Category Archives: Companies Act 2013

Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by Auditing and Assurance Standards Board

Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Auditing and Assurance Standards Board – (01-12-2016) Download Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Auditing and Assurance Standards Board – (01-12-2016)

Secretarial Standards on Dividend -Exposure Draft

Exposure Draft SECRETARIAL STANDARD ON DIVIDEND The following is the text of the Secretarial Standard-3 (SS-3) on “Dividend”, issued by the Council of the Institute of Company Secretaries of India. Adherence to this Secretarial Standard is recommendatory for all companies to facilitate uniform practices in distribution of profits by way of “Dividend”. (In this Secretarial… Read More »

Secretarial Standard on Report of Board of Directors -Exposure Draft

Exposure Draft SECRETARIAL STANDARD ON REPORT OF THE BOARD OF DIRECTORS The following is the text of Secretarial Standard on “Report of the Board of Directors”, issued by the Council of the Institute of Company Secretaries of India. Adherence by a company to this Secretarial Standard is recommendatory. (In this Secretarial Standard, the Standard portions… Read More »

Intangible assets, relevant Indian Accounting Standards (Ind AS) shall apply

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th November, 2016 G.S.R. 1075(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments to amend Schedule II to the said Act, namely:- 1. In the Companies Act,… Read More »

Insolvency and Bankruptcy Code 2016 certain provisions w.e.f 01.11.2016

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st November, 2016 S.O. 3355(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st November, 2016 as the date on which the provisions of the following sections of… Read More »

Committee for National Corporate Social Responsibility Award

SECTION 135 OF THE COMPANIES ACT, 2013 CORPORATE SOCIAL RESPONSIBILITY CONSTITUTION OF STEERING COMMITTEE FOR CONDUCTING NATIONAL CORPORATE SOCIAL RESPONSIBILITY AWARD OF MINISTRY OF CORPORATE AFFAIRS GENERAL CIRCULAR NO.11/2016 [F.NO.02/04/2016-CSR], DATED 15-9-2016 In pursuance to the approval of Hon’ble Corporate Affairs Minister, National CSR Award is being set-up by the Ministry of Corporate Affairs. A… Read More »

Last date extended for filing AOC-4, AOC-4 (XBRL), AOC-4 (CFS) & MGT-7

General Circular No. 12/2016 F. No. MCA 21/153/2012-E-Gov Cell Government of India Ministry of Corporate Affairs 5th Floor, “A” Wing, Shastri Bhawan Dr. Rajendra Prasad Road, New Delhi-1 Dated: 27.10.2016 To The Regional Directors, All Registrar of Companies All Stakeholders Subject: Relaxation of additional fee and extension of last date of in filing AOC-4, AOC-4… Read More »

FAQ’s on Companies Mediation and Conciliation Rules 2016

Companies (Mediation and Conciliation) Rules, 2016 The Central Government, in order to facilitate voluntary dispute resolution mechanism, vide Notification dated September 9, 2016 has come up with Companies (Mediation and Conciliation) Rules, 2016 The Rules pertain to section 442 of the Companies Act, 2013 (hereinafter referred to as “Act, 2013”) which provides for the setting… Read More »

Companies (Mediation and Conciliation) Rules 2016

COMPANIES (MEDIATION AND CONCILIATION) RULES, 2016 NOTIFICATION [F.NO.1/36/20/13-CL.V], DATED 9-9-2016 In exercise of the powers conferred under section 442, read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely : Short title and Commencement 1. (1) These rules may be called the Companies (Mediation… Read More »

Handbook on Internal Auditing-2016

Handbook on Internal Auditing Handbook on Internal Auditing : Description & Features Publisher: Bharat Law House; 2016 edition (2016) Language: English Guidance on Internal Financial controls over Financial reporting u/s 143(3) (i) of the Companies Act, 2013 •  Audit Risk and enterprise Risk Management [ERM] •  Internal Audit and Corporate Governance •  Internal Audit Questionnaires… Read More »

Company Secretarial Practice Manual

Company Secretarial Practice Manual Company Secretarial Practice Manual is a comprehensive manual comprising topic-wise concise commentary on the law and procedures under the Companies Act, 2013. The third edition of the book has been thoroughly revised in view of sea changes brought in by the Companies Act, 2013. This edition is a unique treatise, comprising… Read More »

