Registrar of Companies - Page 5

MCA announced new parameters for scrutiny of companies, cash at bank vital parameter for scrutiny

he Ministry of Corporate Affairs (MCA) has worked out new parameters for scrutiny of companies. These are based on reports on the Satyam fraud investigation. In instructions to the Registrar of Companies (RoC), MCA has pointed to 'cash at bank' as a vital parameter for scrutiny. Till now, the auditor's certificate was sufficient....

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Posted Under: Company Law |

Taxation of Limited Liability Partnerships (LLP) in India

Limited Liability Partnership Act, 2008 (LLP Act) was passed by the Parliament in December, 2008. Some of the sections of the LLP Act were made effective on 1-4-2009. Sections relating to conversion of existing partnership firms and private as well as public unlisted companies into LLP have been brought into force on 31-5-2009. Sections r...

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Posted Under: Company Law |

Satyam ex-directors being prosecuted on issue of head count

The head count in the fraud hit Satyam Computers, which engaged the attention of investigating agencies considerably, is now become the curse for the company’s former directors.A charge common to most of the accused in the complaints filed in a court here by the Serious Fraud Investigation Office (SFIO) is that they approved the company...

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Posted Under: Company Law |

Govt will know reinvestigations matters handled by arrested CLB member R Vasudevan

Vasudevan, who was director investigation and inspection ministry of corporate affairs before joining the CLB three months ago, was looking into high profile cases like the Satyam and the Sesa Goa fraud. "No we don't need to relook, it is the SFIO that has done the investigation, in the beginning it was done at the level of Regional Direc...

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Posted Under: Company Law |

Procedure to Set up a Branch Office in India

Foreign companies who are engaged in manufacturing and trading activities outside India are allowed, by Indian law, to set up branch offices in India for the following purposes: Export/Import of goods. Rendering professional or consultancy services. Carrying out research work, in which the parent company is engaged....

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Posted Under: Company Law |

Empanel with ROC for Technical Scrutiny of Balance Sheets, COP not required

Further, it may be noted that since technical scrutiny of balance sheet does not involve attestation function, accordingly any Chartered Accountant not holding certificate of practice is also eligible to apply for the subject panel. ...

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Posted Under: Company Law |

CBEC proposed to launch third party information system to tackle service tax evasion

Last Year, The CBEC, had planned a Third Party Information System (TPIS), a third party information model for excise duty. Now CBEC requires to reproduce the trials with service tax. As per board, it is a very effective and non-intrusive set up to obtain all apposite data to trap the tax evaders....

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Posted Under: Company Law |

MCA’s new mantra: Be a facilitator in corporate growth instead of just another regulator

The Ministry of Corporate Affairs (MCA) wants to shed its stern regulatory image and acquire a gentler, corporate-friendly reputation. The new mantra is to be a facilitator in corporate growth instead of just another regulator. The mantra is now being translated into action. For example, to cut out subjectivity in decisions, MCA has decid...

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Posted Under: Company Law |

Funds raised through initial public offers (IPO) will be under scanner for end-use

The Ministry of Corporate Affairs (MCA) has decided to conduct a quarterly scrutiny of the end-use of funds raised through initial public offers (IPO). To this end, the ministry has directed all Registrar of Companies (RoC) to coordinate with the stock exchanges to access the quarterly balance sheets of all companies that have come out wi...

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Posted Under: Company Law |

30 per cent of the 80,000 public limited companies not filing their annual returns

The Corporate Affairs Ministry said on Monday that around 30 per cent of the 80,000 public limited companies are not filing their annual returns.The Ministry has asked the Registrar of Companies (RoC) not to strike off the names of companies by classifying them as defunct, even if they have not filed their annual returns for three years. ...

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Posted Under: Company Law |

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