MCA has recently notified Sections 248 to 252 of Companies Act, 2013, w.e.f 26.1.2.2016 and also issued new rules for striking off names of companies referred as Companies (Removal of Names of Companies from the Registrar of Companies) Rules, 2016. The said rules are also effective from 27th December, 2016. INSTANCES FOR STRIKING OFF NAME...Continue Reading

Section 143(11) of the Companies Act, 2013 requires that Auditor report of specified classes of Companies should disclose the compliance on the specified matters. These reporting requirements have been prescribed under Companies (Auditor’s Report) Order, 2016 (CARO, 2016).   This is a step in the right direction to improve the quality of the Auditor’s Report...Continue Reading

Director’s Report has been an integral part of the financial statement of the Company. With the implementation of Companies Act, 2013, the Director’s Report has become synonymous to disclosing every activity that a Company indulges in thus providing mirror image of the Company’s actions during the financial year. In Companies Act, 2013, lot of sections...Continue Reading

Our Prime Minister, Shri Narendra Modi announced the Startup India Action Plan in India on 16th January 2016. The Scheme is revolutionary scheme which has been started to help the people who wish to start their own Business which qualifies to be a start up. To qualify in the category of start up, an entity...Continue Reading

Important Features of Listing Regulations Regulation 6 Company require to appoint Qualified CS, ensuring for compliance with applicable laws, monitoring grievance redressal Regulation 7 Mandatory in house SEBI share transfer facility if number of security holder exceeds 1 lac Regulation 13 Mandatory SCORES registration which is a investor grievance redressal mechanism Regulation 16 Material subsidiary...Continue Reading

Obligations of Independent Directors: Number of companies in which appointment can be made: A person shall not be Independent Director in more than 07 (seven) Listed companies If ID is whole time Director in any listed company then he can be appointed as ID in maximum 03 (three) Listed companies   Tenure of Appointment: Maximum...Continue Reading

Effective Date: Notified on 02nd September, 2015 Applicable w.e.f. 01st December, 2015 Applicability: All Listed Companies who has listed any specified securities in any stock exchanges All existing listed entities shall execute a fresh listing agreement within 06months from date of notification of SEBI LODR Regulations. Framework:                Total XII chapters and X Schedules Chapter defines...Continue Reading

What secretarial documents can be maintained as e-records? As per Section 120 read with Rule 27 of The Companies (Management and Administration) Rules, 2014, the following “Records” shall/ may be maintained electronically: All Statutory Registers Index Agreements Memorandum and Articles Minutes Any other document required to be kept by the Company under the Companies Act,...Continue Reading

WHAT CAN BE CONSTRUED AS ‘LOAN’? Since the term ‘loan’ is not defined under Section 2 of the Companies Act, 2013, it becomes absolutely necessary to understand the precise and concise meaning of word ‘Loan’, as there are serious implications in the event of non-compliances. As per the oxford dictionary, loan has been defined as...Continue Reading

Keeping in mind the global commercial environment and the shift from ‘brick and mortar’ to faceless websites, a need was felt to stop the sand from escaping the tight clutches of the tax department.   In the Finance Bill of 2015, the definition of Indian resident company under the Income Tax act was sought to...Continue Reading