Company Law - Corporate Law Reporter

Corrigendum to Company Law Settlement Scheme, 2011

General Circular No. 60/2011; GOI; MCA; Dated the 10th Aug, 2011 All Regional Director; All Registrars of Companies Subject: Corrigendum to Company Law Settlement Scheme, 2011 In continuation of the Ministry™s General Circular No. 59/2011 dated 5.8.2011 on the subject cited above, it is stated that the said scheme shall be applicable to Form 52… Read More

CSR budget is likely to be created by Companies

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises have issued comprehensive guidelines on Corporate Social Responsibility (CSR) for Central Public Sector Enterprises (CPSEs) in April 2010. In these guidelines, CPSEs have to… Read More

Revised Form 23AC and 23ACA expected by 12th August 2011

Ministry of Corporate Affair has decided to shortly make available the revised forms for the filing of financial statement. Revised Form 23AC and Form 23ACA will be available on the MCA Portal, effective 12th August, 2011. All Stakeholders are requested to use new version w.e.f. 12th August, 2011 (6.00 AM) as the current version of… Read More

Short-collection/Non-collection of client margins (Derivatives Segments)

CIR/DNPD/7/2011 August 10, 2011 To Managing Director/ Chief Executive Officer Recognized Stock Exchanges Dear Sir/Madam, Sub: Short-collection/Non-collection of client margins (Derivatives Segments) 1. In consultation with BSE, MCX-SX, NSE and USE, it has been decided that Stock Exchanges shall levy penalty specified hereunder on trading members for shortcollection/non-collection of margins from clients in Equity and… Read More

MCA complains the Misuse of Public Issue Funds by Companies

The Minister of State in the Ministry of Corporate Affairs today informed the Rajya Sabha that such complaints relate to misuse of public issue funds by way of diversion of funds, non-fulfillment of terms and conditions for the completion of the projects as per the time schedule given in the prospectus, non-traceability of the companies… Read More

Investment by Foreign Investors in Mutual Fund Schemes

CIR/ IMD /DF / 14 /2011 August 9, 2011 All SEBI registered Mutual Funds/ approved Asset management Companies (AMCs) / Depository participants/ Custodians. Sir / Madam, Sub: Investment by Foreign Investors in Mutual Fund Schemes. 1. In the budget speech of 2011, Hon™ble Finance Minister announced the following: Currently, only FIIs and sub-accounts registered with… Read More

Comments invited on Draft National Competition Policy

Ministry of Corporate Affairs has constituted a Committee under the Chairmanship of Shri Dhanendra Kumar, Former Chairperson of Competition Commission of India, for framing of National Competition Policy and related matters. Other Members of the Committee included Additional Secretary, MCA Shri Sudhir Mital, Shri Pradeep Mehta of CUTS, Smt. Pallavi Shroff, Advocate. Shri Manas Kumar… Read More

Annual charge contemplated on Companies : MCA

According to ET Report, The ministry of corporate affairs ( MCA) is contemplating introducing an annual charge on all registered companies in the new Companies Bill with the twin aim of boosting its revenue and creating a system to track companies. The charge will most likely be based on the capital size of the company. Read More

Promoter Co’s to be brought in the net of Insider Trading Regulations

With an aim to rein in insider trading by promoters without investors™ knowledge,Sebi has decided to make it mandatory for all promoter entities to disclose any considerable purchase or sale of shares by them. The decision would remove a major anomaly from the Sebi™s insider trading prohibition regulations, which currently requires only directors and senior… Read More

Company Law Settlement Scheme, 2011

General Circular No. 59/2011 F.No. 2/11/2011-CL V To All Regional Director, All Registrar of Companies. Sub: Company Law Settlement Scheme, 2011 Sir, 1. It has been observed that a large number of companies are not filing their due statutory (i.e. Balance sheet and Annual Returns) timely with the registrar of Companies. Due to this, the… Read More

SEBI Circular on Processing of Investor Complaints in SEBI Complaints Redress System (SCORES)

CIR/MIRSD/13/2011 To All Bankers to an Issue (BTI) and Debenture Trustees (DT) registered with SEBI Sir/ Madam, Sub: Processing of Investor Complaints in SEBI Complaints Redress System (SCORES) 1. SEBI has commenced processing of investor complaints in a centralized web based complaints redress system ˜SCORES™. The salient features of this system are: ¢ Centralized database… Read More

XBRL Training Material

Please download the XBRL training material which will clarify a host of concept and procedure for conversion of financial statements into XBRL Read More

No Tea or Coffee to Shareholders during the AGM – MCA invited comments on Draft Circular

The Ministry of Corporate Affairs has been receiving representations form various stakeholders that it has become a general practice in the country to give gifts to the shareholders while they attend any AGM in addition to the dividend recommended by the Board of Directors. It has also been brought to the notice of the Ministry that the companies… Read More