Companies Act

New Rules of online self assessment proficiency test for Independent Director

Company Law - Notification of MCA Dated October 22,2019 regarding Appointment & Qualification of Independent Directors. A person who wishes to become Independent Director or acting already as an independent director required to cling certain norms & the provisions related to it are as under: The New rules introduces amendments to Companies (App...

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Database of Independent Directors

Company Law - The new Rules has made it mandatory for all companies to appoint individuals as Independent Directors on its Board subject to the Section 150 and enable them to appoint persons having expertise and knowledge....

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How to Appoint Statutory Auditors in Case of Casual Vacancy Due To Resignation of Auditors

Company Law - Procedure For Appointment of Statutory Auditors In Case of Casual Vacancy Arise Due To Resignation of Auditors 1. Procedure: Resigning Auditor should do the following: => Intimate of his resignation to the Company within 30 days of resignation. => File an e-form ADT-3 along with detailed resignation letter with the Registrar of Comp...

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Extension of Time For Annual General Meeting | Section 96 | Companies Act 2013

Company Law - In order to comply with the provisions of the Companies Act, 2013, every company other than the One Person Company is required to hold annual general meeting or AGM within the due date. Defaulting which may attract penalties & complications....

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Can A Incorporated Company Be Considered As Void Ab Initio (void from the beginning) ???

Company Law - Can A Incorporated Company Be Considered As Void Ab Initio (void from the beginning) ??? The incorporation of a company refers to the legal process that is used to form a corporate entity or a company. Section 7 of the Companies Act 2013 and rules made thereunder as amended from time to time are applicable […]...

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Removal of name of company from register of companies- Reg

Company Law - In view of the above, you are kindly requested to permit filing of application by companies for removal of name of companies from register of companies on the ground of non-filing of e-Form 20A for commencement of business on the ground of non-receipt of subscribed money after 180 days of its incorporation....

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Exempt delayed filing fee for DIR-3 KYC for directors of J&K & Ladakh

Company Law - ICSI request MCA for considering granting exemption from delayed filing fee for DIR 3KYC for the directors resident in the UT of Jammu and Kashmir and UT of Ladakh....

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Guidance Note on Division III – Schedule III to Companies Act, 2013

Company Law - Guidance Note on Division III to Schedule III to the Companies Act 2013 provides guidance on each of the items of the Balance Sheet & Statement of Profit and Loss. Few illustrations have also been included on application of the principles provided in the Guidance Note....

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Show cause notice for Non Compliance of Companies Law by MCACMS

Company Law - For issuing Show Cause Notice and receive replies in respect of non-compliance of provisions of Companies Act 2013, MINISTRY OF CORPORATE AFFAIRS has implemented online web portal - Compliance Monitoring System (https://mcacms.gov.in)....

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Disqualification of Directors for Non-Filing of Annual ROC Returns

Company Law - Disqualification of Directors for Non-Filing of Annual Statements or Financial Statements for continuous period of 3 years MCA in September 2017, identified over 3 Lakh directors associated with the companies that had failed to file financial statements or annual returns in MCA 21 online for a continuous period of three financial years 20...

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HC held incorporation of Company vitiated by fraud as Invalid

Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) - Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) 1) We hereby declared that the incorporation of M/s. Colour Books Associates Private Limited (Respondent No.1 Company, is vitiated by fraud and consequently, the Certificate of Incorporation dat...

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NCLAT allows extension of Time to Complete Insolvency resolution process

M/s. Alpha Corp Development Pvt. Ltd. Vs M/s. Earth Infrastructure Ltd. (NCLAT, Delhi) - M/s. Alpha Corp Development Pvt. Ltd. Vs M/s. Earth Infrastructure Ltd. (NCALT) In terms of third proviso of sub-section (3) of Section 12, as we find that the ‘Corporate Insolvency Resolution Process’ of the ‘Corporate Debtor’ is pending and has not been completed within the period referred...

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NCLT cannot direct probe by SFIO into affairs of Company of defrauding creditors & others

Mr. Lagadapati Ramesh Vs Mrs. Ramanathan Bhuvaneshwari (NCLAT Delhi) - Mr. Lagadapati Ramesh Vs Mrs. Ramanathan Bhuvaneshwari (NCLAT Delhi) Section 212 does not empower the National Company Law Tribunal or the Adjudicating Authority to refer the matter to the Central Government for investigation by the ‘Serious Fraud Investigation Office’ even if it notices the aff...

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Proceedings for winding up pending before Company Court can be transferred to NCLT under IBC

Action Ispat & Power Pvt. Ltd Vs Shyam Metalics & Energy Limited & Ors. (Delhi High Court) - The statutory scheme found in Section 434(1)(c) clearly is that the proceedings for winding up pending before the Company Court could be transferred to the NCLT and there is no provision for transfer of proceedings from the NCLT to the Company Court....

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Group Insolvency of real-estate companies for a consolidated Resolution Plan allowed by NCLAT

Edelweiss Asset Reconstruction Company Limited Vs Sachet Infrastructure Pvt. Ltd. (NCLAT) - Edelweiss Asset Reconstruction Company Limited Vs Sachet Infrastructure Pvt. Ltd. (National Anti-Profiteering Authority) In these appeals as common order dated 7th March, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Special Bench, New Delhi, is under challenge and commo...

