FAQ’s on Corporate Social Resbonsibility
Companies consider there one responsibility i.e to earn more for their shareholders. But the concept of corporate social responsibility says that companies should also take responsibility of society.
Search Results for: Companies Act of 2013
NCLAT getting clogged up; Appellate body has no competition regulation professional
Tribunals have been predicted as a solution to judicial delays and a tool to harness fee-effectiveness, accessibility, expedited functioning, professional understanding and freedom from technicalities getting used as pace-breakers. Nevertheless, fact seems pretty unique as a long way as opposition appeals are worried. The Indian competition adjudicatory shape includes the Competition Commission of India (CCI) … Continue reading “NCLAT getting clogged up; Appellate body has no competition regulation professional”
Final opportunity for disqualified directors for filing documents
Ministry of Corporate Affairs (MCA) vide its General Circular No.16/2017, Condonation of Delay scheme (COD Scheme), 2018 to vouchsafe final
A 3 Month Window For Relief of Disqualified Directors by MCA
Section 164 of the Companies Act, 2013, provides the events which result in disqualification of directors. For those director who had been disqualified
Supreme Court stays NCLT order allowing government to take control of Unitech
New Delhi: The Supreme Court on Wednesday stayed an order of the National Company Law Tribunal (NCLT) that allowed the government to take control of troubled builder Unitech Ltd by suspending its board. “NCLT should not have passed the order. We direct the stay of the order dated 8 December,” said Chief Justice Dipak Misra. The … Continue reading “Supreme Court stays NCLT order allowing government to take control of Unitech”
Bombay High Court’s order on Disqualification of Directors
Whether disqualification of directors for non-filing of financial for a continuous period of three years from FY 2014, 2015 & 2016 tantamount to retrospective effect of Companies Act, 2013? Bombay High Court in its order dated October 12, 2017, gave clarity on following observations pertaining to Section 167(2) (a): 1) Non-filing of financial for FY … Continue reading “Bombay High Court’s order on Disqualification of Directors”
Amendments by MCA in filing of documents and forms in XBRL
Ministry of Corporate Affairs (MCA) vide its notification dated 6/11/2017 regarding the amendments in Rule 3 i.e. filing of documents and forms in extensive business reporting language (XBRL). As per Rule 3 of XBRL Filing, filing of financial statement has been substituted. But after the amendment Rule 3, the ground plan of companies required to … Continue reading “Amendments by MCA in filing of documents and forms in XBRL”
Ordinary Course of Business
Since the introduction of the Company’s Act Provisions and especially in the context of Sec. 180, 185 & 188 etc., ‘Ordinary course of business’ word becomes the matter of discussion. Like, as per section 188.
CSR Provisions – Obligation or Opportunity in the context of Corporate thinking
With the introduction of Corporate Social Responsibility provisions, many corporate consider this provision to be a burden on them. Many of them believe that the business set up by them is for the betterment of their own and their successors and when the Society’s welfare comes into picture, they say that govt.
Disclosure of Cancelled Notes Post-Demonetisation: ICAI
ICAI asked its members, to ensure that companies have made adequate disclosures of transactions involving canceled notes before December 30, 2016.
What is Producer Company Registration and Its Benefits
Producer Company means a corporate body having objects or activities as specified under the Act. It consists of a group of people involved in the production of primary produce or having one or more objectives relating to primary produce.
How to Do One Person Company (OPC) Registration
The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity.
Know Your Company Compliance Requirement
Not only company Act, 2013 but other allied laws such as Income Tax Act, Labour Laws and other industries specific laws are applicable on companies.
Penalties and Prosecution for Non Filling of Financials with ROC
Every company shall file with the Registrar a copy of the annual return within 60 days and financial statement within 30 days of AGM.
FTE- Don’t carry the burden of being part of defaulting company
Fast Track Exit gives a choice or option to defunct companies to get their names struck off from the Registrar of Companies.
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