Category - Company Law

ICAI inviting experts for XBRL

In the recent times, XBRL has emerged as a novel way of electronic communication of financial and business data which is revolutionizing business reporting around the world. Considering the benefits attached with implementing XBRL in the preparation, analysis and communication of business information, the regulators in India have also decided to implement XBRL in their… Read More

Tag: xbrl

CCI nod necessary for M&As to check Monopolies

The government today said it will keep an eye on those merger and acquisition deals that create monopolies and impede economic growth. "The Competition Commission of India (CCI) will check mergers that end up creating monopolies or abuse of dominance harmful to consumers and small producers and impede orderly economic growth," Corporate Affairs Minister (MCA)… Read More

Tags: cciCompetition Commission

SEBI Takeover Code to be amended

The Takeover Regulations Advisory Committee met industry representatives to discuss the amendments in the new mergers and acquisitions code. The Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions soon now. Once the Finance Ministry clears the amendments, it is likely to be approved by market regulator SEBI… Read More

Tag: takeover code

New Companies Bill to be placed in the Monsoon Session : Murli Deora

"The Companies Bill will come in for discussion in Parliament in the Monsoon Session," Corporate Affairs Minister Murli Deora said on the sidelines of a FICCI event in Delhi. The new Companies Bill, which was tabled in the backdrop of the Rs. 14,000 crore-Satyam fraud, promises greater shareholder democracy and stricter corporate governance norms. The Bill proposes to… Read More

Tag: companies bill

Now send Notices to Shareholders through Emails instead of Post

Circular No. 1712011; NO1 7/95/2011 CL-V CLR Note: Green Initiative in the Corporate Governance - Now, it becomes easier for the companies to send notices/documents to its shareholders via their E-mail instead of posting; bringing in more flexibility, less time consuming and easier  for both, the company and the shareholders. The companies will be be giving time… Read More

Structuring of Business Entities in India

Written By S.Dhanapal, B.Com,B.A.B.L,A.C.S Practising Company Secretary STRUCTURING OF BUSINESS ENTITIES IN INDIA SOLE PROPRIETORSHIP MEANING:- The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual. For tax and legal liability purpose, the owner and the business are one and the same.… Read More

Tags: AssetBusinessCompanies lawCorporationHindu Undivided FamilyIncorporationLegal personalitySole proprietorship

Simplified Procedure for amalgamation of Government Companies U/s 396

GENERAL CIRCULAR NO. 16/2011 Simplified Procedure for amalgamation of Government Companies U/s 396 of the Companies Act, 1956 CLR Note: MCA has simplified the procedure for amalgamation of government companies resulting into easy exit of the transferor company. F.No. 51/16/2011/CL-III Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr. R.P.… Read More

Tag: easy exit scheme

Appointment of Cost Auditor under Section 209

General Circular No, 15/2011 Cost auditors who are qualified CWA's by Institute of Cost and Works Accountants to be appointed by all Manufacturing Companies who are required to get a cost audit done under Section 209(1)(d) of the Companies Act, 1956. The circular seeks to revise the procedure for appointment of such Cost Auditors. 52/5/CAB-2011… Read More

Murli Deora to Chair a Special Meeting on Issues Relating to Competition

Murli Deora to Chair a Special Meeting on Issues Relating to Competition Union Minister of Corporate Affairs Shri Murli Deora has convened a special meeting on 25th April, 2011 at Mumbai to listen the views of Corporate India on issues relating to competition. The meeting has been called after a discussion with Secretary, Shri D.K.… Read More

Registrar of Companies and Regional Directors to get more powers

Ministry of corporate affairs (MCA) is set to give more powers to the Executive for conducting investigations by eliminating the need to seek multiple approvals before launching prosecution against defaulting companies. MCA is delegating a large part of investigation-related work to Regional Directors, encouraging the use of emails and stepping up hiring at its field… Read More

Tags: regional directorROC

Managerial Remuneration in unlisted companies having no profits/inadequate profits

MCA has amended Part C of the Schedule XIII of Companies Act vide Notification GSR 70(E) . Earlier Central Government approval was required for Managerial remuneration if the proposed remuneration was exceeding Rs. 4 lacs per month and the Company had inadequate or no profits. The said approval has been dispensed with for unlisted companies. The… Read More

Tag: managerial remuneration

Download Draft XBRL Taxonomy

Exposure Draft on XBRL taxonomy for Commercial and Industrial (C&I) entities on which comments, if any, are invited by MCA by 30th April, 2011. Ministry of Corporate Affairs (MCA) has come out with an Exposure Draft on XBRL taxonomy for Commercial and Industrial (C&I) entities for filing their Balance Sheet and Profit and Loss Account.… Read More

Tag: xbrl

Electronic Filing of Stamp duty on MCA – Now in J&K also

The provisions regarding stamp duty payment on Form No. 1, Memorandum of Association, Articles of Association, Form No. 5 and Form No. 44 electronically, at the time of their e-filing through MCA portal (www.mca.gov.in) , in addition to the already existing list of States and Union Territories published on the MCA portal,will also be mandatory… Read More

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