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Regional Director, New Delhi to have Jurisdiction over UT of J&K & Ladakh

Notification No. S.O. 3957(E) - (30/10/2019) - MCA notifies revised Jurisdiction of  Regional Director, North Region Directorate, Headquarter at New Delhi to States of Haryana, Punjab, Himachal Pradesh, Uttar Pradesh, Uttarakhand and Union territories of Chandigarh, Jammu and Kashmir, Ladakh and National Capital territory of Delhi. Ministry of ...

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ROC Jammu-Jurisdiction of Adjudication of Penalties-UT of J&K & Ladakh

Notification No. S.O. 3956(E) - (30/10/2019) - Registrar of Companies-cum‑ Official Liquidator, Jammu have Jurisdiction for Adjudication of Penalties under Companies (Adjudication of Penalties) Rules, 2014, over Union territory of Jammu and Kashmir and Union territory of Ladakh. Ministry of Corporate Affairs Notification New Delhi, the 30th Oc...

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ROC Jammu has Jurisdiction of UT of JK and UT of Ladakh

Notification No. S.O. 3955(E) - (30/10/2019) - Registrar of Companies Jammu shall have jurisdiction in respect of Union territory of Jammu and Kashmir and Union territory of Ladakh, for the purpose of registration of companies and discharging the functions under the Companies Act, 2013. MINISTRY OF CORPORATION AFFAIRS NOTIFICATION New Delhi, the...

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MCA extends due date for filing Annual ROC Returns

General Circular No. 13/2019 - (29/10/2019) - MCA extends the due date for filing of financial statements for the financial year ended 31.03.2019 in e-forms AOC-4, AOC (CFS) AOC-4 XBRL upto 30.11.2019 and e-form MGT-7 upto 31.12.2019, by companies without levy of additional fee vide General Circular No. 13/2019 Dated: 29.10.2019. General Circul...

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Last date of form IEPFA-1A & IEPF-2 filing extended

General Circular No. 11/2019 - (25/10/2019) - MCA  waives the additional fee payable by companies on filing form IEPF-1A upto 31.12.2019 and form IEPF-2 (for the purpose of filing Statement of unclaimed and unpaid amounts) upto 30.11.2019 vide General Circular No. 11/2019 Dated: 25.10.2019....

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Recent Posts in "Companies Act"

New Rules of online self assessment proficiency test for Independent Director

Notification of MCA Dated October 22,2019 regarding Appointment & Qualification of Independent Directors. A person who wishes to become Independent Director or acting already as an independent director required to cling certain norms & the provisions related to it are as under: The New rules introduces amendments to Companies (App...

Read More
Posted Under: Company Law |

Database of Independent Directors

The new Rules has made it mandatory for all companies to appoint individuals as Independent Directors on its Board subject to the Section 150 and enable them to appoint persons having expertise and knowledge....

Read More
Posted Under: Company Law |

How to Appoint Statutory Auditors in Case of Casual Vacancy Due To Resignation of Auditors

Procedure For Appointment of Statutory Auditors In Case of Casual Vacancy Arise Due To Resignation of Auditors 1. Procedure: Resigning Auditor should do the following: => Intimate of his resignation to the Company within 30 days of resignation. => File an e-form ADT-3 along with detailed resignation letter with the Registrar of Comp...

Read More
Posted Under: Company Law |

Extension of Time For Annual General Meeting | Section 96 | Companies Act 2013

In order to comply with the provisions of the Companies Act, 2013, every company other than the One Person Company is required to hold annual general meeting or AGM within the due date. Defaulting which may attract penalties & complications....

Read More
Posted Under: Company Law |

HC held incorporation of Company vitiated by fraud as Invalid

Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal)

Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) 1) We hereby declared that the incorporation of M/s. Colour Books Associates Private Limited (Respondent No.1 Company, is vitiated by fraud and consequently, the Certificate of Incorporation dated 14th May, 2018 issued by the Governme...

Read More
Posted Under: Company Law | |

Removal of name of company from register of companies- Reg

In view of the above, you are kindly requested to permit filing of application by companies for removal of name of companies from register of companies on the ground of non-filing of e-Form 20A for commencement of business on the ground of non-receipt of subscribed money after 180 days of its incorporation....

Read More
Posted Under: Company Law |

Can A Incorporated Company Be Considered As Void Ab Initio (void from the beginning) ???

Can A Incorporated Company Be Considered As Void Ab Initio (void from the beginning) ??? The incorporation of a company refers to the legal process that is used to form a corporate entity or a company. Section 7 of the Companies Act 2013 and rules made thereunder as amended from time to time are applicable […]...

Read More
Posted Under: Company Law |

Step to Login and File Reply for Show Cause Notice from MCA-CMS

Step to Login and File Reply for Show Cause Notice from MCA-CMSStep 1 Form the copy of the Notice note down the CMS No. mentioned on the Top and Bottom of the Show Cause Notice Step 2. Open https://mcacms.gov.in/#/ on a browser Step 3. Click on Reply for Show Cause Notice Step 4 A new […]...

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Posted Under: Company Law |

Exempt delayed filing fee for DIR-3 KYC for directors of J&K & Ladakh

ICSI request MCA for considering granting exemption from delayed filing fee for DIR 3KYC for the directors resident in the UT of Jammu and Kashmir and UT of Ladakh....

Read More
Posted Under: Company Law |

Effective Remedy against Non Payment of Invoices by Customer

When you do business with a client, you expect to be paid for your product or services within stipulated time. But what happens when those payments are late – or don't come at all? Sometimes, no matter what you do to prevent the issue, even then you're still left empty-handed and you feels like being cheated. There are a few questions t...

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