Corporate Law : Everyone knows High Court and Supreme Court but few People like CA/CS/Lawyers know NCLT & NCLAT. Lets through light on this to...
Company Law : NCLT, Mumbai Bench dismissed the petition filed by Cyrus Mistry who incidentally owns about 18.3% (including preference capital) o...
Company Law : We all know that The Companies Act, 2013 provides for conversion from one type of a company to another. A Private Company can conv...
Company Law : As we all knows that Central Government notified NCLT Rules, 2016 on 21st of July, 2016 through notification in the official gazet...
Company Law : As per section 96 of CA, 2013, every Company (other than OPC) shall hold a general meeting annually (exclusive of any other meetin...
Company Law : Committee on review of penal provisions of Company Act 2013 submits final report to Shri Arun Jaitley. Recommends Restructuring of...
Company Law : The Ministry of Corporate Affairs Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appe...
Company Law : The Government has said that it proposes to set up a ‘National Company Law Tribunal’ to consolidate the powers and jurisdictio...
Company Law : The ministry of corporate affairs (MCA) has started a round of consultations with the law ministry on the feasibility of setting u...
Company Law : To set up a Company Law Tribunal without further delay, the Ministry of Corporate Affairs has begun consultations to make the nece...
Corporate Law : Held that a statutory institution like CoC which is in most of the cases represented by public financial institutions is expected ...
Income Tax : From the report there does not appear any request of the Resolution Professional for issuance of the instructions for the purpose ...
Corporate Law : The Tribunal held that in the absence of any power of recall or review being available to the Tribunal, the present case at hand d...
Company Law : Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) 1) We hereby declared th...
Corporate Law : This is the case, where despite moratorium order, Municipal Authorities have sealed the Corporate Office/Registered Office of the ...
Corporate Law : Filling up of the posts in the National Company Law Appellate Tribunal on deputation basis. The National Company Law Appellate Tri...
Company Law : President, National Company Law Tribunal hereby constitutes the following Benches for the purpose of exercising and discharging th...
Company Law : Central Government hereby constitutes the National Company Law Tribunal, Kochi Bench at Kochi and for the said purpose hereby make...
Income Tax : The undersigned is directed to say that by virtue of implementation of Insolvency & Bankruptcy Code (IBC) 2016 after the repeal of...
Company Law : Board has decided that request/appeal for restoration of name of the 'struck off' company with retrospective date from the date of...
Power is given to Operational Creditor’s u/s 8 and 9 to file application against the corporate debtor in case of default in payment. As per language of Section 8 An operational creditor may, on the occurrence of a default, deliver a demand notice of unpaid operational debtor copy of an invoice demanding payment of the amount involved in the default to the corporate debtor in such form and manner as may be prescribed
A partnership firm can participate in a scheme of amalgamation only after converting itself into a company under section 366 of the Act. Since the vesting of properties and liabilities of such partnership firm to the company is by operation of law [Section 368 of the Act], the succession is exempt from capital gains tax pursuant to the provisions of section 47(xiii) of the Income Tax Act, 1961
The Directorate looks after the cases of sick companies which require rehabilitation/ resolution of sickness. Previously the sick companies used to move Board for Industrial and Financial Reconstruction (BIER) under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).
CS Vipin Kumar Mittal Keeping in view of the Section 248 to 252 of the Companies Act, 2013 (the Act), as notified by Ministry of Corporate Affairs (MCA) w.e.f. 26th December, 2016 and Rule 87A of the National Company Law Tribunal (NCLT) (Amendment) Rules, 2017 as notified by MCA w.e.f. 5th July, 2017, I have […]
Government has Constituted 11 Benches of NCLT, out of which 2 will be the Principal Bench, which shall be Preside at New Delhi.And the regional bench territory authority is in Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai.
Section 66 which is the governing provision for Reduction of Share Capital of a company is one amongst those sections notified on 07th December, 2016. Immediately, thereafter, MCA has further, notified the National Company Law Tribunal (Procedure for Reduction of Share Capital of Company) Rules, 2016 on 15th December, 2016.
“63. Appearance of authorised representative.- (1) Subject to provisions of section 432 of the Act, a party to any proceedings or appeal before the Appellate Tribunal may either appear in person or authorise one or more chartered accountants or company secretaries or cost accountants or legal practitioners or any other person to present his case before the Appellate Tribunal.
High percentage of non-compliance of the Companies Act and Rules, the Ministry of Corporate Affairs (MCA) with Registrar of Companies (ROC) had issued show cause notices to various companies. After that various companies received notice regarding removal of name of a company from the register of companies as per sub section (1) of section 248 of Companies Act, 2013 and rules 3 of the Companies Rules, 2016.
Capital reduction is a commonly adopted tool by companies for re-engineering their capital structure. The need for reducing share capital may arise owing to a number of reasons, such as returning excess funds to the shareholders, adjustment of accumulated losses, minority squeeze out, improving EPS, producing a more efficient capital structure, etc. In this article we have analysed the importance to understand the key tax aspects related to capital reduction.
In general parlance, if we consider our global business, it is the fusion of Assets and Liabilities which generates the revenue or surplus or profit, whatever may be terms but finally ends up with one five letter word MONEY for the company.
