Companies Act 2013 - Page 30

Striking Off by ROC- Public Notice STK-5

What To Do In Case If Your Company’s Name Is Recently Published In The Public Notice Of Ministry Of Corporate Affairs, Office Of Registrar Of Companies, NCT Of Delhi & Haryana (ROC-Delhi), For Striking Off? ...

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Posted Under: Company Law |

Resolution by circulation under Companies Act 2013 read with SS-1

Resolution-by-circulation means the resolution which is passed by the circulation among the directors or members of the Board. Generally, the resolution was proposed to be passed when there is urgency or sometimes the resolution by circulation is preferred to avoid the procedural requirements of convening the physical Board Meeting....

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Posted Under: Company Law |

LLP Conversion Into Private Limited Company

In this article, we look at whether a Limited Liability Partnership (LLP) can be converted into a private limited company, Advantages of Conversion, Pre-Requisites For LLP Conversion into Company and Procedure For LLP Conversion into Company. Introduction Most of the Entrepreneurs opting for LLP registration are small businesses that do n...

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MCA Updates For the Month of July 2018

MCA has issued Companies (Accounts) Amendment Rules, 2018 w.r.t Board Report which shall come into force on the date of their publication in the Official Gazette i.e 31-07-2018. The Board shall additionally disclose, as to whether maintenance of cost records as specified by the Central Government under section 148(1) of the Companies Act,...

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Posted Under: Company Law |

GST details in Draft Companies (Cost Records and Audit) Amendment Rules, 2018

NA (06/08/2018)

Pursuant to introduction of GST, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to incorporate resultant changes. Accordingly, the Draft Companies (Cost Records and Audit) Amendment Rules, 2018 have been placed on the Ministry's website www.mca.gov.in for suggestions/ comments....

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Company Annual Filing- Form MGT-7 & AOC-4

Every Company registered under Companies Act, 2013 or Companies Act, 1956 is required to file their Financial Statements in e-Form AOC-4 including Directors Report along with other relevant attachments (ANNUAL REPORT) and Annual Return in e-Form MGT-7 within 30 days/60 days respectively from conclusion of its Annual General Meeting (AGM)....

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Director KYC under Companies Act, 2013 with FAQs

Who have to File DIR-3 KYC? Every Director who has been allotted DIN as on or before 31st march of a financial year submits e-form DIR-3KYC with central government....

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Posted Under: Company Law |

MCA ordered inquiry in 87 real estate companies

MCA has ordered inquiry in 87 companies, inspection of books and papers in 17 companies and investigation in 7 cases involving 149 entities including 5 LLPs engaged in real estate activities. ...

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Posted Under: Company Law |

2,25,910 companies under MCA scanner

2,25,910 companies under scanner of MCA for not filing returns for Year 2015-16 & 2-16-17 Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary said in Lok Sabha today that during financial year 2018-19, a total of 2,25,910 companies have been identified for action under Section 248 of Companies the [...

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Independent Director’s appointment – Board Resolution

On a brief go through with Section 149 & Schedule IV i.e. Code of Conduct for Independent Directors, it has been provided that the appointment of Independent Director is subject to the approval of members in the general meeting....

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Posted Under: Company Law |

Analysis of Disclosure of Beneficial Interest

Article aims to bring clarity on new Section 90 of Companies Act, 2013 introduced by Companies (Amendment) Act, 2017 and Companies (Significant Beneficial Owner) Rules, 2018 ...

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FAQ on Mandatory Annual KYC of all Directors on or before 31.08.2018

Q.1 Who have to File DIR-3 KYC? Ans: Every Director who has been allotted DIN on or before 31st march, 2018 and whose DIN status is ‘Approved’....

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Matters to Be Included in Board’s Report For One Person Company and Small Company

MCA amends Companies (Accounts) Rules 2014 introduces rule 8A vide G.S.R. (E).- In exercise of the powers conferred by section 134 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Accounts) Rules, 2014, namely Companies (Accounts) Amendm...

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Ambiguous nature of From RD1- Removal of Auditor

Ambiguous nature of From RD1 form when filed for approval regarding auditor removal before it's term of service with Central Government (Regional Director)....

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E-Form DIR-3KYC- Everything You want to know

As the Ministry of Corporate Affairs has started overhauling and cleaning its records and registry, it has initiated the process of Annual KYC of all the Directors (e-form DIR-3KYC) and giving a snag to the irregularities occurred due to outdated filing and unsystematic procedures. In the Editorial, Author has made an effort to throw ligh...

