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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : Corporate Law

EPFO hikes insurance cover up to Rs 6 lakh from current limit of Rs 3.6 lakh
Posted Date : 17-Sep-2015 , 08:13:59 am | Posted By CASANSAAR

A meeting of the Central Board of Trustees of Employees Provident Fund Organisation (EPFO) here on Wednesday decided to enhance the insurance benefit payable to dependents of the members of the Employees’ Provident Fund from the present Rs. 3.60 lakh to 6 lakh. The move under the Employee...

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Category : Corporate Law | Comments : 0 | Hits : 499

Approval to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015
Posted Date : 17-Sep-2015 , 08:05:57 am | Posted By CASANSAAR

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015.  The proposed amendments to the Negotiable Instruments Act, 1881 (“The NI Act”) are focused on clarif...

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Category : Corporate Law | Comments : 0 | Hits : 384

New patent norms to ease filing for IT companies
Posted Date : 02-Sep-2015 , 08:43:24 am | Posted By CASANSAAR

The Controller General of Patents, Designs and Trade Marks has issued new guidelines for issuance of computer-related inventions, which could make it easier for IT companies in the country to register a patent. The guidelines, issued on August 21, allow companies to show innovation in just softwa...

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Category : Corporate Law | Comments : 0 | Hits : 502

Amendments to the arbitration Act cleared
Posted Date : 27-Aug-2015 , 08:04:39 am | Posted By CASANSAAR

The government will move an amendment Bill inParliament to make  India a favourable place  to  settle  disputes through arbitration. The Cabinet on Wednesday cleared the Arbitration and Conciliation (Amendment) Bill, 2015 for  this purpose, amid companies such as&nbs...

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Category : Corporate Law | Comments : 0 | Hits : 531

Filling up of 10 posts of Technical Member in the National Company Law Tribunal (NCLT)
Posted Date : 19-Aug-2015 , 08:28:03 am | Posted By CASANSAAR

The Ministry of Corporate Affairs has invited applications for 10 posts of Technical Member in the National Company Law Tribunal (NCLT) to be constituted under Section 408 of the Companies Act, 2013.  A member of the Institute who is, or has been in practice as a chartered accountant for at ...

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Category : Corporate Law | Comments : 0 | Hits : 691

Verification of all lawyers soon - Law Minister
Posted Date : 14-Aug-2015 , 08:16:39 am | Posted By CASANSAAR

The Bar Council of India has introduced an exhaustive mechanism for ascertaining fake and non-practicing lawyers and with that purpose it has already framed the BCI certificate and Place of Practice (verification) Rules 2015, law minister Sadananda Gowda said on Thursday.  The minister said ...

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Category : Corporate Law | Comments : 0 | Hits : 873

Cases of Corporate Frauds/Chit Fund Scams Involving Companies
Posted Date : 31-Jul-2015 , 09:33:40 pm | Posted By CASANSAAR

The Ministry, during the last three years and current year, has ordered investigation into the affairs of 145 companies which were allegedly involved in illegal deposit taking activities.  A State-wise list of these companies is enclosed as Annexure. In many of the cases where investigatio...

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Category : Corporate Law | Comments : 0 | Hits : 458

30 per cent of lawyers in India are fake - Bar Council
Posted Date : 26-Jul-2015 , 04:38:36 pm | Posted By CASANSAAR

Thirty per cent of lawyers in the country are fake, possessing 'fraudulent' law degrees or non-practising persons, and were degrading the profession, Bar Council of India Chairman Manan Kumar Mishra has said. He also said 20 per cent of persons sporting lawyers robes did not have proper l...

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Category : Corporate Law | Comments : 0 | Hits : 983

Amendment in Negotiable Instrument Act
Posted Date : 25-Jul-2015 , 08:22:17 am | Posted By CASANSAAR

The President of India has promulgated the Negotiable Instruments (Amendment) Ordinance, 2015 (No.6 of 2015) on 15th June, 2015. The Ordinance provides for determination of territorial jurisdiction of courts for trying cases relating to offence of dishonour of cheques under Section 138 of the Negoti...

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Category : Corporate Law | Comments : 0 | Hits : 700

NSE issues notice to 260 companies over women director appointments
Posted Date : 22-Jul-2015 , 10:45:07 pm | Posted By CASANSAAR

Leading stock exchange NSE has issued notices to 260 companies, including 145 suspended firms, for their alleged failure to comply with Sebi norms to appoint at least one female director on their respective boards. Sebi had issued guidelines in February last year asking companies to appoint at ...

