Category: Companies Act 2013
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Whether SFIO needs to complete the investigation within the time specified by the Central Govt.?
The Apex Court held that the period that the Central Govt. may prescribe to complete investigation u/s.212(3) is directory and no fixed period is provided for completion of investigation by SFIO; transfer of investigation by other agencies to SFIO u/s.212(2) of the Companies Act 2013 is irrevocable; when accused is directed to remand by a […]
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Companies (Restriction on number of layers) Rules, 2017
Indian Companies can have only two layers of subsidiaries under the Companies Act 2013, with the government putting in place stricter norms as it continues with the clampdown on illicit fund flows. The Companies (Restriction on number of layers) Rules, 2017, notified (G.S.R. 1176(E)) by Central Government, came into effect from 20th September 2017. Meaning of […]
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Transition from High Court to NCLT, compromise, arrangement, winding-up and other matters
The Insolvency and Bankruptcy Code, 2016 (31 of 2016) Key words of Preamble to the Insolvency and Bankruptcy Code, 2016 (IBC):- reorganization and insolvency resolution of- corporate person, partnership firms and individuals – in a time bound manner for maximization of value of assets to promote entrepreneurship availability of credit balance the interest of […]
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Companies Amendment Bill 2016: Analysis
An attempt is made to present an analysis of the Companies Amendment Bill, 2016. Posting analysis of definitions only. Analysis on other provisions would be posted in staggering mode. CLC = Companies Law Committee of Ministry of Corporate Affairs (MCA) which submitted its report in February 2016. LODR = Securities and Exchange Board (Listing Obligations […]
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One Person Company (OPC)
One Person Company by CS Prakash K. Pandya, assisted by Ms. Krinjal Shah In India, one can have three types of limited company viz. Public Company, Private Company and One Person Company. The concept of One Person Company (OPC) was first recommended by the expert committee of Dr. J.J. Irani in 2005. It is introduced […]
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Applicability of Secretarial Standards to private companies
From 01 July, 2015, every meetings of Board and committees thereof as well as General meetings need to comply with Secretarial Standards – notified by the Institute of Company Secretaries of India, after approval of the Central Government. It is applicable to all companies incorporated / registered in India. SS-1 on Board meetings can be […]
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Exemptions to Private companies under Companies Act, 2013 [05 June 2015]
Ministry of Corporate Affairs (‘MCA’) has issued four notifications, all dated 05 June 2015, and thereby granted several exemptions to Private companies, section 8 companies, government companies and nidhi companies. These notifications are issued under section 462 of the Companies Act, 2013 (‘the Act;). This write-up is restricted to exemptions to private companies (notification G.S.R.464 […]
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Note on amendment to the Companies (Share Capital and Debenture) Rules, 2014 made from 18 march 2015
Note on amendment to the Companies (Share Capital and Debenture) Rules, 2014 by MCA vide notification no. G.S.R. 210(E) dated 18 March 2015. EXISTING AMENDMENT COMMENT Rule 3 of the Companies (Share Capital and Debentures)Application.- The provisions of these rules shall apply to – (a) all unlisted pubic companies: (b) all private companies: and […]