Limited Liability Partnership- Law and Practice -Book

Limited Liability Partnership- Law and Practice, 3E Hardcover – 2016   Limited Liability Partnership- Law and Practice, 3E Hardcover – 2016 A LLP contains features of two long-standing forms of business associations, namely the ‘company’ and the ‘partnership firm’. A LLP, thus, is a hybrid of a company and a partnership. To explore this new… Read More »

Draft rules for application for corporate insolvency resolution process released

DRAFT FOR PUBLIC COMMENTS  INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016 In exercise of the powers conferred under sub-section (2) of section 7, sub-section (1) of section 8, sub-section (2) of section 9, sub-section (2) of section 10, sub-sections (1) and (2) of section 239 of the Insolvency and Bankruptcy Code, 2016 (31… Read More »

How to register DSC on MCA portal

Steps to Register DSC on MCA portal Professionals were facing lots of issues while registering DSC on MCA portal. So, here are the settings to register DSC on the portal: MCA DSC SELETION SETTINGS Please Follow Exact Settings Provided Below To enable DSC Selection Window: I. Browser Verification: Use Only Internet Explorer Version-9 or Above… Read More »

National Advisory Committee on Accounting Standards Notified

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 3rd October, 2016 S.O. 3118(E).—In exercise of the powers conferred by sub-section (1) of section 210A of the Companies Act, 1956, (1 of 1956), the Central Government hereby constitutes an Advisory Committee to be called the National Advisory Committee on Accounting Standards, consisting of the following persons,… Read More »

Insolvency and Bankruptcy Board of India Notified by Govt

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st October, 2016 S.O. 3110(E).-In exercise of the powers conferred by sub-section (1) and (3) of section 188 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints 01st October, 2016 as the date of establishment of Insolvency and Bankruptcy Board of… Read More »

Companies (Incorporation) fourth Amendment Rules 2016

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)] Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 1st October, 2016 G.S.R. …… (E).—ln exercise of the powers conferred by sub-sections (1) and (2) of section 469 ot- the Companies Act, 2013 (18 of 20’13), the Central Government… Read More »

Annual Filing Check List for ROC-Forms ADT-1, AOC-4, MGT-7

Annual Filing Check List for ROC Forms ADT-1, AOC-4, MGT-7 1) ADT-1 (Appointment of Auditors) 2) AOC-4 (Balance Sheet and Profit & Loss Account) 3) MGT-7 (Annual Return) Form  Details Particulars ADT-1 (Appointment of Auditors) Auditors Detail a) Name of the auditor or auditor’s firm b) Income tax permanent account number of auditor or auditor’s firm c) Auditor’s firm’s registration number d)… Read More »

ICAI clarified auditor’s rotation under the SQC 1

1. The Council of the Institute of Chartered Accountants of India (ICAI), at its 359th meeting held on September 16-17, 2016 considered an issue regarding the difference in requirements relating to the auditor’s rotation under the SQC 1, “Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and… Read More »

Book-Company Law Manual (Edition ,September 2016)

Company Law Manual (5th Edition, September 2016) BUY Company Law Manual (5th Edition, September 2016) A Compendium of Companies Act 2013 along with Relevant Rules & Forms. Paperback: 1844 pages Publisher: Taxmann Publications Pvt. Ltd.; 5th Edition edition (2016) Language: English ISBN-10: 9386189445 ISBN-13: 978-9386189448

MCA :- Register Your Complaint with supporting document

A new feature has been added while raising complaints of MCA portal. Now a person can attach document or error screenshot in “Supporting Documents” field. Earlier the same had to be sent via email writing complaint number in subject. This new feature will bring ease among the professionals while raising tickets. It is also hopeful… Read More »

Fema Ready Reckoner : Book

Fema Ready Reckoner (English) (Paperback, Taxmann) BUY Key Features of Fema Ready Reckoner (English) Language: English Binding: Paperback Publisher: Taxmann Genre: Academic and Professional ISBN: 9789350718070, 9350718073 Edition: 2016 Edition, 2016

Schedule V of Companies Act Amended by MCA

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (ii)] Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 12th September, 2016. S.O.  (E). In exercise of the powers conferred by sub-sections (1) and (2) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government… Read More »

CARO 2016 Applicability

CARO 2016 Applicability BUY CARO 2016 Applicability CARO-2016 has been issued by the Central Government in pursuance with the provisions of sub-section (11) of Section 143 as an additional matters to be included in the Report of Auditors. Therefore, CARO-2016 should be complied by the Statutory Auditor of every company to which it applies. Further,… Read More »

