Company Law - Corporate Law Reporter

MCA clarification on Certification of E- forms under the Companies Act by the practicing professionals

Corrigendum to Circular no. 14/2011 dated 8th April,2011 GOI, Ministry of Corporate Affairs All Regional Directors; All Registrar of Companies Subject: Certification of E- forms under the Companies Act, 1956 by the practicing professionals The undersigned is to draw the attention on the Circular no. 14/2011 dated 8.4.2011 of this Ministry on this subject cited… Read More

Need for a Checklist for Directors’s Job Profile

Ahead of the new Companies Act, a seminar on ' Strategies of protecting Directors' had been initiated by CII in association with Raheja QBE Genral Insurance Company Ltd. and WIRC of ICAI to focus on having a checklist for professional directors which will be used as a standard yardstick by directors of various companies as the Companies Act is touted… Read More

SEBI plans to have a Call Centre for handling Investor Complaints

Market regulator Sebi, which receives well over 100 investor complaints a day, plans to initially have about 10 agents at its proposed call centre to be managed by an outside agency to redress such grievances. "It is estimated that the helpline services would require 10 persons initially to provide the nation wide helpline service to… Read More

SEBI – Adjustment of differential pricing amount at the time of application for allotment of specified securities

SEBI CIRCULAR CIR/CFD/DIL/2/2011 May 16, 2011 CLR Note: The Securities and Exchange Board of India now offers its investors to take up shares at the differential pricing which would enable them to acquire more number of shares with the same money flow at the time of application itself. Sub.: Adjustment of differential pricing amount at the… Read More

Loan to Public Companies Under Section 295 of the Companies Act, 1956 Clarification

CLR Note: The circular regarding Loan to Public Limited Companies under Section 295 has been issued by the MCA to avoid unnecessary applications being filed by Companies for approvals even when the Act does not require approval. This circular seeks to clarify the position. Relevant extracts of Section 295 are also reproduced below for cross… Read More

Stakeholders invited for Compliance of provisions of the Companies Act, 1956

F.No. 17/146/2011-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan Dr. R.P. Road, New Delhi-110001 Dated 12.05.2011 To All the Regional Directors, All the Registrar of Companies/ Official Liquidators The Stakeholder Sub: Compliance of provisions of the Companies Act, 1956 and Rules madethereunder. Sir, In order to ensure compliance of the provisions of the Companies… Read More

Self Clearing Member in the Currency Derivatives Segment

CIRCULAR CIR/DNPD/ 4 /2011 May 13, 2011 Recognized Stock Exchanges and their Clearing Corporations / Clearing Houses Dear Sir, Sub: Self Clearing Member in the Currency Derivatives Segment 1. With regard to the newly created category of self clearing member, in the currency derivatives segment of a Stock Exchange, communicated vide notification no. LADNRO/GN/2011-12/01/11486 dated April 6, 2011,… Read More

SEBI -CHANGE IN CONDITIONS OF REGISTRATION OF CERTAIN INTERMEDIARIES) (AMENDMENT) REGULATIONS, 2011

THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, APRIL 19, 2011 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 13th April, 2011 SECURITIES AND EXCHANGE BOARD OF INDIA (CHANGE IN CONDITIONS OF REGISTRATION OF CERTAIN INTERMEDIARIES) (AMENDMENT) REGULATIONS, 2011 No. LAD/NRO/GN/2011-12/03/12650. - In exercise of the powers conferred by section 30 of… Read More

Dealing between Client and Stock Broker – SEBI Clarification

CIRCULAR SEBI/ MIRSD /Cir/ 01/ 2011 May 13, 2011 The Managing Directors/Chief Executive Officers/ Executive Directors/Officiating Executive Directors of all the Recognized Stock Exchanges Dear Sir/Madam, Sub: Clarification on circular dated December 3, 2009 on ˜Dealings between a Client and a Stock broker 1. This is with reference to SEBI circular No. MIRSD/SE/Cir-19/2009 dated December… Read More

Companies (Amendment) Regulations, 2011

GSR - (E):- In exercise of the powers conferred by sub-sections (1), (2),(5) and (8) of section 25 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following regulations further to amend the Companies Regulations, 1956, namely:- 1. (1) These regulations may be called the Companies (Amendment) Regulations, 2011 (2)… Read More

MCA: Companies (Accounting Standards) Amendment Rules, 2011

GOVERNMENT OF INDIA, MINISTRY OF CORPORATE AFFAIRS New Delhi, dated 11 May, 2011 G.S.R. (E).- In exercise of the powers conferred by clause (a) of sub-section (1) of Section 642 read with sub-section (1) of Section 21A and sub-section (3C) of Section 211 of the Companies Act, 1956 ( 1 of 1956), the Central Government… Read More

Murli Deora Stresses to expedite the Process of Liquidation Of Companies

Union Minister for Corporate Affairs Shri Murli Deora has desired that concerted action to be taken to expedite the process of liquidation of companies which is currently taking inordinately long. In the conference of Official Liquidators organised by the Ministry recently to discuss ways for expediting liquidation process the it was opined that one of… Read More

MCA issues Corrigendum to its circular on XBRL reporting

MCA issues corrigendum on filing of Balance Sheet and Profit & Loss Account in extensible Business Reporting Language (XBRL) mode The Ministry of Corporate Affairs has issued a corrigendum after noticing some errata on the circular issued on March 31st, 2011 regarding the filing of Balance Sheet and Profit & Loss Account in extensible Business… Read More