Provision for offer or invitation of NCD’s u/s 42 amended
The Ministry of Corporate Affairs has issued Companies (Prospectus and Allotment of Securities) Amendment Rules, 2014 vide notification G.S.R. (E) to insert a proviso after the second proviso to sub-rule (2) of Rule 14 of Companies (Prospectus and Allotment of Securities) Rules, 2014 under the Companies Act, 2013 as the second proviso provided that in the… Read More
Summary of Related Party Transactions under CA 2013
The new Companies Act have enacted with strict compliance in relation to the provisions relating to the related party transactions.The intent of the legislature is to bar the corporates from entering into transactions which are fraudulent under the cover of sister concerns.With newly enacted provisions the transactions with the related parties will be more transparent… Read More
Bonus Issue under Companies Act, 2013
Bonus issue refers to a further issue of shares made by a company having share capital to its existing share holders without receipt of any consideration from the shareholders for issuance of the shares. It is an offer of free additional shares to existing shareholders in proportion to their holdings. For example, the company may… Read More
FIPB to take call on 31 foreign investment proposals next week
The Foreign Investment Promotion Board, headed by finance secretary,Arvind Mayaram, is scheduled to meet up next week to discuss and take a call on many foreign direct investment proposals next week. The top most amongst the agenda is the booming pharmaceutical sector, while India allows direct investment in many segments through automatic route but investments… Read More
BUY BACK OF EQUITY SHARES UNDER THE COMPANIES ACT, 2013
BUY BACK OF EQUITY SHARES Normally the Sections in the Act deals with the compliance part of it and the rules connected to the particular Section lays down procedures for compliance and the Forms for submission. Under the new Companies Act, 2013, we get confused as to which is the Act and which is the… Read More
Good news as Ministry increases scope to set up Private Companies
The Ministry of Corporate Affairs have set a all new wave for the foreign entities to set up private companies in India by removing the erstwhile concept of Deemed public company.Now, All the India Private Companies shall be treated as private companies even if its foreign holding company is a public company under the laws… Read More
‘NOC’ from Forward Market Commission to use word Commodity Exchange
The Ministry of Corporate Affairs has issued a circular dated 27.06.2014 in continuation of circular 02/2014 dated 11.02.2014 which prohibited the companies to use the words like 'National' , 'Bank' etc. unless the company obtains NOC from the designated authorities like RBI for the use of word 'Bank' and such other words specified in the… Read More
Clarification on applicability of Resident Director
The Ministry of Corporate Affairs has issued a circular dated 26.06.2014 to provide clarification on the criteria of calculation of 182 days for the appointment of Resident Director as specified under section 149 (3) of the Companies Act, 2013 which says that a company shall have a director who has stayed in India for a… Read More
Budget could provide tax exemption to corporates for CSR
The Ministry of Finance is seriously considering the proposal made by the corporates for allowing the tax rebate to the corporate houses for the expenditure they have to make on the Social Welfare Schemes to be made as a part of their Corporate Social Responsibility (CSR). While the ministry had earlier opposed the idea of… Read More
Special Investigation Team Supreme Court Judgment
RBI/2013-14/663 RPCD.CO.RRB.RCB.BC.No. 113/03.05.33/2013-14 June 26, 2014 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Special Investigation Team Supreme Court Judgment In pursuance of the Hon'ble Supreme Court Judgment dated July 4, 2011, Government of India has constituted a Special Investigation Team (SIT) under the Chairmanship of Hon'ble… Read More
Amendment Notification on Chapter VII Rules under CA 2013
The Ministry of Corporate Affairs has issued a notification G.S.R. (E) dated 23rd June, 2014 in exercise of the powers conferred by sub-sections contained in Chapter VII dealing with Management and Administration read with section 469 which provides the power to the Central Government to make rules under the Companies Act, 2013, by virtue of… Read More
Clarification with regard to holding of shares in a fiduciary capacity by associate company under section 2(6) of the Companies Act, 2013.
General Circular no. 24/2014 F. No: 01/13/2013 -CL-V Government of India Ministry of Corporate Affairs `A' Wing, 5th Floor, Shastri Bhawan Dr. Rajendra Prasad Road, New Delhi-110001 Date: 25.06.2014 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Clarification with regard to holding of shares in a fiduciary capacity by associate company under… Read More
Clarification relating to incorporation of a company w.r.t. 4(7) of Companies Act, 1956
General Circular no. 23/2014 F. N: 1/13/2013 -CL-V Government of India Ministry of Corporate Affairs `A' Wing, 5th Floor, Shastri Bhawan Dr. R.P. Road, New Delhi-110001 Date: 25.06.2014 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Clarification relating to incorporation of a company i.e. company Incorporated outside India. Sir, Government has received… Read More
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