Section 108A to 108I of the Companies Act, 1956 were inserted through Monopolies and Restrictive Trade Practices (Amendment) Act, 1991. As the MRTP Act, 1969 stands repealed the provisions of Section 108A to 108I of the Companies Act, 1956 have become redundant and will have no legal force This was notified by MCA as per …
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 …
Companies have been seeking clarification from MCA about the exemption granted under Section 212 (8) of the Companies Act, 1956, vide its Circular No. 02/2011 dated 08th February, 2011. The MCA has vide Circular No. 22/2011 dated 2nd May, 2011 clarified that all the Companies whether listed or unlisted, have to fulfill all the Conditions mentioned in the Circular for availing the …
Clarification in respect of Circular No. 02/2011 Read More »
Another Circular on the path of Green Initiative. MCA has clarified vide circular No. 21/2011 dated 2nd May, 2011 that only a duly approved agency will have to be appointed for providing and supervising electronic platform for electronic voting for postal ballot. Accordingly, The National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited are being approved …
Form 32 for intimating ROC regarding the particulars of appointment of Directors, etc and changes therein in pursuant to Section 303 (2) of the Companies Act, 1956, will now be processed under Straight Through Process (STP) mode and the practicing professionals like CS, CA and CWA have to certify the correctness of the form. The details are available in the …
E-Form 32 for intimating ROC regarding the particulars of appointment of Directors, etc Read More »
In the present system there is a facility with the ROC, to mark the Companies having management dispute on the basis of complaints received. As a result of this marking, all the forms filed for such company are not approved and put under work-in progress, until it is demarked by the ROC. In order to bring uniformity of practices …
Ministry of Corporate Affairs has vide Circular No. 17/2011 dated 21st April 2011 taken a ‘Green initiative in the Corporate Governance’ by allowing paperless compliances by the companies after considering Section 2, 4, 5 and 81 of the Information and Technology Act, 2000 for legal validity of compliances under Companies Act through electronic mode. It has been clarified that if the …
The Ministry of Corporate Affairs has vide circular No. 16/2011 dated 20th April, 2011 issued detailed guidelines simplifying the procedures to be adopted for the amalgamation of Government Companies under section 396 of the Companies Act, 1956
The Ministry of Corporate Affairs has reviewed the existing procedures followed by the Companies for seeking prior approval of the Central Government for appointment of cost auditor under Section 233 B (2) of the Companies Act, 1956 and on that basis revised the said procedure to be followed by the Companies. The modified procedure shall be effective from the financial …
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