MCA NEWS LETTER SUMMARY
Posted Date : 01-May-2015 , 12:16:07 pm | Posted By
Soniya
Auditor Obligations on Internal Financial Controls: A new Rule 10A has been inserted in the Companies (Audit and Auditors) Rules, 2014 in the context of Section 143(3)(i), to make it obligatory for the auditor to make a statement about existence of adequate internal financial controls system and it...
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Category : Corporate Law |
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Sction 3 of Companies Act 2013
Posted Date : 18-Apr-2015 , 05:51:02 pm | Posted By
Manshi Baid
SECTION 3 OF COMPANIES ACT 2013
READ WITH THE COMPANIES (INCORPORATION) RULES , 2014
FORMATION OF COMPANY
TYPES OF COMPANIES -------
Public Company --- At least 7 persons
Private Company --- At least 2 persons
One Person Company – Only one person with a person as Nomin...
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Category : Corporate Law |
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Management and administration under Co. Act, 2013
Posted Date : 23-Feb-2015 , 05:30:29 pm | Posted By
Vivek Parakh
Provisions related to Management and Administration – Part 4 Minutes of proceedings of general meeting, meeting of board of directors and other meeting and resolution passed by postal ballot
A separate minute book shall be maintained for each type of meeting namely:
General meeting of m...
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Category : Corporate Law |
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Management and Administration under Co. Act 2013 - Part-3
Posted Date : 21-Feb-2015 , 04:28:54 pm | Posted By
Vivek Parakh
Provisions related to Management and Administration – Part 3
Voting through electronic means
Listed Co. or Company having 1000 or more shareholders shall provide the facility to vote at general meetings by electronic means.
Procedure to be followed:
Notices of meetings shall be ...
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Category : Corporate Law |
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Management and Administration under Co. Act 2013 - Part-2
Posted Date : 13-Feb-2015 , 08:05:03 pm | Posted By
Vivek Parakh
Provisions related to Management and Administration – Part 2
Provisions: (Section 100 to 107, read with Companies (Management and Administration) Rules, 2014
Calling of Extra Ordinary General Meeting (EGM)
EGM may be called in 2 ways: a) By Board and b) On Requisition.
Board ma...
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Category : Corporate Law |
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Change Object Clause
Posted Date : 09-Feb-2015 , 12:36:13 pm | Posted By
Dhroov Rajput
Change in Object Clause
Memorandum of Association contain details of object of company and other details of company. MOA & AOA are made when a company incorporate, this MOA & AOA Contain details of company such as object’s, directors or company registered...
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Category : Corporate Law |
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ROC FORM AOC - 5 - NOTICE OF ADDRESS AT WHICH BOOKS OF ACCOUNT ARE KEPT
Posted Date : 20-Jan-2015 , 03:42:56 pm | Posted By
Soniya
MCA introduces e-Form AOC – 5 for intimating place of maintenance of books of accounts w.e.f. January 17,2015. According to Section 128 of the Companies Act, 2013 every company shall prepare and keep at its registered office books of account and other relevant books and papers and financial s...
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Category : Corporate Law |
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Amended Cost Records and Audit Rules
Posted Date : 09-Jan-2015 , 01:51:52 pm | Posted By
Vivek Parakh
Ammendment in Companies (Cost Records and Audit) Rules, 2014 Salient Features
The Companies are required to maintain Cost Records if turnover exceeds Rs. 35 crores or more during immediately preceding Financial Year in respect of the products and services specified.
The New Cost Au...
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Category : Corporate Law |
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Section 138 of The Companies Act, 2013 (Internal Audit)
Posted Date : 08-Jan-2015 , 11:07:01 am | Posted By
Anjana
Section 138: Internal Audit (Relevant Rule 13 of The Companies (Accounts) Rules, 2014)
Applicable to:
Listed Co. Unlisted public Co. having: i.Paid Up Sh. Capital >= 50 Cr. in preceding FY ii.Turnover >= 200 Cr. in preceding FY iii.O/S Loans from banks or P...
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Category : Corporate Law |
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Section 143 Powers & Duties of Auditor under Companies Act, 2013
Posted Date : 07-Jan-2015 , 03:57:50 pm | Posted By
Anjana
Section 143 Powers and Duties of auditors and auditing standards (Relevant Rule 11, 12, 13 of The Companies (Audit and Auditors) Rules, 2014)
Auditor have right to access – books of accounts and vouchers of the co. and all its subsidiaries, if any, in relation to Consolidation of F.st. - ...
