Company Law - Corporate Law Reporter

Companies (Meetings of Board and its powers) Second Amendment Rules, 2014

The Ministry of Corporate Affairs has issued a notification with respect to the Companies (Meetings of Board and its powers) Second Amendment Rules, 2014 dated 14.08.2014 bringing out clarification for various issues which have caused a sense of dilemma to all the stakeholders. The amendments are contained herein below: In Rule 3 sub - rule… Read More

Parliament passes Securities Laws (Amendment) Bill, 2014 give more powers to SEBI

Rajya Sabha on Tuesday passed the Securities Laws (Amendment) Bill, 2014 which seeks to empower Securities and Exchange Board of India and facilitate a crackdown on Ponzi schemes which are used to fleece the poor. The bill which gives the Securities and Exchange Board of India (Sebi) the power to search premises, effect seizures and access call data… Read More

Version of certain e-Forms to change w.e.f 15th August, 2014

The Ministry of Corporate Affairs has issued a General Notice stating that the version of the following e-Forms shall be changed w.e.f 15th August, 2014: 1. CHG-9 2. INC-7 3. INC-1 4. MR-1 The general public is hereby informed that the latest version date can be seen in the forms tab at the Ministry's website… Read More

One Time Opportunity Company Law Settlement Scheme, 2014

The Ministry of Corporate Affairs has issued circular no. 34/2014 dated 12th August, 2014 providing one time opportunity by introducing the Company Law Settlement Scheme, 2014 in order to provide the facility to the corporate to file the Annual Returns and Annual Financial Statements as it was observed that a large number of companies have… Read More

Version of e-forms CHG-9,INC-1 and MR-1 to change w.e.f 14th August 2014

The Ministry of Corporate Affairs has issued a notice to state that version of certain e-forms CHG-9,MR-1 and INC-1 is likely to change with effect from 14th August, 2014. The dates have been specifically mentioned for every form with respect to the date of latest updated version. So, the stakeholders are requested to plan their… Read More

High returns in less time may lead to big troubles says SEBI

Capital markets regulator Sebi has launched an all-out mass media campaign to make the public aware about troubles of investing on hearsay and in pursuit of high returns in less time. Using various media including TV, radio and print, the Securities and Exchange Board of India is specially targeting the collective investment schemes (CIS) wherein investors are promised doubling… Read More

Amendment notification w.r.t. Schedule VII under CA 2013

The Ministry of Corporate Affairs issued a notification dated 6.08.2014 with respect to amendment in Schedule VII under the CA 2013 with respect to section 135 of the act which contains the provisions of Corporate Social Responsibility. The Schedule VII under the act contains the terms of reference for devising the policy and the charter… Read More

Version of certain e-Forms changed w.e.f 2nd August, 2014

The Ministry of Corporate Affairs issued a general notice to draw the attention of all the stakeholders as version of certain e-Forms i.e.INC-1, INC-2, INC-7, CHG-1,CHG-9 and FC-3 has changed with effect from 2nd August, 2014. So, a request is made to all the stakeholders to plan accordingly while filing such e-forms in order to… Read More

Clarification of the provisions w.r.t Appointment of Auditor by C & AG under CA 2013

The Ministry of corporate affairs issued a circular no. 33/2014 dated 31.07.2014 in order to provide clarification in respect of the representations received for the appointment of auditors by Comptroller and Auditor General of India for the deemed Government Companies as previously contained in Section 619B of the Companies Act, 1956 i.e. companies where the… Read More

Big relief for Companies as maintaining Registers and Records under CA 2013 in electronic form made optional

The Ministry of Corporate Affairs issued Companies (Management and Administration) Second Amendment Rules, 2014 dated 24.07.2014 giving a sense of big relief to the companies w.r.t. Compulsory maintenance of registers and records in electronic form under Companies Act, 2013 as it was probing as an obstacle for the companies because of lack of clarity on… Read More

CSR spending details to be available from September 2015

Details about companies' social welfare spending activities under CSR norms would be available to the government only after September next year. This was informed by Corporate Affairs Minister Arun Jaitley while replying in the House to queries on CSR. Under the new Companies Act, certain class of entities are required to shell out at least two per cent of their… Read More

Companies (Management and Administration) Second Amendment Rules, 2014

The Ministry of Corporate Affairs has issued the Companies (Management and Administration) Second Amendment Rules, 2014 dated 24.07.2014 in order to insert certain other provisions in respect of the rules specified therein. 1. The sub- rule 3 of rule 9 of the said rules which talks about the Declaration of Beneficial Interest, the following proviso… Read More

Clarification notification on Section 203(1) under CA 2013

The Ministry of Corporate Affairs has issued a clarification notification S.O.(E) dated 25.07.2014 with respect to provide clarification in second proviso to sub-section (1) of section 203 of the Companies Act, 2013 which talks about the classes of companies which have appointed one or more chief executive officer as Key Managerial Personnel for multiple business… Read More