Companies Act 2013

Comparison of Share Valuation under different Indian Acts

Company Law - Valuation for issue and transfer of shares (unlisted) under Income-tax Act, 1961, Companies Act, 2013 & FEMA Regulations been explained in detail in this article....

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Simplified Guide for Incorporation of a Company

Company Law - Introduction: With the introduction of SPICe Forms, the Ministry of Corporate Affairs (MCA) has simplified the procedure of company formation and thereby simplifying the ease of doing business in India. This article depicts the process of company formation through SPICe Forms & throws light on some newly introduced compliances such as...

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Incorporation of Foreign Subsidiary Company in India

Company Law - If A foreign company planning to set up business in India may incorporate a company under the Companies Act, 2013 as a joint venture or wholly owned subsidiary or set up Liaison Office/ Representative Office or a Project Office or a Branch Office of the foreign company which can be undertake activities permitted under the […]...

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Procedure for Issuer/Scrutinizer on e-Voting System

Company Law - Meaning Electronic voting (also known as e-voting) is voting that uses electronic means to either aid or take care of casting and counting votes. … It may encompass a range of Internet services, from basic transmission of tabulated results to full-function online voting through common connectable household devices. Applicability ...

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The growth of collective redress (class action suits) in Europe

Company Law - The concept of class action was introduced in India under the Companies Act, 2013. But this article analyses the same under the heading “collective redress” on the basis of” European Commission’s 2013 Recommendation on Collective Redress” in Europe. In a lay man’s language, the class suit is initiated by an individual or a sma...

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Taxonomy 2019 of CRA-4 (Cost audit report) is under development: MCA

Company Law - Costing Taxonomy 2019 to cater to the annual filing of CRA-4 (Cost audit report) for FY 2018-19 is under development. The companies which are required to file CRA-4 (Cost audit report) for FY 2018-19 are required to use Costing Taxonomy 2019 only. Those who have already filed CRA-4 (Cost Audit Report) using the existing Costing […]...

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Advisory on Auditor’s Reporting on Section 197(16) of Companies Act, 2013

Company Law - Section 197(16) of the Companies Act, 2013 requires as under: 'The auditor of the company shall, in his report under section 143, make a statement as to whether the remuneration paid by the company to its directors is in accordance with the provisions of this section, whether remuneration paid to any director is in excess of the limit lai...

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MCA to release revised AoC-4 Non-XBRL form

Company Law - The Central Government has made further amendments to Schedule III to the Companies Act, 2013 vide Notification dated 11th October 2018. As per the said notification, Division III has been inserted in respect of Financial Statements for a Non-Banking Financial Company (NBFC) whose financial statements are drawn up in compliance of the Com...

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Government removes Debenture Redemption Reserve requirement

Company Law - Ministry of Corporate Affairs has amended Companies (Share Capital & Debentures) Rules by removing Debenture Redemption Reserve requirement for Listed Companies, NCFCs and HFCs....

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Consider introduction of CSR Compliance Certificate by CS in Practice: ICSI

Company Law - We request you to kindly consider introduction of CSR Compliance Certificate by a Company Secretary in Practice, independent professional and reporting thereof in a dedicated format in form of CSR Compliance Certificate....

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HC explains Liability of professionals acting as Non-executive directors

Rajendra Shah Vs State of Maharashtra & Anr. (Bombay High Court) - Practicing professionals are prohibited from acting as full time directors. They can only act as non-executive directors not performing administrative duties. Such persons cannot be prosecuted for offenses committed by the company. it will be a travesty of justice to prosecute all Directors if the o...

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Not to count Voting % of absent Financial Creditors to count voting shares: NCLAT

IDBI Bank Limited Vs Mr. Anuj Jain (National Company Law Appellate Tribunal) - IDBI Bank Limited Vs Mr. Anuj Jain (National Company Law Appellate Tribunal) As the voting is on, which is likely to be completed today by 5.00 p.m., we are not inclined to pass any specific order in the present I.A. No. 1857 of 2019 filed by the ‘IDBI Bank Limited’. After voting the decision if...

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NCLAT order allowing re-opening of books and re-casting of financial statements of IL&FS valid: SC

Hari Sankaran Vs Union of India & amp (Supreme Court of India) - Hari Sankaran Vs Union of India & amp (Supreme Court of India) Civil Appeal No. 3747 of 2019 titled Hari Sankaran vs. Union of India & Others filed by Ex-Director of Infrastructure Leasing & Financial Services Limited before the Apex Court has been dismissed by the Hon’ble Cour...

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Company law not Stipulate any period for completion of Serious Fraud Investigation

Serious Fraud Investigation Office Vs Rahul Modi and Another Etc. (Supreme Court of India) - SFIO Vs Rahul Modi (Supreme Court of India) 1. Leave granted. 2. These Appeals challenge the correctness of the common interim order dated 20.12.2018 passed by the High Court of Delhi at New Delhi in Writ Petition (Crl.) Nos.3842 and 3843 of 2018. 3. In exercise of powers conferred by Section 212(1)...

