Govt clearance must for Chinese nationals' appointment as directors in Indian companies
Posted Date : 04-Jun-2022 , 09:03:51 am | Posted By CASANSAAR
In a bid to prevent Chinese companies from circumventing Indian laws to do business in the country, the government has come up with a notification that requires land border-sharing nations' citizens who are appointed as directors on boards of companies to obtain a security ...
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Companies Act |
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Lok Sabha passes bill to amend companies law
Posted Date : 20-Sep-2020 , 10:43:35 am | Posted By CASANSAAR
Lok Sabha on Saturday passed a bill to further amend the Companies Act and decriminalise various compoundable offences as well as promote ease of doing business in the country.
The Companies (Amendment) Bill, 2020 seeks to decriminalise various penal provisions, permit direct overseas listing of ...
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Companies Act |
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0 | Hits : 450
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Violation of provisions of Company Law by the Companies
Posted Date : 16-Sep-2020 , 08:52:50 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has information of the companies which have violated the provisions of Company Law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha today.
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Companies Act |
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0 | Hits : 443
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Invitation for Public Comments on Draft Valuers Bill, 2020
Posted Date : 25-Apr-2020 , 09:40:02 am | Posted By CASANSAAR
Government of India
Ministry of Corporate Affairs
(PI Section)
Invitation for Public Comments on Draft Valuers Bill, 2020
Ministry of Corporate Affairs had constituted a...
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Category :
Companies Act |
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0 | Hits : 533
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CBI arrests 3 company directors in Rs 2654 Cr bank fraud case
Posted Date : 06-Feb-2020 , 12:33:35 pm | Posted By CASANSAAR
(Source - IANS,Business Standard)
...
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Category :
Companies Act |
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0 | Hits : 616
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SC Issues non-bailable warrants against MD of 32 Companies for Ignoring Order
Posted Date : 22-Oct-2019 , 10:14:44 am | Posted By CASANSAAR
The Supreme Court has issued non-bailable warrants against managing directors of 32 companies for not complying with its order.
The managing directors now face imminent arrest and will have to be produced in the top court by the Mumbai Police if they fail to get preventive orders.
The li...
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Category :
Companies Act |
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0 | Hits : 1328
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Govt to decriminalise 2/3rds of offences under Companies Act
Posted Date : 14-Oct-2019 , 09:00:49 am | Posted By CASANSAAR
The government is set to decriminalise two-thirds of the Companies Act as it looks to do away with jail term in over 40 sections out of the 66 where compounding is permitted.
Besides, the ministry of corporate affairs, which is pushing the change, is also seeking to lower the penalty for small co...
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Category :
Companies Act |
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0 | Hits : 493
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Demonstration of DIR 3 KYC under Companies Act
Posted Date : 11-Oct-2019 , 10:11:09 am | Posted By CASANSAAR
Demonstration of DIR 3 KYC under Companies Act
(Demonstration of DIR 3 KYC by CS Reema Jain with CA Vivek Khurana)
https://youtu.be/O-r28314jjQ
Don't forget to SUBSCRIBE CA Sansaar YouTube Channel
...
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Category :
Companies Act |
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0 | Hits : 410
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Pvt Companies with debts may soon have to undergo mandatory Secretarial Audit
Posted Date : 07-Oct-2019 , 07:57:34 am | Posted By CASANSAAR
The government may soon mandate private companies with outstanding debts above a certain threshold undergo a mandatory secretarial audit, a senior government official said Saturday.
“Mandatory secretarial audit is right now restricted to listed companies, but I think it may have to get exte...
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Category :
Companies Act |
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0 | Hits : 1798
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Govt constitutes Company Law Committee for examining and making recommendations on various provisions and issues
Posted Date : 19-Sep-2019 , 09:24:06 am | Posted By CASANSAAR
In line with the Government’s objective of promoting Ease of Living in the country by providing Ease of Doing Business to law abiding corporates, fostering improved corporate compliance for stakeholders at large and also to address emerging issues having impact on the working of corporates in ...
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Category :
Companies Act |
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0 | Hits : 503
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NCLT allows MCA plea to implead 22 more parties in IL&FS case
Posted Date : 22-Jul-2019 , 08:54:37 am | Posted By CASANSAAR
The Mumbai bench of the National Company Law Tribunal (NCLT) has allowed the petition of the Ministry of Corporate Affairs (MCA) to implead 22 more parties as accused in the alleged financial misappropriation in the debt-laden Infrastructure Leasing & Financial Services (IL&FS). This brings ...
