Companies Act 2013

‘Companies (Auditor’s Report) Order, 2020’ Reporting requirements

Company Law - CARO 2020 is a new format for issue of audit reports in case of statutory audits of companies under Companies Act, 2013. The aim of CARO 2020 is to enhance the overall quality of reporting by the company auditors. The MCA has notified Companies (Auditor’s Report) Order, 2020 on 25 February 2020. This order (CARO […]...

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Logic Of Name Clause In MOA

Company Law - Memorandum of association (MOA) can be called as the Constitution of company. First clause in MOA is name clause where company is required to state its name along with private limited (in case of private limited company) or limited (in case of public limited company) or Producer Company limited (in case of Producer Company). Legislature [...

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Contents of Director Report Under Company Law & SEBI (LODR) 2015

Company Law - Shareholders being the owners of the company , have the right to know about its performance , stability, efficiency etc. Directors through directors report helps the shareholders to understand how the company & its management fared during a particular Financial Year. DIRECTORS REPORT UNDER THE COMPANIES ACT 2013 & SEBI (LODR),2015...

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Compliance For Statutory Auditor- NFRA-2

Company Law - This new Form NFRA-2 has to be filed by the Statutory Auditor of the Company in pursuance of section 132 of Companies Act, 2013 and Rule 5 of NFRA Rules, 2018....

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Mergers and Acquisitions in New Era of Companies Act, 2013

Company Law - The new companies bill promises to bring easy and efficient way of doing business in India, better governance, improves level of competency, enhance accountability, including self compliance and making corporate socially responsible. Some of the key changes to look for are in MERGER/DEMERGER PROCESS, CROSS BORDER MERGER, FAST TRACK MERGER...

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Extend due date of MSME FORM-1, PAS-6 & Form 11-LLP: ICSI

Company Law - ICSI has written a letter to Ministry of Corporate Affairs and requested for extension of timelines due to COVID-19 of E Form – MSME FORM-1, E Form- PAS-6 and Form 11- LLP. THE INSTITUTE OF Company Secretaries of India (Under the jurisdiction of Ministry of Corporate Affairs) MCA: 2021 15th April, 2021 Shri Rajesh Verma, […]...

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Section 139 | ICAI clarifies on Appointment of Auditor for two terms

Company Law - Whether a Proprietary firm (having FRN) or individual CA who is practicing either in his own name or trade name can be appointed for two terms as per Section 139 of Companies Act, 2013?...

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NCLAT Checklist for Appeals under Companies Act, 2013 & IBC, 2016

Company Law - NATIONAL COMPANY LAW APPELLATE TRIBUNAL Checklist for Appeals under Companies Act, 2013 & Insolvency and Bankruptcy Code, 2016 Appeals to be in Form NCLAT-1 (in triplicate) along with an affidavit in Form NCLAT-4 of the National Company Law Appellate Tribunal Rules, 2016 (Rules) 1. Language & Format – Appeal stitched togethe...

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NCLAT Checklist for Appeals under Competition Act, 2002

Company Law - NATIONAL COMPANY LAW APPELLATE TRIBUNAL Checklist for Appeals under Competition Act, 2002 Appeals to be in the Form appended to ‘The Competition Appellate Tribunal (Form and Fee for Filing an Appeal and Fee for Filing Compensation Applications) Rules, 2009 (Rules 2009) along with an affidavit’ Refer also Rules 3 & 6 and the Form a...

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MCA Advisory on Filing of Forms

Company Law - DSC Related Important Messages ♦ In case Stakeholder’s DSC has been expired, they are advised to associate new DSC with MCA as a mandatory step before attaching DSC in any form. ♦ Stakeholders are advised to SAVE the form after attaching DSC and then UPLOAD it to avoid system error. ♦ In case Stakeholders are […]...

