Companies Act 2013 - Page 344

Companies (Removal of Difficulties) Order, 2017

Order No. S.O. 2042(E) (29/06/2017)

And, whereas, re-appointment of liquidators by companies which had passed resolutions for voluntary winding up under the 1956 Act before 1st April, 2017 and making of report by the Official Liquidators to the High Court (wherein reports have been made by liquidators to the Official Liquidators) would create difficulties;...

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Companies (Transfer of Pending Proceedings) Second Amendment Rules, 2017

GSR. 732(E) (29/06/2017)

Pending proceeding relating to voluntary winding up.- All proceedings relating to voluntary winding up of a company where notice of the resolution by advertisement has been given under sub-section (1) of section 485 of the Act but the company has not been dissolved before the 1st day of April, 2017 shall continue to be dealt with in acco...

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Amendments to Companies (Specification of Definitions Details) Rules, 2014- Comments Invited

No. 3/3/2017-CL-I (28/06/2017)

A notification proposing amendments to the Companies (Specification of Definitions Details) Rules, 2014 containing the above prescription has been drafted and is available, along with a background/explanatory note, on the online portal of the Ministry, www.mca.gov.in....

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Over Riding Effect of IBC Code on Other Acts

In this Flash editorial column, the author begins by referring the provisions of Insolvency and Bankruptcy Code, 2016 in relation to section 238 of IBC Code, 2016....

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Posted Under: Company Law |

Treatment of Real Estate “Advance”- NCLT- Insolvency Code

In this Flash editorial column, the author begins by referring the provisions of Operational & Financial Creditor of Insolvency and Bankruptcy Code, 2016 in relation to Treatment of Advance for Real Estate Project....

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Posted Under: Company Law |

Time Limits under IBC are Mandatory

In this Flash editorial column, the author begins by referring the provisions of Insolvency and Bankruptcy Code, 2016 in relation to Times Lines given under IBC Code, 2016....

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Posted Under: Company Law |

Mandatory Filing of Certificate from Financial Institution in case of Operational Creditor – NCLT – Insolvency Code

In this Flash editorial, the author begins by referring the provisions of Section 9(3) (c) of IBC, 2016 in relation to Certificate from Financial Institution. Since the code come into effect from December 2016 all the applicants/ creditors have begun to file applications under the Code. ...

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Posted Under: Company Law |

Notice at registered office of borrower is mandatory for initiation of insolvency process – NCLT – Insolvency Code

In this Flash editorial, the author begins by referring the provisions of rules 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 in relation to Deliver of Notice at registered office of Corporate Debtor....

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Posted Under: Company Law |

MCA continues to shower relaxations on private companies

MCA vide notification dated 22nd June, 2017 issued Companies (Audit and Auditors) Second Amendment Rules, 2017, effective immediately from the above date. The Rules are meant to further amend the Companies (Audit and Auditors) Rules, 2014. The amendment pertains to corresponding rule for Section 139(2), regarding rotation of auditors in t...

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Posted Under: Company Law |

MCA increases paid up share capital limit for rotation of private companies auditors

G.S.R. 621(E) (22/06/2017)

Paid up share capital limit for rotation of auditors in case of private companies has been increased from rupees twenty crore to rupees fifty crore or more. There are no changes in other criteria....

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