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 : Learn the rules for auditor appointments under the Companies Act, 2023, including first auditor, subsequent appointments, casual v...
Company Law : Summary: A debenture is a debt instrument issued by a company as per Section 2(30) of the Companies Act, 2013. It can be convertib...
Company Law : MCA issues notices for non-filing or delayed filing of cost audit reports under Section 148 of the Companies Act. Learn about pena...
Company Law : Court clarifies independent directors' liability, requiring proof of involvement in financial misconduct before defaulter classifi...
Company Law : MCA extends demat deadline to June 30, 2025. This impacts non-small private companies, allowing physical share transfers until the...
Company Law : NFRA's 2023 inspection of Deloitte Haskins & Sells LLP finds improvements but notes ongoing issues in key audit areas....
Company Law : NFRA highlights auditor responsibilities in related party transactions, emphasizing compliance with Ind AS 24, SEBI regulations, a...
Company Law : NFRA outlines audit strategy and planning requirements, emphasizing auditor communication with audit committees and compliance wit...
Company Law : NFRA's 2023 inspection of Walker Chandiok & Co. LLP reveals ongoing issues in independence and audit procedures....
Company Law : NFRA's 2023 inspection of SRBC & Co. LLP highlights audit quality issues, independence concerns, and compliance with auditing stan...
Income Tax : ITAT Delhi rules in favor of Schenker India, allowing CSR donations under Section 80G despite mandatory nature. Read key takeaways...
Company Law : NCLAT Delhi held that in case there is fraudulent and malicious initiation of Corporate Insolvency Resolution Proceedings [CIRP], ...
Corporate Law : NCLAT rules that appeals under Section 61 of IBC are invalid after corporate debtor dissolution. Explore the judgment on corporate...
Company Law : NCLAT Delhi held that the commercial wisdom of the Committee of Creditors [CoC] in rejecting resolution plan and opting for liquid...
Corporate Law : NCLAT Chennai held that after finalization of process of e-auction sale of Corporate Debtor, it cannot be permitted to consider Sc...
Company Law : Summary of the appeal by Aaryak Jewellery Pvt Ltd against penalties under Sections 42, 55, and 62 of Companies Act, 2013. Decision...
Company Law : The appeal by Maptech Poly Products Pvt Ltd against a penalty for non-maintenance of its registered office was dismissed by the Re...
Company Law : Tristar Transport India Pvt. Ltd. fined for delays in filing BEN-1 and BEN-2 under Section 90 of the Companies Act, 2013. Director...
Company Law : Tristar Transport (India) Pvt. Ltd. faces penalties for delayed compliance with Section 90 of the Companies Act, 2013, as per ROC ...
Company Law : Emperium Constructions Pvt Ltd fined Rs. 50,000 for delayed INC-20A filing. Directors penalized Rs. 19,000 each under Section 10A ...
WHY A NEW LAW WAS NEEDED? The changing national and international economic environment Exponential growth of the Indian economy Changes in the stakeholders’ expectations Manifold Increase in Number of Companies Year No. of Companies 1956 30,000 approx 2013 11,00,000 approx The need of a legal framework was felt to enable the Indian corporate sector to […]
Companies Bill, 2013 was passed by Lok Sabha on the 18th December, 2012 and transmitted to Rajya Sabha for its concurrence. Rajya Sabha passed the Bill with amendments at its sitting held on the 8th August, 2013 and returned it to Lok Sabha on the 12th August, 2013. On 13 August 2013, the Lok Sabha […]
The salient features of the new Companies law are: Business friendly corporate Regulation/ pro-business initiatives; e-Governance Initiatives; Good Corporate Governance and CSR; Enhanced Disclosure norms; Enhanced accountability of Management; Stricter enforcement; Audit accountability; Protection for minority shareholders; Investor protection and activism; Better framework for insolvency regulation; and Institutional structure. Other important features of the Companies Bill, 2012 are:
• The Bill has 470 clauses as against 658 Sections in the existing Companies Act, 1956. • The entire bill has been divided into 29 chapters.• Many new chapters have been introduced, viz., Registered Valuers (ch.17); Government companies (ch. 23); Companies to furnish information or statistics (ch. 25); Nidhis (ch. 26); National Company Law Tribunal & Appellate Tribunal (ch. 27); Special Courts (ch. 28).
The much-awaited Companies Bill, 2012 has been passed by Rajya Sabha at today’s session. So now, let’s gear up for new rules and regulations for better Corporate Environment. CS S. N. Ananthasubramanian, President, Council of the ICSI welcomes the brand new, modern, growth oriented and futuristic Company Law passed by Rajya Sabha today (08.08.2013). On […]
Business scandals involving high profile organizations such as Enron and WorldCom have rocked the corporate world and be-come front-page news. This has shaken consumer confidence in both business leaders and the economy, creating concern about business ethics and governance. As a result, corporate social responsibility (CSR) has become increasingly important. Corporate Social Responsibility is a […]
Revision in Form and Content of Auditor’s Report [SA 700 Revised)/SA 705/SA706] & Implementation of the same- Articles Discusses on the following Topics :- Extant Provisions Under Companies Act 1956 Applicability Of CARO With Respect To Audit Report Revision In Form And Content Of Auditors Report Implication On SA 700 (Revised) Auditors Report
With a view to add transparency, fairness and independence in decision making to safeguard of stakeholders’ interest, the concept of Independent Directors was introduced. While the concept was till date applicable on Listed Public Companies, the New Company Law proposes to introduce the same upon big Public Companies as well.
Companies Bill, 2012 defines ‘One Person Company’ (OPS)as a Company which has only one person as member. Further, clause 3of the Bill provides that a Company may be formed for any lawful purpose by one person. One Person Company is a Private Company formed by subscribing the name of such one person to the Memorandum […]
CA Punkaj Jain OUTLINE Background of Companies Bill, 2012 Definition Audit & Auditors Penal provisions Loans and Investments Directors, KMP’s and Governance Corporate Social Responsibility Regulatory bodies (NCLT, NFRA, SFIO)
