Company Law - Corporate Law Reporter

Late Fees for XBRL filings post 31st Dec, 2011 counted from original date of filing

Last date for filing financial statements in XBRL mode for phase-I class of companies (excluding exempted class) has been extended up to 31.12.2011 or within 60 days of their due date of filing, whichever is later. For details kindly see General Circular No:69/2011. Please note that companies filing after expiry of this extended timeline would… Read More

Companies Amendment Regulations – Powers of Regional Directors redefined

Powers of Regional Directors Redefined Read More

Unlisted Public Companies (Prefrential Allotment) Amendment Rules, 2011

( PUBLI SHED I N THE GAZETTE OF I NDI A, EXTRAORDI NARY, PART II,SECTION-3,SUBSECTION(i) ofdatedthe14.12.2011) GOVERNMENT OF I NDI A MI NI STRY OF CORPORATE AFFAI RS NOTI FI CATI ON New Delhi; The 14th December,2011 G.S.R. (E).-In exercise of the power conferred by sub-section (1A) of section 81, read with section… Read More

Download Companies Bill 2011 as placed before Loksabha

Dear Professional Colleagues, The Companies Bill, 2011 as introduced in the Loksabha on 14th December, 2011 can be downloaded at the link below. Read More

Ministry of Corporate Affairs to Organize India Corporate and Investor Meet in February 2012

The Ministry of Corporate Affairs will organize a week long India Corporate and Investor Meet from February 6 to 12, 2012 in the five metro cities, namely, Kolkata, Chennai, Mumbai, Bangalore and Delhi. A decision to this effect was taken in a meeting chaired by Dr. M. Veerappa Moily, Union Minister for Corporate Affairs yesterday. The senior representatives from… Read More

Allotment of Director™s Identification Number (DIN) under Companies Act, 1956

General Circular No. 70/2011 No 2/1/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi To All Regional Directors All Registrar of Companies. Sub: Allotment of Director™s Identification Number (DIN) under Companies Act, 1956 Sir, In continuation of General Circulars No. 32/2011 dated 31.05.2011 and No. 36/2011… Read More

Company Law Settlement Scheme Extended upto 15th January, 2012

General Circular No. 71/2011 F. No. 2/11/2011-CL V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr. R.P. Road, New Delhi, Dated the 15th Dec, 2011 To All Regional Director, All Registrars of Companies. Subject: Company Law Settlement Scheme, 2011 Sir, In continuation of the Ministry™s General Circulars No. 59/2011… Read More

Committee to find out means to utilise the Investor Protection And Education Fund (IPEF)

Sebi whole-time member Prashant Saran said.that capital market regulator Sebi has set up a committee to guide the Investor Protection and Education Fund (IPEF). It consists of eight-member & is headed by ICICI Bank Chairman KV Kamath. Apart from Kamath, the other members include retired bureaucrat PK Ghosh, IIM Ahmedabad professor Abraham Koshy, communications consultant… Read More

Corporate Governance dealing with PSU™s in India and its role in ONGC

Author: Gautam Nayak Co-author: Bhanu Priya 4th year student of National Law University, Jodhpur Contact details: Mobile No: 09460125691 Email address: gautam.nlu@gmail.com Corporate governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The governance framework is there to encourage the efficient use of resources and equally… Read More

Guidelines on Outsourcing of Activities by Intermediaries

CIR/MIRSD/24/2011 December 15, 2011 All intermediaries registered with SEBI Merchant Bankers/Registrars to An issue and Share Transfer Agents/Debenture Trustees/Bankers to An Issue/Underwriters/Credit Rating Agencies/Mutual Funds/Portfolio Managers/Venture Capital Funds/Collective Investment Schemes/Custodians All the Stock Exchanges (for stock brokers) NSDL/CDSL (for Depository Participants) Dear Sirs, Sub: Guidelines on Outsourcing of Activities by Intermediaries 1. SEBI Regulations for… Read More

Inactive Companies

As per the present policy of the Ministry, companies which have not filed their Annual Returns and Balance Sheets for the last three consecutive years or more are identified as ˜dormant companies™. The details of the dormant companies are as under: As on 31.03.2011- 1, 74, 400 As on 07.12.2011- 1, 56, 474 The Government… Read More

Blacklisting of Companies

The case number 43/2010 on Modular Operation Theatres is under the adjudication in the Competition Commission of India (CCI) which is a quasi judicial body. Companies found indulging in bid rigging, cartelization and other fraudulent means thereby adversely affecting the Competition would be dealt with appropriately under the relevant provisions of the Competition Act, The… Read More

Fraudulent Companies

Some Complaints have been received against a few companies after getting just a registration number from the Registrar of Companies are active in the business of obtaining money under various schemes by alluring people, particularly in rural areas , on false promise of returns. However, regulation of collection of money by companies under various schemes… Read More