Month: February 2020

Background: Companies (Auditor’s Report) Order, 2020 [“CARO, 2020”] has been notified by the Ministry of Corporate Affairs (MCA) vide its order dated 25th February 2020, in exercise of the powers conferred in sub-section 11 of Section 143 of Companies Act,2013 and after consultation with the National Financial Reporting Authority (NFRA),. Companies (Auditor’s Report) Order, 2020 (CARO, 2020) …

Companies (Auditor’s Report) Order,2020 [CARO,2020] – Summary Read More »

A.        Background: In exercise of the powers conferred in the Section 203 of the Companies Act,2013 read with section 469 of the said Act, Ministry of Corporate Affairs vide its notification dated 3rd January 2020 [“Notification”] has amended the Rule 8A and Rule 9 Companies (Appointment and Remuneration of Managerial Personnel) Amendment …

Changes in rules relating to the appointment of Company Secretary and applicability of Secretarial Audit Read More »

Background: A Director is responsible for controlling, managing and directing the affairs of a Company and faces the risk of disqualification, if he/she fails to fulfill the legal responsibility prescribed under Companies Act, 2013 (Act). A detailed note on Director disqualification, consequences and process of removal of disqualification is mentioned below. Director Disqualification as per …

Director Disqualification, Consequences and process of Removal of Disqualification Read More »

Background:  Section 232(6) of Companies Act, 2013 specifies that the scheme under this section shall clearly indicate an appointed date from which it shall be effective and the scheme shall be deemed to be effective from such date and not at a date subsequent to the appointed date. The language of Section 232(6) of Companies …

Significance of appointed date in case of Merger and Amalgamation of Companies in light of the recent circular issued by MCA Read More »