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Content of Director’s Report for FY Ended on March 31, 2018

Director’s Report pursuant to section 134 of the Companies Act, 2013 along with Rule 8 of Companies (Accounts) Rules, 2014 1. The Board’s Report shall be prepared based on the stand alone financial statements of the company and shall report on the highlights of performance of subsidiaries, associates and joint venture companies and th...

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Provisions of KYC Updation of Directors on MCA

As per new provisions, Every Director is required to file E-form DIR-3 KYC on or before 31st August 2018. Details regarding the same are as follows:- Introduction:- The Ministry of Corporate Affairs as part of updating its registry, is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC. […]...

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MCA notifies section 36 of Companies (Amendment) Act, 2017

File No. 1 /11/2018-CL.I (31/07/2018)

S.O. (E).- In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the day of 31st July, 2018 as the date on which the provisions of Section 36 of the said Act shall come into force....

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Companies (Accounts) Amendment Rules, 2018 dated 31.07.2018

Notification No. G.S. R.725(E) (31/07/2018)

Matters to be included in Board's Report for One Person Company and Small Company.- (1) The Board's Report of One Person Company and Small Company shall be prepared based on the stand alone financial statement of the company, which shall be in abridged form and contain the following:-...

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Don’t Wait For Last Day To file Your KYC By Filing Form DIR 3 KYC

E-Form DIR-3 KYC is required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of The Companies (Appointment and Qualification of Directors) Rules, 2014. Rule 12A of Companies (Appointment and Qualification of Directors) Rules, 2014 as introduced vide Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 20...

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How to Process With Drafting of Notice of AGM

Annual Filing of the Companies is the next important step marked in the compliance list. Every Company other than one person Company has to convene Annual General meeting (AGM) within a period of six months from the end of financial year and in case of first AGM, the same shall be held within a period […]...

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Provisions and Calculation of Median Remuneration

Article explains How to calculate Median Remuneration under Companies Act, 2013 read with Rule 5(1)(iii) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014....

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DIR-3 KYC (Application for KYC of Directors)

WHAT IS DIR-3 KYC? It’s a newly incorporated Form. MCA is conducting KYC of all Directors of all companies annually through a new e-form viz. DIR-3 KYC. MCA via its notification dated 5th July, 2018, requires directors to intimate their particulars to the Central Government in e-form DIR-3 KYC within the time as specified. E-Form...

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E-KYC by Directors

The Ministry of Corporate Affairs has recently notified that it would be conducting KYC (Know Your Customer) verification for Directors of all companies through a new eForm DIR-3 KYC. By filing DIR-3 eKYC form the Director would have to provide a unique personal mobile number and personal email address which would both be verified with an...

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Procedure of Stamp duty payment on share Certificate in Haryana

Company allot share Certificate by Private Placement or Right Issue or Preferential allotment have to issue the share Certificate within 60 days of allotment. After issue of shares, Stamp duty shall be paid to the government within 30 (Thirty) days from issue of Share Certificates....

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MCA notifies 2 more sections of Companies (Amendment) Act, 2017

Notification No. S.O. 3684(E) (27/07/2018)

MCA has issued Companies (Incorporation) Third Amendment Rules, 2018 and amended Companies (Incorporation) Rules, 2014 for Substitution of Explanation to Rule 3(1) relating to the meaning of the term ‘Resident in India’ and Rule 15 pertaining to Affidavit from Subscribers and First Directors. to give effect to such rules MCA has notif...

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Companies (Incorporation) Third Amendment Rules, 2018

Notification No. G.S.R. 708(E) (27/07/2018)

MCA has notified vide notification dated 27th July, 2018 Companies (Incorporation) Third Amendment Rules, 2018 to amend the Companies (Incorporation) Rules, 2014. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi 27 July, 2018 G.S.R. 708(E)._ In exercise of the powers conferred by section 3, sub-section (1) of secti...

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CG constitutes National Company Law Tribunal, Kochi Bench at Kochi

Notification No. S.O. 3683(E) (27/07/2018)

Central Government hereby constitutes the National Company Law Tribunal, Kochi Bench at Kochi and for the said purpose hereby makes the following further amendments in the notification of the Government of India, Ministry of Corporate Affairs number S.O. 1935 (E), dated the 1st June, 2016, namely:—...

