Company Law - Corporate Law Reporter

One Person Company under the Companies Act, 2013

One Person Company - A Look at the relevant Legal provisions under the Companies Act, 2013 Introduction The sections relating to One Person Company were notified on the 26th March 2013 and the rules with regard to the same have also been notified. The purpose of this Article is to enlighten readers about the… Read More

Board Meetings through Video Conferencing and Criteria for Passing Circular Resolutions under Companies Act, 2013

LEGAL ASPECTS GOVERNING BOARD MEETINGS THROUGH VIDEO CONFERENCING AND THE ELIGIBLE CRITERIA FOR PASSING CIRCULAR RESOLUTIONS UNDER THE NEW COMPANIES ACT, 2013 AND THE RULES FRAMED THEREUNDER Introduction The Companies Act, 1956 gave the flexibility to the Board to pass the required resolutions either through Board Meetings or through circular resolutions in case of emergency.… Read More

Issue of Sweat Equity Shares Old Wine in a New Bottle ?

SECTION 54 of the Companies Act, 2013 deals with the Issue of Sweat Equity Shares. Most of the provisions have been copied from Section 79A of the Companies Act, 1956. The New Act has maintained the same percentage and quantum upto which Sweat Equity could be issued. ˜The Sweat Equity Issue™ has become more transparent… Read More

New MCA E-forms to be available from 28th April, 2014

This is in continuation of the Public Notice No. MCA21/28/2014-eGov dated 28th March, 2014 informing stakeholders of the availability of the new E-Forms prescribed under the Companies Act, 2013 from 14th April, 2014. After a careful review it has been decided that there could be a single phase roll-out instead of the earlier notified staggered… Read More

Master Circular for Depositories dated 7th April,2014

Securities and Exchange Board of India (SEBI) has been issuing various circulars/directions from time to time. In order to enable the users to have an access to all the applicable circulars/directions at one place, Master Circular no. CIR/MRD/DP/11 /2014 for Depositories has been prepared. This Master Circular is a compilation of the circulars/communications issued by… Read More

MCA unavailable on 11th April, 14 to make way for the new forms under Companies Act, 2013

The MCA Services will not be available from 6:00 AM on 11th April 2014 to 10:00 PM on 11th April 2014 in order to enable deployment of the new E-Forms compliant with requirement of Companies Act, 2013. Stakeholders are requested to bear with the inconvenience caused due to this unavailability of services Read More

Resident Director to be compulsorily appointed w.e.f. 1st April, 2014

The Ministry of Corporate Affairs (MCA) has notified that effective April 1, 2014, every company must have at least one resident director. Resident Director has been defined as one who has stayed in India for at least 182 days in the previous calendar year. As per provision of Section 149, this needs to be complied… Read More

MCA eForms filing plan for the transition period for Companies Act, 2013

PUBLIC NOTICE No.MCA21/28/2014-e-Gov Date: 28/03/2014 1. Companies Act, 2013 (The Act) was notified on 29th August, 2013. Section 1(3) of the Act empowers the Central Government to notify different dates for different provisions of the Act. 98 sections of the Act were notified on 12.09.2013 and section 135 and rules thereunder on 27/02/2014. The Ministry has… Read More

Corporate Identification Number (CIN) to be mandatorily mentioned on letterheads etc. from 1st April, 2014

In the latest from the Ministry of Corporate Affairs, 183 new Sections of the Companies Act 2013 have been notified to take effect from April 1, 2014. As per Section 12 of the Act notified from 1st April, 2014, every company is mandatorily required to mention its Corporate Identification Number (CIN) along with the name and… Read More

Roll out plan of various forms under the Companies Act, 2013 and continuance of forms under the provisions of Companies Act, 1956

General Circular No. 06/2014 Roll out plan of various forms under the Companies Act, 2013 and continuance of forms under the provisions of Companies Act, 1956 The Ministry of Corporate Affairs has notified 183 additional sections in addition to 99 sections earlier notified under the provisions of Companies Act, 2013. In this regard a Notification… Read More

Dissemination of Information with regards to provisions of the Companies Act,2013

General Circular No. 07/2014 Dissemination of Information with regards to provisions of the Companies Act,2013 as notified till date vis-a-vis the corresponding provisions of Companies Act, 1956 The Ministry had notified 99 sections on 12.09.2013 and 183 sections of the Companies Act, 2013 were notified w.e.f. 01.04.2013. Certain corresponding sections and parts of certain sections… Read More

Rules under Companies Act 2013 Notified for 10 Chapters

The Rules under Companies Act 2013 have been notified and are available for quick download at the links below: The list of notified rules is given below: Chapter I-Companies (Specification of definition details) Rules 2014 Chapter II- Companies (Incorporation) Rules 2014 Chapter III- Companies (Prospectus and allotment of securities) Rules 2014 Chapter IV- Companies (Share… Read More

ISSUE OF BONUS SHARES-COMPANIES ACT, 2013

There was no specific section under the Companies Act, 1956 dealing with Bonus Shares. Companies were following the norms prescribed by the Controller of Capital issues. Once SEBI came into existence and controller of Capital issues were abolished, unlisted Private Limited Companies and Public Limited Companies were free to issue Bonus Shares if there were… Read More