Articles - Corporate Law Reporter

Petition filed in Delhi High Court for MCA filing issues

While arguments, the Honourable Judge said that professionals & stakeholders are not guinea pigs upon whom things should be tried and tested. The system should have been tested before bringing to public domain. Further, he asked learned ROC Delhi & RD (NR) who were personally summoned, that have you ever yourself tried to register a… Read More

Aadhard Card of Directors will become mandatory soon

It may be noted that government is planning to switch over to“Aadhar” based KYC and identification for directors and hence enabling provision is proposed to recognize any other number equivalent to DIN. Meanwhile the professionals can start inclusion of Aadhar numbers of directors in the forms and returns, so as to build a database. Read More

SALARIED EMPLOYEES TO SUBMIT PROOF FOR LTA, HRA CLAIMS

The CBDT (Central Board of Direct Taxes) has introduced a new form (Form 12 BB) for claiming tax deduction towards LTA, LTC, HRA & interest paid for home loans. The new form mandates people to furnish proof of travel while claiming LTA, LTC, and details of landlord in case of HRA claims. Let us understand… Read More

MCA notifies section 435, 436, 437,438 and 440 under chapter 28 of Companies Act, 2013

Special Court under chapter XXVIII Central Government has appointed 18th May, 2016 as the date on which provisions of Section 2(29)(iv), 435,436,437,438 and 440 shall come into force. Government has also designated a few courts and specified their jurisdiction as Special Courts for the purpose of trial of offences punishable under Companies Act, 2013 with… Read More

Restrictions on Transferability of Shares and the Right of Pre-Emption

RESTRICTIONS ON TRANSFERABILITY OF SHARES AND THE RIGHT OF PRE-EMPTION -Raghavi Viswanath INTRODUCTION The distinction between private and public companies is primarily based on the idea that the legislation intends to make available the advantages of corporate trading to private traders or private persons. These advantages are embodied in the form of privileges which are… Read More

BANKRUPTCY CODE: A PROGRESSIVE BILL AND A NEED OF THE HOUR

INTRODUCTION: Law as an instrument is the best tool as well as the worst disability. It can enable you, and at the same time varied interpretation of the same law may disable your process. It is, therefore, of central importance that law should enable business or what in better way is known as enable “ease… Read More

SME….!!! A New Opportunity for Private Company..!

SME....!!! A New Opportunity for Private Company..! In the Present era, the market is booming up so every Company want to take opportunity to earn more from the same market and want to get maximum benefits out of that, so what are the ways available for Company to avail such benefits. So for that,… Read More

Copyright Law and Technology : Challenging the concept of Balance

The copyright law has symbiotic relationship with technology. The new technology enables a noble ways to enjoy copyrighted content, which opens a new markets for artists to sell their licensed works but when technology opens multiple ways to access the copyrighted works the problems between copyright and technology arises. The two paradigms exist to analyze… Read More

Procedure of Buy Back of Equity Shares in Pvt Ltd

Section 68, 69 & 70 of the Companies Act, 2013 Funds to be used: 1) Free Reserves 2) Securities Premium 3) Proceeds that are generated out of issue of any shares or other specified securities Separate bank Account: 1) Company need to open a separate bank account for the purchase of shares 2) Amount can be paid only in cash… Read More

Prevention of Money Laundering Act, 2002

PREVENTION OF MONEY LAUNDERING ACT, 2002 Introduction: PREVENTION OF MONEY LAUNDERING ACT, 2002 Came into force with effect from 01st July, 2005. The Act extend to whole of India except J&K. Objective: To prevent money- laundering, seize the property with authority, involved in money laundering Administration: Directorate of Enforcement of the Department of Revenue,… Read More

Companies amendment Bill goes to Standing Committee

The Bill seeking to make further amendments to the Companies Act has been referred to the Parliamentary Standing Committee, which is expected to prepare its report within three months. Corporate Affairs Minister Arun Jaitley had introduced the Companies (Amendment) Bill, 2016 on March 16 in the Lok Sabha. After taking into consideration suggestions made by… Read More

Compliance under The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

Procedure : 1) Internal Complaint Committee : Committee needs to be constituted as under : 1) Senior most women member of organisation. 2) One member from NGO 3) In any case, there should be equal no of women workers in the committee. 2) Meeting : There is nowhere mentioned in the act about the no… Read More

Foreign Direct Investment in Limited Liability Partnerships

Limited Liability Partnership [hereinafter, LLP] has been recognized as a premium vehicle for business administration of service providers on account of its perpetual succession, restricted liability and efficient structure. The principal Act, i.e., the Limited Liability Partnership Act, 2008 [hereinafter, LLP Act], whose primary object is to enable professional expertise and entrepreneurial initiative, was widely… Read More