Company Law - Corporate Law Reporter

Govt. designates officials for filing complaint against person holding more than one DIN

The Ministry of Corporate Affairs has issued a general notification dated 9th January , 2015 in pursuance of sub-section (2) of section 439 of the Companies Act, 2013 (18 of 2013), the Central Government hereby authorises the following officers in the office of Regional Director (Northern Region) at Noida for the purposes of filing complaint… Read More

Companies (Cost Records and Audit) Amendment Rules, 2014

The Ministry of Corporate Affairs has issued a notification for the much awaited Companies (Cost Records and Audit) Amendment Rules, 2014 in order to insert and substitute some of the provisions contained in the Companies (Cost Records and Audit) Rules, 2014. The amendments made in the rules are as follows: 1. In Companies (Cost Records… Read More

Inter-Corporate Loans and Investments post CA 2013

Investment refers to an asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset… Read More

Scope of Secretarial Audit under section 204 of the Companies Act, 2013

Message from the President ICSI on Secretarial Audits Section 204 requires every listed company and a company belonging to other class of companies as may be prescribed to 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… Read More

Companies ( Amendment) Bill, 2014 to be placed in Lok Sabha

A phenomenal move has taken place as the Union cabinet to place the Companies (Amendment) Bill, 2014 in the Lok Sabha for discussion. Attached is the copy of the Bill to be presented in the Lok Sabha which can be accessed below. Companies (Amendment) Bill, 2014 Read More

Companies (Amendment) Bill, 2014 placed in the Parliament to give effect to important amendments to be made under Companies Act, 2013

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi approved the introduction of Companies (Amendment )Bill, 2014 in the Parliament to make certain amendments in the Companies Act, 2013. The Companies Act, 2013(Act) was notified on 28.08.2013 and of the 470 sections in the Act, 283 sections and 22 set of rules corresponding… Read More

SEBI to take strict charge of inflows from loosely regulated offshore foreign entities

As the markets are touching new highs, Sebi is all set to take charge of the inflows form the loosely regulated foreign entities particularly of those which are in gulf. The situation would now turn difficult for the foreign offshore entities which make investments on behalf of the unknown foreign investors as the filed would… Read More

SEBI to make Initial Public Offer (IPO) process easier for companies

The market regulator Securities and Exchange Board of India is proposing to reduce the time taken for the initial public offer (IPO) process easier to 6-7 days from about 12-13 days now and further make capital raising easier for the companies. The SEBI Board at its latest meeting held on 19th November, 2014 discussed and… Read More

Company Secretary to mandatorily act as Compliance officer in Listed Entities: SEBI

Market regulator SEBI has mandated the appointment of Company Secretary as compliance officer for the purpose of the newly-framed listing regulations. This is a welcome move by SEBI as it will strengthen the compliance ecosystem in listed companies, SNAnanthasubramannian, former President of the Company Secretaries Institute, said. Besides fixing responsibility of compliance of listing regulations… Read More

SEBI withdraws recognition granted to Delhi Stock Exchange (DSE)

The Securities and Exchange Board of India has withdrawn the recognition of watchdog from the Delhi Stock Exchange. The capital market watchdog has also observed that activities of DSE were "carried out in a manner contrary to the interest of the investors." Henceforth, hereby withdraw the recognition granted to Delhi Stock Exchange." Further, DSE acted… Read More

Date of holding AGM under CA 2013 for co.’s registered in the State of J&K deferred till 31st December, 2014

The Ministry of Corporate Affairs has issued a General Circular No. 45 dated 18th November, 2014, to provide extension of the date for holding Annual General Meeting (AGM) in terms of Section 96 of the Companies Act, 2013 in the State of Jammu & Kashmir. As there occurred huge devastation because of floods, because of… Read More

Clarification on applicability of Chapter III of CA 2013 on issue of FCCB’s and FCB’s

The Ministry of Corporate Affairs has issued a General Circular No. 43/2014 w.r.t the clarification on applicability of Chapter III with reference to the Prospectus and Allotment of Securities under the Companies Act, 2013 on issue of Foreign Currency Convertible Bonds (FCCB's)the matters and Foreign Currency Bonds (FCB's) by the India Companies to persons resident… Read More

CLSS, 2014 deferred till 31st December, 2014

The Ministry of Corporate Affairs has issued General Circular No. 44/ 2014 dated 14th, November 2014 in continuation of the the circular no. 34/2014 dated 12thAugust, 2014 and 40/2014 dated 15th October, 2014and has deferred the Company Law Settlement Scheme., 2014 to 31st December, 2014. Hence, all the stakeholders are requested to plan accordingly and… Read More