The Companies Act 2013 is a crucial legislation in India governing the incorporation, functioning, and management of companies. Learn about the key provisions, compliance requirements, and legal framework under the Companies Act 2013.
Company Law : The Companies Act, 2013 and related rules now require most public and private companies to issue and transfer securities only in d...
Company Law : The Companies Law Amendment Bill, 2026 proposes major reforms in corporate governance, compliance, and digital regulation. This ar...
Company Law : This guide explains the complete legal procedure for shifting a company’s registered office within the same state but under a di...
Company Law : Section 56 of Companies Act, 2013 requires execution of a proper instrument of transfer for transfer of interest of a member in a ...
Corporate Law : The article explains how digital adjudication systems, virtual hearings, and online compliance platforms are reshaping India’s c...
Company Law : Provisional list of audit firms of listed companies yet to file NFRA-2 for 2023-24. Filing deadline was 30.11.2025; fines apply fo...
Company Law : ICSI recommended restoring public access to basic company master data without mandatory login requirements. The representation sta...
Company Law : NFRA introduced guidelines to evaluate audit firms’ compliance and quality control systems. The framework emphasizes governance,...
Company Law : The issue is ambiguity in filing authority during liquidation. ICSI has requested clarity to enable liquidators to maintain statut...
Company Law : The initiative addresses inefficiencies in the current filing system and proposes consolidation and automation. It highlights a sh...
Income Tax : In a commercial suit regarding specific performance, High Court had allowed a Civil Revision Petition by setting aside the order o...
Company Law : The Madras High Court permitted Nidhi companies to submit fresh replies against NDH-4 rejection orders and directed authorities to...
Company Law : Legal Analysis and Narrative Brief: Dale and Carrington Investment Pvt. Ltd. and Another v. P.K. Prathapan and Others (Supreme Cou...
Company Law : Bombay High Court held that writ petition cannot be entertained in the face of availability of alternative remedy of approaching t...
Company Law : The case examined whether Tribunal approval was required for extending preference share redemption. It was held that such extensio...
Company Law : ROC Pune held that procedural lapses in a private placement involving one investor formed part of a single integrated transaction ...
Company Law : ROC Pune penalized a start-up company and its officers for delayed filing of e-Form MGT-14 relating to a Special Resolution under ...
Company Law : ROC Pune penalized a company and its directors for delayed filing of e-Form PAS-3 relating to private placement allotment under Se...
Company Law : ROC Pune penalized a company and its directors for utilizing private placement funds before filing return of allotment under Secti...
Company Law : ROC Mumbai-II imposed penalty under Section 450 after a company incorrectly mentioned the AGM date in Form AOC-4 XBRL. The order h...
MCA has vide General Circular No. 14/2021 dated 25.08.2021 issued updated FAQs on Corporate Social Responsibility (CSR) and withdrawn 4 earlier FAQs and clarifications issued by it from time to time. The FAQs on CSR broadly covers Applicability of CSR, CSR Framework, CSR Expenditure, CSR Activities, CSR Implementation, On-going Project, Treatment of Unspent CSR Amount, […]
An Independent Director is one who can give an independent assessment of the company, in particular on the questions of strategies, productivity, risk evaluation, capabilities and ethical standards. They are the ones whose duty is to provide an impartial and informed evaluation in the assessment of management and board performance.
The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership. Turnover should be less than INR 100 Crores in any of the previous financial years since incorporation.
Corporate Social responsibility The Concept of mandatory contribution towards Corporate Social responsibility (CSR) might be very new to us but in India, the concept of ‘Social responsibility‘ very much older. If we talk about social Responsibilities of a person then different religions have their own philosophies and doctrines about social responsibilities in different context. In […]
How a Non-Governmental Organization (NGO) can Increase the Chances of it’s Success with CSR Funding Many NGOs are working at the grassroots level to provide actual benefits to society, but only a small percentage of them are able to obtain CSR funds. The fact that NGOs are unable to adequately present their projects and what […]
The share capital is the contribution by the Owners of the Company. As per the provisions of the Companies Act, 2013, share capitals are of 2 kinds: – 1. Equity 2. Preference Again the Equity shares/ capital can be further divided into: – 1. Equity shares with voting rights 2. Equity shares without voting rights. […]
TO START A NEW BUSINESS, NO. OF QUESTION COME IN OUR MIND WHICH NEED TO KNOW BEFORE STARTING A BUSINESS AND TO GROW YOUR BUSINESS WITH LAW AND COMPLIANCE ANS ANSWERS TO ALL THAT QUESTIONS IN BELOW TABLE. BASIS Sole Proprietorship Partnership Firm Limited Liability Partnership (LLP) Private Limited Company Minimum Person involved Only one […]
Directors of the Company are considered as its trustees. Directors are the trustees of the company’s money and property, and also act as agents in the transaction which they enter into on behalf of the company. The Companies Act, 2013, through its provisions, plays a very important role in keeping position of director intact as […]
e-Form MGT-14 for board resolution, even in private company, shall be filed with the Registrar of Companies within 30 days of passing of board resolution and pay fee as per the Companies (Registration Offices and Fees) Rules, 2014.
