Company Law - Corporate Law Reporter

Online incorporation of companies within 24 hours

General Circular No. 49 /2011; GOI; MCA; Dated 23rd July, 2011 All Regional Directors, All Registrar of Companies. Sub: Online incorporation of companies within 24 hours In order to give ease to the corporate world to carry business in India, the Ministry of Corporate Affairs has been simplifying the procedures under the Companies Ac t, 1956. As another… Read More

Simplified procedure for obtaining online approval of Central Government U/S 297 of the Companies Act, 1956

General Circular No. 52/2011; GOI;MCA; Dated 25th July, 2011 CLR Note: Effective 24th Sept, 2011, Sec 297 approvals will be given online. The procedure will be much simplified and there will be no need to visit the Regional Director Office for such approvals nor any documents need to be filed physically. The approval can be… Read More

Rectification of register of charges under section (U/s) 141 of the Companies Act, 1956 Simplified

General Circular No. 51 / 2011; GOI; MCA; Dated 25th July, 2011 CLR Note: The major change in the simplified procedure is the transfer of jurisdiction of approval of such cases including condonation in delay for form 8 & 17 will now be transferred to the Registrar of Companies instead of Company Law Board. The… Read More

Shifting of Registered Office from one state to another state now becomes easier

General Circular No. 50 / 2011; GOI; MCA; Dated 25th July, 2011 All Regional Directors, All Registrar of Companies, All Stakeholders Sub: Simplified procedure for obtaining confirmation of shifting of registered office from one state to another state under section 17 of the Companies Act,1956. In order to simplify the procedures and cut timelines, the Ministry has… Read More

Utilising CFCs Service for XBRL filing of financial statements from 2010-11 onwards

ICSI- Utilising CFCs Service for XBRL filing of financial statements from 2010-11 onwards The Institute is pleased to inform that Ministry of Corporate Affairs has decided to utilize the services of Certified Filing Centers (CFC) for enabling companies to file their financial statement in XBRL from FY 2010-11 onwards. CFC would also be required to assist… Read More

Last date for filing of BS & P&L in XBRL mode likely to be extended till 30th November

Last date for filing of Balance Sheet, Profit and loss Account in XBRL is extended till 30th November. Announced by MCA in XBRL web seminar. Expect circulars to this effect soon. Read More

Payment of fees to CAs in cases where funds are not permitted from Common Pool Fund

GENERAL CIRCULAR NO. 42/2011 35/6/2011-Insolvency Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr. R.P. Road, New Delhi-110001 Dated: 7thJuly 2011 To All Regional Directors All ROCs All Official Liquidators Subject: Payment of fees to CAs in cases where funds are not permitted from Common Pool Fund. Sir, It has been… Read More

MCA invites comments on Draft Public Companies (Terms of Issue of debenture and of raising of loans with option to convert such debentures or loans in to shares) Rules, 2011

No 2/8/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi Dated: 13.07.2011 All the Regional Directors, All the Registrar of Companies All stakeholders Subject : Draft Public Companies (Terms of Issue of debenture and of raising of loans with option to convert such debentures or… Read More

Defaulters List Of Companies, Directors and Company Secretaries issued By MCA

The Ministry of Corporate Affairs vide its Circular No. 33/2011 dated 01.06.2011 had informed all stakeholders that no event based e-forms shall be accepted by the defaulting companies, their Directors and Companies Secretaries with effect from 3rd July, 2011 unless up-to-date Balance Sheets and Annual Returns are filed with ROC by such defaulting companies. The… Read More

Prosecution of Directors

General Circular No.47/2011; GOI; MCA; Dated 14th July, 2011 All Regional Directors, All Registrars of Companies, All Official Liquidators. Sub: Prosecution of Directors Regarding I am directed to refer to this Ministry™s General Circular No. 08/2011 dated 25.03.2011 on the subject cited above and to state that the nominee director on behalf of Public Financial Institutions,… Read More

Amendment in Sch XIII – Remuneration to Profession Managerial Person of Listed and its Subsidiaries.

General Circular No. 46/2011; GOI; MCA All the Regional Directors,All the Registrar of Companies,All Stakeholders Sub: Waiver of approval of Central Government for payment of remuneration to professional managerial person by companies having no profits or inadequate profits In order to promote the development of Indian Corporate sector and another step towards simplification of procedure… Read More

SEBI Circular on Establishment of Connectivity with both depositories NSDL and CDSL

CIR/MRD/DP/ 10 /2011 July 18, 2011 To, All Stock Exchanges Dear Sir / Madam, Sub: Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement 1. It is observed from the information provided by the depositories that the companies listed in Annexure… Read More

Companies (Central Government’s) General Rules and Forms,1956- Amended

GOI; MCA; Notification dt. 14th July, 2011 G.S.R¦¦.(E).- In exercise of the powers conferred by clauses (a) and (b) of sub- section (1) of section 642 of the Companies Act, 1956 (1 of 1956) read with sections 20 and 21 of the Companies Act, 1956 and all other powers hereunto enabling the Central Government hereby… Read More