Companies Act 2013 - Page 10

Preferential Allotment Vs Private Placement Vs Right Issue – An Analysis

India companies in order to invest funds in its business operations, explore many options like Issue of Shares, Debentures, Zero Coupon Bonds, Public Deposits, Loans from Banks and Financial Institutions and other traditional sources....

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Posted Under: Company Law |

Sanctioned for prosecution given to 366 cases in violation of CSR norms

Whenever any violation of Corporate Social Responsibility (CSR) provisions is reported, action against such non-compliant Companies are initiated as per provisions of Companies Act, 2013 after due examination of records. So far, sanction for prosecution has been accorded in 366 cases. All CSR related offences are compoundable. So far 118 ...

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Posted Under: Company Law |

Dematerialisation of Securities by Unlisted Public Company

Ministry of Corporate affairs (MCA) has inserted a whole new compliance for Unlisted Public companies dated 10th September, 2018. The new compliance has been inserted under Rule 9A- ‘Issue of securities in dematerialised form by unlisted public companies’, after the existing rule 9 of The Companies (Prospectus and Allotment of...

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Posted Under: Company Law |

Fine vis-a-vis Penalty imposed under Companies Act, 2013

Fine imposed when any application/ petition filed with any court (like: NCLT, High Courts) and penalty imposed when company made any non compliance and adjudicating authority directly can impose penalty on such companies....

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Posted Under: Company Law |

Chairman of a Company or Board- A prospective

Introduction Unless otherwise provided in the Articles of Association of the Company, the Companies Act, 2013 (‘CA, 2013’) and Listing Regulations, 2015 do not explicitly lay down provisions mandating the appointment/election of a permanent Chairperson of the Board. However, section 104 of the CA, 2013 provides that either the Chairpe...

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Posted Under: Company Law |

DIR-3KYC/KYC-WEB

The Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 came into force w.e.f 25th July, 2019 to amend the provisions related to KYC of directors. Following are the detail procedure :-   1. For those who had filed DIR-3-KYC once. Those directors  who holds DIN and had filed DIR-3KYC only needs to file [&he...

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Posted Under: Company Law |

How Modi Tighten disclosure norms for CSR under Companies Law

How Modi Tighten disclosure norms for Corporate Social Responsibility (CSR Policy) spending to its new India under Companies (Amendment Act),2019 A high-level panel on CSR is likely to propose increased disclosures to bring transparency in spending on these activities. India Inc may soon have to make higher disclosures on their corporate ...

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Posted Under: Company Law |

Appointment of Small Shareholders’ Director- An analysis

Who is a small shareholder: Small shareholder means a shareholder holding shares of nominal value of not more than Rs. 20,000/- (Rupees Twenty Thousand Only) or such other sum as may be prescribed. Objective: In order to protect interest of small shareholders. Provisions: Section 151 of the Companies Act, 2013 (hereinafter refer as “the...

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Posted Under: Company Law |

SFIO’s prepares 55 reports on fraud & misappropriation by Companies

During the last 3 years, 55 number of research reports prepared by Market Research and Analysis Unit (MRAU) have been submitted to the Ministry of Corporate Affairs (MCA). 12 number of investigations have been assigned to Serious Fraud Investigation Office (SFIO)....

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Posted Under: Company Law |

Online Examination by Independent Director – A prospective

Requirement by Independent Directors of inclusion of their names in the data bank of Indian Institute of Corporate Affairs, Manesar and clearance of Proficiency Test The Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019. The Ministry of Corporate Affairs/the Central Government, vide its notification dated ...

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Posted Under: Company Law |

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