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Category : Corporate Law | Comments : 0 | Hits : 601

CCI issues order against Public Sector Insurance Companies for Bid Rigging
Posted Date : 17-Jul-2015 , 07:54:20 am | Posted By CASANSAAR

The Competition Commission of India(CCI)has imposed a total penalty of Rs. 671.05 crores upon4 Public Sector Insurance Companies for manipulating the bidding process initiated by Government of Kerala for selecting insurance service provider for RashtriyaSwasthyaBimaYojna for the years 2010-11, 2011-...

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Category : Corporate Law | Comments : 0 | Hits : 329

BSE notice to 530 firms for non-compliance on women directors
Posted Date : 13-Jul-2015 , 10:10:21 pm | Posted By CASANSAAR

Top bourse BSE has issued notices to 530 companies with regard to imposition of fines for not complying with Sebi norms to appoint at least one woman director on their respective boards within the prescribed timelines. The capital markets watchdog had issued guidelines in February last year askin...

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Category : Corporate Law | Comments : 0 | Hits : 460

President Pranab Mukherjee Promulgates Ordinance to Tackle Cheque Bounce Cases
Posted Date : 17-Jun-2015 , 09:23:14 pm | Posted By CASANSAAR

An ordinance that will allow filing of cheque bounce case at the place where the cheque was presented for clearance has been promulgated by President Pranab Mukherjee. The President has promulgated the Negotiable Instruments (Amendment) Ordinance, 2015, on Monday that will help lakhs of persons b...

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Category : Corporate Law | Comments : 0 | Hits : 370

Proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015
Posted Date : 10-Jun-2015 , 10:34:01 pm | Posted By CASANSAAR

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015.  The proposed amendments to the Negotiable Instruments Act, 1881 (“The NI Act”) are focused on clarif...

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Category : Corporate Law | Comments : 0 | Hits : 448

Satyam founder challenges fraud case verdict
Posted Date : 13-Apr-2015 , 06:47:33 pm | Posted By CASANSAAR

The founder of Satyam Computer Services, Ramalinga Raju, who was found guilty in an accounting fraudcase and sentenced to seven years' imprisonment last week, has filed an appeal to challenge the court's verdict. Uma Maheshwar Rao, a lawyer for Raju, told R...

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Category : Corporate Law | Comments : 1 | Hits : 697

Raju brothers sentenced to 7 years in jail, fined Rs. 5.5 crore
Posted Date : 09-Apr-2015 , 11:11:54 pm | Posted By CASANSAAR

Former chairman of Satyam Computers B. Ramalinga Raju and nine other accused in the Satyam Computers scandal have been awarded seven years rigorous imprisonment and imposed varying amounts of fine by a Special Court in Hyderabad on Thursday. All the 10 accused in the multi-crore Satyam Computers acc...

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Category : Corporate Law | Comments : 0 | Hits : 640

Govt launches single window e-biz portal to foster business environment
Posted Date : 20-Feb-2015 , 08:44:32 am | Posted By CASANSAAR

The government has launched a single window e-Biz portal for 11 Central government services to bring transparency and ease of doing business in the country. Launching the portal in New Delhi yesterday, Finance Minister Arun Jaitley said, the project will help in fostering the business environment in...

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Category : Corporate Law | Comments : 0 | Hits : 887

Govt Constitutes Panel to advise MCA on 'progressive use' of Hindi
Posted Date : 20-Feb-2015 , 08:22:37 am | Posted By CASANSAAR

A panel, that includes Parliamentarians, will render advise to the Ministry of Corporate Affairs on "progressive use" of Hindi language.   The 'Hindi Salahkar Samiti' would have members from the Lok Sabha, the Rajya Sabha as well as representatives from the voluntary organisatio...

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Category : Corporate Law | Comments : 0 | Hits : 394

New Indian Accounting Standards to be notified by March 2015 - MCA
Posted Date : 06-Feb-2015 , 06:14:58 pm | Posted By CASANSAAR

The Central Government will the notify adoption of the proposed Indian Accounting Standards (Ind AS), the converged Indian version of International Financial Reporting Standards (IFRS), by March. The Ind AS will come into effect for the first time in 2016-17 Indian corporate balance sheets. Stock ex...

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Category : Corporate Law | Comments : 0 | Hits : 943

ICAI supports changes to Companies Act
Posted Date : 29-Jan-2015 , 08:45:18 am | Posted By CASANSAAR

The Institute of Chartered Accountants of India (ICAI) has said that it supports the NDA government’s decision to amend the Companies Act, 2013, by making it easier to get approvals for related party transactions by non-related shareholders through a simple resolution, instead of special resol...

