G.S.R. (E).–In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 and in pursuance of sub-section (2) of said section read with section 8 of the Companies Act, 2013 (18 of 2013), and in supersession of notifications issued under section 25 of the Companies Act, 1956 (1 of 1956) except as respects things done or omitted to be done before such supersession, the Central Government in the interest of public, hereby directs that certain provisions of the C...

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Category : Companies Act | Comments : 0 | Hits : 378

G.S.R -ln exercise of the powers conferred by section 3, section 4, sub-sections (5) and (6) of section 5, section 6, sub-section (1) and (2) of section 7, sub-sections (1) and (2) of section 8, clauses (a) and (b) of sub-section (1) of section11, sub­sections (2), (3), (4) and (5) of section 12, sub-sections (3), (4) and the proviso to sub-section (5) of section 13, sub-section (2) of section 14, sub-section (1) of section 17, sub-sections (1) and (2) of section 20 read with sub-sections (1...

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Category : Companies Act | Comments : 0 | Hits : 645

Attention of this Ministry has been drawn to General Circular No 06/2013 dated 14.03.2013 vide which it was clarified that in cases where the effective yield (effective rate of return) on tax free bonds is greater than the yiild on prevailing bank rate, there was no violation of Section 372A(31 of bompaniis Act, 1956. Stakeholders have requested for similar cLarification w.r.t. corresponding section 186(7) of the Companies Act' 2013'...

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Category : Companies Act | Comments : 0 | Hits : 720

Staleholders have drawn attention to the Drovisions of Schedule Xtll (sixth proviso to Para (C) of Section ll of Part ll) of the Companies Act, 1956 (Earlier Act) and as clarihed vide Circular nwber 14l11/2O12-CL-VII dated 16th August,2012, which allowed listed companies and their subsidiaries to pay remuneration, without approval of Central Government, in excess of limits specified in para II Para (C) of such Schedule if the managerial person met the conditions specified therein. Stakeholders h...

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Category : Companies Act | Comments : 0 | Hits : 686

S.O. _(E).- In exercise of the powers conferred by sub-section (11) of section 143 of the Companies Act, 2013 (18 of 2013 ) and in supersession of the Companies (Auditor's Report) Order, 20O3, published in the cazette of lndia, Extraordinary, Part II, Section 3, Sub-section (i), vide nurnber G.S.R. 480 (E), dated the 12th June, 2003, except as respects things done or omitted to be done before such supersession, the Central Government, after consultation with the Institute of Chartered Accoun...

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Category : Companies Act | Comments : 0 | Hits : 958

MCA has notified the Companies (Acceptance of Deposits) Amendment Rules, 2015 dated March 31, 2015. "To allot any share, stock, bond, or debenture within a specified period, if a company receives any amount by way of subscriptions to any shares, stock, bonds or debentures before the 1st April,2014 and disclosed in the balance sheet for the financial year ending on or before the 31st March,2014 against which the allotment is pending on the 31st March,2015, the company shall, by the1st J...

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Category : Companies Act | Comments : 0 | Hits : 685

Stakeholders have sought clarifications as to whether amounts received by private companies from their members, directors or their relatives prior to 1st April, 2014 shall be considered as deposits under the Companies Act, 2013 as such amounts were not treated as 'deposits' under section 58A of the Companies Act, 1956 and rules made thereunder. MCA Circular ...

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Category : Companies Act | Comments : 0 | Hits : 615

ln exercise of the powers confened by section 108 read with sub-sections (l) and (2) of section 469 of the Companies Act,2013 (18 of2013), the Central Govemment hereby makes the following rules fiuther to arnend the Compani€s (Management and Administration) Rules. 2014, namely: ...

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Category : Companies Act | Comments : 0 | Hits : 326

G.s.R -(E).-ln exercise of the powers confened under sections 173' 175' 117 ' 178' 119' 184. 185, 186, 187. 188' 189 and section 191 read with section 469 of the Companies Act' 2013 (18 of 2013), the Central Covemment hereby makes the following rules further to amend the Companies (Meetings ofBoard and its Powcrs) Rules' 2014' namely: ...

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Category : Companies Act | Comments : 0 | Hits : 618

In exercise of the powers conferred under sub_clause riil of clause (a) of section 43, sub-clause (d) of sub_section (1) of section 54, sub_ section (2) of section 55, sub-section (l) of section 56, sub_section (g) of section 56, sub-section (1) of section 62, sub-section (2) of section 42, clause {fl of sub_ section (2) of section 63, sub-section (1) of section 64 , clause (b) of sub_section (3) of section 67, sub-section (2) of section 68, sub_section (6) of section 68, sub-section (9) of sect...

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Category : Companies Act | Comments : 0 | Hits : 677

The Ministry of Corporate Affairs has issued a general circular no 04/ 2015 dated 10th March, 2015 to provide clarification with respect to advancing loans to employees would attract Section 185 or 186 or not. This Ministry has received a number of references seeking clarification on the applicability of provisions of section 186 of the Companies Act, 2013 relating to grant of loans and advances by Companies to their employees. The issue has been examined and it is hereby clarified that lo...

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Category : Companies Act | Comments : 0 | Hits : 802