Company Law - Corporate Law Reporter

E-filing of Income Tax return in respect of companies under liquidation

GENERAL CIRCULAR NO. 41/2011 GO I; MCA; Dated 6th July 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: E-filing of Income Tax return in respect of companies under liquidation. The Official Liquidators have reported that they are facing problems in e-filing of Income Tax Returns in compliance as they are required to mention… Read More

DIN now valid for LLPs

CLR Note: DPIN continues to remain active for the Designated Partners of a LLP only in case where they have the DPIN alloted. DPIN will stand cancelled only in case where they have both DIN and DPIN respectively. GOI; MCA; Dated 15th July, 2011 In exercise of the powers conferred by sub- section (1) and (2) of section 79 of the Limited Liability… Read More

Companies eligible for shifting from Trade for Trade Settlement (TFTS)to normal Rolling Settlement- SEBI

CIRCULAR/MRD/DP/ 09 /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 thecompanies listed in Annexure ˜A™ have established connectivity with both… Read More

SEBI Master Circular for Mutual Funds

Deputy General Manager Investment Management Department SEBI/IMD/MC No.2/836/2011 January 07, 2011 All Mutual Funds,Asset Management Companies (AMCs) and Association of Mutual Funds in India (AMFI) Dear Sir/ Madam, Sub: Master Circular for Mutual Funds For effective regulation of… Read More

Companies eligible for shifting from Trade for Trade Settlement to normal Rolling Settlement

CIR/MRD/DP/ 09 /2011 July 01, 2011 All Stock Exchanges 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 A have established connectivity with both… Read More

BSE issues norms for Direct Listing

BSE has came up with new guidelines for direct listing w.e.f 1st July, 2011 NORMS FOR DIRECT LISTING (EFFECTIVE FROM JULY 1, 2011) The companies which are listed on recognized stock exchanges and seeking listing on Bombay Stock Exchange Limited will be required to comply with the norms as given here under: Particulars 1 Issued… Read More

BSE’s Revised Suspension Revocation Norms- Extension of Date

Bombay Stock Exchange (BSE), vide its earlier Communication revised the Norms for "Revocation of Suspension" and the same were to be effective from 1st July 2011. Now, vide its Communication dated 29th June 2011, it has extended the date for implementation of the revised norms from 1st July 2011 to 1st October 2011. For a… Read More

Review of Internet Based Trading and Securities trading using Wireless Technology

CIR/MRD/DP/ 8 /2011 June 30, 2011 All Stock Exchanges Sub: Review of Internet Based Trading (IBT) and Securities trading using Wireless Technology (STWT) 1. Further to the SEBI circular no SMDRP/POLICY/CIR-06/2000 dated January 31, 2000 on Internet Based Trading and SEBI circular no CIR/MRD/DP/25/2010 dated August 27, 2010 on Securities Trading using Wireless Technology, it… Read More

Video conference mandatory for AGM from next fiscal – MCA

The Ministry of Corporate Affairs on Thursday said it would be mandatory for listed companies to provide the option of video conferencing for shareholders to participate in the annual general meeting from next fiscal. In respect of shareholders' meetings to be held during 2011-12, the video conferencing facility for shareholders is optional. Thereafter, it is… Read More

How to make payment in MCA through NEFT

User Guide on Paying MCA21 Fees Via NEFT Introduction: Currently MCA21 payments are allowed via Credit Card, Internet Banking & Physical Challan. The Ministry has authorized 5 banks (Indian Bank, HDFC, ICICI, PNB and SBI) for collection of MCA21 fees, which means that only the account holders of these banks can avail Internet banking facility. Further, payment via… Read More

Types of frauds by promoters or companies

Methods or types of frauds by promoters or companies: During the course of investigation by SFIO over the years, different types of frauds/fraudulent activities have been unearthed. Some of the types of frauds are illustrated below: (a) Project Financing: In one of the cases investigated by SFIO, it was noticed that an Indian company imported second hand plant and machinery… Read More

Abnormal figures of Shareholders in Annual Returns of some listed Companies

Ministry of Corporate Affairs (MCA) has observed that some listed companies have shown abnormal figure of their shareholders in their Annual Return (e-form no. 20B) filed with the Registrar of Companies. It appears that the signatories of e-form 20B of above companies including certifying practicing professionals have not verified the figures of number of shareholders… Read More

XBRL Reporting in MCA by 15th July

MCA website is likely to have options for XBRL reporting by 15th of July. Specific notification will be made to enable stakeholders for early filing. Pursuant to recent notifications on XBRL, Companies with paid up capital of Rs. 5 crores or turnover of Rs. 100 crores are required to comply with XBRL reporting norms for… Read More