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HC directs ROC to remove disqualification of Director for Active Companies & reactivate his DINs/DSCs

Sandeep Ahuja Vs Union of India & Ors. (Delhi High Court) - Sandeep Ahuja Vs Union of India & Ors. (Delhi High Court) The Petitioner is a Director in five companies. Due to non-filing of annual returns and balance sheets in one of the companies, the Petitioner was disqualified as a director in 2017 with effect from 1st November, 2017 to 31st October, 202...

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SC allows Tata Sons Appeal against NCLAT order reinstating Cyrus Mistry as Chairperson

Tata Consultancy Services Limited Vs Cyrus Investments Pvt. Ltd. (Supreme Court of India) - Tata Consultancy Services Limited Vs Cyrus Investments Pvt. Ltd. (Supreme Court of India) Supreme Court framed the following questions of law : (i) Whether the formation of opinion by the Appellate Tribunal that the company’s affairs have been or are being conducted in a manner prejudicial a...

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Siphoning of Company Funds | Rockland Hospitals Case | HC refuses to Grant Bail

Prabhat Kumar Srivastava Vs SFIO (Delhi High Court) - Prabhat Kumar Srivastava Vs SFIO (Delhi High Court) 1. The applicant, vide the present application seeks the grant of regular bail in complaint No. 149/2020 pending before the learned Special Judge, Companies Act, Dwarka District Courts in the complaint titled as ‘Serious Fraud Investigation O...

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Section 232(6) of Companies Act, 2013 enables companies to choose & state ‘appointed date’ in amalgamation scheme

RHI India Private Limited & Ors. (Appellants) Vs Union of India (NCLAT) - The NCLAT observed that the Ministry of Corporate Affairs, General Circular dated August 21, 2019 has clarified that section 232(6) of Companies Act, 2013 enables the companies in question to choose and state in the scheme an ‘appointed date'. This date may be a specific calendar date or may be ti...

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NCLT must give a reasonable opportunity of hearing: NCLAT

Pankaj Kumar Mishra vs. Registrar of Companies, Mumbai and Ors. (NCLAT) - NCLT must give a reasonable opportunity of making representations and of being heard before passing an order, to the Registrar, the Company and all the persons concerned under Section 252 (1) of the Companies Act, 2013....

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COVID Care facilities & makeshift hospitals are eligible CSR activity

General Circular No. 05/2021 - (22/04/2021) - MCA issued General Circular No. 05/ 2021 dated 22nd April, 2021, wherein it has been clarified that spending for 'setting up COVID Care facilities & makeshift hospitals' is an eligible CSR activity....

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Anti-dumping investigation on imports of ‘Plain Medium Density Fibre Board

Case No. ADD-OI-11/2020 - (20/04/2021) - Case No. ADD-OI-11/2020 Anti-dumping investigation concerning imports of ‘Plain Medium Density Fibre Board having thickness less than 6mm’ originating in or exported from Vietnam, Malaysia, Thailand and Indonesia....

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Regular hearing via Video conference at NCLT w.e.f. 12.04.2021

File No. 10/03/2021-NCLT - (09/04/2021) - Due to sharp increase in COVID-19 cases throughout the It has been decided to take up regular hearing through Video Conference w.e.f. 12.4.2021 at all NCLT Benches. The Benches shall sit as per Rule 9 of NCLT Rules, 2016- sitting hours of the Tribunal:...

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Audit Report on Maintenance of Software with Audit Trail postponed

Notification No. G.S.R. 248(E). - (01/04/2021) - Companies (Audit and Auditors) Second Amendment Rules, 2021- MCA has earlier mandated that Auditor has to report in his Audit report starting from 01.04.2021 that if the Company is maintaining its books of account in a Accounting Software which has a feature of recording audit trail (edit log) facil...

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Companies Audit Trail Software Mandate postponed to 01-04-2022

Notification No. G.S. R. 247(E). - (01/04/2021) - Companies (Accounts) Second Amendment Rules, 2021- MCA has postponed the applicability of software with Audit features for Companies from 01.04.2022 instead of 01.04.2021 notified earlier. Also Read:Audit Report on Maintenance of Software with Audit Trail postponed MINISTRY OF CORPORATE AFFAIRS NOTI...

