Companies Act 1956

Clarification with regard to Section 185 of the Companies Act, 2013

General Circular No 03/2014 No.01/12/2013-CL.V Government of India Ministry of Corporate Affairs 5th Floor,™ A' Wing, Shastri Bhawan, Dr. R.P. Road, New Delhi-110001. Dated: 14/2/2014 To All Regional Directors, All Registrar of companies, All Stakeholders. Subject: Clarification with regard to Section 185 of the Companies Act, 2013. Sir, 1. This Ministry has received number of… Read More

Tags: Companies ActCompanies Act 1956Holding companyLoanNew DelhiRegistrar of CompaniesSection 372A of the Companies ActSubsidiary

Prosecution Architecture Under The Companies Act 2013

Foreword Mechanism For Criminal Proceedings Under The Present Companies Act 1956 Generally at the time of scrutinizing the Balance Sheet and Other Financial Statements of the Company, if Registrar of Companies come across any lapses on part of the Company in recording the transactions and financial irregularities etc. and observed provisions of Companies Act 1956… Read More

Tags: Central GovernmentCompanies ActCompanies Act 1956Company Law BoardRegistrar of CompaniesSecurities & Exchange Board of IndiaSerious Fraud Investigation OfficeSFIO

Report by Regional Director (RD) u/s 394A of the Companies Act, 1956- Taking accounts of comments/inputs from Income Tax Department and other sectoral Regulators while filing reports by RD

General Circular No 1/2014, Dated :15th January 2014 Subject: Report u/s 394A of the Companies Act, 1956- Taking accounts of comments/inputs from Income Tax Department and other sectoral Regulators while filing reports by RDs. Section 394A of the Companies Act, 1956 requires service of a notice on the Central Government wherever cases involving arrangement/compromise (under Section 391) or reconstruction / amalgamation (under… Read More

Tags: AmalgamationCentral GovernmentCompanies Act 1956GovernmentGovernment of IndiaIncome taxMergerRD reportRegistrar of CompaniesSection 394

Buy back of Shares – Need of Listed and Unlisted Companies

Buy back of Shares: Need of Listed and Unlisted Companies Ishwar Ahuja & Isha Gandhi* Outline When Companies with outstanding businesses and comfortable financial positions find their shares selling far below the intrinsic value in the marketplace, no alternative action can benefit shareholders as surely repurchases. - Warren Buffett The term Buy back has two… Read More

Tags: Bank of EnglandCompanies ActCompanies Act 1956Diluted earnings per shareIndiaPublic companySecurities and Exchange Board of IndiaWarren Buffett

Companies Act 2013 and Draft Rules there under – Commentary on Drafting anomalies, aberrations, contradictions et al – Urgent Need for Review

Introduction The much awaited Companies Act 2013 (hereinafter referred to as The Act) is now a valid piece of legislation having received presidential assent in August last year. The Act is now operational, albeit, partially with 98 provisions having been notified for application effective September 12,2013.The other provisions have been kept in suspended animation awaiting… Read More

Tags: Board of directorsCompanies ActCompanies Act 1956Companies Act 2013CompanyDebentureGovernmentSections

Corporate Ethics and Corporate Governance – Who will guard the guards?

(Speech delivered by Dr. (Smt) Deepali Pant Joshi, Executive Director, Reserve Bank of India at the National Institute of Securities Markets, Kolkata on 11th December, 2013) Introduction At the outset, let me congratulate the organisers for this topical choice of subject, one which concerns us all. I thank Director, National Institute of Securities Markets, Dr.Sandip Ghose… Read More

Tags: Board of directorsChairmanCompanies Act 1956Corporate GovernanceCorporationNational Institute of Securities MarketsReserve Bank of IndiaSarbanes–Oxley Act

Provisions for Enquiring Into Irregularities of Corporates

No instance of Satyam Computers like corporate fraud and malfeasance has so for come to light. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot, Minister for Corporate Affairs, said that alleged irregularities are enquired into through the following measures: ¢ Conducting technical scrutiny of the Balance… Read More

Tags: Balance sheetCompanies ActCompanies Act 1956Corporate Affairs MinistryLokSabhaRegistrar of CompaniesSachin PilotShri Sachin Pilot

MCA Measures to Prevent and Deal with Occurrence of Frauds

During the last three years and the current year (till date), the Ministry of Corporate Affairs has ordered investigations under section 235 and section 237 of the Companies Act, 1956 in 139 cases of alleged corporate frauds through the Serious Fraud Investigation Office (SFIO) of the Ministry. Giving this information in written reply to a question… Read More

Tags: Collective investment schemeCompanies ActCompanies Act 1956Corporate Affairs MinistryCorporate GovernanceLokSabhaSachin PilotWest Bengal

Amendment of Accounting Standards

Examination of various Rules and Accounting Standards under the Companies Act, 2013 is an ongoing process. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that Accounting Standards are amended from time to time keeping in view the requirements of the situation.… Read More

Tags: Companies ActCompanies Act 1956Corporate Affairs MinistryLokSabhaMinister of Corporate AffairsRajya SabhaSachin PilotShri Sachin Pilot

Use of Unclaimed Funds Lying With Companies

As specified in Section 205C of the Companies Act, 1956, companies are required to transfer such amounts as have remained unclaimed and unpaid on account of dividends, matured deposits and debentures with companies for a period of seven years from the date that they become due for payment to Investor Education and Protection Fund (IEPF).… Read More

Tags: Companies ActCompanies Act 1956Corporate Affairs MinistryIndiaInvestor educationLokSabhaRajya SabhaSachin Pilot

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