Company Law - Corporate Law Reporter

Company Law Settlement Scheme, 2014 extended upto 15th November, 2014

The Ministry of Corporate Affairs has issued a circular no. 40/2014 dated 15th October, 2014 and has extended the due date of filing of annual returns and accounts under the Company Law Settlement Scheme, 2014 upto 15th November, 2014 which was originally decided by the ministry till 15th October, 2014. Now, the companies who are… Read More

DLF’s Top Management betrayed the investors faces ban for 3 years by SEBI

A big shocking scam has taken place at the time of Equity Offers of the Real Estate giant DLF because of which the stock market regulator SEBI had banned the top management of DLF Limited for 3 complete years for not making the adequate disclosures at the time of the offer for shares of the… Read More

SEBI (Stock Brokers & Sub-Brokers) Amendment Regulations, 2014

The Securities and Exchange Board of India has issued SEBI (Stock Brokers & Sub-Brokers) Amendment Regulations, 2014 dated 8th October, 2014 and has made the following amendments: 1. In regulation 3, Sub-regulation(1): No person shall act as stock broker unless he gets himself registered with SEBI. Further if the clearing member is already registered with the… Read More

SEBI most likely to come out next month with new ‘Listing & Delisting Guidelines’

The Securities and Exchange Board of India is working out on the new norms for the listing & delisting guidelines which are more likely to be rolled out the next month as per the certain observations made by the body on trading activity taking place in the market. The body also expresses that in some… Read More

APPOINTMENT OF STATUTORY AUDITORS AND THEIR SERVICES UNDER THE COMPANIES ACT, 2013

SECTION 139, 141,142, and 144 of the Companies Act, 2013 and the Companies (Audit and Auditors ) Rules, 2014 deal with appointment of Auditors, the criteria to become Auditors and payment of their remuneration etc. The new Act has not simplified the process. It is for us to understand the complexities involved and to a possible extent… Read More

Version of certain MCA e-forms changed w.e.f 1st October, 2014

The Ministry of corporate affairs has issued a general notice informing all the stakeholders that version of certain e- forms have changed w.e.f 1st October, 2014. The forms are as follows: 1. DIR 6 2. ADT 3 3. MGT 10 4. 17 LLP 5. DPT 4 6. DIR 12 All the stakeholders are requested to… Read More

SEBI Modified Investor Protection / Customer Protection Fund Guidelines

The Securities and Exchange Board of India has issued a circular dated 29th September, 2014 in continuation and in respect of the circulars issued on 16th June, 2011 w.r.t. guidelines for Investor Protection and Customer Protection Fund. In the light of the above the SEBI has received various representations from the stock exchanges and it… Read More

Ministry of Corporate Affairs asks companies to make filings well in time

The Ministry of Corporate Affairs has issued a General Notice asking the stakeholders to avoid congestion w.r.t. Annual e-filings and to make filings on time. The move also comes against the backdrop of the Ministry launching the Company Law Settlement Scheme that provides immunity for thousands of entities that have defaulted on making statutory filings.… Read More

Companies (Appointment & Qualification of Directors) Amendment Rules, 2014

The Ministry of Corporate Affairs has issued a notification w.r.t. Companies (Appointment & Qualification of Directors) Amendment Rules, 2014 dated 18th September, 2014. The effect of the amendment made in Companies (Appointment & Qualification of Directors) Rules, 2014 are as follows: 1. In sub-rule (2) of rule 6 of Companies (Appointment & Qualification of Directors)… Read More

National Advisory Committee on Accounting Standards under CA 1956 to rule till the formulation of National Financial Reporting Authority under CA 2013

The Ministry of Corporate Affairs has notified the constitution of the members of the National Advisory Committee on Accounting Standards (NACAS) and has also declared names of the members as specified in the notification attached below that these members shall play a pivotal role to advise the Central Government in the implementation and formulation of… Read More

Clarification with regard to provisions of Section 135 under CA 2013 w.r.t Corporate Social Responsibility

The Ministry of Corporate Affairs has issued a Circular No. 36/2014 dated 17.09.2014 making reference to the rules dated 12.09.2014 with regard to the Companies (Corporate Social Responsibility) Amendment Rules, 2014 to provide clarification with respect to the provisions of Corporate Social Responsibility and the amendment can be highlighted as follows. 1. The provisions contained… Read More

Version of certain e-forms under CA 2013 changed w.e.f. 21st September, 2014

The Ministry of Corporate Affairs has issued general notice to all the stakeholders thereby informing the change in the version of certain e-forms under the Companies Act, 2013. The list of the forms is as follows: 1. DIR-3 2. DIR-6 3. INC-27 4. DPT-4 5. MGT-10 6. ADT-3 7. DIR-3C Hence, all the stakeholders are… Read More

Modi Government plans to penalise CSR defaulters under Companies Act, 2013

The Modi Government has drafted plans to penalise the Companies under the provisions of Section 135 (Corporate Social Responsibility) of the Companies Act, 2013 as now it will be very difficult for the companies to get away from not spending the mandatory 2% of their profits on Corporate Social Responsibility(CSR) as specified by law .… Read More