I. Introduction: Nidhi Company is a company incorporated as such with an objective of: Cultivating the habit of thrift; Saving amongst its members; Receiving deposits from its members; and Lending money to it members. II. Procedure to setup a Nidhi Company: Rule 4 of NIDHI Rules 2014 provides that: A Nidhi Company should be incorporated …
SPICe – Simplified Proforma for Incorporating Company Electronically Ministry of Corporate Affairs (MCA) has recently introduced SPICe Form INC-32 which is a Simplified Proforma for Incorporating Company Electronically through Companies (Incorporation) Fourth Amendment Rules, 2016. SPICe or Form INC-32 can help incorporate a company with a single application for: reservation of name incorporation of a …
SPICe–INC-32 Simple Form for Incorporating Company Read More »
What is GST? How does it work? GST is one of the biggest Indirect Tax Reforms in India. GST is a simpler, efficient and effective tax system in the country, which subsumes the total indirect tax structure into one single payable tax. GST is one indirect tax for the whole nation, which will make India …
Since the provisions of National Company Law Tribunal (NCLT) have been notified with effect from 1st June, 2016, the term “Class Action Suits” has become the buzz word. I. MEANING: In a class action suit, a large group of people, having same or similar interests, collectively bring a claim to court, represented by one or …
A. Introduction: The MCA has issued the Companies (Acceptance of Deposits) Amendment Rules, 2016 on June 29, 2016, amending and expanding the list of exempted Deposits under the Companies (Acceptance of Deposit) Rules, 2014. These amendments shall come into force on the date of their publication in the Official Gazette. These rules are summarised below …
Amendments made to the Companies (Acceptance of Deposit) Rules, 2014 Read More »
I. INVESTIGATION INTO AFFAIRS OF COMPANY (SECTION 210): Where the Central Government is of the opinion, that it is necessary to investigate into the affairs of a company,— on the receipt of a report of the Registrar or inspector; on intimation of a special resolution passed by a company that the affairs of the company …
Shareholders are real owners of the organization but they are sometimes ill-equipped to exercise effective control over the Company. It leads to abuse of power by persons in control. Therefore, Central Government took cognizance of the matter while drafting Companies Act, 2013 and assumed powers by enacting new provisions relating to inspection and inquiry which …
I. Introduction: As part of efforts to address difficulties faced by stakeholders and facilitate the ease of doing business in the country, The Companies (Amendment) Bill, 2016 to further amend the Companies Act, 2013 has been introduced in Lok Sabha on 16th March, 2016 by Hon’ble Minister of Finance, Corporate Affairs and Information and Broadcasting …
I. Introduction: Investor Education and Protection Fund (IEPF) is for promotion of investors’ awareness and protection of the interests of investors. The provisions of sub Section (5) (6) & (7) of section 125 of the Companies Act, 2013 are effective from 13th of January, 2016 vide MCA Notification issued by Central Government. II. Procedure for transfer …
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Introduction: The Central Government vide MCA Notification dated 22nd January, 2016 made the following amendments to the Companies (Incorporation) Rules, 2014. These Rules are called Companies (Incorporation) Amendment Rules, 2016 (herein after referred as ‘Amendment Rules’) which are effective from 26th January, 2016. (I) Amendment Undesirable Names: In the Companies (Incorporation) Rules, 20l4 (herein after …
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