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MCA to update KYC of Directors | New E-form DIR-3 KYC notified

The following points to be taken into account as per DIR-3 KYC for providing details and information: Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN status is ‘Approved’ would be mandatorily required to file form DIR-3 KYC....

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Posted Under: Company Law |

Checklist / Procedure for filing E-Form DIR-3 KYC

Like the KYC in Banks of Customers, Now MCA has introduced a new e-Form i.e. DIR-3 KYC for the KYC of Directors who have been allotted DIN. DIR-3 KYC is an extension to Form DIR-3 whereby the Director has to provide its Identity, Address Proof & other information along with its Personal Mobile No. and E-mail Id etc....

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Posted Under: Company Law |

Filling of Resolutions Complete Analysis Sec 117

Sub Sec (1) of Sec 117 copy of every resolution or any agreement, in respect of matters specified in sub-section (3) of Sec 117 together with the explanatory statement under section 102, if any, annexed to the notice calling the meeting in which the resolution is proposed,...

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Removal of Disqualification of Director

In September, 2017, ROC barred or disqualified around 3,09,614 directors for the five years due to non-compliance of the provision of the Companies Act. After this action the DIN and DSC of all the disqualified directors can’t be used in filing of any document and such director need to resign from all the Companies....

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Posted Under: Company Law |

Split of position of Chairperson & MD in listed companies

The first proviso to section 203(1) of Companies Act, 2013 provides that an individual shall not be appointed/reappointed as the chairperson of a company as well as its MD/CEO at the same time unless the articles of such company provide otherwise or the company does not undertake multiple businesses....

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Significant Beneficial Owner under Companies Act, 2013

Section 90(1) of Companies Act, 2013– significant beneficial owner Every individual, who acting alone or together, or through one or more persons or trust, including a trust and persons resident outside India Holds beneficial interests, of not less than twenty-five per cent. or such other percentage as may be prescribed, in shares o...

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Director KYC (DIR-3 eKYC) Norms- All You Need to Know

This Article contains the various provisions of DIR-3 e-KYC norms, fees and consequences of non-filing within due date and guide to file form DIR-3 KYC....

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Companies (Significant Beneficial Owners) Rules, 2018- Analysis

The Ministry of Corporate Affairs vide its notification dated June 13, 2018 introduced the Companies (Significant Beneficial Owners) Rules, 2018 with the intention of identification of Significant Beneficial Owners who required to comply with certain formalities as per the above-mentioned rule. Applicability of Companies (Significant Ben...

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Significant Beneficial Ownership under Companies Act, 2017

Section 90 of the Companies Amendment Act, 2017 has replaced the provision relating to Significant Beneficial Owners to remove the difficulties on regulatory authorities to verify the identity of individuals who ultimately owned and controlled the company....

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Formation of Company (Section 3 of Companies, Act, 2013)

Article explains Classification of Companies as limited Companies and unlimited Companies, Classification of Companies as Private and Public Companies, Legal Requirements for formation of a Company and also about formation of Public Company, Private Company and One Person Company (OPC). Classification of Companies as limited Companies and...

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Draft Format of Board of Directors Report For FY 2017-18

On the Letter Head of Company BOARDS’ REPORT To The Members, ……………………PRIVATE LIMITED Your Directors have pleasure in presenting the …….. Boards’ Report of the Company together with audited Statement of Accounts and the Auditors’ Report of your company for the financial year ended 31st March, 20xx. FINANCIAL...

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Posted Under: Company Law |

Procedure For Increase In Authorised Share Capital of A Company

1. Check the Articles of Association (AoA) of the Company to verify whether necessary authority/powers is there to increase the authorised share capital of the Company. Note: If such authority is not provided for in the Articles of Association, then the provisions in AoA has to be amended to include provisions authorising the company to [...

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Updated guidelines for companies to facilitate refund of claims by IEPF

No. 07/05/2017-IEPFA (19/07/2018)

In supersession of the guidelines issued earlier, the revised and updated guidelines for the companies to facilitate the refund of the claims by IEPF Authority in the light of resubmission option provided in eform IEPF-5 and list of annexures to be attached in the verification report are enclosed. ...

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Shifting of Registered Office of Company from one state to another state

A Registered Office of the Company is the official address/correspondent address of a company to which all official letters & reminders will be sent by any person, any government or non-government or regulatory body. In terms of Section 7 of the Companies Act, 2013 (the “Act”), all registered companies are legally required to have...