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Category : Corporate Law |
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LOOPHOLE IN SEC 139(2) NEEDS TO BE PLUGGED
Posted Date : 21-Nov-2014 , 10:38:04 pm | Posted By
Hemant
LOOPHOLE IN SECTION 139 OF THE COMPANIES ACT, 2013
The legislature in their wisdom decided to plug loopholes of the erstwhile Companies Act, 1956 by inclusion of various new provisions to prevent frauds in the Companies Act, 2013 which were not a part of the erstwhile Companies Act. The noble int...
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Category : Corporate Law |
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NACAS vis-a-vis NFRA
Posted Date : 12-Nov-2014 , 09:17:59 am | Posted By
Hemant
NACAS OF COMPANIES ACT 1956 Vis-à-vis NFRA OF COMPANIES ACT 2013 (National Advisory Committee on Accounting Standard vis-à-vis National Financial Reporting Authority) As a corporate professional one should be equipped with the knowledge of the bodies set up under the company la...
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Category : Corporate Law |
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Latest News on Auditor Appointed & Correction Procedure
Posted Date : 05-Nov-2014 , 10:23:07 am | Posted By
Abhishek Kumar
Hello Professionals,
As we know there have been continuous going changes in Compliance of Co Act 2013. This time MCA has done before some days by" NOTIFYING" Form ADT-1 for Auditor’s Appointment w.e.f. 20th October 2014.
Earlier we were submitting Form GNL- 2 for Auditor&rs...
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Category : Corporate Law |
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List of resolutions to be filled in MGT-14
Posted Date : 12-Oct-2014 , 08:45:35 pm | Posted By
CA. KUMAR ASHUTOSH
*Form MGT-14 requires filing for following below mention Resolutions:*<a href="http://www.shopfifa15.co.uk/">Shop FIFA 15</a>
1. Section- 8: For a company...
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Category : Corporate Law |
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Related Party Transaction under New Regime
Posted Date : 04-Oct-2014 , 02:53:27 pm | Posted By
Ankit Mangla
Related Party Transaction under New Regime Requirement of the Companies Act, 2013
A.Following are the Related parties as per section 2(76)
i. Director / Key Managerial Personnel and their Relatives
ii. Firm in which Director or Manager or relative is a partner
iii. Private limited com...
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Category : Corporate Law |
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Companies (Appointment & Qualification of Directors) Amendment Rules, 2014
Posted Date : 23-Sep-2014 , 10:22:48 pm | Posted By
Nimisha
The Ministry of Corporate Affairs has issued a notification w.r.t. Companies (Appointment & Qualification of Directors) Amendment Rules, 2014 dated 18th September, 2014. The effect of the amendment made in Companies (Appointment & Qualification of Directors) Rules, 2014 are as follows:
&nbs...
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Category : Corporate Law |
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Article on Right issue of shares under Companies Act-2013
Posted Date : 12-Sep-2014 , 08:48:23 pm | Posted By
Csdiveshgoyal
PROCESS TO RAISE CAPITAL FOR UNLISTED COMPANIES UNDER NEW COMPANIES ACT-2013, GOYAL DIVESH & ASSOCIATES
1. PROCEDURE FOR ALLOTMENT OF RIGHT ISSUE OF SHARES:
Call a Board meeting by issue notice of meeting. (Draft Format Attached)
Approve right issue including "letter ...
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Category : Corporate Law |
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PROCESS FOR DORMANT COMPANY
Posted Date : 05-Sep-2014 , 05:41:37 pm | Posted By
CA. KUMAR ASHUTOSH
PROCESS TO GET STATUS OF DORMANT UNDER COMPANY ACT- 2013
Section-455 of Companies Act, 2013 talks about a New Provision Calls “DORMANT COMPANY”. This concept was not there in Companies Act, 2013. Another Name of this concept by Professionals is “ASSET SHIELDING CONCEP...
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Category : Corporate Law |
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E-Voting as per Companies Act 2013
Posted Date : 08-Jul-2014 , 04:35:22 am | Posted By
Kashif Ali
E-VOTING AS PER COMPANIES ACT 2013
General meetings of companies are held at their registered offices and it is not possible for every member specially a members holding minor shares to travel upto the registered office of the company and participate in the general meeting of the company. &n...
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Category : Corporate Law |
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Converting A Company Into A LLP
Posted Date : 29-May-2014 , 01:51:59 pm | Posted By
Gaurav Mittal
Converting A Company Into A LLP
YOUR KNOW HOW ON HOW TO CONVERT A COMPANY INTO A LLP
With the mammoth number of provisions, penalties, statutory compliances and various restrictions imposed on the Private Limited Companies it is now advisable to form a LLP instead of a company and to con...
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Category : Corporate Law |
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