Companies Act 2013 - Page 40

DIR-3 KYC & Web Based KYC – MCA Update Dated 25th July 2019

MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 w.e.f. July 25,2019 by introducing Web-based DIR-3 KYC and brought certain amendment in filing of form DIR-3 KYC Applicability of filing of e-form DIR-3 KYC 1) It is to be filed by an Individual who holds DIN and is filing his/her KYC details […]...

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25 Amendments in Company Law vide Companies (Amendment) Act, 2019

Article explains Amendment in Companies Act, 2013 vide Companies (Amendment) Act, 2019 in Section 26 : Matters to be stated in Prospectus amended, Section29 : Public Offer of Securities to be in Dematerilised Form, Section 35 : Civil Liability for Mis-statements in Prospectus, Section 90 : Register of significant beneficial owners in a co...

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Corporate Social Responsibility [From discretionary to disciplinary]

With the Corporate Social Responsibility (CSR), Companies are able to develop their own social investment strategies and decide where to invest and implement programs, but the government has recommended particular areas of need, including eradicating hunger and poverty, maternal and child health, promoting gender equality and environmenta...

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A Brief on Form No. BEN-1, BEN-2, BEN-3 & BEN-4

The main reason behind incorporating the concept of significant Beneficial owner, is to catch those individuals whose name does not appears in the register of members and who holds the significant Beneficial Interest in a Company. For Proper reporting of beneficial interest MCA has notified Form No. BEN-1, BEN-2, BEN-3 and BEN-4. Example ...

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CSR- Recent Amendment vide Companies (Amendment) Act, 2019

CSR (Corporate Social Responsibility) is understood to be the way firms integrate social, environmental and economic concerns into their values, culture, decision making, strategy and operations in a transparent and accountable manner and thereby establish better practice within the firm, create wealth and improve society. CSR is also cal...

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Company Law: Word fine replaced with penalty- Ease of levying Penalties?

Ease of doing business is a mirage? Companies Amendment Act, 2019 replaced the words fine with penalty. Is it a Ease of levying Penalties or ease of doing Business? Ease of doing business is a mirage? Companies amendment act 2019 replaced the words fine with penalty, stating that it will reduce the hardship of companies […]...

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Fine vs Penalty under Companies (Amendment) Act, 2019

Brief of 17 Sections under the Companies (Amendments) Act, 2019 *Note- Fine is imposed when any Compounding application/ Petition filed with NCLT or any Court, but the Penalty imposed when Company made noncompliance and adjudicating authority directly can imposed penalty on them. Sr. No. Section Description 1 53(3) Prohibition of Issue of...

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Major Change in Corporate Social Responsibility

Section 135 – Corporate Social Responsibility The Parliament has passed amendments to Companies Act and the bill now advocates for stricter laws for CSR. Amendments are made to Section 135 to carry forward the unspent corporate social responsibility amount, to a special account to be spent within three financial years and transfer t...

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Application by company to ROC for removing its name from Register of Companies

 Governing the eForm e-Form STK-2 is required to be filed pursuant to Section 248(2) of the Companies Act, 2013 and rule 4, 5, 6 & 8 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 which are hereunder for your reference.  Section 248 (2)  Without prejudice to the provisions […]...

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Amendments Through Companies (Amendment) Second Ordinance, 2019

(As also provided in the Companies (Amendment) Bill, 2019) (A) Re-categorising of offences: The list of offences which are re-categorised as defaults carrying civil liabilities which would be subject to an in-house adjudication mechanism, along with the pre-ordinance punishment in each case is as under: Punishment S. No. Section Nature of...

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