Resolutions and Agreements to be filed with ROC - Companies Act 2013
Posted Date : 26-May-2014 , 04:03:48 pm | Posted By
CA GOURAV MURARKA
Dear Friends,
The Companies Act 1956 required certain resolutions and agreements to be registered with ROC in e-form 23 within 30 days from the date of passing or entering into it. Section 192 was the relevant section under the Companies Act 1956, which required the following resoluti...
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Category : Corporate Law |
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Penalties on Auditors under New Companies Act 2013 (Section 147)
Posted Date : 20-Apr-2014 , 09:24:47 am | Posted By
Vimmi
If the auditor has contravened any of his duties, he shall be punishable as below:
• required to refund the remuneration
• pay damages to the company, statutory bodies/authorities or any other person for losses arising as a result of incorrect or misleading statements in his au...
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Category : Corporate Law |
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Companies Act: Roaring time for small investors
Posted Date : 15-Apr-2014 , 08:15:43 am | Posted By
May I Help You.
Can a corporate fraud, such as the one unearthed at Satyam Computer Services, have a positive outcome for investors? The answer is yes. The scam’s magnitude and the delay in detecting it had the regulators sit up and take notice.
The new Companies Act 2013, which has taken effect from Apr...
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Category : Corporate Law |
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Companies Acceptance of Deposit Rules
Posted Date : 04-Apr-2014 , 09:46:53 am | Posted By
Namrata
Companies Acceptance of Deposit (Section 73 to Section 76 of the companies Act 2013)
283 sections of the Companies Act 2013 have been made effective now. Private Companies have also been brought under the purview of the compliances of Companies Act 2013. Earlier private companies were allowed to ...
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Category : Corporate Law |
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New Forms on MCA
Posted Date : 03-Apr-2014 , 11:40:26 am | Posted By
CA GOURAV MURARKA
39 new forms from 14/04/2014 plz read the same
First new form name is given then its purpose is mentioned and corresponding old forms details which we use to file
1. INC-1 Application for reservation of name – old form 1A
2. &...
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Category : Corporate Law |
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Independent Directors- Under the Companies Act, 2013
Posted Date : 25-Feb-2014 , 08:58:53 am | Posted By
Vimmi
In India, the gravity of Independent Directors (referred as “ID’s”) was recognized with the introduction of corporate governance. The Companies Act, 1956 (referred as “the Act, 1956”) do not directly talks about ID’s, as no such provision exists regarding the comp...
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Category : Corporate Law |
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INFORMATION AND STATISTICS (Companies Act, 2013)
Posted Date : 24-Jan-2014 , 01:03:18 pm | Posted By
Dulichand Kushwaha
POWER OF CENTRAL GOVERNMENT TO DIRECT COMPANIES TO FURNISH INFORMATION OR STATISTICS (SECTION 405):
The Central Government may by order companies generally or any company or class of company to furnish any information or statistic with regard to constitution or working of the company within...
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Category : Corporate Law |
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NIDHI COMPANIES (Companies Act, 2013)
Posted Date : 24-Jan-2014 , 12:57:40 pm | Posted By
Dulichand Kushwaha
Section 406 deals with Nidhi companies.
“Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and whi...
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Category : Corporate Law |
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SPECIAL COURTS AND MEDIATION & CONCILIATION PENAL (Companies Act, 2013)
Posted Date : 24-Jan-2014 , 12:37:50 pm | Posted By
Dulichand Kushwaha
ESTABLISH OF SPECIAL COURT (SECTION 435):
The Central Government may for the purpose of providing speedy trial of offences under this Act, by notification establish or designate Special Courts.
A Special Court shall consist of a single judge appointed by the Central Government. The...
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Category : Corporate Law |
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REGISTRATION OFFICES AND FEES (Companies Act, 2013)
Posted Date : 21-Jan-2014 , 12:15:48 pm | Posted By
Dulichand Kushwaha
REGISTRATION OFFICES (SECTION 396):
For exercising powers and discharging functions conferred on the Central Government under this Act, the Central Government shall by notification establish such number of offices at such places as it thinks fit, specifying their jurisdiction.
The ...
