Category - Company Law

SEBI looking for 4 new Executive Directors

Market regulator Sebi today said it plans to induct four new executive directors, who would replace some key incumbent directors handling important departments like mutual funds and secondary markets. Starting the process for hiring new directors, Sebi today invited applications for four posts of executive directors, including one for legal affairs. The remaining three would… Read More

MCA organises first Lok Adalat in Chandigarh

Union Ministry of Corporate Affairs today said it will organise a Lok Adalat for companies for the first time on June 11, with an intention of minimising litigation and avoid unnecessary prosecution against defaulting companies. "The Ministry of Corporate Affairs has decided to organise Lok Adalat for companies for settlement of compoundable offences for the… Read More

Tag: Lok Adalats

MCA has initiated enquiry against 12 Practicing Professionals for wrong eForm filing

MCA Directs Regional Directors to Initiate Inquiry Against Those Practicing Professionals Who Certified the Particulars Furnished by Listed Companies The Ministry of Corporate Affairs has directed its Regional Directors to initiate inquiry against those practicing professionals who had certified 12 cases of wrong e-filing by certain listed companies in their e-forms. During the examination it… Read More

XBRL goes Topsy Turvy – Unlisted Companies again in the ambit

MCA has issued General Circular 37 dated 7th June, 2011 on XBRL which supercedes its earlier two circulars on the subject. The implication of the above circular no. 37 is that even unlisted companies having a paid-up capital of Rs. 5 crores or more OR a turnover of Rs. 100 crores or more come under… Read More

Tags: Taxonomy for XBRL ReportingxbrlXBRL Reporting

Revised Notification and FAQs for filing Balance Sheet & Profit & Loss in XBRL mode

Gen. Circular 37/2011 dated 7th June, 2011, GOI; MCA CLR Note: MCA has issued a circular with regard to the filing of Balance Sheet and Profit & Loss Account in the extensible Business Reporting Language (XBRL) mode, framing a FAQs (Frequently Asked Questions)  for easy understanding of the shareholders. All Regional Directors; All Registrar of… Read More

Tags: Taxonomy for XBRL ReportingxbrlXBRL Reporting

Clarification regarding participation by shareholders or Directors in meetings under the Companies Act, 1956 through electronic mode

General Circular No. 35/2011 No 17/95/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi Dated: 06.06.2011 All the Regional Directors,All the Registrar of Companies/ Official Liquidators Subject: -Green Initiatives in the Corporate Governance -Clarification regarding participation by shareholders or Directors in meetings under the… Read More

Tags: board meetingsGeneral Meetings through Video Conferencinggreen initiatives by MCAGreen initiatives in Corporate Governance

Fast Track Exit Scheme to strike off Defunct Companies U/s 560

General Circular No. 36/2011 F. No. 2/3/2011-CL V Government of India Ministry of Corporate Affairs 5th Floor, ˜A™ Wing, Shastri Bhavan, Dr. R.P. Road, New Delhi Dated the 7th June, 2011 To All Regional Director, All Registrars of Companies. Subject: Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies… Read More

Tag: Fast track Exit Scheme by MCA

MCA Circular regarding settlement of prosecutions cases against Companies

F.No.3/57/2011-CL.II Government of India Ministry of Corporate Affairs 5th Floor, ˜A™ Wing, Shastri Bhavan,      New Delhi-110001 Dated 03.06.2011 To All Regional Directors, Subject: Settlement of prosecutions cases regarding Sir, While reviewing prosecution cases it was decided to review pending prosecution cases. Ministry of Corporate Affairs has decided following actions to be taken by RDs and… Read More

Tag: Lok Adalats

Company Incorporation within 24 hours in India

Come July and you will be  able to register a  company in India within 24 hours! The Ministry of Corporate Affairs (MCA) has set the target date as first week of July for launching a completely digitized service that will allow anyone with all relevant documents and approvals to complete the process of registering a… Read More

Tag: Company incorporation

Companies (Cost Accounting Records) Rules, 2011

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART-II, SECTION-3, SUB-SECTION (i)] MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated the 3rd June, 2011 G.S.R¦¦¦(E) - In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with clause (d) of sub-section (1) of section 209 of the Companies… Read More

The Companies (Cost Audit Report) Rules, 2011

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART-II, SECTION-3, SUB-SECTION (i)] MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated the 3rd June, 2011   G.S.R¦¦¦(E) - In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with sub-section (4) of section 233B, and sub-section (1) of section 227… Read More

Redemption of Indian Depository Receipts (IDRs) into Underlying Equity Shares

CIRCULAR CIR/CFD/DIL/3/2011 June 03, 2011 To All Stock Exchanges All Depositories All Registered Merchant Bankers All Registered Registrars to an Issue/STA All Registered Custodians Dear Sir/Madam, Sub: Redemption of Indian Depository Receipts (IDRs) into Underlying Equity Shares 1 In order to facilitate foreign issuers to raise funds from the Indian capital markets through IDRs and enable… Read More

SEBI Complaints Redress System (SCORES) for processing of investor complaints against listed companies

CIRCULAR CIR/OIAE/2/2011            June 3, 2011 All Companies whose securities are listed on Stock Exchanges (through Stock Exchanges) All recognized Stock Exchanges Dear Sir/Madam,   Sub:   Processing of investor complaints against listed companies in SEBI  Complaints Redress System (SCORES) 1.         SEBI has commenced processing of investor complaints in a centralized web based complaints… Read More

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