The Companies Act is a legislation that governs the formation, functioning, and management of companies. Explore the key provisions, compliance requirements, and legal framework under the Companies Act.
Company Law : The issue revolves around the complexities in transferring shares without nomination. The framework allows direct vesting of share...
Company Law : The issue examines whether delayed adjustment of advances automatically triggers deposit classification. The key takeaway is that ...
Company Law : The procedure outlines steps for altering the Memorandum of Association, including board approval, shareholder resolution, and reg...
Company Law : The Bill decriminalises minor offences by converting them into civil penalties, reducing fear of prosecution for procedural lapses...
Company Law : The amendment merges 11 forms into two streamlined frameworks to reduce compliance burden. The key takeaway is faster, simpler com...
Company Law : NFRA introduced guidelines to evaluate audit firms’ compliance and quality control systems. The framework emphasizes governance,...
Company Law : ICSI highlights delays in marking defective forms by RoCs under CCFS 2026. It urges MCA to mandate time-bound processing or allow ...
Company Law : The issue is ambiguity in filing authority during liquidation. ICSI has requested clarity to enable liquidators to maintain statut...
Company Law : The initiative addresses inefficiencies in the current filing system and proposes consolidation and automation. It highlights a sh...
Company Law : The MCA introduced a streamlined process for updating registered email IDs of companies and LLPs. The update ensures seamless rece...
Company Law : Legal Analysis and Narrative Brief: Dale and Carrington Investment Pvt. Ltd. and Another v. P.K. Prathapan and Others (Supreme Cou...
Company Law : The case examined whether Tribunal approval was required for extending preference share redemption. It was held that such extensio...
Company Law : The Tribunal held that allegations of siphoning ₹30 lakh were not supported by any evidence tracing funds to the respondent. Mer...
Company Law : The Court held that a separate meeting of sub-class shareholders is not required when identical terms are offered to the entire cl...
Company Law : Supreme Court held that section 66 of the Companies Act, 2013 doesn’t require mandatory obtaining or circulating of formal valua...
Corporate Law : The order permits single judicial members to handle procedural and uncontested matters. It ensures faster case disposal while pres...
Company Law : A director was penalized for holding two DINs in violation of statutory provisions. The key takeaway is that even inadvertent non-...
Company Law : The company failed to conduct the required number of board meetings and exceeded statutory time gaps. The key takeaway is that str...
Company Law : Filing incorrect details in statutory forms attracts penalties even if later corrected. The key takeaway is that rectification doe...
Company Law : The case involved non-maintenance of a functional registered office, evidenced by undelivered official communication. The authorit...
Conversion of Firm under Part IX of the Companies Act, 1956 :- The firm may be converted into a company by following the provisions of Part IX of the Companies Act, 1956. Sections 565 to 581 deal with conversion of firms into a company under the Companies Act, 1956.
Registration of Companies The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that Under the Companies Act, 1956, there is no specific provision for mandatory registration of foreign companies engaged in on-line business practices. However, keeping in view the present scenario which has been witnessing a large number of business transactions through electronic mode, the Government has proposed to modify the definition of term ‘foreign company’ under the Companies Bill, 2011 to provide for effective regulation of such entities. Clause 2(42) of the Bill, defines the term ‘foreign company’ to mean any company or body corporate incorporated outside India which,-
Section 205 of the Companies Act, 1956, prescribes the methods of charging depreciation. We are producing below the Rates of depreciation under the Companies Act as mentioned in Schedule XIV
What is the date of applicability of the New Schedule VI? The New Schedule VI is applicable to all companies for financial statements prepared for financial year commencing on or after 01.04.2011 except banking, insurance and electricity companies which are governed by their own reporting formats under the respective pronouncements.
Corporate Affairs Minister Veerappa Moily today said the Companies Bill is expected to be cleared in the forthcoming Budget Session despite its withdrawl after being tabled in the winter session.
Background of Companies Bill, 2011 – The Ministry of Corporate Affairs took up a comprehensive revision of the Companies Act, 1956 (the Act) in 2004 keeping in view that not only had the number of companies in India expanded from about 30,000 in 1956 to nearly 7 lakhs, Indian companies were also mobilizing resources at a scale unimaginable even a decade ago, continuously entering into and bringing new activities into the fold of the Indian economy. In doing so, they were emerging internationally as efficient providers of a wide range of goods and services while increasing employment opportunities at home. At the same time, the increasing number of options and avenues for international business, trade and capital flows had imposed a requirement not only for harnessing entrepreneurial and economic resources efficiently but also to be competitive in attracting investment for growth. These developments necessitated modernization of the regulatory structure for the corporate sector in a comprehensive manner.
CA Amendment Bill Passed by Both Houses of Parliament -The Chartered Accountants Amendment Bill has been passed by both the Lok Sabha as well as the Rajya Sabha, thus, paving the way for limited liability partnerships (LLPs) and multidisciplinary partnerships subject to notification of the relevant provisions, after the assent of the President of India and issue of guidelines for multidisciplinary partnerships by the Council. The Bill, moved by the Hon’ble Corporate Affairs Minister Dr. M. Veerappa Moily, will allow chartered accountants to have a choice to form a business model of LLPs to offer their services. This legislation will expectedly help them achieve a leadership position in the services sector. Our members’ practice through LLPs and Partnership firm and their entry to MDPs has been allowed. LLPs can also be called firms within the meaning of the CA Act, 1949 and the CA Regulations, 1988.
(iv) Company Law Settlement Scheme [CLSS]: This was introduced in August 2011 to give a chance to companies who have failed to file the balance sheets and annual returns earlier, to complete their filings to avoid prosecution. This measure has elicited a good response and so far about 1.25 lakh documents have been filed, yielding a revenue of Rs.15.37 crore. The Scheme is now valid till January 15, 2012.
In order to deter chief executives and other senior functionaries from indulging in Satyam type accounting fraud, the Companies Bill 2011 stipulates that such officials will have to refund the remuneration received in case the accounts are re-stated.
The government withdrew the Companies Bill and Pension Fund Regulatory and Development Authority Bill on Wednesday after the BJP opposed the first and coalition ally Trinamool Congress withdrew its support for the other.