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DIR-3 KYC Form to Update DIN / KYC of Directors

CA would be conducting KYC of all Directors of all companies annually through the e-form DIR-3 KYC. Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in Approved status, would be mandatorily required to file form DIR-3 KYC on or before 31st August, 2018....

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Posted Under: Company Law |

Conditions & Manner of providing Exit Options to Dissenting Shareholders

A Company is run by Board of Directors and officers of the Company. They have been appointed by Shareholders of the Company. The true owner is the Shareholders of the Company, who have exercise their rights through meeting of members. ...

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Form DIR-3 KYC Filing Rules

Every Director who has been allotted DIN on or before 31st day of March, 2018 and whose DIN is in Approved status would be mandatorily required to file form DIR-3 KYC on or before 31st day of August, 2018....

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Posted Under: Company Law |

All about Form DIR-3 KYC

Ministry of Corporate Affairs (MCA) in order to update its registry is conducting KNOW YOUR CLIENT (KYC) of all the Directors of all Companies annually through a form viz. DIR-3 KYC. Accordingly, MCA has notified Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018 and a new rule 12A has been inserted to pr...

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Removal of Directors Disqualification without Revival of Company

The drastic step of Mass Disqualification of Directors and deactivation of DINs by ROC has left the whole Industry flabbergasted and startled. This is not a road block but a beginning in the line with Compliance module. Directors are being provided with various opportunities to get their Disqualification Removed and DIN Restored even if t...

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Declaration By Beneficial & Significant Beneficial Owners Section 89 & 90 of Companies Act 2013

This write up is prepared in regards to the newly introduced/ substituted provisions under the Companies Act, 2013 (herein referred thereafter ‘the Act’) i.e. Section-90 (Register of significant Beneficial Owners in a Company) herein enforced[1] and the Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018 (...

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Cyrus Mistry-Tatas feud: Rights of Minority shareholders compromised??

NCLT, Mumbai Bench dismissed the petition filed by Cyrus Mistry who incidentally owns about 18.3% (including preference capital) of Tata Sons Limited. NCLT ruled that Tata Sons Limited has all the rights to remove its Executive Chairman and NCLT found no merit in Mistry’s  allegations of operational mismanagement and oppression of mino...

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All about e-Form DIR 3- KYC

Introduction To E-Form DIR 3- KYC- MCA vide Notification dated 5thJuly, 2018 has amended Companies (Appointment and Qualification of Directors) Rules, 2014 by inserting Rule 12A and made Directors KYC mandatory which is effective from 10th July 2018....

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E-form DIR-3 KYC to update database of Directors with MCA

Every Director of a Company is required to filed E-for DIR-3KYC on or before April 30 every FY for DIN as on March 31 immediate previous year, otherwise delayed fee of Rs. 5,000/- shall be charged. Further, For the current FY (2018-2019), no fee shall be chargeable till August 31, 2018 and delayed fee of Rs 500 shall be charged on or aft...

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eForm DIR-3 KYC – Things to know before filing

A.  Law(s) Governing the eForm DIR-3 KYC i. Company Law Rules related to eForm DIR-3 KYC eForm DIR-3 KYC is required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of The Companies (Appointment and Qualification of Directors) Rules, 2014 as amended by  Companies (Appointment and Qualification of Directors) fourth Amendment Rule...

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Complete your Director’s KYC before 31st August, 2018 to save penalty of Rs.5,000/-

MCA notifies format of e-form DIR-3 KYC under new Rule 12A (Directors KYC) along with procedure for restoration of deactivated DINs of Directors, applicable w.e.f. 10 July, 2018...

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E-KYC drive through e-form DIR-3KYC is operational from 14.07.2018

MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC. Important points to be noted: 1. Every Director who has been allotted DIN on or before 31st march, 2018 and whose DIN status is ‘Approved’. 2. Due date of filing of DIR-3KYC is on or before 31st August, […]...

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eFORM DIR-3 KYC

Recently notified new eFORM DIR-3 KYC by Ministry of Corporate Affairs (MCA), states that, 'As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly'....

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Posted Under: Company Law |

E-KYC Drive through e-form DIR-3KYC is operational from 14.07.2018

MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC. Important points to be noted: 1. Every Director who has been allotted DIN on or before 31st march, 2018 and whose DIN status is ‘Approved’. 2. Due date of filing of DIR-3KYC is on or before 31st August, […]...

