Meaning : Non compos mentis is a term meaning ‘not of sound mind’. Non compos mentis is derived from the Latin words – • non meaning “not”, • compos meaning “having (command of)”, and • mentis meaning “mind”. It is the direct opposite of Compos mentis which means “of a composed mind”. Example: Contracts entered …
The MCA had as per its circular bearing No. 14/2011 dated 8th April, 2011 entrusted practicing professionals registered as Members of the professional bodies namely, ICAI, ICSI & ICWAI with the responsibility of ensuring integrity of documents filed by them with MCA in electronic mode and the system would accept these documents online without the …
Certification of e-Forms under the Companies Act, 1956 by Practicing Professionals Read More »
Green Initiative in the Corporate Governance-Issue of Certificate by Digital Signature: The Ministry of Corporate Affairs vide its General Circular No. 29/2011 dated 20.05.2011 has taken another step towards “Green Initiative” and decided that all certificates and standard letters issued by the Registrar of Companies will now be issued electronically under the Digital Signature of …
Meaning: Bona vacantia is derived from a Latin word which basically means “ownerless goods”. It is a legal concept associated with property which does not have an owner. Bona Vacantia is partly a common law doctrine and partly found in statute. It governs property of deceased persons with no known heirs, the property of defunct …
Section 108A to 108I of the Companies Act, 1956 were inserted through Monopolies and Restrictive Trade Practices (Amendment) Act, 1991. As the MRTP Act, 1969 stands repealed the provisions of Section 108A to 108I of the Companies Act, 1956 have become redundant and will have no legal force This was notified by MCA as per …
The MCA received representation from ICAI stating that under Section 226(30(a) of the Companies Act, 1956, a body corporate is disqualified from appointment as auditor of the company. Since LLP is a body corporate under section 3(1) of the LLP Act, 2008, LLP among other chartered accountants will not be qualified for appointment as auditor …
Electronic mode : The MCA has in partial modification of its circular dated 9th March, 2011 regarding acceptance of payment of value above Rs. 50,000/- for MCA services, only in electronic mode w.e.f 27th March, 2011 has in the following case allowed challan mode of payment for amount less than Rs. 50,000/-: Payment to ‘Investor …
Case Law : Scheme of Arrangement between: M/s. Vodafone Essar Limited, Non-petitioner/Transferor [Company No.1], M/s. Vodafone Essar Mobile Services Limited, petitioner/Transferor [Company No. 2], M/s. Vodafone Essar East Limited, Non-petitioner/Transferor [Company No. 3], M/s. Vodafone Essar Gujarat Limited, Non-petitioner/Transferor [Company No. 4], M/s. Vodafone Essar South Limited, petitioner/Transferor [Company No. 5], M/s. Vodafone Essar Digilink …
Case Law : SOUTH ASIAN PETROCHEM LIMITED & ORS v.THE REGISTRAR OF COMPANIES [CAL] Decided on – 05.04.2011 After inspection of books of accounts by the Registrar of Companies, notices were issued to the Respondent alleging that the Company had violated several provisions of the Act along with disclosures to be made in Balance-sheet, Profit …
BHUSHAN ENERGY LTD & ORS v. SECURITIES AND EXCHANGE BOARD OF INDIA & ANR [SAT] Decided on 28.12.2010 The Appellant (Bhushan Group) & Respondent No.2 (who are persons acting in concert of Bhushan Group) are holding 14.85% & 2.56% Equity Shares respectively is a listed company namely Orissa Sponge Iron & Steel Ltd (Target Company) …
Don’t miss our future updates! Get Subscribed Today!