Author name: ithelp

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 »

Brief on Independent Directors (IDs) Databank The Ministry of Corporate Affairs (MCA) has notified Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2019 dated 01st December 2019 which mandates all the existing and aspiring Independent Directors to register themselves in the databank. Ministry of Corporate Affairs (MCA) in association with Indian Institute …

Independent Directors Data Bank Read More »

Merger is a legal consolidation of two entities into one as a result of which the ownership, risk, assets, liabilities and functions are also consolidated. The term Merger is not defined in any Act. A merger usually takes place when a smaller company folds into a larger one through exchange of shares or cash. But …

Reverse Merger Read More »

NEW ERA OF COMPLIANCE MONITORING MCA STARTED USING ARTIFICIAL INTELLIGENCE (AI) TO MONITOR COMPLIANCE UNDER THE COMPANIES ACT, 2013/1956. The AI driven mechanism called MCA Compliance Monitoring System (MCA-CMS) is now functional.  Introduction The present Indian Government is highly determined to improve India’s ranking in the world bank list of ease of doing business. In …

E-Show cause Notice by MCA Read More »

Introduction: Small Companies are basically the companies with limited amount of investment and having the privilege of special status under the Companies Act, 2013. The concept of “small company” has been introduced for the first time by the Companies Act, 2013. The Act identifies some companies as small companies based on their capital and turnover …

“Small Companies” Under Companies Act, 2013 Read More »

The Ministry of Corporate Affairs (MCA) recently introduced the concept of Active Company Tagging Identities and Verification (ACTIVE) which required filing of new e-Form INC- 22A effective from February 25, 2019. Companies which complied with the requirement were tagged as ACTIVE and Compliant while the Companies which did not comply with the requirement were tagged …

Cessation Of Director In Case Of In-Active Companies Read More »