Company Law - Corporate Law Reporter

MCA- Conference on revised version of National Competition Policy begins

The Second round of consultations on the revised version of National Competition Policy will held tomorrow at FICCI, Federation House, Tansen Marg, New Delhi. The Union Minister for Corporate Affairs Dr. M.Veerappa Moily will chair the consultations. The consultations are a sequel to the constitution of a Committee for framing the National Competition Policy and… Read More

MCA- Compliance of the provisions of Companies Act, 1956 and Rules to come in effect from 25/9

General Circular No. 64/2011; GOI; MCA; Dated 20th Sept, 2011 Regional Director, All Registrars of Companies Subject: Compliance of the provisions of Companies Act, 1956 and Rules made thereunder Please refer to this Ministry™s earlier circular no. 63/2011 dated 6th September, 2011 on the subject cited above. In this regard, I am directed to say that the said circular… Read More

Registration of Benchmark Mutual Fund Cancelled

Pursuant to the transfer of schemes of Benchmark Mutual Fund to Goldman Sachs Mutual Fund and at the request of Goldman Sachs Mutual Fund, Securities and Exchange Board of India (SEBI), vide its letter dated September 14, 2011, has cancelled the certificate of registration of Benchmark Mutual Fund and has withdrawn the approval granted to… Read More

Redressal of investor grievances against Depository Participants (DPs) in SEBI Complaints Redress System (SCORES)

CIRCULAR CIR/MIRSD/20/2011 September 12, 2011 To NSDL & CDSL Sir/Madam, Sub: Redressal of investor grievances against Depository Participants (DPs) in SEBI Complaints Redress System (SCORES) 1. SEBI has commenced processing of investor grievances in a centralized web-based complaints redressal system, ˜SCORES™. The salient features of this system are: ¢ Centralized database of all complaints; ¢ Online movement… Read More

Filing of a few forms by Defaulting Companies

General Circular No. 63/2011; GOI;MCADated 6th Sept, 2011 All Regional Director, All Registrars of Companies. Subject: Compliance of the provisions of Companies Act, 1956 and Rules made thereunder The Ministry has issued General Circular No. 33/2011 dated 01.06.2011 wherein it was informed that in order to ensure corporate governance and proper compliance of provisions of Companies Act, 1956,… Read More

Amendments to SEBI (Mutual Funds) Regulations, 1996

All Registered Mutual Funds/ Approved Asset Management Companies (AMCs) Sir/Madam, Sub: Amendments to SEBI (Mutual Funds) Regulations, 1996 1. We are enclosing a copy of the Gazette Notification No. LAD-NRO/GN/2011-12/27668 on Amendments to SEBI (Mutual Funds) Regulations, 1996 dated August 30, 2011 for your information and implementation. 2. Mailing of Annual Report or Abridged Summary:… Read More

Cases of Appointment of MD and Directors

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that it is not a fact that large number of cases under Companies Act, 1956 regarding appointment / re-appointment schedule of Managing Directors or whole time Director / Managers are pending for a long time. Replying to… Read More

Investigation of Polyester Companies by CCI

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that an information alleging cartelization by Synthetic Fiber Manufacturer Companies has been received by the Competition Commission of India (CCI). The Commission has directed Director General, CCI to conduct investigation in the said matter. Replying to a… Read More

Societies Registration Act getting ready for a makeover

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that An Expert Group under the Chairmanship of Shri.K.N.Chaturvedi has been constituted to study the legislative and regulatory architecture of the Society Registration Act, 1860. The report has not yet been received. The minister was replying to… Read More

1.6 lacs Companies defunct as per MCA

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that the total number of defunct companies, (those that have not filed their Annual Returns and Balance Sheets for the last three consecutive years or more) as per MCA records is 1,62,144. Total number of defunct private… Read More

Non Repayment of Deposits by Companies

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that 41 complaints alleging non-repayment of deposits were received during the last three years. Prosecutions were filed against M/s. Morepen Laboratories Limited, M/s. Euro Cotspin Limited, M/s. Asian Alloys Limited and M/s. Unique Entrade Private Limited. Names… Read More

MCA clarifies the notification S.O.447 (E) on Revised Schedule VI

General Circular no. 62/2011; GOI; MCA; Dated: 05.09.2011 All Regional Directors; All Registrar of Companies; All Official Liquidators Sub: Clarification on notification no. S.O.447 (E) dated 28.02.2011 on Revised Schedule VI ( shall be effective from 01.04.2011) The undersigned is directed to refer to this Ministry™s notification no. S.O. 447 (E) dated 28.02.2011 regarding Revised… Read More

Incorporation of Companies removed through Straight Through Processing

General Circular No. 61/2011 No 2/10/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi Dated the 5th Sept, 2011 To, All Regional Directors All Registrar of Companies. Sub: Online incorporation of companies within 24 hours Sir, Please refer to this Ministry™s General Circular No.… Read More