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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Ministry of Corporate Affairs has vide Circular No. 14/2011 dated 8th April 2011 entrusted practicing professionals registered as Members of the professional bodies namely, ICAI, ICSI & ICWAI with the responsibility of ensuring integrity of documents filed by them with MCA in electronic mode. Professionals are now to be responsible for submitting /certifying documents (to be signed digitally by them) and …

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Ministry of Corporate Affairs vide Circular No. 12/2011 dated 7thApril 2011 has simplified the procedures under the Easy Exit Scheme and issued the revised procedure for EES scheme.

Ministry of Corporate Affairs (MCA) has already simplified the procedure for obtaining DIN online. MCA vide Circular No. 11/2011 dated 7thApril 2011 has taken another step towards simplification in allotment of DIN where in DIN will be allotted online on the basis of mandatory filling of  specified fields in DIN  -1. The Ministry has also clarified that the existing DIN holders who …

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Ministry of Corporate Affairs vide Circular  No. 10/2011 dated 4th April 2011 clarified that the words “partnership” wherever occurring in the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980 shall mutatis mutandis be construed as including those Limited Liability Partnerships where all the other partners are natural persons(individuals).

Ministry of Corporate Affairs vide General Circular No. 09/2011 dated  31st March, 2011 has mandated certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy. The Financial Statements required to be filed in XBRL format would be based upon the Taxonomy on XBRL developed for the existing Schedule …

Mandate to certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy Read More »

The  Ministry of Corporate Affairs vide Notification dated 26th March, 2011 have amended the rules of Companies (Central Government’s) General Rules and Forms , 1956 and the said rules are  called Companies (Central Government’s) General Rules and Forms, (Amendment), Rules 2011 amending eform 61.

The  Ministry of Corporate Affairs vide Notification dated 31stMarch, 2011 has amended the Companies (Particulars of Employees) Rules, 1975 which will be called as Companies (Particulars of Employees) Amendment Rules, 2011. As per the amendment, the remuneration limit for the applicability of these rules have been revised from Rs. 24 Lakhs per annum or Rs. 2 lakhs per month to Rs. …

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The  Ministry of Corporate Affairs vide Notification dated 6th   April 2011 have amended the Companies Regulations, 1956 with regard to  the meaning of Regional Director as a person appointed by the Central Government in the  Ministry of Corporate Affairs as Regional Director for the specified regions.

The  Ministry of Corporate Affairs vide Notification dated 6th   April 2011 have amended the Director’s Relatives (Office or Place of Profit) Rules, 2003 and the amended rules are called ‘Director’s Relatives (Office or Place of Profit) Amendment Rules, 2011’. According to the said amendment there is a revision in the remuneration limits for seeking central government approval for appointment of relatives etc. of …

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