Corporate Law Reporter - The Daily Journal

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

Competitive Monetary Easing: Is it yesterday once more?

Remarks by Dr. Raghuram G. Rajan, Governor, Reserve Bank of India at the Brookings Institution Good morning. As the world seems to be struggling back to its feet after the great financial crisis, I want to draw attention to an area we need to be concerned about: the conduct of monetary policy in this integrated… Read More

Corporate Guarantees and Transfer pricing

Corporate Guarantees Whether a leg that fits into the shoes of Transfer pricing?? 1. Introduction At a time where World™s almost every economy is going through a period of crisis, Government of every country is trying their best to provide stimulus to their economy. As a result, every Government / Country wants their share of… 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

RBI releases Draft Report on ˜Working Group on Pricing of Credit™

The Reserve Bank of India today placed on its website Draft Report on Working Group on Pricing of Credit. Comments/feedback on the recommendations of the draft report may be sent by May 16, 2014 by email or by post to the Principal Chief General Manager, Reserve Bank of India, Department of Banking Operations and Development,… 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

PRACTICE WITH PASSION AND NOT WITH FEARA NEW MANTRA WHILE FACING CHALLENGES POSED BY COMPANIES ACT, 2013

GOD SAVES THOSE WHO SAVE THEMSELVES is a famous phrase which aptly applies to CS and CA Professionals when they need to face the challenges posed by the Companies Act, 2013 and its voluminous rules and future notifications /clarifications expected to come periodically from the Government. Compounding applications will not be of any use in… Read More

Investment through Alternative Investment Funds Clarification on Calculation of NOF of an NBFC

RBI/2013-14/554 DNBS (PD) CC.No.373/03.10.001/2013-14 April 7, 2014 All NBFCs Dear Sirs, Investment through Alternative Investment Funds Clarification on Calculation of NOF of an NBFC In terms of section 45 IA of the RBI Act, 1934, net owned funds (NOF) of an NBFC means- (a) the aggregate of the paid-up equity capital and free reserves as… 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