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Notification of sections under Companies (Amendment) Act, 2017

Commencement Notification for

In reference to Commencement notification dated May 07, 2018, June 21, 2018 and July 05, 2018  the Ministry of Corporate Affairs has notified the following Sections of the Companies (Amendment) Act, 2017: 1.Notification No. S.O. 1833(E) Dated 07th May 2018– .—In exercise of the Power conferred by Sub-Section (2) of Section 1 of t...

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MCA constitutes Committee to review offences under Companies Act, 2013

F. No. 2/1/2018-CL.V (13/07/2018)

Ministry of Corporate Affairs (MCA) has constituted a 10 Member Committee, headed by the Secretary of Ministry of Corporate Affairs, for review of the penal provisions in the Companies Act, 2013 may be setup to examine ‘de-criminalisation’ of certain offences....

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Company Law Planning – A Necessity

Various Sections of the Companies Act, 2013 and rules made thereunder have undergone a sea change. Company Directors and Company Secretaries and Chartered Accountants need to understand Basic Provisions of the Companies Act, 2013 and future effects of changes in Law on the functioning of Companies which need to be considered while impleme...

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Mandatory Annual KYC of all Directors of all companies

As part of updating its registry, MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC . DIR-3 KYC is been notified vide Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 and would be made available shortly for filing purposes. While filing...

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New E-KYC form DIR-3 for Company Director Notified

MCA on Friday notified about the new annual form – DIR-3 KYC and also specified the fee structure for the laid form. MCA on Friday said, In case of Current FY 2018-19, no fee would be Chargeable till August 31, 2018 and fee of Rs.5,000.00 would be payable on or after September 1, 2018....

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DIR-3 KYC certification by Professionals- What needs to be certified

In this editorial the author made an effort to discuss the key check points for professionals while preparing, verifying and certifying the e-form DIR-3 KYC. As its is mentioned in the form that it should be certified by the professionals which includes-...

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Mandatory Filing of DIR-3 KYC for all Directors- 8 Key Points

On 10Th July 2018 it is made mandatory for the Directors to file ‘DIR-3 KYC’ notified vide Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 would be made available shortly for filing purposes on MCA site....

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Summary of Company law rules as amended on 05.07.2018 & 07/05/2018

MCA vide notification dated: 05th July, 2018 has amended many rules of Companies Act, 2013 to support notified 75 sections of Companies Amendment Act, 2017. In this editorial author shall endeavor to briefly discuss such amended rules....

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Requirement for KYC of Directors- Form No. DIR-3-KYC

As the continuous effort from the Ministry toward the more complied environment the latest step has come to weed out bogus directorships and updating its registry, Ministry of Corporate Affairs (MCA) has decided to conduct KYC process for all directors, including those who have been disqualified, of all companies annually....

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Posted Under: Company Law |

Loan to Holding Company [Section 185]

In this article author analyses provisions of Section 185 of Companies Act, 2013 as substituted by Companies Amendment Act, 2017 related to Loan to Holding Companies....

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Sections not yet enforced of Companies (Amendment) Act, 2017

MCA has so far issued Notification S.O. 351(E) dated: 23/01/2018, S.O. 630(E) dated: 09/02/2018 and S.O. 1833(E) dated: 07/05/2018 by which various provisions of Companies (Amendment) Act, 2017 is been made effective. This Article discusses Provisions of Companies (Amendment) Act, 2017 which are not yet enforced-...

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List of Sections of Companies Amendment Act, 2017 notified so far

Notifications Notifying applicability of Sections of Companies Amendment Act, 2017  MCA vide notification dated 05th July, 2018 notified 4 Section of Companies Amendment Act, 2017. These 4 sections shall be come into effect w.e.f. 15th August, 2018. (LIST A). MCA vide notification dated 05th July, 2018 notified 1 Section of Companies Ame...

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Analysis of notifications dated 05th July 2017 amending Company Law Rules

COMPANIES (REGISTRATION OFFICES AND FEES) THIRD AMENDMENT RULES, 2018– FEE FOR FILING DIR3-KYC MCA vide its notification dated July 05, 2018 issued Companies (Registration Offices And Fees)  Third Amendment Rules, 2018  in order to amend its existing rules Companies (Registration Offices And Fees)  Rules, 2014. These rules will c...

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Companies Amendment Act, 2017: Notification dated 5th & 6th July 2018

Ministry of Corporate affairs has recently issued two notifications dated 5th & 6th July 2018 by which it has made few provisions of Companies Amendment Act, 2017 applicable from 5th July 2018 and few are notified to be effective from 15th August 2018....

