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Active Company Tagging Identities And Verification(ACTIVE) For All Companies (INC-22A)

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The Ministry of Corporate Affairs has been initiating various steps to identify companies which are registered under the Companies Act but are not performing any business activities. One of those, was the  action taken by the authorities to strike-off names of lakhs of Companies from the official records for not carrying out business activities  which […]

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Analysis and disclosures on holding Beneficial Interest under Companies Act, 2013

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BENEFICIAL INTEREST I.  Background: The concept of beneficial ownership refers to having a beneficial interest in any property, goods including securities. A beneficial interest is “that right (in the form of profit, benefit or advantage) which a person has in a contract made with another (third party)”. Beneficial interest is often referred to in matters

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Daily Penalty Imposed For Delay In Annual Filing and Consequences For Non-filing

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We have sent out quiet a few mailers intimating you about the daily penalty imposed by the regulator for delay in Annual filings which will result in a huge financial burden on the company. We now want to highlight a few more practical issues faced in the process. Requirements for Annual Filings as per the

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Companies (Amendment) Ordinance, 2018 – Highlights

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The Hon’ble President has given his assent for promulgation of the Companies Amendment (Ordinance), 2018 with effect from Friday 2nd November, 2018 with a dual objective of promoting ease of doing business and better corporate compliance. The key highlights of Companies (Amendment) Ordinance, 2018 for Corporates are as summarised below. The amendments mainly aim to bring about:

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Setting Up Business in India – An Overview

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INTRODUCTION India has already marked its presence as one of the fastest growing economies of the world. It has been ranked among the top 10 attractive destinations for inbound investments. Since 1991, the regulatory environment in terms of foreign investment has been consistently eased to make it investor-friendly. India, with a young skilled workforce, high

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Maternity Benefit (Amendment) Act, 2017

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I. Introduction: The Maternity Benefit Act, 1961 regulates the employment of women in factories, mines, the circus industry, plantations and shops or establishments employing ten or more persons, for certain periods before and after child-birth and provides for maternity and other benefits. The 44th Session of Indian Labour Conference (“ILC”), had recommended for enhancing maternity

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Strike-off Or Removal Of Name Of The Company From The Register Of Companies (RoC)

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I. INTRODUCTION A company which does not intend to carry on its operations can apply for removal of its name to the Ministry of Corporate Affairs or the Registrar of Companies can remove or strike off a Company name, if it has reasonable cause to believe so. Striking off of the company’s name by the

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