1. Background of Debate Effectuated December 2016, the Sick Industrial Companies Act[1] was repealed to pave way to the Insolvency and Bankruptcy Code, 2016[2] (hereinafter “IBC”). The objects of the two acts were different in one substantial aspect: the latter focused on reviving a company so as it continues to survive as a going concern, aimed to act as a beneficial legislation and not merely focused on recovery. Recovery however being quintessential to IBC we saw that it and the Limitation Act, 1963[3] (hereinafter “Limitation Act”), which bars the right to recover money claims after a time lapse of 3 years from the cause of action, came face to face with each other and so became a long debate culminating finally this year. This debate arose on two counts. First, IBC was always meant to be a complete code in itself, an exhaustive code on the subject matter[4] and so the remedies given thereunder comprehensively cover all matters that it apprehends. Thus, it was naturally understood that IBC is not guided by any other legislative enactment. However it does not have a clause expressly barring application of limitation act which attracts Section 29 of the limitation act which brings us to the second. Second, the mandate of Section 29 of the Limitation Act makes it abundantly clear that all legislative enactments are to be guided by the Limitation Act “unless such enactment expressly excludes itself”. Now, even the words “expressly excluded” in the section have been interpreted to have a wider import by the Supreme Court (hereinafter “SC”) giving itself the power to interpret by reading of all the provisions of an act to infer such exclusion[5]. The interpretation of such an intention or otherwise rested again with the apex court. 2. Prior to Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 Initially the NCLT held in Neelkanth Township and Construction Pvt. Ltd. v Urban Infrastructure Trustee Ltd.[6] that the “provisions of the IBC cannot be shackled by the Limitation Act”. The court noted: “There is nothing on the record that Limitation Act, 2013 is applicable to IBC. Learned Counsel for the appellant also failed to lay hand on any of the provision of IBC to suggest that the Law of Limitation Act is applicable. The IBC, 2016 is not an Act for recovery of money claim, it relates to the initiation of Corporate Insolvency Resolution Process. If there is a debt which includes interest and there is default of debt and having a continuous course of action, the argument that the claim of money by Respondent is barred by Limitation cannot be accepted.” The NCLAT based its decision on the observation in Innoventive Industries Limited v ICICI Bank & Anr [7] that IBC is a comprehensive code which implies that it is independent of other laws. Now even though there was no provision in IBC that expressly barred the Limitation Act, the court observed that it remains open for the court to conclude so on a meaningful and comprehensive reading of the provisions. This view was further supported by M/S. Speculum Plast Pvt. Ltd. v Ptc Techno Pvt. Ltd[8]. and B.K. Educational Services Private Limited v Parag Gupta.[9] Even so, acting cautiously, the courts prescribed that the underlying utility of the doctrines like that of limitation must not be forsaken and it must be ensured that a deliberate delay does not go unpunished. Undoubtedly, the above ruling was bound to result in an increase in the number of applications and appeals. In the above background the Report of the Insolvency Law Committee of March 2018[10] came in which opined that “since the intent of the Code was not to array the Code as a fresh opportunity for creditors and claimants who did not exercise their remedy under existing laws within the prescribed limitation period, the Committee thought it fit to insert a specific section applying the Limitation Act to the Code”. The legislature finally taking note of this situation came up with Section 238A inserted vide an amendment[11] which clearly provided that the Limitation Act would apply to all the proceedings or appeals before the NCLT, NCLAT, DRT and DRAT.
