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) …
Case Law : M/s. BADEMIYA, MUMBAI & ORS v. MUBIN AHMED ZAHURISLAM [BOM] Decided on 25.03.2011 M/s. BADEMIYA, MUMBAI & ORS, the plaintiff’s have prayed for an order and injunction restraining MUBIN AHMED ZAHURISLAM, defendant’s from using the trading name ‘BADEMIYAN’ and the trademark or the logo of ‘BADEMIYA’ in relation to defendant’s business of …
Dear All, The year 2011 has been quiet an eventful year so far, with some ecstatic and some unnerving moments. After 28 years of long wait, the Indian Cricket Team finally lifted the coveted World Cup under the able leadership of its captain and excellent team work by all the players of the team. As …
S. No. Compliance Form to be filed Relevant Law Due date 1. Payment of Service tax TR-6 Service Tax Rules, 1994 5th May 2. Excise Duty payment GAR 7 Central Excise Rules, 2002, 5th May 3. Half yearly return of contribution Form 6 Employees State Insurance Act, 1948 12th May 4. Professional Tax Monthly Return …
Listed below are the Compliances for the period 25th April to 25th May Read More »
1. No decree can create a charge on the assets of the Company unless it is registered under Section 125 of the Companies Act, 1956 Case Law : INDUSTRIAL DEVELOPMENT BANK OF INDIA v. THAPAR AGRO MILLS LTD (2011) Decided on – 17-03-2011 The Appellant advanced loan to the Company which is in liquidation against allotment …
Industrial Development Bank Of India V. Thapar Agro Mills Ltd (2011) Read More »
The latin legal terms ‘pro tempore’ and ‘Non est factum’ are discussed below: Word : Pro tempore Meaning: “for the time being”. This phrase is often used to describe a person who acts as a placeholder in the absence of a superior. Legislative bodies can have one or more pro tempore. Example: In the absence …
The latin legal terms ‘pro tempore’ and ‘Non est factum Read More »
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