Category - Company Law

Indian origin man pleads guilty of Insider Trading in US

An Indian-origin hedge fund manager in the US has pleaded guilty to his involvement in insider trading schemes and could face up to 20 years in prison. Samir Barai, 39, a portfolio manager at two different New York hedge funds, pleaded guilty before Magistrate Judge Kevin Nathaniel Fox to one count of conspiracy to commit… Read More

Tag: Insider Trading

Overseas Direct Investment Liberalisation / Rationalisation

RBI/2010-11/548 Circular No. 69 dated May 27, 2011 All Category - I Authorised Dealer Banks Attention of the Authorised Dealer (AD - Category I) banks is invited to the Notification No. FEMA 120/RB-2004 dated July 7, 2004 [Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004] (the Notification), as amended from time… Read More

Tag: Overseas Direct Investment

MCA clarifies on Body Corporate for section 226(3)(a) of the Companies Act, 1956

General Circular No.30/2011 GOI MCA Dated: 26:05:2011 All the Regional Directors, All the Registrar of Companies Clarification regarding ˜Body Corporate™ for the purpose of section 226(3) (a) of the Companies Act, 1956 The Ministry of Corporate Affairs has received representation from the Institute of Chartered Accountants of India wherein they have stated that under section… Read More

Tag: LLP

New Form No. 23D – Information by Cost Auditor to Central Government

Companies(Central Government's) General Rules and Forms (Second Amendment) , 2011 - New Form No. 23D inserted effective from 29-05-2011 Following earlier notifications by the MCA for appointment of cost auditors, the said form seeks to amend the existing form 23D for information of appointment of Cost Auditor in Companies             Read More

Tag: Form 23D Companies Act

Revision of Form No. 8 and 17 Companies Act effective from 29-05-2011

Companies(Central Government's) General Rules and Forms (Amendment), 2011 - revision of Form No. 8 and 17, effective from 29-05-2011 New forms 8 and 17  notified w.e.f. 29th May, 2011             Read More

BSE gets nod to launch an exclusive Exchange for SMEs

Asia's oldest bourse, the Bombay Stock Exchange (BSE), today said it has been granted an 'in-principle' approval by the capital market watchdog Sebi to launch an exchange exclusively for small and medium enterprises (SMEs). "BSE today received an 'in-principle' approval...the BSE is now gearing-up for its latest venture in an emerging market segment," a release… Read More

Tags: BSEExclusive Exchange for SMEs

LLP Firms cannot act as Statutory Auditors

In a sweeping circular by MCA, LLPs have been defined as Body Corporate for the limited purpose of clause (a) of sub- section 3) of section 226 of the Companies Act, 1956. Section 226 of the Companies specifies Qualifications and disqualifications of auditors. As per Sec 226, a person shall not be qualified for appointment as auditor… Read More

Tag: LLP

MCA clarifies on the applicability of provisions of sec 108A to 108I

GOI, MCA, Circular 30/2011, Dated- 23.5.2011 All the Regional Directors; All the Registrar of Companies/ Official Liquidators Sub: Clarification on applicability of provisions of section 108A to 108I of the Companies Act, 1956- regarding Sections 108A to 108I of the CVompanies Act, 1956 were inserted in the Companies Act, 1956 through Monopolies and Restrictive Trade… Read More

Central Govt. specifies LLP a body corporate

GOI, MCA, Notification dated 23.5.2011 In exercise of the powers conferred by clause (c) of sub- section (7) of section 2 of the Companies Act, 1956 (1 of 1956), the Central Governement hereby specifies, for the purpose of the said clause, the Limited Liability Partnership, a body corporate, incorporated under clause (1) of section 3… Read More

Tag: LLP

Govt. cautious in allowing FDIs in LLP format

The government has taken a cautious approach towards allowing FDI in the hitherto untried LLP format of business, mostly preferred by professionals, experts said today. The government has allowed FDI in Limited Liability Partnership (LLPs) only in sectors where 100 per cent FDI is allowed under the automatic route. But still government approval is must… Read More

Tag: FDI in LLP

Government Permits FDI in LLP Firms

The Government of India has reviewed the extant policy on FDI and decided to permit FDI in LLP firms, subject to specified conditions. Accordingly, the following changes are made in ˜Circular 1 of 2011-Consolidated FDI Policy™, which became effective from April 1, 2011: (A) Insertion of a new paragraph (2.1.41): A new paragraph (2.1.41) is… Read More

Tag: FDI in LLP

MCA 21 site relaunched with a New Look

The Minsitry of Corporate Affairs (MCA) site has been relaunched today with a new look and feel which is much more cleaner & colorful. The Minstry has been keeping vibrant these days with the Green initiatives and this seems to be a feather in the cap. Good Job MCA.          … Read More

MCA hopes better future with its Green Initiatives in Corporate Governance

In order to save trees and environment by cutting down the consumption of costly paper habits, the Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing  paperless compliances by the companies under the provisions of the Companies Act, 1956. Gving details of the initiatives to the media persons here… Read More

Tags: green initiatives by MCAGreen initiatives in Corporate Governance

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