Companies Act - Page 4

Acceptance of Deposits By Nidhi Companies

Nidhi Company means a Company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and saving amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit. The provisions of the Companies Act, 2013 places various restrictions on acceptance of deposits by Comp...

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Posted Under: Company Law |

Scheme of Time Relaxation in Case of Filing of Charge Forms Under Companies Act, 2013

[MCA General Circular No. 23/2020 dated 17 June, 2020] You are well aware that Ministry of Corporate Affairs (MCA), vide General Circular No. 12/2020, dated 30/03/2020, has come out with a Companies Fresh Start Scheme, 2020 forproviding relaxation in time for several forms. However, the benefit of waiver of additional fees, under the Comp...

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Posted Under: Company Law |

How To Do Audit of ‘Dividend‘

Meaning of Dividend:  A Dividend is payment made by a Company to its shareholders, usually as a distribution of profit. Compliance Procedures to be followed –  1. Whether Section 8 Company? If yes, it is prohibited to declare dividend. 2. Whether BR recommending Dividend is passed? 3. Whether OR has been passed to declare Dividend [&h...

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Posted Under: Company Law |

Loan to Directors by Companies – Section 185

Loan to Directors, etc. Section 185 of Companies Act, 2013, explains the provisions related to loans or advances to directors or any security provided in connection with any loan taken by him or his relative either directly or indirectly by the company and also the punishment for contravention of the provisions of this section. The [&hell...

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Posted Under: Company Law |

Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020

G.S.R. 420(E) (29/06/2020)

MCA has vide Notification No. G.S.R. 420(E) dated 29th June, 2020 has issued and published the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020 further to amend the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. Full text of the notification is as follows...

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Relaxation Scheme on Charges under Company Law during Covid-19

General Circular No. 23/2020 dated 17/06/2020 (17//0/6/20)

SECTION 77 OF THE COMPANIES ACT 2013 READ WITH THE RULES MADE THEREUNDER says that the charge created by the company on any of its assets whether tangible or intangible assets, located in India or outside India shall be registered by the company or the charge holder within 30 days of creation or modification in […]...

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Requirements of Secretarial Audit

Secretarial Audit for bigger Companies Secretarial Audit is a process to check compliance with the provisions of various laws and rules/regulations/procedures, maintenance of books, records etc., by an independent practising Company Secretary to ensure that the company has complied with the legal and procedural requirements and also follo...

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Free Perpetual Depreciation Calculator with FAR with Fixed Asset Schedule

Perpetual  Depreciation Calculator with Fixed Asset Register.  – Automated Fixed Schedule Preparation  – Depreciation for entire useful life of assets  – No need to copy paste data every year in different Excel files.  – Easy to under stand – Single Sheet for depreciation calculation. As per Schedule II ...

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Board Report FAQs Under The Companies Act, 2013

A Board report is a document produced by the board of directors under the requirements of The Companies Act, 2013, which details the state of the company and its compliance with a set of financial, accounting and corporate social responsibility standards. The requirement for directors’ reports arose out of a general move for ...

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All about Independent Directors- (Part-2)

In continuance of the earlier article, ‘All about Independent Directors- (Part-1)‘, this article will focus on the independent director databank and the process of appointing an independent directors. On 22nd October, 2019 the Ministry of corporate affairs (MCA) published the Companies (Appointment and Qualification of Directo...

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Posted Under: Company Law |

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