COMPANY LAW

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AGM Extension: Draft Board Resolution

Draft Board Resolution for Extension of AGM EXTRACTS OF THE MINUTES OF THE  ………… (no. of meeting) MEETING OF THE BOARD OF THE DIRECTORS OF ……………………… LIMITED (THE COMPANY) HELD ON ………….DAY, ……………(date) AT …………(time) AM/PM AT THE REGISTERED OF THE COMPANY AT …………………………… The Chairman informed the Board that as our company having (mention …

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SEBI Nomination Scheme details for Mutual Fund

In order to bring uniformity in practices across all constituents in securities market, protect the interests of investors in securities and to promote the development of, and to regulate the securities market Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 dated 15th June, 2022 has issued notification related to Nomination for …

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SEBI Modified Cyber Security and Cyber resilience framework of Mutual Funds and AMCs

In order to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/IMD/IMD-I/DOF2/P/CIR/2022/81 dated 09th June, 2022 has issued notification related to Modification in Cyber Security and Cyber Resilience Framework of Mutual Funds/ Asset Management …

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Today’s MCA Tech Update- AO codes for PAN and TAN are different and can be found at links below

💡Today’s MCA Tech Update 🧾AO codes for PAN and TAN are different and can be found at links below. Please do not affix or suffix zeros to AO codes.💡AO Codes for PAN https://www.tin-nsdl.com/services/pan/pan-aocode.html💡AO Codes for TAN https://www.tin-nsdl.com/services/tan/tan-ao-code.html Example: AO code for PAN for Dilshad Garden area in Delhi is DEL W 64 1 while AO …

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The LLP (Amendment) Act, 2021

ICAI Announcement by CL&CGC regarding Amendment in Companies Rules, 2016

Announcement by CL&CGC regarding Amendment in Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. – The Ministry of Corporate Affairs vide notification dated 9th June 2022 has amended the provision of the Companies ( Removal of Names of Companies from the Register of Companies ) Rules , 2016 . Pursuant …

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Govt. Clearance is must for appointment as directors in Indian Companies

Govt. Clearance is must for appointment as directors in Indian Companies   Ministry of Corporate Affairs (MCA) vide Gazette Id no. CG-DL-E-01062022-236214 & F.No.1/22/2013-CL-V dated 01st June, 2022 has issued “the Companies (Appointment and Qualification of Directors) Amendment Rules, 2022” further to amend the Companies (Appointment and Qualification of Directors) Rules, 2014, in exercise of …

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MCA Amends Strike-off of Rules

Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022 Ministry of Corporate Affairs (MCA) vide circular / notification dated 09th June, 2022 has issued “Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022” further to amend the Companies (Removal of Names of Companies from the …

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LLP Form 11 for FY 2021-22 due date extended till 30th June 2022

Corporate Laws & Corporate Governance CommitteeThe Institute of Chartered Accountants of IndiaJune 03, 2022LLP Form 11 for FY 2021-22 due date extended till 30th June 2022 This is to inform you that Ministry of Corporate Affairs vide its General Circular dated 27th May 2022 has relaxed the payment of additional fees in case of delay …

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Extension of due date for filing of Form CSR-2 for FY 2020-21

Extension of due date for filing of Form CSR-2 for FY 2020-21 till 30th June, 2022 and requirement of separate filing of Form CSR-2 for FY 2021-22 on or before 31st March, 2023 This is to inform you that the Ministry of Corporate Affairs vide its notification dated 31st May 2022 has extended the due …

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Relaxation in paying additional fees in case of delay in filling all the event based e – forms by LLPS

Subject : Relaxation in paying additional fees in case of delay in filing all the event based e – forms by LLPs which are due on and after 25th February , 2022 to 31st May , 2022 up to 30th June , 2022 – reg . This Ministry has received representations seeking extension of timelines …

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SEBI Simplifies of procedure and formats for issuance of duplicate securities certificates

SEBI Simplifies of procedure and formats for issuance of duplicate securities certificates In order to to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) on notification no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70 dated 25th May, 2022 has released issued a circular …

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SEBI released Consultation Paper on framework related entities having listed debt securities only

Securities and Exchange Board of India (SEBI) on 20th May,2022 has released Consultation paper on introducing framework of Schemes of Arrangement for entities that have listed only debt securities/ NCRPS’, The term, ‘arrangements’ has been defined as amalgamation, merger, demerger, etc. which are different from those filed under the Insolvency and bankruptcy code inasmuch that …

