Divesh Goyal

FAQs on Company Law Fresh Start Scheme, 2020

Company Law - Company Law Fresh Start Scheme, 2020 announced by MCA is A step by MCA to allow corporates to make a ‘Fresh Start’. MCA issued General Circular No. 12/2020 dated 30th March, 2020 for the benefit of all Companies. This Scheme Shall be start from 01st April, 2020 and end on 30th September, 2020. FAQ’s Q […]...

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Summary of Company Law Fresh Start Scheme, 2020

Company Law - MCA issues General Circular No. 12/2020 dated 30.03.2020 to notifiy Company Law Fresh Start Scheme, 2020 which is  for the benefit of all Companies who have defaulted in filing of Statutory forms on MCA. This Scheme will comes into operation from 01st April, 2020 and will end on 30th September, 2020. Company Law Fresh Start […]...

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Distribution of Sanitizers /Masks can be treated as CSR Activity

Company Law - Many Corporates & Professionals has asked a question ‘Whether amount spent for for prevention or Spread CORONA Virus or CoVID-19 shall be considered as CSR Expense under Section  135 of Companies Act, 2013?’ To clarify the same MCA has issued a clarification on 23rd March, 2020 vide General Circular No. 10/2020, according...

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ICSI Auditing Standard Mandatory from 1st April, 2020

Company Law - Institute of Company Secretaries of India ICSI has issued Auditing Standard for audit by ‘Practicing Company Secretary” . These standards issued by ICSI. These standards were effective from 1st July, 2019. However, from 1st July,2019 it was recommendatory. These standards are mandatory w.e.f. 1st April, 2020. Important Note: ** These ...

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CAR Form – Company Affirmation of Readiness Towards COVID-19

Company Law - MCA has introduced a new form CAR (Company Affirmation of Readiness towards COVID-19) w.e.f. 23rd March, 2020. Following type of entities have to file Form CAR-2020: -Company -LLP -Foreign Company -Foreign LLP Key Features of Form It is Web based form (need to file online) There are no fees for this form. No need of […]...

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“Liability of Director after Strike off’ and ‘Wound up of Company after Strike off”

Real Time Interactive Media (P.) Ltd V/s Metro Mumbai Infradeveloper (P.) Ltd (Bombay High Court) - In this flash editorial author discusses the provisions of liability of directors after strike off of Company or winding up of Company by tribunal after Struck off in the record of Registrar of Companies....

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Time to file Appeal in NCLAT against Order of Adjudicating Authority

Amod Amladi V/s. Mrs. Sayali Rane & Anr. (NCLAT Delhi) - Article discusses Time Period for Filing of Appeal in National Company Law Appellate Tribunal (NCLAT) against the order of adjudicating authority in the light of Section 62(2) of Insolvency and Bankruptcy Code, 2016 and NCLAT Judgments in the case of Steam Amod Amladi V/s. Mrs. Sayali Rane & Anr and...

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Perusal of Pending Proceeding before HC after declaration of Moratorium in IBC, 2016

Steamline Industries Ltd Vs. Tecpro Systems Ltd (NCLAT Delhi) - In this editorial author discusses Judgment National Company Law Appellate Tribunal (NCLAT) in the case of Steamline Industries Ltd Vs. Tecpro Systems Ltd with reference to Section 14(1)(a) and 238 of the nsolvency and Bankruptcy Code, 2016 (IBC, 2016) on the issue Whether Pending Proceeding before...

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Whether POA Holder Can File Application Under IBC, 2016

Shriram EPC Limited Vs. Rio Glass Solar SA (NCLAT Delhi) - The 'I&B Code' is a complete Code by itself. The provision of the Power of Attorney Act, 1882 cannot override the specific provision of a statute which requires that a particular act should be done by a person in the manner as prescribed thereunder. Therefore, we hold that a 'Power of Attorney Hold...

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Whether dispute raised by OC is bar for acceptance of petition under IBC

Anil Steels V. A.D. Electro Steel Co. (P.) Ltd (NCLT Kolkata Bench) - Whether Corporate Debtor can bar the NCLT to accept the petition of Operational Creditor by raising a dispute on the Demand Notice...

