2011. 2. Payments above Rs. 50,000 - a. Can be made through electronic mode / challan payment between the period 27th March 2011 to 1 ...

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Posted Under: Company Law |

FAQs on Easy Exit Scheme, 2011

What is Easy Exit Scheme (EES), 2011? “Easy Exit Scheme, 2011” is a scheme to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956. ...

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Posted Under: Company Law |

Get SMS Alert for Annual Filing eForms filed with ROC

How can the stakeholder avail the SMS Alert Facility? This facility is available for both, new and registered users. Kindly follow the below mentioned steps to register for the SMS Alert Facility: ...

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Posted Under: Company Law |

Highlights of Revised Schedule VI to the Companies Act, 1956

Major differences between the old and the new Sch VI. Applies to all companies following non-converged Indian Accounting Standards. No possibility of conflict between Accounting Standard and Schedule VI as on modification of accounting standards prescribed under the companies act, Schedule VI would stand modified accordingly ...

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Posted Under: Company Law |

CLB’s power to set-aside Agreements/Contracts under section 397/398?

There can be disputes between majority group and minority shareholders in any Company and these disputes come very frequently in closely held companies or Private Limited Companies. The Companies Act, 1956 provides certain rights to the shareholders ...

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Posted Under: Company Law |

Exemption from attaching accounts of subsidiaries with balance sheet of holding company

Ministry of Corporate Affairs, Government of India (MCA), has on 8 February 2011 issued directions through General Circular No. 2/2011 and Press Note 3/2011 exempting holding companies from attaching specified particulars of its subsidiary companies ...

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Posted Under: Company Law |

Salient Features of Easy Exit Scheme, 2011 available upto 30 April 2011

Companies eligible to avail EES 2011 A defunct company which has active status (for e-filing) on MCA portal can apply under EES 2011. For the purposes of the EES 2011, defunct company has been defined to mean a company registered under the Act ...

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Posted Under: Company Law |