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Recent Posts in "Companies Act 2013"

‘Companies (Auditor’s Report) Order, 2020’ Reporting requirements

CARO 2020 is a new format for issue of audit reports in case of statutory audits of companies under Companies Act, 2013. The aim of CARO 2020 is to enhance the overall quality of reporting by the company auditors. The MCA has notified Companies (Auditor’s Report) Order, 2020 on 25 February 2020. This order (CARO […]...

Read More
Posted Under: Company Law |

Logic Of Name Clause In MOA

Memorandum of association (MOA) can be called as the Constitution of company. First clause in MOA is name clause where company is required to state its name along with private limited (in case of private limited company) or limited (in case of public limited company) or Producer Company limited (in case of Producer Company). Legislature [...

Read More
Posted Under: Company Law |

Contents of Director Report Under Company Law & SEBI (LODR) 2015

Shareholders being the owners of the company , have the right to know about its performance , stability, efficiency etc. Directors through directors report helps the shareholders to understand how the company & its management fared during a particular Financial Year. DIRECTORS REPORT UNDER THE COMPANIES ACT 2013 & SEBI (LODR),2015...

Read More
Posted Under: Company Law |

Compliance For Statutory Auditor- NFRA-2

This new Form NFRA-2 has to be filed by the Statutory Auditor of the Company in pursuance of section 132 of Companies Act, 2013 and Rule 5 of NFRA Rules, 2018....

Read More
Posted Under: Company Law |

Mergers and Acquisitions in New Era of Companies Act, 2013

The new companies bill promises to bring easy and efficient way of doing business in India, better governance, improves level of competency, enhance accountability, including self compliance and making corporate socially responsible. Some of the key changes to look for are in MERGER/DEMERGER PROCESS, CROSS BORDER MERGER, FAST TRACK MERGER...

Read More
Posted Under: Company Law |

Sweat Equity Share As per companies act, 2013

What are Sweat Equity Shares? The Promoters and employees who contribute to the formation of the company may like to get compensated against their hard work (Sweat) in the form of equity either discounted price or consideration other than cash. This is what term as sweat equity. It helps the business retain its brilliant human […]...

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Posted Under: Company Law |

COVID Care facilities & makeshift hospitals are eligible CSR activity

General Circular No. 05/2021 22/04/2021

MCA issued General Circular No. 05/ 2021 dated 22nd April, 2021, wherein it has been clarified that spending for 'setting up COVID Care facilities & makeshift hospitals' is an eligible CSR activity....

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Existential Crisis of Justification of Pre-Incorporation Contracts in Jurisprudential Framework of Contract & Company Law

A company has its own separate legal entity, distinct from its members, which affords it certain characteristic features. One such feature is that a company can enter into a contract in its own name and entitled to acquire contractual rights and obligations. It is pertinent to note that such contractual powers can be exercised by [&hellip...

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Posted Under: Company Law |

Form PAS-6 Reconciliation of Share Capital Audit Report | Rule 9A

Ministry of Corporate Affairs (‘MCA’) had issued a notification on 10th September, 2018 to amend the Companies (Prospectus and Allotment of Securities) Rules, 2014, these rules may be called the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018. The same are effective from 2nd October, 2018. Amendment By t...

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Posted Under: Company Law |

Key amendments in maintenance of Accounts & Financial Reporting under Companies Act, 2013

Brief note: The Ministry of Corporate Affairs (MCA) has issued the Company (Accounts) Amendment Rules, 2021, Companies (Audit and Auditors) Amendment Rules, 2021 and made amendments to Schedule III under the Companies Act, 2013 (“the Act”). These amendments require significant additional disclosures in the statutory financial statemen...

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Posted Under: Company Law |

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