MCA notifies 8 Sections of Companies Act 2013 w.e.f. 09.09.2016

Vide Notification Dated 09.09.2016 MCA notifies provisions related to :- Legal advisers and bankers not to disclose certain information : Section 227 Powers of Tribunal , section 242 (1)(b), section 242(2)(c) & (g), Application of certain provisions to proceedings under section 241 or section 245 :section 246 Penalty for frauds by officers :section 337 Liability… Read More »

Companies Mediation and Conciliation Rules 2016

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi. The 9th September. 2016 G.S.R. (E) – In exercise of the powers conferred under section 412 read with section 469 of the Companies Act. 2(113 (18 of 2013). the Central (government hereby makes the following rules, namely 1. Short Title and Commencement (1) These rule… Read More »

Authorization to Company Secretaries for Third Party Certification Audits

THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament PDPP&S/LL/2016/37 Dated: September 09, 2016 Dear Professional Colleagues Sub. : Authorization of Practising Company Secretaries for Conducting Third Party Certification Audits As you are kindly aware, the Labour Department, Government of Haryana vide its Notification No.11/38/2016-4Lab dated 10th August, 2016 formulated Third… Read More »

Relaxation of additional fees for filing Form IEPF-1

No.05/05/2016-lEPF Government of India Ministry of Corporate Affairs 5th Floor, “A” Wing, Shastri bhawan, Dr. R.P. Raod, New Delhi-110001 General Circular No 10/2016 Dated: – 07.09.2016 To The IEPF Authority, All Regional Directors, All Registrar of Companies, All Stakeholders, Subject: Relaxation of additional fees for filing Form IEPF-1 Sir, The Ministry had deployed the V2R2 version of MCA21 on 28th… Read More »

Rules Amendment for Appointment of IEPF Chairperson & Members

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 5th September 2016 G.S.R. (E) — In exercise of the powers conferred by section 469 read with sub-sections (5), (6) and (7) of section 125 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Investor Education… Read More »

Subsidiary company can adopt calendar year as its Financial Year for consolidation of accounts

NATIONAL COMPANY LAW TRIBUNAL, BENGALURU BENCH Universal Robots (India) (P.) Ltd., In re RATAKONDA MURALI, JUDICIAL MEMBER AND ASHOK KUMAR MISHRA, TECHNICAL MEMBER T.P. NO. 99 OF 2016 & CA NO. 109/2(41) CB OF 2016 AUGUST  26, 2016 P.R. Sitaram for the Applicant. ORDER The Petition is filed by the Applicant under Section 2(41) of… Read More »

Section 124 and Section 125 of Companies act Comes into force w.e.f 07.09.2016

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th September, 2016 S.O. 2866(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints 7th September, 2016 as the date on which the provisions of section 124, sub-sections (1) to (4), (6)… Read More »

Govt notifies salary & service rules of Insolvency and Bankruptcy Board

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 29th August, 2016 G.S.R. 831(E).—In exercise of the powers conferred in clause (zd) of the sub-section (2) of section 239 read with sub-section (5) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby makes the following rules, namely:— 1.… Read More »

Special Courts for speedy trial of offences u/s 435 of Companies Act

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st September, 2016 S.O. 2843(E).—In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government hereby, with the concurrence of the Chief Justice of the High Courts of Chhattisgarh, Rajasthan, Punjab and Haryana, Madras and… Read More »

Issuance of Rupee Bonds to Overseas Investors by Indian Companies : MCA Circular

SECTION 71 OF THE COMPANIES ACT, 2013 ISSUANCE OF RUPEE BONDS TO OVERSEAS INVESTORS BY INDIAN COMPANIES GENERAL CIRCULAR NO.9/2016 [NO.1/21/2013-CL-V], DATED 3-8-2016 The Ministry has received references from stakeholders seeking clarity on applicability of provisions of Chapter III of the Companies Act, 2013 (Act) and rule 18 of Companies (Share Capital and Debenture) Rules,… Read More »

Nidhi Companies : Introduction

INCORPORATION OF NIDHI COMPANIES  The Dictionary Meaning of Nidhi in Indian Context “In the Indian context / language means “TREASURE”. However, in the Indian financial sector it refers to any mutual benefit society notified by the Central / Union Government as a Nidhi Company. Nidhi Companies are created mainly for cultivating the habit of thrift… Read More »