Company Law - Corporate Law Reporter

FAQ’s on Secretarial Audit under Companies Act, 2013

The provision of Secretarial Audit specifies that: Every listed company and a company belonging to other class of companies as may be prescribed shall annex with its Board's report made in terms of sub-section (3) of section 134, a secretarial audit report, given by a company secretary in practice, in such form as may be… Read More

Shifting of DSE Listed Companies on BSE™s Dissemination board

As you are all aware that Delhi Stock Exchange (DSE) has already been derecognised, vide SEBI Order dated 19th November 2014. SEBI has mandated that all companies exclusively listed on DSE, would be shifted to the Dissemination Board (DB) set up by BSE. BSE, vide its Circular dated 9th July 2015 has informed that 1,334… Read More

Extension of last date of in filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under the Companies Act, 2013

MCA has released circular no. 10/2015 dated 13/07/2015 w.r.t Relaxation of additional fees and extension of last date of in filing of the following forms: Annual Return - Form MGT-7: Original due date: 60 days from the date of AGM. Revised due date: 31st Oct, 2015 Financial Statement (Non XBRL) - Form AOC-4: Original due… Read More

Exchange Traded Mutual Fund houses expect EPFO entry to boost equity ETF space

Mutual fund houses are bullish about the phased entry of the EPFO into exchange traded equity funds from this month, as they believe it will boost investors sentiment. The Employees Provident Fund Organisation (EPFO), which is the second largest institutional investor into Indian equities after LIC, sits over around Rs 6.4 trillion funds contributed by… Read More

Sebi told to align related-party business norms with Companies Act

The corporate affairs ministry has asked the Securities and Exchange Board of India (Sebi) to align its guidelines for related party transactions with the amended Companies Act, which will significantly ease the very strict rules for listed companies. In the Companies Act 2013 through an amendment, allowing an ordinary resolution with over 50% approval from… Read More

Prior / advance adjournment motion for seeking adjournment of any hearing

CLB has issued instruction to all the Learned Counsels who are appearing on behalf of their clients to file prior / advance adjournment motion for seeking adjournment of any hearing. It has been found that the Learned Counsels are seeking adjournment at the time of hearing itself. All Learned Counsels shall circulate adjournment motion atleast one… Read More

Sebi asks govt to appoint women directors on PSU boards

In order to ensure parity between listed PSUs and their private sector peers, SEBI has asked the Government to fill all vacancies for women and Independent Directors at the Central Public Sector Enterprises (CPSEs). All listed companies, whether PSUs or from the private sector, are required to have at least one woman Director on their Board.… Read More

Explanation on charging depreciation for extra shift under CA 2013

There are various views are possible for determining remaining useful life on transition from Schedule XIV to Schedule II if an asset has been used on double/ triple shift basis in past years. For example, in the case of plant above, one view is that the asset has remaining Schedule II life of 12 years, i.e., 15 years 3… Read More

Information on sexual harassment to be mandatorily disclosed by Pvt. companies under CA 2013

Under the Companies Act, the government has set off the process necessary for the private companies. "In order to ensure that private sector companies also constitute ICC as mandated under Sexual Harassment at Workplace (Prevention, Prohibition and Redressal) Act 2013, it will be appropriate to ask the companies to disclose the constitution of the IIC… Read More

Sebi jurisdiction upheld by SC in offshore markets with regard to GDRS by firms

After the order of Supreme Court Market regulator Sebi received a shot in the arm on Monday to regulate the creation and issuance of Global Depository Receipts by companies in the offshore markets. It take action against the companies for manipulation in global securities.It rejected the Securities Appellate Tribunal™s (SAT) majority decision of September 30, 2013,… Read More

Version of Forms DPT-3, 4LLP, CRA-2, MSC-3 and FC-1 modified w.e.f 7th July 2015.

The Ministry of Corporate Affairs has issued a General Notice stating the modification of version of Forms DPT-3, 4LLP, CRA-2, MSC-3 and FC-1 with effect from 7th July, 2015. So, all the stakeholders are requested to plan their filings in the above forms by downloading the current versions available in the forms tab of the… Read More

SEBI to catch hold of money launder activities and tax evasion by making use of SME as a base

MUMBAI: Capital market regulator Sebi is investigating a string of trades in stocks of small and medium enterprises (SME) and derivatives like currency options carried out to launder money and escape tax. Persons with unaccounted cash are suspected to have misused the SME trading platform of exchanges to show the money as legitimate trading income.… Read More

SEBI specifies additional disclosure requirement by Cos under ‘Share based employee benefits’ norms

1. This has reference to the SEBI (Share Based Employee Benefits) Regulations, 2014 ("the Regulations") notified on October 28, 2014. The Regulations provide for certain processes/disclosure requirements to be specified by SEBI. Accordingly, necessary guidelines are being issued and given in the Annexure to this circular. 2. The stock exchanges are advised to bring the… Read More