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KYC updation for all directors of all companies

MCA introduced the KYC norms for all directors of all Companies. To implement this, MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 effective from 10th July, 2018. In this write up we discussed about the various practical aspects of the Companies (Appointment and Qualification of Directors) fourth am...

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Posted Under: Company Law |

Corporate Social Responsibility: A Simple Analysis

CSR Companies : Every company having net worth of rupees five hundred crore or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year – Section 135(1) Meaning of Net Worth : The aggregate value of the paid-up share capital and […]...

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Steps to be taken by compliance officers in the sea of amendments

In the array of amendments in SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 (SEBI LODR) and the Companies Act, 2013 (Act), the compliance for the listed entities has increased significantly. Circulars issued by NSE and BSE add a significant amount of spice to the already overburdened scenario. Amendment in SEBI L...

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What is Form DIR-3-KYC?

DIR-3-KYC is a new E-form to be launched shortly by the Ministry of Corporate Affairs.  This form will be used to update KYC of all directors.  As per rule 12A of Companies (Appointment and Qualification of Directors) Rules, 2014 AS inserted by Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018 applicabl...

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Synopsis of Company Law Rules Amended/ Notified in Year 2018

Synopsis of Rules under the Companies Act, 2013: Amended; Notified In Year 2018 Please to share the article on the summary of updated/ amended Rules under the Companies Act, 2013, in year 2018 from the Month of January to July 2018 at glance with respective notification dates and effective dates Chapters Section Title Sections Applicable ...

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Analysis of Disclosure of Beneficial Interest under Companies Act, 2013

Article aims to bring clarity on new Section 90 of Companies Act, 2013 introduced by Companies (Amendment) Act, 2017 and Companies (Significant Beneficial Owner) Rules, 2018 ...

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Posted Under: Company Law |

KYC of Director- Applicability and Method

As per the statement given this month by MCA Secretary Sh. Injeti Srinivas, MCA has formally announced the Annual KYC Drive through the e-form DIR-3KYC. As part of updating its registry, MCA would be conducting KYC of all Directors of all Companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly....

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Posted Under: Company Law |

FAQs on Cancel SRN due to Unsuccessful Payment

When should I cancel SRN? You can cancel your SRN if following two conditions are met: 1. In case payment of the uploaded eform was unsuccessful for technical reason and no option is available for making such payment again, then cancel your G and E series SRN. 2. If your account is not debited. How […]...

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FAQS on Notice for removal of company name from register of companies

ROC’s has issued several notices in form STK-5 in the month of May and June, 2018 u/s 248(4) of Companies Act, 2013. Notices has been sent to those Companies, which according to ROC have not been carrying on any business or operation for a period of two immediately preceding financial years....

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How to Prepare Directors’ Report As Per Companies Act, 2013

Director Report is very crucial document of a Company. Every Company has to prepare it annually. It is governed by Section 134 of Companies Act, 2013. This section states, the clauses which are required to be mentioned in Directors Report. As per Companies Act, 2013 It is the responsibility of Directors of the Company to […]...

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MCA notifies 5 more Sections of Companies Amendment Act 2017

MCA vide its notification dated July 6 2018 notified 5 Sections of the Companies Amendment (Act), 2017 of which Section 20 will be effective from July 5, 2018 while date of enforcement of remaining Sections is w.e.f. August 15, 2018....

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eform DIR-3 KYC – Time Limit and Consequence of non-filing

For the purpose of updating its registry, MCA has introduced a new eform DIR-3 KYC to conduct KYC of all Directors of all Companies annually. So every individual who has been allotted a DIN as at 31st March of a financial year is required to intimate his particulars to the Central Government by filing eform DIR-3 KYC....

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Posted Under: Company Law |

KYC of Directors, Form DIR- 3 KYC – Under Companies Act, 2013

Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018 require that EVERY PERSON HOLDING DIN MUST GET HIS KYC UPDATED WITH THE MINISTRY OF CORPORATE AFFAIRS WITH IN DUE DATES PROVIDED IN THE RULES....

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Corporate Business & Types of Companies

The growth of an economy is characterized by vibrant business activities and for the development of a good economy or nation, there has to be a regulatory framework that aims to carry out activities of an economy in a pre-determined manners, so that the development takes place throughout the length and breadth of the country in an orderly...

