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...
Though fraud is not explicitly defined in the existing Companies Act there are offences in IPC which include aspects relating to fraud. Frauds of various types like falsification of financial statements through overstatement of assets/ understatement of liabilities, diversion of funds in Project financing, over/under invoicing and capital market, including criminal breach of trust, misappropriation of funds/assets etc. under the IPC have been reported by the SFIO in various cases investigated by it and cases against such companies are being pursued before the concerned courts, under provisions of relevant Act.
a. The Bill has 470 clauses and 7 schedules as against 658 Sections and 15 schedules in the existing Companies Act, 1956. b. The entire bill has been divided into 29 chapters. c. Following chapters have been introduced, viz. * Registered Valuers (ch.17); * Government companies (ch. 23); * Companies to furnish information or statistics (ch. 25); * Nidhis (ch. 26); * National Company Law Tribunal & Appellate Tribunal (ch. 2
Last date for availing benefit under Company Law Settlement Scheme (CLSS), 2011 has been extended up to 15th January, 2012. It is further stated that this Scheme will not be extended beyond 15th January, 2012. For details kindly see General Circular No: 71/2011 available on MCA portal under News & Events and under heading Act, Bills and Rules.
The Companies Bill, which enhances accountability, introduces the concept of corporate social responsibility and encourages e-governance, was introduced in the Lok Sabha today. The 2011 Bill was introduced by Corporate Affairs Minister M Veerappa Moily after he withdrew a similar legislation of 2009 on the ground that the revised measure incorporating several recommendations and suggestions made by the Parliamentary Standing Committee on Finance and various stakeholders.
The Union Cabinet on Thursday cleared the Companies Bill, 2011 and decided to take up the Bill in the Winter Session itself for approval by Parliament. Once approved by Parliament, it will replace half-a-century-old Companies Act. The Cabinet has cleared Companies Bill, 2011. It is likely to be tabled (for consideration and passage) in the ongoing Winter Session, a Corporate Affairs Ministry official said after the Cabinet meeting.
The Cabinet today approved the Companies Bill 2011 which, once approved by Parliament, will replace half-a-century-old Act.Companies Bill, 2011 is likely to be tabled (for consideration and passage) in the ongoing Winter Session. The Bill, which has already been vetted by the Parliamentary Standing Committee of Finance and also by different ministries, seeks to update the company law in line with the best global practices.
The Ministry of Corporate Affairs has in order to improve service delivery to the Corporate Sector recently taken initiatives for further simplifying procedures under the Companies Act, 1965 and the Limited Liability Partnership Act, 2008. These include: (a) Company Law Settlement Scheme: The scheme was initially notified w.e.f. 12.08.2011 to enable the Companies failing to file their annual returns and financial statements to file the same. This measure has elicited a good response and so far 61875 documents have been filed yielding the revenue of Rs. 7.71 crore. As the demand for availing of this concession is persistent, a decision has been taken to extend this one time measure till 15.12.2011.
The government today deferred a decision on the new Companies Bill and said it would be taken up next month after sorting out issues concerning delegation of powers to the market regulator Sebi. “Finance Minister has been told by Sebi that few fine tuning matters have to be taken care of before it is actually […]
Section 58A of Companies Act, 1956 has put restrictions on acceptance of deposits by any company subject to rules being prescribed. Accordingly, Companies (Acceptance of Deposits) Rules, 1975 were prescribed which lay down various regulations and procedures for acceptance of deposits by companies.
All the terms and conditions of the General Circulars No. 59/2011 dated 05.08.2011 and No. 60/2011 dated 10.08.2011 will remain the same.