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Category :
Companies Act |
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0 | Hits : 321
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Cabinet clears bill to amend Companies Law
Posted Date : 18-Jul-2019 , 09:41:10 am | Posted By CASANSAAR
The government Wednesday approved 43 amendments to the companies law as it seeks to further strengthen the regulatory framework and ensure stricter action for violations.
From de-clogging of the National Company Law Tribunal (NCLT) to bolstering corporate governance standards and tweaking provisi...
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Companies Act |
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0 | Hits : 661
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Cabinet approves Promulgation of the Companies (Second Amendment) Ordinance 2019
Posted Date : 19-Feb-2019 , 10:42:48 pm | Posted By CASANSAAR
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Promulgation of the Companies (Second Amendment) Ordinance 2019 and for replacement of the said Ordinance in Parliament by a replacement Bill. It is based on the recommendations of the Committee to review offen...
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Companies Act |
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0 | Hits : 306
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Govt re-promulgates ordinance to amend Companies Law
Posted Date : 14-Jan-2019 , 07:23:33 am | Posted By CASANSAAR
The government has re-promulgated an ordinance to amend the companies law to further improve the ease of doing business as well as ensure better compliance levels. Since the Bill to make amendments to the Companies Act, 2013, is pending in the Rajya Sabha, the ordinance has been re-promulgated.
T...
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Category :
Companies Act |
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0 | Hits : 467
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Lok Sabha passes Companies (Amendment) Bill
Posted Date : 05-Jan-2019 , 09:31:43 am | Posted By CASANSAAR
Lok Sabha on Friday passed the Companies( Amendment) Bill, 2018 that seeks to improve ease of doing business, declog the NCLT and prescribe strong action against non-compliant companies.
The bill was passed with a voice vote with amendments moved by the Minister of State for Corporate Affai...
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Category :
Companies Act |
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0 | Hits : 753
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Over 1 lakh companies deregistered this fiscal - Govt
Posted Date : 28-Dec-2018 , 04:28:57 pm | Posted By CASANSAAR
Names of more than 1 lakh companies have been struck off the official records in the current fiscal for not carrying business activities for a long time, the government said Friday.
As part of clamping down on illicit fund flows, the Corporate Affairs Ministry has been taking action against entit...
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Category :
Companies Act |
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0 | Hits : 748
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Govt plans to amend norms pertaining to incorporation of Companies
Posted Date : 18-Dec-2018 , 09:05:49 am | Posted By CASANSAAR
The Corporate Affairs Ministry plans to amend the rules for incorporation of companies as part of efforts to provide more clarity on norms related to availability of names.
The ministry, which is implementing the Companies Act, has sought comments from the public on the proposed changes to ...
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Category :
Companies Act |
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0 | Hits : 633
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Over 18.10 lakh registered companies, only 62% active at end of October
Posted Date : 04-Dec-2018 , 09:45:27 am | Posted By CASANSAAR
The country has more than 18 lakh registered companies but only 62 per cent of them were actively functioning at the end of October, according to official data.
The majority of active companies were engaged in business services.
With more than 6.46 lakh companies shuttered and many others unde...
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Category :
Companies Act |
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0 | Hits : 367
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Promoters of 73,000 companies may face action
Posted Date : 26-Oct-2018 , 09:40:50 am | Posted By CASANSAAR
The government is likely to take action against the promoters of 73,000 companies in which it has detected fraudulent transactions after the demonetisation drive in 2016.
“We have identified 73,000 companies in which Rs 24,000 crore was deposited after demonetisation. The investigatio...
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Category :
Companies Act |
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0 | Hits : 820
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Govt mulls stricter disclosure norms for independent directors
Posted Date : 30-Sep-2018 , 10:35:57 pm | Posted By CASANSAAR
The government plans to put in place a stricter disclosure framework for independent directors, including providing details about their resignation from companies, as part of continuing efforts to bolster corporate governance standards. Corporate Affairs Secretary Injeti Srinivas said the disclosure...
