Exemption u/s 211 for reduced disclosures to certain class of Companies
NOTIFICATION NO. SO 301(E), DATED 8-2-2011 The below notification seeks to exempt Companies engaged in Defence equipments, EOU's, Shipping companies, Airlines, Hotels ( including Restaurants), manufacturing companies and trading companies from the disclosure requirements specified in para II of Schedule VI. This notification has been issued to reduce the number of applications filed by such companies to… Read More
Exemption u/s 211 to Public Financial Institutions for reduced disclosures
NOTIFICATION NO. SO 300(E), DATED 8-2-2011 In exercise of the powers conferred by sub-section (3) of section 211 of the Companies Act, 1956 (1 of 1956), the Central Government, being of the opinion that it is necessary to grant exemption in the public interest, hereby exempts Public Financial Institutions as specified under section 4A of… Read More
National Advisory Committee on Accounting Standards constituted
Notification No. S.O. 107(E). dated 19th Jan, 2011 In exercise of the powers conferred under sub-section (1) oof section 210 A of the Companies Act, 1956, the Central Government has constituted an Advisory Committee to be called National Advisory Committee on Accounting Standards consisting of eminent persons from the government bodies and professional institutes and… Read More
Notification and FAQs for XBRL reporting format for annual filing
Ministry of Corporate Affairs has mandated the XBRL based filing of Balance Sheet and Profit & Loss Account for FY 2010-11 for :- (i) All companies listed in India & their subsidiaries in India and abroad; & (ii)All companies having a Paid up Capital of Rs. 5 Crores & more or a Turnover of Rs.… Read More
Form 61 expanded in scope
The Central Government vide Notification dated March 26, 2011 has amended Annexure A to the Companies (Central Government™s) General Rules and Forms, 1956 in Form 61, for serial number 6and the entries relating thereto. The following serial number and entries shall be substituted namely :- 6. Application filed for: ¢ Compounding of offences; ¢ Extension… Read More
Revision of Powers delegated to Registrar of Companies (ROC)
MCA has issued a notification in supersession of the 1985 notification regarding delegation of powers to the ROC Section 21 - Change of name of the Company Section 25 - Incorporation of Non Profit Companies Proviso to Sub-section (1) of section 31 - Approval of alteration of articles of association Sub-section (1D) of section 108… Read More
Powers of Central Government delegated to Regional Director revised
Notification G.S.R.259(E) The Ministry of Corporate Affairs has revised the powers delegated to Regional director by superseding the 20 year old notification of 1991. As per the notification issued on 17th March, 2011, the Regional Director has power to attend to matters as outlined in 12 sections as mentioned below: Section 22 - Rectification of name of the company Sub-sections… Read More
Payments in MCA for Over Rs. 50,000 also to be in electronic mode
The Ministry of Corporate Affairs has vide its Circular No. HQ/9/2002-Computerization dated 9th March, 2011 decided to accept payments of value upto Rs.50,000, for MCA 21 services, only in electronic mode w.e.f 27th March, 2011. For the payments of value above Rs. 50,000, stakeholders would have the option to either make the payment in electronic… Read More
Companies Bill seeks to put limit on number of subsidiaries
The draft Companies Bill seeks discretionary powers for the government to stop a company from setting up multiple subsidiaries if it is found abusing this right. Presently, Companies can establish any no. of subsidiaries, which could in turn set-up their own subsidiaries, and so on. The ministry of corporate affairs (MCA) is of the view that… Read More
Corporate Governance Voluntary Guidelines
CS Alka Kapoor & CS Banu Dandona Good corporate governance practices are a sine qua non for sustainable business that aims at generating long term value to all its shareholders and other stakeholders. -Mr. Salman Khurshid, Hon™ble Minister of Corporate Affairs Adoption of best governance practices is imperative in today™s global environment. A well governed company has an… Read More
Stamp duty rates for Form 1, Form 5 and Form 44
State wise stamp duty rules for eForm 1, Memorandum of Association (MoA), Articles ofAssociations (AoA), eForm 5 and eForm 44) stamp duty rates schedule Read More
Easy Exit scheme extended till 30th April, 2011
Download Notifications Easy Exit scheme circular Read More
Companies – Issue of Share Certificate Rules 1960
Companies - Issue of Share Certificate Rules 1960 Read More
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