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Statutory dues for taxes is Operational Debt: NCLAT

Pr. Director General of Income Tax Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT, Delhi) - Pr. DGIT Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT, Delhi) ‘Operational Debt’ in normal course means a debt arising during the operation of the Company (‘Corporate Debtor’). The ‘goods’ and ‘services’ including employment are required to keep the Company (‘Corporat...

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List of Valuation required under Companies Act 2013 & IBC 2016

No. IBBI/RVO/026/2019 - (16/09/2019) - A list of the provisions of the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016 under which valuations are required to be conducted by a registered valuer are given below. Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No...

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National Financial Reporting Authority (Amendment) Rules, 2019

Notification No. G.S.R. __ (E). - (05/09/2019) - (1) These rules may be called the National Financial Reporting Authority (Amendment) Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette....

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Pune Court notified as Special under companies Act for 8 districts of Maharashtra

Notification No. S.O. 3120(E) - (28/08/2019) - Court of District Judge-1 and Additional Sessions Judge, Pune- designated as special court for Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri and Sindhudurg districts of the State of Maharashtra under for the purpose of providing speedy trial of offences punishable with imprisonment ...

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Greater Mumbai Court notified as Special under companies Act for Maharashtra except 8 districts

Notification No. S.O. 3119(E), - (28/08/2019) - Presiding Officers of Court No’s. 37 and 58 of the City Civil and Sessions Court, Greater Mumbai is designated as special Court for Whole State of Maharashtra except Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri and Sindhudurg districts of the State of Maharashtra. GOVERNMENT OF I...

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Companies (Incorporation) Seventh Amendment Rules, 2019

G.S.R.603(E). - (28/08/2019) - In the Companies (Incorporation) Rules, 2014  in the annexure to the said rules, for forms RD-1 and RD GNL-5 forms shall be substituted vide Companies (Incorporation) Seventh Amendment Rules, 2019. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi 28th August, 2019 G.S.R.603(...

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Recent Posts in "Companies Act 2013"

Comparison of Share Valuation under different Indian Acts

Valuation for issue and transfer of shares (unlisted) under Income-tax Act, 1961, Companies Act, 2013 & FEMA Regulations been explained in detail in this article....

Read More

Simplified Guide for Incorporation of a Company

Introduction: With the introduction of SPICe Forms, the Ministry of Corporate Affairs (MCA) has simplified the procedure of company formation and thereby simplifying the ease of doing business in India. This article depicts the process of company formation through SPICe Forms & throws light on some newly introduced compliances such as...

Read More
Posted Under: Company Law |

List of Valuation required under Companies Act 2013 & IBC 2016

No. IBBI/RVO/026/2019 (16/09/2019)

A list of the provisions of the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016 under which valuations are required to be conducted by a registered valuer are given below. Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No. IBBI/RVO/026/2019 16th September, 201...

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Incorporation of Foreign Subsidiary Company in India

If A foreign company planning to set up business in India may incorporate a company under the Companies Act, 2013 as a joint venture or wholly owned subsidiary or set up Liaison Office/ Representative Office or a Project Office or a Branch Office of the foreign company which can be undertake activities permitted under the […]...

Read More
Posted Under: Company Law |

Procedure for Issuer/Scrutinizer on e-Voting System

Meaning Electronic voting (also known as e-voting) is voting that uses electronic means to either aid or take care of casting and counting votes. … It may encompass a range of Internet services, from basic transmission of tabulated results to full-function online voting through common connectable household devices. Applicability ...

Read More
Posted Under: Company Law |

The growth of collective redress (class action suits) in Europe

The concept of class action was introduced in India under the Companies Act, 2013. But this article analyses the same under the heading “collective redress” on the basis of” European Commission’s 2013 Recommendation on Collective Redress” in Europe. In a lay man’s language, the class suit is initiated by an individual or a sma...

Read More
Posted Under: Company Law |

MCA’s revised framework on Debenture Redemption Reserve: A relaxation or confusion?

Precedents of issue of debentures in India The requirement of creation of a Debenture Redemption Reserve is unique to India and is globally unheard of. This was inserted in India around the year 1998 in pursuance of recommendation of Committee formed under the chairmanship of Justice D.R. Dhanuka. Apparently, the very motivation for havin...

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Posted Under: Company Law |

All about Section 185 of Companies Act, 2013

Section 185 explains Provisions under Company Law Related to Direct or Indirect Loan or Advances to Directors by Company.  Loan or advances include loan represented by a book debt, to any of the directors or to any other person in whom the director is interested or give any guarantee or provide any security in connection […]...

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Posted Under: Company Law |

Procedure against Refusal to Transfer Shares | Companies Act 2013

Procedure Against Refusal To Transfer Shares Under The Provisions Of Section 58 Of The Companies Act 2013. The member of a public company can transfers his shares voluntarily at any time as per the provisions specified by the Articles of the Association of the Company, if the company refuse to transfer shares than the member […]...

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Posted Under: Company Law |

Secretarial Audit

> What is Secretarial Audit? Secretarial Audit means to check the compliances of various applicable rules and regulations applicable to the company during that particular period of review. It helps to detect instances of non compliances and facilitates taking correctives measures well in time. It audits the adherence of good corporate ...

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Posted Under: Company Law |

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