Company Law - Corporate Law Reporter

Due Date of filing of Form CRA-2 for Appointment of Cost Auditor deferred till 31st January, 2015

The Ministry of Corporate Affairs has issued a General Circular No. 42/2014 dated 12th November, 2014 to clarify the issues with respect to the matters relating to the Companies (Cost Record and Audit) Rules, 2014. In terms of the Rule 5(1) and 6(2) of the Companies (Cost Record and Audit) Rules, 2014 regarding maintenance of… Read More

Company Law Board(Fees on Applications and Petitions) Amendment rules, 2014

The Ministry of Corporate Affairs has issued a notification dated 3rd November, 2014 with respect to the Company Law Board(Fees on Applications and Petitions) Amendment Rules, 2014 and in the said schedule of the fees the following points shall be inserted after point no. 33: 34: 2(41) of the Companies Act, 2013; Allowing any period… Read More

SEBI to introduce new insider trading and listing & delisting norms in the next week

The Securities and Exchange Board of India (SEBI) have made a lot of efforts to make the listed entities more responsible towards the investors and for which the regulator may announce the new insider trading norms in the next week and also will introduce the new listing & delisting regulations. The rectifications are made in… Read More

SEBI pressurizes Sahara group to sell off hotels abroad

The Securities and Exchange Board of India (SEBI) has accused Sahara for deliberately not selling off the hotels located abroad to comply with the order of SEBI to repay the investors of Sahara. The Supreme Court of India has asked Sahara to repay the money to the investors and the regulator had filed a petition… Read More

Companies with Woman Directors on Board mint more money

The Companies with Woman Directors on their Boards are strengthening in terms of monetary value than those with no women directors on the board. This is not because it is good for your public image and not only because you have to meet government norms rather because it makes good business sense and Boards with… Read More

Spending on CSR mandatory for all public sector companies

In the recent revised guidelines, made by the Department of Public Enterprises the government has made it mandatory for all profit-making central public sector companies to spend money on CSR activities. Besides, these enterprises cannot include money spent on sustainable development efforts under the Corporate Social Responsibility (CSR) scope. The Department of Public Enterprises (DPE)… Read More

Amendment to Schedule VII i.e. CSR under the CA 2013

The Ministry of Corporate Affairs has amended the Schedule VII of CSR vide a general notification dated 24th October, 2014 informing the stakeholders to increase the scope of activities for spendings as a part of CSR which are as follows: 1. In item no. (i) after the words ' and sanitation' the words contribution made… Read More

DLF moves Tribunal against SEBI order

The real estate giant DLF had moved to the Securities Appellate Tribunal against the order of the Securities and Exchange Board of India (SEBI) which had barred the top executives of the company including the chairman from dealing into securities in the market and raising money from the public for three complete years. The order… Read More

Right of persons other than retiring directors to stand for directorship – Refund of deposit under section 160 of the Companies Act, 2013 in certain cases

The Ministry of Corporate Affairs has issued a Circular No. 38/ 2014 providing clarification in regard of the Section 8 Companies w.r.t. to the Section 160 of the Companies Act, 2013 which contains the provisions of the Rights of the Persons other than retiring directors to stand for the Directorships. Clarity has been sought by… Read More

Clarification on the matters related to Consolidated Financial Statements (CFS)

The Ministry of Corporate Affairs has issued a Circular No. 39/2014 dated 14th October, 2014 w.r.t to provide clarification on the matters relating to Consolidated Financial Statements. The same has been raised out through representations by the stakeholders seeking clarification on the manner of presentation of notes in Consolidated Financial Statements to be prepared under… Read More

Companies (Accounts) Amendment Rules, 2014

The Ministry of Corporate Affairs has issued a notification w.r.t Companies (Accounts) Rules, 2014 dated 14th October, 2014 and has clarified the same in regard with Rule 6 of Companies (Accounts) Rules, 2014 which contains the provisions for manner of consolidation of accounts, the following provisos shall be inserted: Rule 6: The consolidation of financial… Read More

Companies (Audit and Auditors) Amendment Rules, 2014

The Ministry of Corporate Affairs has issued a notification w.r.t amendment in Companies (Audit and Auditors) Rules, 2014 and the amendment can be explained as follows: In Companies (Audit and Auditors) Rules, 2014 after Rule 10 which contains the provisions w.r.t the Disqualification of Auditors, Rule 10A shall be inserted which says that for the… Read More

Company Law Settlement Scheme, 2014- Clarification w.r.t Section 164(2) of the Companies Act, 2013

The Ministry of Corporate Affairs has issued a General Circular No. 41/2014 with respect to provide clarification on Section 164(2) in reference to the provisions of disqualification of Director with regard to the non-filing of the Annual Financial Statements and Returns under the CLSS, 2014 which now has been extended form 15th October, 2014 to… Read More