The phrase ‘voting by electronic means’ is defined in the Companies (Management & Administration) Rules, 2014 as substituted by the Companies (Management and Administration) Amendment Rules, 2015 and the SS – 2 as to includes ‘remote e-voting’ and voting at the general meeting through an electronic voting system which may be the same as used …
E-voting Provisions Under Secretarial Standards-2 Read More »
1. Exclusively listed companies of De-recognized/Non operational/exited Stock Exchanges. SEBI has issued a circular CIR/MRD/DSA/05/2015 dated 17th April, 2015 wherein it has clarified that the exclusively listed companies which fail to obtain listing in any other nationwide stock exchange will cease to be a listed company and will be moved to the dissemination board by …
1. Interest Rates on Deposits RBI has vide its circular RBI/2014-15/554 DBR.No.Dir.BC.87/13.03.00/2014-15 dated 16th April, 2015 stated that banks are allowed to offer differential rates of interest on term deposits on the basis of tenor for deposits less than Rs.1 crore and on the basis of quantum and tenor on term deposits of Rs. 1 …
1. The Companies ( Incorporation) Amendment Rules, 2015 MCA has vide its Notification dated 1st May, 2015 made amendments to Companies Incorporation Rules wherein the process of incorporation of company has been integrated. The application for allotment of DIN upto 3 directors, reservation of name, incorporation of company and appointment of directors of the proposed company …
What are “Related Party Transactions”? Provision on Related party transactions are as mentioned below: Section -188 of Companies Act, 2013 Section -297 & 314 of Companies Act, 1956 Now, let’s compare; Sl. No. Nature of Difference Companies Act, 2013 Companies Act, 1956 1. Approval from Board sale, purchase or supply of any goods or materials; …
Related Party Transactions under Old Act & New Act Read More »
Introduction: Section 134 of the Companies Act, 2013 casts a responsibility on the Board of Directors to prepare a report containing details as discussed below and this report needs to be annexed to the Financial Statements which are laid before the members in the annual general meeting. Companies Act, 2013 also contains provisions regarding revision …
Boards’ Report under Companies Act, 2013-Check List Read More »
Word: Animus nocendi Origin: Latin Meaning: Intention to harm Example: The subjective state of mind of the author of a crime, with reference to the exact knowledge of illegal content of his behavior, and of its possible consequences. Word: In forma pauperis Origin: Latin Meaning: In the manner of a pauper Example: Someone unable …
Background: The Telangana Assembly unanimously passed its own industrial Act–Telangana State Industrial Project Approval and Self Certification System (TS-iPASS) Act, 2014 repealing the existing Andhra Pradesh State Industrial Single Window Clearance Act of 2002, with the objective of providing timely clearances to industrial units proposed to be set up in the new State. Purpose: To …
Company Law Board (CLB), Mumbai Bench, rejected rectification of Register of Members pursuant to Section 111(4) & 111 A of the Companies Act, 1956 (now Section 58 & 59 of the Companies Act, 2013). (Re: M/s Badve Engineering Limited in CP No 19 of 2013) Background: The Board of Directors of M/s Badve Engineering Limited …
Wrong filing of Form 2 (now PAS 3) cannot be treated as mere clerical mistake Read More »
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 …
Don’t miss our future updates! Get Subscribed Today!