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Appointment of Cost Auditor – Quick Process

Cost audit applicability provisions are contained under rule 4 of the Companies (Cost Records and Audit) Rules, 2014. Section 148 of the Companies Act, 2013 contains provisions relating to the cost records and cost audit applicability under the Companies Act. The primary goal of cost audit is to ensure that the cost relating to production …

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SECTION 455 OF COMPANIES ACT 2013 DORMANT COMPANY

SECTION 455 OF COMPANIES ACT 2013 DORMANT COMPANY:- Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property or if company is an inactive company, may make an application to the Registrar in such manner as may be prescribed for obtaining the status …

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CONSEQUENCE OF NON FILING OF ANNUAL RETURNS

All the Companies incorporated under the Companies Act 1956 or Companies Act 2013, are required to file the  annual returns i.e. AOC-4, MGT-7/MGT-7A , MGT-14 to ROC (Registrar of Companies ) and ITR to  Income tax Departments for every financial year. Timeline for filing of annual returns in every financial year:- AOC-4:- Every Company has …

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Representation to MCA for relaxation of time period w.r.t. Resubmission of forms in LLP V3 modules

MCA for relaxation of time period w.r.t. Resubmission of forms in LLP V3 modules

ICSI Representation to MCA for relaxation of time period w.r.t. Resubmission of forms in LLP V3 modules MCA: 2022 Shri Rajesh Verma, IAS Secretary Ministry of Corporate Affairs Government of India Shastri Bhawan Dr. Rajendra Prasad Road New Delhi -110001 6th May, 2022 Subject: Request for relaxation of time period w.r.t. Resubmission of forms in …

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Advisory for ensuring due diligence while incorporating a company or LLP

Dear Professional Colleague, The Ministry of Corporate Affairs vide its letter dated 11.04.2022 (copy attached) has conveyed its observations regarding due diligence and verification of documents while incorporating a Company or a LLP. Members are advised to carry out verification of documents pertaining to directors/Key Managerial Personnel. witness to Memorandum of Association Et Articles of …

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ESI Filings & Contribution due date Extended

Keeping in view the problems faced by employers, is now providing relaxation of time limit for depositing & filing ESI Contribution. Employees State Insurance Corporation (Ministry of Labour & Employment Govt. of India), Circular No. P-l l/12/Misc./l/2019(M)-Rev.II dated 13.04.2022 has decided to provide the Relaxation of time limit for depositing and filing ESI Contribution. Applicable …

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Partnership Deed Format- Word and PDF

FORMAT OF DRAFT PARTNERSHIP DEED in India This Deed of Partnership is executed on this the ………day of ………, 20……. by and amongst:- …………………….. S/o  ………………………..R/o ……………………………………..  (hereinafter referred to as party of the first part); AND ………………………… S/o  ………………………………R/o …………………… (hereinafter referred to as party of the second part). WHEREAS the parties above named …

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Guidance Note on the Companies (Auditor’s Report) Order, 2020

ICAI Issues Guidance Note on the Companies (Auditor’s Report)

Guidance Note on the Companies (Auditor’s Report) Order, 2020 The Ministry of Corporate Affairs (MCA) issued the Companies (Auditor’s Report) Order, 2020 (CARO 2020) in February 2020. CARO 2020 contains many new reporting requirements for auditors such as revaluation of property, plant and equipment (including right of use assets) or intangible assets, benami property, working …

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Strike off of Company Without Filing of Annual Returns

(1) Power of Registrar to Remove Name of Company from Register of Companies.  As per section 248 of Companies Act 2013, the registrar of Companies may remove name of company from Register of Companies if:- (a) a company has failed to commence its business within one year of its incorporation.(b) a company is not carrying …

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MSME ECLGS Scheme Further Extended till 31.03.2023

The Finance Ministry of India launched the Emergency Credit Line Guarantee Scheme (ECLGS) in May 2020 (13.05.2020_to help the pandemic hit economy. EMERGENCY CREDIT LINE GUARANTEE SCHEME (ECLGS) launched by Government of India as a special scheme in view of COVID-19 crisis to provide 100% guarantee coverage to Banks and NBFCs to enable them to …

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