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Posted Under: Company Law |

DIR-3 KYC- 8 Things you must know

1. Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31st August,2018. 2. MCA notifies format of e-form DIR-3 KYC under new Rule 12A (Directors KYC) along with procedure for restoration of […]...

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Posted Under: Company Law |

KYC is the buzzword for Company Directors

The due date for filing the e-Form DIR-3 KYC is on or before August 31, 2018, and should be certified by practicing professional. This process will also help in restoring the deactivated DINs of directors....

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Posted Under: Company Law |

Incorporation of section 8 company:

Incorporation of section 8 company: Step 1: Apply of name through RUN. We can’t directly go through the spice form for incorporation of section 8 company. Step 2: The application for grant of licence in form INC – 12 shall be accompanied by the following documents, namely: – (a) the draft memorandum(inc 13)and articles of […]...

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Posted Under: Company Law |

Incorporation Process of Section 8 Company Under Companies Act, 2013

1. In India, there are 3 different types of non-profit organization exists as per type of registration with authorities which are 1. Trust 2. Societies and 3. Non-Profit Company (Section 8) 2. Any person or association of person including a partnership firm or an existing company can form section 8 company. 3. Section 8 companies’ [&hel...

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Posted Under: Company Law |

Companies (Registration Offices and Fees) Third Amendment Rules, 2018

G.S.R. 616(E) (05/07/2018)

Fee payable till the 30th April of every financial year in respect of e-form DIR-3 KYC as at the 31st March of immediate previous year.- Nil and Rs. 5000 thereafter...

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Companies (Registration of Charges) Amendment Rules, 2018

G.S.R. 614(E) (05/07/2018)

A company or charge holder shall within a period of three hundred days from the date of the payment or satisfaction in full of any charge registered under Chapter VI, give intimation of the same to the Registrar in Form No.CHG-4 along with the fee ...

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Companies (Authorised to Register) Second Amendment Rules, 2018

File No. 01/ 4/2016 CL V (05/07/2018)

These rules may be called the Companies (Authorised to Register) Second Amendment Rules, 2018. They shall come into force with effect from 15th August 2018....

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Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018

G.S.R. 615(E) (05/07/2018)

The de-activated DIN shall be re-activated only after e-form DIR-3-KYC is filed along with fee as prescribed under Companies (Registration Offices and Fees) Rules, 2014....

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Companies (Acceptance of Deposits) Amendment Rules, 2018

G.S.R. 612(E) (05/07/2018)

Companies (Acceptance of Deposits) Amendment Rules, 2018 - A certificate of the statutory auditor of the company shall be attached in Form DPT-1, stating that the company has not committed default in the repayment of deposits or in the payment of interest on such deposits accepted either before or after payment of interest on such deposit...

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Section 15,16,75 & 76 of Companies Amendment (Act) 2017 Applicable from 15.08.2018

S.O. 3300(E) (05/07/2018)

Central Government hereby appoints 15th August, 2018 as date from which provisions of Section 15,16,75 & 76 of Companies Amendment (Act) 2017 shall come into force....

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Section 20 of Companies Amendment (Act) 2017 Applicable from 05.07.2018

S.O. 3299(E) (05/07/2018)

Central Government hereby appoints the 5th July, 2018 as the date on which the provisions of Section 20 of Companies (Amendment) Act, 2017 shall come into force....

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Mandatory KYC update for Directors of Indian Inc.

As a part of maximum governance slogan of current central government, Ministry of Corporate Affairs (MCA) is launching a new form soon, which will require KYC of all existing directors of companies registered with Registrar of Companies (ROC). ...

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Posted Under: Company Law |

Notified Sections of Companies (Amendment), Act 2017 in Tabular Form

The List contains the notified Sections of the Companies (Amendment) Act, 2017 as on 29.06.2018....

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Posted Under: Company Law |

Annual KYC of all Directors of all companies: FAQs

A. Who have to File DIR-3 KYC?Every Director who has been allotted DIN on or before 31st march, 2018 and whose DIN status is ‘Approved’....

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Posted Under: Company Law |

Suggestions in respect of Recent drive of Striking Off defaulting company name

It is written that the partners should file all the pending forms AOC 4 and MGT 7 along with representation letter and the requisite strike off forms with the Registrar along with the fees and penalty with in one month from the date of issue of such notice. On due satisfaction the name will be struck off....

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Posted Under: Company Law |

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