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Recent Posts in "Divesh Goyal"

FAQs on Company Law Fresh Start Scheme, 2020

Company Law Fresh Start Scheme, 2020 announced by MCA is A step by MCA to allow corporates to make a ‘Fresh Start’. MCA issued General Circular No. 12/2020 dated 30th March, 2020 for the benefit of all Companies. This Scheme Shall be start from 01st April, 2020 and end on 30th September, 2020. FAQ’s Q […]...

Read More
Posted Under: Company Law |

Summary of Company Law Fresh Start Scheme, 2020

MCA issues General Circular No. 12/2020 dated 30.03.2020 to notifiy Company Law Fresh Start Scheme, 2020 which is  for the benefit of all Companies who have defaulted in filing of Statutory forms on MCA. This Scheme will comes into operation from 01st April, 2020 and will end on 30th September, 2020. Company Law Fresh Start […]...

Read More
Posted Under: Company Law |

Distribution of Sanitizers /Masks can be treated as CSR Activity

Many Corporates & Professionals has asked a question ‘Whether amount spent for for prevention or Spread CORONA Virus or CoVID-19 shall be considered as CSR Expense under Section  135 of Companies Act, 2013?’ To clarify the same MCA has issued a clarification on 23rd March, 2020 vide General Circular No. 10/2020, according...

Read More
Posted Under: Company Law |

ICSI Auditing Standard Mandatory from 1st April, 2020

Institute of Company Secretaries of India ICSI has issued Auditing Standard for audit by ‘Practicing Company Secretary” . These standards issued by ICSI. These standards were effective from 1st July, 2019. However, from 1st July,2019 it was recommendatory. These standards are mandatory w.e.f. 1st April, 2020. Important Note: ** These ...

Read More
Posted Under: Company Law |

CAR Form – Company Affirmation of Readiness Towards COVID-19

MCA has introduced a new form CAR (Company Affirmation of Readiness towards COVID-19) w.e.f. 23rd March, 2020. Following type of entities have to file Form CAR-2020: -Company -LLP -Foreign Company -Foreign LLP Key Features of Form It is Web based form (need to file online) There are no fees for this form. No need of […]...

Read More
Posted Under: Company Law |

Relaxation of Due Dates-By MCA/SEBI due to CoVID-19

RELAXATION Ministry of Corporate Affair relaxation Board Meeting (Video Conferencing): As per Section 173(2) Companies can hold Board Meeting through Audio/Visual means. However as per rule 4 following transactions are restricted to transact through Video Conferencing: a) the approval of the annual financial statements; b) the approval of...

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Posted Under: Company Law |

Key Takeaways from Companies (Amendment) Bill, 2020

Government has introduced The Companies (Amendment) Bill, 2020 as Bill No. 88 of 2020 to further amend Companies Act, 2013 in Lok Sabha on 17th March 2020. CLC Committee submitted its report in November, 2019. There were amendments in 66 Sections of Companies Act, 2013. A. Objects of the Companies (Amendment) Bill, 2020 To decriminalize [...

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Posted Under: Company Law |

LLP Settlement Scheme – 2020 (Step Towards ‘Compliance”)

Short Summary of New LLP Settlement Scheme- 2020- Large Numbers of LLP’s have defaulting in filling of followings forms: ♦ LLP-3 viz. LLp Agreement and change theirein ♦ LLP-8 Statement of Account and Solvency ♦ LLP-11 Annual Return of LLP As per LLP Act if such form not being filed within prescribed time presently LLPs […]...

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Posted Under: Company Law |

Procedure For Change In Registered Office of LLP

Procedure For Change In Registered Office of LLP- Section-13 of LLP Act- 2008, Rule 17 of LLP Rules- 2009 As per Section 13 of LLP, 2008 every LLP shall have a registered office to which all communications and notice may be addressed and where they shall be received. Address of initial registered office of a […]...

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Posted Under: Company Law |

Process and Provision for Strike off of LLP

Provision in relation to closure of LLP has been mentioned u/s 75 of LLP Act, 2008 read with Rule 37 of LLP Rules, 2009. Name of defunct LLP can be struck off by the Registrar: Suo-motto; or On application by the LLP. Defunct: The generic meaning of the word ‘defunct’ is a state of being […]...

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Posted Under: Company Law |

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