Introduction: Section 185 of the Companies Act, 2013 which has been notified on 12th September 2013 has replaced the old section 295 of the Companies Act, 1956 which provides for loans to directors. Section 185 now applies to all companies including private companies. Earlier private companies were exempted from the provisions of the old section …
Loans to Directors under Section 185 of Companies Act, 2013 Read More »
Background : DLF Limited (hereinafter referred to as “DLF”) came out with an Initial Public Offer (“IPO”) in the year 2007 for issuance of 17,50,00,000 equity shares of Rs. 2 each at a price of Rs.525 per equity share aggregating to Rs.9187.5 crore. Order issued on 10th October, 2014. Facts of the case : With …
SEBI’s bars property giant DLF from Capital Markets Read More »
S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th November, 2014 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th November, 2014 3 Half Yearly Return for the period of 01-04-2014 to 30-09-2014 ST-3 Service Tax Rules, 1994 …
Labour Law & Other Compliance’s for the month of November, 2014 Read More »
Dear Friends! The month of October made every Company Secretary face the biggest challenge of completing the Annual Filings of the Companies within the due date. While the government did give some “ sigh of relief” to companies by passing an amendment on matters relating to Consolidated Financial Statement (CFS) which states that a company …
Dear All, “A man’s greatest friend is anything which develops his patience”– Arun Jaitley Every CS professional’s best friend SHALL be MCA. Some friends just cannot be avoided. “kya har ek friend zaroori hota hain”? October is one of the busiest months in every Company Secretaries life and the final day of this rigorous yet …
Introduction:- A rights issue is a direct offer of shares to all the existing shareholders of the Company in proportion to their current holding. The company also sets a time limit for the shareholder to buy the shares. Companies pursue Rights Issue as an avenue to raise funds for various reasons, ranging from expansion or …
1. Company Law Settlement Scheme, 2014 (CLSS-2014) – Clarification u/s 164(2) of the Companies Act, 2013 MCA has vide its Circular no.41/2014 dated 15th October, 2014 clarified that in case of companies, who have filed their balance sheet and annual returns on or after 01/04/2014 but prior to launch of CLSS-2014 , disqualification under Section …
1. Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses RBI has vide circular RBI/2014-15/257 A.P. (DIR Series) Circular No.35 dated 9th October, 2014 decided to permit remittances to the Prime Minister’s National Relief Fund through the Exchange Houses subject to the condition that the remittances …
1. Clarification on Government Debt Investment Limits SEBI has issued a circular CIR/IMD/FIIC/19/2014 dated 9th October, 2014 which clarifies that all investments by Long Term FPIs (Sovereign Wealth Funds (SWFs), Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks) in the USD 5 billion Government debt limit shall continue to be made …
Companies(Acceptance of Deposits)Rules, 1975 Companies(Acceptance of Deposits)Rules, 2014 Changes in the New Act. Definition: (Rule 2 (b) ) Deposit means any deposit of money with, and includes any amount borrowed by, a company Definition: (Sec 2(31) of Companies Act, 2013 read with Rule 2(1)(c)) Deposit includes any receipt of money by way of deposit or …
Comparison of Definition of Deposit under Companies Act, 1956 & Companies Act, 2013 Read More »
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