ICAI e Journal March, 2011
Download the eJournal from Institute of Chartered Accountants of India for March, 2011 ICAI e Journal - March-2011 Read More
Allotment of DIN Process Simplified
Company Law : Section 266B of the Companies Act, 1956 - Director Identification Number The MCA vide Notification dated March 26, 2011 has issued the Companies (Director IdentificationNumber) Amendment Rules, 2011 (Rules) whereby the process for obtaining a Director IdentificationNumber (DIN) has been simplified. In terms of the Rules all applications for DIN will be… Read More
Procedure for change in Registered Office
Stamp duty implications arising out of an issuance and transfer of debentures of an unlisted company
[2010] 98 CLA (Mag.) 5 Sidharrth Shankar ¢ Vatsal Gaur As part of any transaction involving issuance of debentures by a company, or transfer of debentures of a company, a crucial question which often arises is as to determination of the stamp duty payable on such issuance or transfer of debentures. The answer to this… Read More
Directors™ vicarious liability for dishonor of company cheque Landmark judgment of Supreme Court
[2010] 98 CLA (Mag.) 1 By Dr. K R Chandratre In this article Dr. K R Chandratre, Practising Company Secretary ; Past President, Institute of Company Secretaries of India, discusses standard penal provision which fastens vicarious liability on the directors of the company for offences committed by the company in the light of the landmark… Read More
Oppression/Mismanagement Matter following within the purview of MOU
Any issue relating to a matter which falls under the purview of the memorandum of understanding (˜MoU™) between the parties is not within the purview of the Company Law Board and cannot be entertained in a proceeding under section 397/398. Companies Act, 1956 Section 397/398 Oppression/Mismanagement Petition for relief against Issue relating to a matter… Read More
Default in filing Annual Return
Sections 159 and 168 Offence and prosecution Default in filing annual return Prosecution of director who resigned before default took place How far tenable Where the director resigned from his post, his resignation was accepted and was communicated to the Registrar of Companies prior to the default of non-filing annual return took place, he cannot… Read More
Restoration of defunct company
Section 560 Defunct company Restoration of Whether it is a mandatory requirement for the Registrar to send notice to the company before striking off name from register If the name of the company is struck off from the register of companies without notice under sub-section (6) of section 560, the Registrar of Companies is required… Read More
Securities trading using wireless technology
MRD/DP/25/2010 dated 27th August 2010 issued by the Securities and Exchange Board of India It has been decided that SEBI registered brokers who provide internet based trading including mobile phones and laptops with data cards, shall be eligible to provide securities trading using wireless technology. 1. It has been decided that SEBI registered brokers who… Read More
Review of norms for investment and disclosure by mutual funds in derivatives
Circular No. IMD/DF/11/2010 dated 18th August 2010 issued by the Securities and Exchange Board of India Mutual funds Investment in derivatives Review of norms for investment in derivatives by mutual funds and disclosures thereof to the investors. 1. Please refer to the Circular DNPD/CIR-29/2005 dated 14th September, 2005 {[2005] 68 CLA (St.) 75}, Circular MFD/CIR/9/120/2000… Read More
Easy Exit Scheme, 2010 Authorisation for entering details in Form EES 2010
General Circular No. 3/2010 dated 10th August 2010 issued by the Ministry Corporate Affairs EES, 2010 It has been decided that in the case of 100 per cent Government companies, if no Board is in existence, an officer not below the rank of Deputy Secretary of the concerned Administrative Ministry may be authorised to enter… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