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Category : Corporate Law |
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Five key points about India
Posted Date : 17-Jan-2014 , 08:37:41 am | Posted By
Surendra Kumar Dash
The five key points that all companies must know if they have business interests in India are as follows
1. What is the 2 per cent requirement?
The act requires that companies set up a CSR board committee, which must consist of at least three directors, one of whom must...
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Category : Corporate Law |
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REGISTERED VALUERS AND VALUATION (Companies Act, 2013)
Posted Date : 16-Jan-2014 , 03:25:27 pm | Posted By
Dulichand Kushwaha
REGISTERED VALUERS (SECTION 247):
Where a valuation is required to be made in respect of any property, stocks, shares, debentures, securities, goodwill, or any other assets or any liability or net worth of a company, it shall be valued by a Registered Valuer and appointed by the Audit committee o...
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Category : Corporate Law |
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CONSTITUTION OF NATIONAL COMPANY LAW TRIBUNAL (Companies Act, 2013)
Posted Date : 16-Jan-2014 , 03:19:16 pm | Posted By
Dulichand Kushwaha
DEFINITIONS (SECTION 407):
These definitions are self explanatory. There are two classes of members to the National Company Law Tribunal; Judicial Members and Technical Members. The Tribunal shall be headed by the President while the Appellate Tribunal by Chairperson.
CONSTITUTION OF...
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Category : Corporate Law |
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ONE PERSON COMPANY
Posted Date : 15-Jan-2014 , 12:42:22 pm | Posted By
MOHIT KUMAR
Background of this concept :-
First of all In 2004 Govt. constituted Expert Committee under the chairmanship of Dr. JJ Irani for the recommendation on company Law matters .One of recommendation was recognition of OPC in our New Company Law Bill . That Committee had considered various ...
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Category : Corporate Law |
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LOAN TO DIRECTORS (AS PER COMPANIES ACT 2013)
Posted Date : 13-Jan-2014 , 02:14:56 pm | Posted By
Surendra Kumar Dash
LOAN TO DIRECTORS (AS PER COMPANIES ACT 2013)
Section 185 of the Companies Act, 2013 which has been notified on 12th September 2013 replaces the old section 295 of the Companies Act, 1956 which provides for loans to directors.
This section now applies to all companies includi...
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Category : Corporate Law |
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BOOKS OF ACCOUNTS (Companies Act, 2013
Posted Date : 11-Jan-2014 , 07:20:44 pm | Posted By
Dulichand Kushwaha
The Financial Statements of a company is most important document until recent past, when non – financial reporting started to gain its momentum. This is a reporting of growth in business in monetary units.
BOOK OF ACCOUNTS (SECTION 128):
Every company shall prepare an...
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Category : Corporate Law |
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RESOLUTION, MINUTES AND REPORT (Companies Act, 2013)
Posted Date : 11-Jan-2014 , 07:14:13 pm | Posted By
Dulichand Kushwaha
RESOLUTION (SECTIONS 114):
The Companies Act, 2013 does not define resolution. Resolution is a formal statement of a decision or expression of opinion put before or adopted by an assembly. This may be ordinary resolution or special resolution.
Ordinary Resolution:
Where proper not...
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Category : Corporate Law |
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PROXIES, VOTES AND POLLING (Companies Act, 2013)
Posted Date : 11-Jan-2014 , 07:12:46 pm | Posted By
Dulichand Kushwaha
Proxies are one of the beauties of corporate legislations. Proxies have their important in corporate decision making through voting and polls.
PROXIES (SECTION 105):
Any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint another...
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Category : Corporate Law |
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PREPARING GENERAL MEETING (Companies Act, 2013)
Posted Date : 11-Jan-2014 , 07:11:45 pm | Posted By
Dulichand Kushwaha
NOTICE OF MEETING (SECTION 101):
A General meeting of a company may be called by giving not less than clear twenty – one days’ notice either in writing (i.e. in paper form) or through electronic mode.
If consent is given in writing or by electronic mode by not less than...
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Category : Corporate Law |
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GENERAL MEETINGS (companies act, 2013)
Posted Date : 11-Jan-2014 , 07:10:06 pm | Posted By
Dulichand Kushwaha
A company may have many kinds of meetings; general meetings are one among them. In very simple terms, a meeting of general body may be called general meeting. General meeting comprises of all general members of an organisation that is company in our case.
A general meeting may be Annual...
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Category : Corporate Law |
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