Company Law - Corporate Law Reporter

Department of Financial Services advises all Banks to put restrictions on bank accounts of “Struck Off ” Companies

Department of Financial Services advises all Banks to take immediate steps to put restrictions on bank accounts of over two lakh 'struck off' companies Government has stepped up decisive action against companies falling within the ambit of Section 248 of the Companies Act. The names of 2,09,032 companies have been struck off from the Register… Read More

Stricter Norms for Corporate Governance: Disqualification of Directors in case of siphoning money from “Struck off” Company

Stricter Norms for Corporate Governance: Punishment for Siphoning off Money from Bank Accounts of “Struck Off” Companies; Disqualification of Directors from Being Appointed or Reappointed in Companies MoS (CA) Shri P P Chaudhary: Exercise of Weeding Out Shell Companies Would not Only Help in Checking the Menace of Black Money But Would Also Promote Ease of… Read More

MCA designates special court in Bihar for trial of offences with 2 or more years imprisonment

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 31st August, 2017 S.O. 2872(E).—In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government, with the concurrence of the Chief Justice of the High Court of Judicature at Patna, hereby designates the following Court… Read More

M&A of banking companies exempted from Section 5 and 6 of Competition Act

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th August, 2017 S.O. 2828(E).—In exercise of the powers conferred by clause (a) of Section 54 of the Competition Act, 2002 (12 of 2003), the Central Government in the public interest hereby exempts, all cases of reconstitution, transfer of the whole or any part thereof and amalgamation… Read More

ICSI releases revised Secretarial Standards 1 and 2

Revised Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) (Revised by the Institute of Company Secretaries of India (ICSI) and approved by the Central Government) Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) were approved by the Central Government under Section 118(10) of the… Read More

MCA notifies companies (Arrests in connection with Investigation by serious Fraud Investigation Office) Rules

[To be published in the Gazette of India, Extraordinary part II, Section 3, Sub-Section (i)] Government of India MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 24th August,2017 G.s.R.......(E).-In exercise of the powers conferred under sub-section (1) of section 469 read with section 212 of the companies Act, 2013 (18 of 2013), the central Government hereby… Read More

MCA notifies certain provisions of section 212 of the Companies Act, 2013

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 24th August, 2017 S.O. 2751(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 24th day of August, 2017 as the date on which the provisions of sub-sections (8), (9) and… Read More

MCA amends National Company Law Appellate Tribunal Rules

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 23rd August, 2017 G.S.R. 1061(E).—In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the National Company Law Appellate Tribunal Rules, 2016, namely:… Read More

Competition Commission of India amends Lesser Penalty Regulation

THE COMPETITION COMMISSION OF INDIA NOTIFICATION The Competition Commission of India (Lesser Penalty) Amendment Regulations, 2017 (No. 1 of 2017) New Delhi, the 8th August, 2017 No. L-3(4)/Reg-L.P./2017-18/CCI.—In exercise of the powers conferred by section 64, read with section 46 and clause (b) of section 27 of the Competition Act, 2002 (12 of 2003), the… Read More

ICSI withdraws Secretarial Standards- 1& 2 w.e.f 30th September, 2017

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA (Statutory Body under an Act of Parliament) NOTIFICATION New Delhi, the 16th August, 2017 F. No. ICSI/6/2017.—The Notification ICSI No.1 (SS) of 2015 dated 23rd April, 2015, published in the Gazette of India, Part III, Section 4, with regard to (i) SS-1: Secretarial Standard on Meetings of the… Read More

MCA invites comments on Draft Companies (Cost Records and Audit) Amendment Rules

Government of India Ministry of Corporate Affairs NOTICE INVITING COMMENTS ON THE DRAFT COMPANIES (COST RECORDS AND AUDIT) AMENDMENT RULES, 2017 Dated: 11th August, 2017 Pursuant to implementation of IndAS, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to bring parity between financial records and cost records. Accordingly, the Draft Companies… Read More

Govt. exempts Regional Rural Banks from M&A purview under Competition Act

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 10th August, 2017 S.O. 2561(E).—In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the Regional Rural Banks in respect of which the Central Government has issued a notification… Read More

Amendment to Company Incorporation Rules: Shifting of registered office

SHIFTING OF REGISTERED OFFICE OF COMPANY Ministry of Corporate Affairs has issued the notification to further amend the Companies (incorporation) Rules, 2014 (hereinafter referred to as the principal rules) namely: the Companies (incorporation) Second Amendment Rules, 2017. They shall come into force on the date of their publication in the official gazette http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationSecondAmendmentRules2017.pdf RULE 28: Shifting… Read More