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Category : Corporate Law | Comments : 0 | Hits : 728

Government Amends Rules Under Companies Law
Posted Date : 21-Jan-2015 , 08:48:58 am | Posted By CASANSAAR

Amending rules under the companies law, government has exempted unlisted firms having overseas subsidiaries from preparing consolidated financial statement for the current financial year.   Besides, the Corporate Affairs Ministry has amended rules pertaining to Corporate Social Responsibility...

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Category : Corporate Law | Comments : 0 | Hits : 926

New President & Vice-President of ICSI for the Year 2015
Posted Date : 19-Jan-2015 , 02:21:54 pm | Posted By CASANSAAR

CS.Atul Mehta & CS Mamta Binani has been elected as President & Vice President of The Institute of Company Secretaries of India.(ICSI)   CASANSAAR Congrats CS.Atul Mehta & CS Mamta Binani for being elected as President & Vice-Presient of ICSI....

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Category : Corporate Law | Comments : 0 | Hits : 568

Form AOC-5 is available for filing w.e.f from 17th Jan 2015 - MCA
Posted Date : 17-Jan-2015 , 10:32:00 pm | Posted By CASANSAAR

Form AOC-5 is available for filing w.e.f. January 17, 2015.   Form AOC-5:   Notice of address at which books of account are maintained.   All about Form AOC-5   eForm AOC-5 is required to be filed pursuant to Section 128 of the Companies Act, 2013.   Section 128: (...

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Category : Corporate Law | Comments : 0 | Hits : 1514

New Companies Act compels firms to conduct background checks on potential board members
Posted Date : 17-Jan-2015 , 10:31:07 pm | Posted By CASANSAAR

The days when nomination of an independent director solely depended on his or her personal relationship with the promoter of any company could soon become a thing of the past. As the new Companies Act makes independent directors more accountable, many listed as well as unlisted firms ...

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Category : Corporate Law | Comments : 0 | Hits : 345

MCA's three-stage plan to execute remaining 40% of new Companies Law
Posted Date : 15-Jan-2015 , 08:18:57 am | Posted By CASANSAAR

The corporate affairs ministry is rolling out a three-stage plan for implementation of the remaining 40% provisions of the new Companies Act and it wants to notify most of the remaining sections by the end of this year to facilitate transition to new law. In the next six months, the ministry pl...

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Category : Corporate Law | Comments : 0 | Hits : 515

Government to implement new Companies Act that includes setting up IEPFA and NFRA
Posted Date : 05-Jan-2015 , 08:39:49 am | Posted By CASANSAAR

The corporate affairs ministry has charted its road map for full implementation of the new Companies Act that envisages setting up Investor Education and Protection Fund Authority (IEPFA) and National Financial Reporting Authority (NFRA) within six months.The government is already in final stages of...

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Category : Corporate Law | Comments : 0 | Hits : 585

Govt comes out with roadmap for new accounting standards
Posted Date : 04-Jan-2015 , 10:08:56 am | Posted By CASANSAAR

The ministry of corporate affairs (MCA) has drawn up a revised roadmap for companies for implementation of the Indian Accounting Standards (Ind AS) converged with the International Financial Reporting Standards (IFRS) for companies other than banking companies, insurance companies and NBFCs. The min...

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Category : Corporate Law | Comments : 0 | Hits : 624

No law perfect, new Companies Act provides for self regulation: MCA
Posted Date : 29-Dec-2014 , 08:44:48 am | Posted By CASANSAAR

Stating that no law can be considered perfect, the Corporate Affairs Ministry has said the new Companies Act provides an opportunity for self- regulation and greater transparency. The new Act, which replaces the nearly six-decade-old legislation that governs corporates, was pass...

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Category : Corporate Law | Comments : 0 | Hits : 693

New Companies Law More User-Friendly : Survey
Posted Date : 26-Dec-2014 , 09:12:24 pm | Posted By CASANSAAR

More than nine months since the new companies law came into force, most executives feel that the legislation is more "user-friendly" compared to the previous one, according to a survey.   However, majority of respondents said it would be challenging for listed companies to comply with provisi...

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Category : Corporate Law | Comments : 0 | Hits : 821

Key Changes in Companies Amendment Bill 2014 passed by Lok Sabha
Posted Date : 18-Dec-2014 , 08:37:35 am | Posted By CASANSAAR

The Lok Sabha, the lower house of the Parliament, has passed the Companies (Amendment) Bill, 2014, which will make it easier for corporates to do business and to ensure severe punishment for illegal money pooling activities, among other things.   The amendments have been proposed in order to ...

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Category : Corporate Law | Comments : 1 | Hits : 2849

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