eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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CSR eligibility to be reckoned from previous 3 financial years
A query was being raised in the industry whether for calculating the eligibility limits for CSR, Financials for FY 2013-14 are to taken into account or financials tor FY 2014-15 into account. Please see the below circular issued by MCA, which clarifies that: (v). "Any financial year" referred under Sub-Section (1) of Section 135 of… Read More
Clarifications with regard to provisions of Corporate Social Responsibility under section 135 of the Companies Act, 2013
Ministry of Corporate Affairs has issued a clarification under Section 135 of the Companies Act, 2013 with respect to the CSR spends by Companies in FY 2014-15 and beyond. The circular can be accessed at the link below. General Circular No. 21/2014. Clarifications with regard to provisions of Corporate Social Responsibility under section 135 of… Read More
Three Divisions of RBI™s Foreign Exchange Department to shift to New Delhi from July 15, 2014
The Reserve Bank of India has today informed banks and other stakeholders that from July 15, 2014, three divisions of Foreign Investment Division (FID) will shift to New Delhi Regional Office of the Reserve Bank of India. The divisions are Liaison/ Branch/Project Office (LO/BO/PO) Division, Non Resident Foreign Account Division (NRFAD) and Immovable Property (IP)… Read More
E-Voting provisions deferred till 31st Dec, 2014
As per General Circular No. 20/2014 dated 17/06/2014 the Ministry of Corporate Affairs (MCA) has deferred the date of implementation of the the provisions related to e-voting to 31st December, 2014. As per Section 108 of the Companies Act, 2013 read with rule 20 of the Companies (Management and Administration) Rules, 2014 deal with the… Read More
The Companies (Meetings and Powers of Board) Amendment Rules, 2014 dated 12th June, 2014
The Companies (Meetings and Powers of Board) Amendment Rules, 2014 dated 12th June, 2014 can be downloaded by clicking at the link above. Read More
Circular No. 15-19/ 2014 issued by MCA
Circular General Circular No. 19/2014 12/06/2014 Clarification on Rules prescribed under the Companies Act, 2013- Matters relating to share capital and debentures General Circular No. 18/2014 11/06/2014 Clarification for filing of form No. INC-27 for conversion of company from public to private under the provisions of Companies Act, 2013 General Circular No. 17/2014 11/06/2014 Filing… Read More
Threshold limits for appointment of Whole Time CS restored to 5 cr including for private companies
CLR Notes: Following large scale protests by the Company Secretary fraternity and post submission of representations by the Institute of Company Secretaries of India (ICSI), the Ministry of Corporate Affairs (MCA) has finally restored the threshold limits for appointment of Whole Time Company Secretary to Rs. 5 cr and this requirement is also applicable to… Read More
The Companies (Acceptance of Deposits) Amendment Rules, 2014
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 6th June, 2014 G.S.R. 386(E).” In exercise of the powers conferred by Sections 73 and 76 read with sub-section (1) of Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Acceptance of Deposits) Rules,… Read More
Foreign investment in India participation by registered FPIs, SEBI registered long term investors and NRIs in non-convertible/redeemable preference shares or debentures of Indian companies
RBI/2013-14/632 A.P. (DIR Series) Circular No.140 June 6, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Foreign investment in India participation by registered FPIs, SEBI registered long term investors and NRIs in non-convertible/redeemable preference shares or debentures of Indian companies Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5… Read More
Clarifications on Rules prescribed under the Companies Act, 2013 – Matters relating to appointment and qualifications of directors and Independent Directors – reg.
General Circular No. 14/2014 No. 1/22/2013-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr R.P. Road, New Delhi Date: 9th June, 2014 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Clarifications on Rules prescribed under the Companies Act, 2013 - Matters relating to appointment and qualifications… Read More
Pledge of shares for business purposes in favour NBFCs
RBI/2013-14/633 A.P. (DIR Series) Circular No.141 June 6, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Pledge of shares for business purposes in favour NBFCs Attention of Authorised Dealer Category I (AD Category I) banks is invited to the provisions of Para. 2 (i) of A. P. (DIR Series) Circular No. 57 dated… Read More
Foreign investment in the Insurance Sector Amendment to the Foreign Direct Investment Scheme
RBI/2013-14/629 A.P. (DIR Series) Circular No.139 June 5, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Foreign investment in the Insurance Sector Amendment to the Foreign Direct Investment Scheme Attention of Authorised Dealers Category I (AD Category - I) banks is invited to Annex B of Schedule 1 to the Foreign Exchange Management… Read More
Opening of Bank Accounts in the Names of Minors
RBI/2013-14/581 DBOD.No.Leg.BC.108/09.07.005/2013-14 May 6, 2014 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Opening of Bank Accounts in the Names of Minors Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated December 29, 1976 wherein banks were advised to allow minors' accounts (fixed and savings deposit accounts) with mothers as guardians to be opened subject to safeguards… Read More
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