Category - Company Law

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  http://mca.gov.in/MCA21/ 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

Debate is on on the proposed Open Offer Limit in the new Takeover code

In order to bring down the cost of acquisition, the Finance Ministry is likely to peg the open offer limit to 50-75 per cent as against 100 per cent recommended by the Sebi panel on the new Takeover Code. "In regard to 100 per cent open offer (as recommended by Achuthan panel), more or less… Read More

Tag: New Takeover Code Regulations

New Rules to regulate Stock Exchanges soon : Consultations Begin

The government will begin tomorrow its consultations with various stakeholders regarding a new set of rules on how stock exchanges should be owned and run, proposed by a Sebi-appointed committee last year. Besides the exchanges, new ownership and governance rules have also been proposed by the committee, chaired by former RBI Governor Bimal Jalan, for… Read More

Mergers within the same group should be exempted from CCI norms: CII

Industry body CII today said competition watchdog CCI's approval should not be made mandatory for mergers and amalgamations between group companies. "While acquisitions of control or shares or voting rights or assets within the same group have been exempted from the notification requirement, mergers or amalgamations have not been specified, which appears to be an… Read More

Tag: Combination Regulations

Participation by directors in meetings of Board / Committee of directors under the Companies Act, 1956 through electronic mode.

General Circular No. 28/2011, Dated: 20.05.2011 Subject: Green Initiative in the Corporate Governance Participation by directors in meetings of Board / Committee of directors under the Companies Act, 1956 through electronic mode. Sir, The Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing paperless compliances by the Companies after… Read More

Tags: board meetings through electronic modegreen initiatives by MCAGreen initiatives in Corporate Governance

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