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Companies Act |
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0 | Hits : 350
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21 Lakh directors may get another chance to adhere to KYC rules
Posted Date : 17-Sep-2018 , 11:32:25 pm | Posted By CASANSAAR
The government is considering giving another opportunity to 2.1 million company directors who have failed to comply with the ‘know your customer’ (KYC) norms, according to a senior official.
The government could give another 15 days for meeting the compliance norms or ...
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Category :
Companies Act |
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0 | Hits : 2470
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21 lakh company directors fail to register for eligibility
Posted Date : 16-Sep-2018 , 10:04:53 am | Posted By CASANSAAR
Less than 12 lakh individuals, or just over 35% of the 33 lakh “active directors” have complied with the newly-mandated know-your customer or KYC requirement to be eligible for board positions in companies.
The deadline ended on Saturday midnight and the ministry of corporate affairs ...
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Category :
Companies Act |
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0 | Hits : 917
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NCLT rejects Cyrus Mistry’s plea against Tata Sons
Posted Date : 09-Jul-2018 , 09:39:24 pm | Posted By CASANSAAR
The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday dismissed the petition filed by Cyrus Mistry’s investment firms against Tata Sons, its chairman emeritus Ratan Tata and others. Mumbai NCLT’s division bench—presided by B.S.V. Prakash Kumar and V. Nallasenapathy...
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Companies Act |
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0 | Hits : 421
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Mandatory Annual KYC of all Directors of all companies by 31.08.2018
Posted Date : 29-Jun-2018 , 09:07:44 am | Posted By CASANSAAR
As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly.
Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved&...
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Category :
Companies Act |
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0 | Hits : 1268
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2.25 lakh shell companies under scrutiny of corporate affairs ministry
Posted Date : 29-May-2018 , 06:58:01 am | Posted By CASANSAAR
A total of 2.25 lakh companies are under the scanner of the Ministry of Corporate Affairs for not making requisite filings for 2015-16 and 2016-17, and the ministry may crack down upon them to identify “shell companies”, The Times of India reported.
Sources told TOI that the registrar...
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Companies Act |
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0 | Hits : 774
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Additional fees on annual filing of documents at MCA @ Rs.100 per day wef 1st July 2018
Posted Date : 08-May-2018 , 04:41:51 pm | Posted By CASANSAAR
The Companies (Registration Offices and Fees) Second Amendment Rules 2018 has been notified on 7th May 2018. Accordingly, in case the due date of filings under Section 92 (Annual Return) or 137 (Annual Financial Statement) of the Companies Act, 2013 expires after 30/06/2018, the additional fee @Rs.1...
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Companies Act |
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0 | Hits : 981
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Parliamentary panel asks govt to define 'Shell Companies' in Companies Act
Posted Date : 11-Mar-2018 , 09:54:23 pm | Posted By CASANSAAR
A Parliamentary panel has asked the government to define "shell company" in the Companies Act and ensure distinction between those guilty of fraud and those irregular with filings.
The recommendation assumes significance at a time when the government is cracking down on companies that h...
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Companies Act |
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0 | Hits : 643
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5,572 investors’ awareness programmes conducted in 2017-18 till Dec 2017
Posted Date : 07-Feb-2018 , 08:21:32 am | Posted By CASANSAAR
Investors Awareness Programmes (IAPs) have been organised by Investor Education and Protection Fund (IEPF) in association with Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), Institute of Cost Accountants of India (ICoAI) and CSC e-gove...
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Category :
Companies Act |
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0 | Hits : 337
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Shell Companies’ directors under the scanner for wiring illegal funds
Posted Date : 18-Jan-2018 , 09:28:16 am | Posted By CASANSAAR
After a crackdown against more than 2.5 lakh defaulting companies since demonetisation, the Serious Fraud Investigation Office (SFIO) has begun probe into the role of directors, who were on the board of multiple mailbox entities that were allegedly used to wire illegal fund transfers.
SFIO, which...
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Category :
Companies Act |
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0 | Hits : 909
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Govt to deregister 1.20 lakh more Shell Companies
Posted Date : 17-Jan-2018 , 08:22:49 am | Posted By CASANSAAR
The Government on Tuesday said it has decided to strike off the names of 1.20 lakh more companies from the official records for various non-compliances as part of its continuing crackdown on “shell companies” to tackle the black money menace.
Nearly 2.26 lakh companies have already be...
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Category :
Companies Act |
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0 | Hits : 1087
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