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Webcast on practical challenges, grey areas & FAQs in filing eForm INC-22A (ACTIVE)

Dear Professional Colleague: All Companies which got incorporated on or before 31st Dec 2017 and are under Active status as on the date of filing are required to file the particulars for verification of registration and registered office, in eForm ACTIVE-INC-22A on or before 15th June 2019. Penalty for non-filing of the form by the due… Read More

Agile Form (Form-INC-35) : A Government Step Toward Ease Of Doing Business

The government introduced the Agile Form INC-35 that has to be filed with E-form SPICE. The form is a mandatory requirement although the directors of the company have an option of opting out of filing GST and other services that are offered with the application of the form. The introduction of the form in the… Read More

MSME Compliances – Recent Notifications

Dear Professional Colleague: Currently there are an estimated 42.50 million, registered & unregistered Small and Medium Enterprises in India a staggering 95% of the total industrial units in the country. The SME sector employs about 106 million, 40% of India’s workforce, next only to the agricultural sector and contributes over 30% to the GDP of… Read More

Tag: MSME

M/S Shriram EPC Limited vs. Rioglass Solar Sa: No stamp duty on foreign awards

To make India, arbitration friendly jurisdiction, legislature and judiciary are trying to make the enforcement process as simple as possible. The Supreme Court in M/S Shriram EPC Limited vs. Rioglass Solar Sa dealt with the issue as to whether a foreign award, which is not stamped can be enforced. There were conflicting opinions on the line… Read More

Tag: arbitration#no stamp duty

Auditing Misconduct in India: Diversion of Law by Multi-national Accounting Firms.

Multi-National Accounting Firms (MAFs) are corporate persons who dominate the auditing market in the World. The Big Four Accounting firms in India – Deloitte, Ernst and Young, PricewaterhouseCoopers and KPMG, bags half the business from India’s top 500 listed firms and all the fortune 100 firms except one[1]. The billings of top 6 MAFs is… Read More

Tags: Corporate Affairs MinistryThe Institute of Chartered Accountants of India

Can Robots Manage Your Compliances?

Artificial Intelligence (AI) has been a fascinating concept of science fiction for decades, but now we are finally getting to see AI as a reality. Artificial Intelligence, also called machine learning, is the ability of computer systems to perform tasks normally requiring human intelligence and where computers automatically learn from past data and keep becoming… Read More

Tags: ComplianceCompliance FrameworkCompliance Managementcompliance software

Guidance note on Filing of Form DIR-3 KYC

Friends, The Ministry of Corporate Affairs has vide Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018 notified on 5th July, 2018 provided for filing of Form DIR-3 KYC in order to conduct KYC of all Directors of all companies annually. I. Applicable Rules Rule 12A, Rule 11(2) and Rule 11(3) of the Companies… Read More

Growing Trends in Compliance !

Friends: Did you notice the change in the Compliance paradigm in the last few years? Companies Act compliances got digitized with Ministry of Corporate Affairs Income Tax Returns got digitized and refunds became faster. Reporting to Reserve Bank of India for Foreign Direct Investment got digitized Application for Trademarks all over India got digitized Social… Read More

Tags: ComplianceCompliance FrameworkCompliance Management

Have you ever fallen in love with a Book?

Dear Professional Colleague: Thank you for your overwhelming response to the previous 3 editions of Corporate Law Referencer (CLR), making us one of the leading books on Companies Act, 2013 in India. We are glad to announce the release of the 4th edition of Corporate Law Referencer – the latest book on Companies Act, 2013,… Read More

Tags: Book on Companies Act 2013CLRCorporate Law Referencer

Process for registration of Registered Valuers

Process to be followed for registration as Registered Valuer with the Authority under the Companies (Registered Valuers and Valuation) Rules, 2017 The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th October, 2017. It also notified the Companies (Registered Valuers and Valuation) Rules, 2017… Read More

Brief Note on Condonation of Delay Scheme (CODS), 2018

  Brief Note on Condonation of Delay Scheme (CODS), 2018   Definition Defaulting company means a company which has not filed its financial statements or Annual returns as required under the Companies Act, 1956 or Companies Act, 2013, as the case may be, and the Rules made thereunder for a continuous period of three years.… Read More

Corporate Insolvency Resolution Process: A New Recovery Mechanism for Operational Creditors

Corporate Insolvency Resolution Process: A New Recovery Mechanism for Operational Creditors  Background The Insolvency and Bankruptcy Code, 2016 (the Code) provides for a specialized forum to oversee insolvency and liquidation proceedings for individuals, firms and corporates.  The code also recognizes National Company Law Tribunal (NCLT) as the Adjudicating Authority for the purpose of Insolvency and… Read More

Tags: Corporate Insolvency Resolution ProcessIBCInsolvency and Bankruptcy Code

Critique on Unpublished Price Sensitive Information- Kotak Committee report on Corporate Governance

A committee has been constituted by SEBI under the Chairmanship of Mr. Uday Kotak (“Kotak Committee”), whereby certain amendments have been proposed to the Indian legislations for listed companies. After careful deliberations, a report has been submitted by the Kotak Committee on Corporate Governance dated October 5, 2017 (“Report”). The purpose of the Report is… Read More

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