Company Law : The scheme provides a last opportunity for defaulting companies to file pending returns and financial statements with reduced pena...
Company Law : This guide explains the mandatory conditions, documentation, and procedural steps for converting a partnership into a company. It ...
Company Law : The case examined whether extending redemption timelines amounts to reissuance. The Tribunal held that extensions within statutory...
Company Law : MCA has confirmed that extension of annual filing timelines till 31st December 2025 does not extend statutory deadline for holding...
Company Law : A guide to issuing bonus shares for private companies under the Companies Act, 2013, covering legal frameworks, procedural steps, ...
Company Law : The initiative addresses inefficiencies in the current filing system and proposes consolidation and automation. It highlights a sh...
Company Law : NFRA found major deficiencies in audit documentation and archival practices. The report highlights the need for stronger controls ...
Company Law : The inspection report highlights deficiencies in audit documentation, independence monitoring and compliance with auditing standar...
Company Law : The regulator found that the audit firm lacked an effective monitoring mechanism to ensure firmwide independence policies were pro...
Company Law : NFRAs inspection found gaps in audit documentation, revenue testing, and risk assessment practices, stressing the need for stronge...
Company Law : Penalty imposed on Sh. Laxit Awla under Section 165 of Companies Act, 2013, for exceeding directorship limits. Details on violatio...
Corporate Law : That the period of lockdown ordered by the Central Government and the State Governments including the period as may be extended ei...
Company Law : ROC Mumbai imposed penalty for possessing duplicate Director Identification Numbers in violation of Section 155. The ruling highli...
Company Law : ROC Delhi held that failure to regularize an Additional Director at the next AGM violated Section 161(1) of the Companies Act. Sin...
Company Law : The ROC found that the company failed to timely record cessation of an Additional Director whose office had automatically vacated ...
Company Law : ROC Mumbai held that even clerical mistakes in DIR-12 can attract penalty under Section 450 when incorrect information is certifie...
Company Law : The ROC imposed penalties after a company extended its rights issue offer period following requests from promoter shareholders. Th...
Ministry has reviewed the processes involved in delivery of important services to stakeholders, with a view to identify and improve the components causing delay in disposal of applications. Payment confirmation is found to be a major bottleneck in delivery of services in respect of offline payment made by physical challans .
with following objects of Reducing the time taken by the Registrar of Companies in Incorporation of Companies and Speeding up and simplifying the process of incorporation and establishment of principal place of business in India by Foreign Companies. Main advantage of the circular is that it aims to reduce Average time taken to incorporate a Company to 1 day.
In the notification of the Government of India Ministry of Corporate Affairs, published in the Gazette of India, vide No. G.S.R. 112(E), dated the 25th February, 2011, in page 2, in line 14, for “in clause 7, the second proviso”, read “in rule 7, clause (ii).
An individual who is to be appointed as a director of an Indian Company is required to obtain a Director Identification Number (DIN) from Ministry of Corporate Affairs (MCA), Government of India in compliance with the Companies Act, 1956 (the Act) read with Companies (Directors Identification Number) Rules, 2006 (DIN Rules). The objective of DIN is to establish with MCA the existence/residence of a person, who intends to become a director of a company. The DIN Rules provides detailed procedure for obtaining DIN. General Circular No.5/2011
It has now been decided that a company shall not require approval of the Central Government for making payment of remuneration by way of commission to its Non- Whole Time Director(s) in addition to the sitting fee if the total commission to be paid to all those Non-Whole Time Directors does not exceed 1% of the net profit of the company if it has a Whole Time Director(s) or 3% of the net profit of the company if does not have a Managing Director or Whole Time Director(s).
These rules may be called the Companies (Accounting Standards) (Amendment) Rules, 2011. (2) It shall come into force on such date as the Central Government may, by notification in the official Gazette, appoint and different dates may be appointed for different classes of companies. 2. In the Companies (Accounting Standards) Rules, 2006, (hereinafter called as principal rules), in the Definition for clause ‘C, the following shall be substituted, namely,
Whereas the Central Government in consultation with the National Advisory Committee on Accounting Standards framed the Companies (Accounting Standards), Rules, 2006 vide G.S.R. No. 739(E), dated the 7th December, 2006 and was subsequently amended vide notification numbering (i) G.S.R. 212(E), dated the 27th March, 2008 (ii) G.S.R. 225(E), dated the 31st March, 2009, in exercise of the powers conferred by clause (a) of sub-section (1) of section 642, read with sub-section (1) of section 210A and sub-section (3C) of section 211 of the Companies Act, 1956 (1 of 1956); Now, therefore, in exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby replace the existing Schedule VI to the said Act by the following Schedule VI, namely :-
“SCHEDULE VI- (See section 211)- Where compliance with the requirements of the Act including Accounting Standards as applicable to the companies require any change in treatment or disclosure including addition, amendment, substitution or deletion in the head/sub-head or any changes inter se, in the financial statements or statements forming part thereof, the same shall be made and the requirements of the Schedule VI shall stand modified accordingly.
larification in respect of Circular No. 2/2011 dated 8th February, 2011 regarding direction under Section 212(8) of the Companies Act, 1956
(1) These rules may be called the Companies (Central Government’s) General Rules and Forms (Amendment) Rules 2011. (2) These rules shall come into force from the date of publication in the Official Gazette . 2. In the Companies (Central Government’s) General Rules and Forms, 1956, for Form 2, the following form shall be substituted , namely :- Amended Form and Official Notification Can be downloaded from the Link Given below
