Company Law - Corporate Law Reporter

Companies (Removal of Difficulties) Sixth Order, 2014 w.r.t. ‘related party’

The Ministry of Corporate Affairs issued Companies (Removal of Difficulties) Sixth Order, 2014 dated 24.07.2014 in order to provide clarification with respect to the "related party" as the difficulties have arisen due to he absence of the word 'relative' in the sub-clause (iv) in the said definition although such word has occurred in sub-clauses (i),… Read More

Clarification on transitional period for resolutions passed under CA 2013

The Ministry of Corporate Affairs has issued a circular no. 32/2014, dated 23.07.2014 with respect to provide clarification on the transitional period of the resolutions passed under CA 2013, which says that many companies have passed the resolutions which were at different stages of implementation after coming into force of the Companies Act, 2013 (New… Read More

Version of certain e-Forms likely to change from 25th July 2014

The Ministry of Corporate Affairs has issued a notice drawing attention of the general public that the versions of the following e-Forms is likely to change from 25.07.2014 which are as follows: (1). CHG - 1 (2).CHG - 4 (3). FC - 2 (4). FC - 4 (5). Form 20B (6). Form 2LLP (7). Form… Read More

Extension of validity of reserved names

The Ministry of Corporate Affairs has issued a Circular No. 31/2014 dated 19.07.2014 with respect to extension of time for the validity of reserved names made in INC 1 under the Companies Act, 2013 for which the service provider of MCA-21 has brought to the notice of ministry that there has been plethora of cases… Read More

Indian Inc gets relief under CA 2013

After the Ministry's clarification last week on related party transactions the Indian Inc has got some relief from the stringent provisions contained in the related party transactions. To begin with, a circular issued by the ministry of corporate affairs exempted contracts entered before the commencement of the act from the conditions. Contracts of related… Read More

Form MGT 14 to be filed in new version from 21st july 2014

The Ministry of corporate affairs has issued an important notice with respect the filing of form MGT 14, version of which is likely to be changed from 21st july 2014. So, due care shall be taken filing the form at the website as the version can be downloaded from the ministry's website.As per the latest… Read More

Amendment in Companies (Specification of definitions details) Rules, 2014

The Ministry of Corporate Affairs has amended Rule 3 of the Companies (Specification of definitions details) Rules, 2014 and has issued Companies (Specification of definition details) Amendment Rules, 2014 dated 17.07.2014 which shall come into force from the date of publication in the official gazette. The explanation of Rule 3 readwith 2(76) of the Act,… Read More

Companies (Miscellaneous) Rules, 2014 amended

The Ministry of Corporate Affairs has made an amendment in the Companies (Miscellaneous) Rules, 2014 dated 17.07.2014 to insert a new Sub Rule 11 after Rule 10 in the said rules, which shall be as under: Rule 11: Applications or forms pending before Central Government, Regional Director or Registrar of Companies - Any application or… Read More

Registration of names to be in consonance with the Emblems and Names (Prevention of Improper use) Act, 1950

The Ministry of Corporate Affairs has issued a Circular No. 29/2014 dated 11.07.2014 in continuation of circular 2/2014 and 26/2014 with respect to the clarification for Registration of names and has further clarified certain norms which state the name registration shall be in consonance with the provisions of the Emblems and Names (Prevention of Improper… Read More

Clarification on Applicability on matters relating to Related party Transactions

The Ministry of Corporate Affairs has issued a circular no. 30/2014 dated 17.07.2014 in order to provide clarification with respect to the matters relating to Related Party transactions as specified under section 188 of the Companies Act, 2013. The provision as laid down in section 188(1) of the Companies Act, 2013 is contained herein below:… Read More

Clarification on ‘Clause V’ of the Related Party under CA 2013

The Ministry of Corporate Affairs has issued Companies (Removal of Difficulties) Fifth Order, 2014 dated 09.07.2014 with respect to clarification on Clause V in the definition of Related Party Transactions in which the word 'or' shall be substituted with 'and' as the stakeholders were facing a lot obstacles in Clause V contained in the definition.… Read More

Brief overview of the compliances for Private Companies under CA 2013

The main change in the definition of a private company is in the increase in the limit of the number of members from 50 to 200 . Secondly, the definition does not state that a company inviting or accepting deposits from persons other than its members, directors or their relatives cannot be a private company.… Read More

Clarification on Clause V in the definition of ‘Related Party’

The Ministry of Corporate Affairs has issued Companies (Removal of difficulties) Fifth Order, 2014 dated 9th July, 2014 in order to provide clarification with respect to the clause V in the definition of Related Party which contained the word 'or' shall now be substituted with 'and' as the position became difficult because of the use… Read More