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 : Explore various threshold limits under the Companies Act, 2013, with detailed compliance requirements for listed, public, and priv...
Company Law : Understand the latest changes in DIR-3 KYC, including rules for updating email IDs and mobile numbers, fees, and filing details. L...
Company Law : Understand the nuances of signing board reports and financial statements under Companies Act and SEBI (LODR). Learn who must sign ...
Company Law : Learn the detailed process of splitting shares under the Companies Act 2013 and SEBI (LODR) Regulations 2015, from board resolutio...
Company Law : Learn about the compounding of offences under Section 441 of the Companies Act, 2013. Understand types of offences, authorities in...
Company Law : Discover the challenges faced by the Institute of Company Secretaries of India in filing Form DPT-3 for FY 2023-24. Learn about te...
Company Law : Explore the challenges faced by newly incorporated companies regarding mandatory ESI and EPF registrations in India, with proposed...
CA, CS, CMA : ICMAI issues advisory for members regarding Annexures in Cost Audit Reports & timely submission. Ensure compliance for statutory r...
Company Law : Delve into the NFRA order controversy with detailed analysis on penalty imposition, opinion disparities, and key issues. Gain insi...
Company Law : Explore the issues and challenges in processing MCA forms at CPC. Learn about the proposed solutions for timely approval and the i...
CA, CS, CMA : Read the full NCLT judgment/order on Union of India Vs CA. Ramaiah Nataraja. Bengaluru CA barred from statutory auditor role for c...
Company Law : Explore the Calcutta High Court's decision in Uphealth Holdings, INC. Vs Dr. Syed Sabahat Azim & Ors. regarding the applicability ...
Company Law : Read the full NCLT judgment where Zee Entertainment Enterprises Limited sought to withdraw its merger with Sony Groups, impacting ...
Company Law : Explore the implications of issuing duplicate debenture certificates under the Companies Act, 2013. Learn about legal remedies, as...
Company Law : Read the NCLT judgment approving the demerger scheme between Raymond Limited and Raymond Lifestyle Limited. Detailed analysis and ...
Company Law : Discover the adjudication order under Section 203(1) of the Companies Act, 2013. Standard Glass Lining Technology Ltd. penalized f...
Company Law : Check out the latest Companies (Incorporation) Amendment Rules 2024 issued by Ministry of Corporate Affairs, omitting word Nidhi f...
Company Law : Multiple Updates of Mobile Number or Email Address in DIN Allowed by MCA by submitting e‑form DIR‑3 KYC on payment of fees of ...
Company Law : Read about the Specified Companies Order amendment under Companies Act 2013 to enhance reporting on payments to micro and small en...
Company Law : Government of India amends Companies (Management and Administration) Rules, 2014. Learn about the changes and the new Form MGT-6 e...
It is generally said by every expert that an auditor will be removed under new company Law only after obtaining previous approval of central Govt. Sec 140(1) confirms this. However, in my opinion an auditor can be removed under new company Law without obtaining previous approval of central Govt also .
Third proviso to section 123(1) of the 2013 Act provides that no dividend shall be declared or paid by a company from its reserves other than free reserves. Rule 8.1 – A company may declare dividend out of the accumulated profits earned by it in previous years and transferred by it to the reserves, in the event of inadequacy or absence of profits in any year, subject to the fulfillment of the following conditions :
Section 128 of the Companies Act, 2013 provides for Maintenance of books of accounts under the new Companies Act. The erstwhile corresponding section 209 on Books of accounts to be kept by company of Companies Act, 1956 dealt with the books of accounts required to be maintained to give a true and fair view of the state of affairs of the company or branch office and to explain its transactions and also specify the place of keeping and period for which such books to be kept by the company.
Section 188 of the Companies Act, 2013 has been inserted in place of section 297 of the Companies Act, 1956. In previous law, it was mandatory to take Central Government approval for any transactions which was covered under section 297 of the Companies Act, 1956 where the paid up capital of the company was more than Rs. 1 cr.
Many corporate including Pvt Ltd Cos have other related group companies and they transfer money to & from other company as and when require. Stop doing this, even retrospectively from 12th September, 2013 as these can be treated as interest free loan u/s 185 of new company law.
Now, The Company may keep its BOA or other relevant papers in electronic form. The CG may direct that the BOA may be kept for a longer period in case of a company under inspection
Today i.e. October 23, 2013 is the last date for submission of suggestions/ comments for the 2nd tranche of Draft Rules being framed under the Companies Act, 2013. Earlier, the Ministry of Corporate Affairs had extended the date by 4 days to 23rd October 2013.
a) Private company can have a maximum of 200 members (earlier limit was upto 50). (Clause 2(68)). b) The maximum limit of directors in the Company has been increased to 15 with a power to add more directors upon passing of Special Resolution without taking CG approval as earlier required. One director can also form a company .
1) Section 19: Subsidiary company not to hold shares in its holding company:- The company shall not either by itself or through its nominees, holds any shares in its holding company and no holding company shall allot or transfer its shares to any of its subsidiary companies
The companies act, 2013 has come into existence on 29.08.2013 that replaces a nearly six decade-old legislation and overhauls the way corporate function and are regulated in the country. This article contains the description of some provisions related to audit and auditors which have been modified in companies Act, 2013. 1). Appointment of first auditor […]
