Corporate Law Articles

Cabinet approves amendments to LLP Act

CS Lalit Rajput 31 July 2021 at 10:08

The Cabinet on 28th July 2021 approved amendments to the LLP Act for decriminalizing offences under the law as the government looks to improve ease of doing business and encourage start-ups.

Unpaid Dividend Account And IEPF Provisions - Section 124 Of The Companies Act, 2013

Neha Rajan Redekar 31 July 2021 at 09:42

Where a dividend has been declared by a company but has not been paid or claimed within 30 days from the date of the declaration by any shareholder then it shall be transferred to an “Unpaid Dividend Account”.

Annual Return on Foreign Liabilities and Assets (FLA Return)

CS Divesh Goyal 31 July 2021 at 09:39

FLA is an Annual Return on Foreign Liabilities and Assets that is required to be filed by Indian Companies and LLPs. It is mandatory under FEMA 1999 and is to be filed by July 15 every year.

Difference between Right issue | Private Placement | Preferential Allotment

CS Divesh Goyal 31 July 2021 at 09:38

Rights issue is an invitation to existing shareholders to purchase additional new shares. Private placement is the sale of stock shares to pre-selected investors. Preferential allotment involves bulk allotment of fresh issue of shares at a pre-determined price.

Whether a company can give loan to director or whole time director?

CS Divesh Goyal 31 July 2021 at 09:38

It is clear that Companies can give a loan to their Managing Director/ WTD without any restriction under Section 185. However, as per Section 186, it is not mandatory to charge interest on such a loan.

IBC- Hefty Monetary Penalties to be imposed by an IP Agency

CS Lalit Rajput 30 July 2021 at 13:00

In order to ensure that insolvency professionals remain compliant with the letter and spirit of IBC, IBBI has issued a circular on 'Monetary Penalties to be imposed by an Insolvency Professional Agency'.

Process of Extension of AGM (Annual General Meeting)

CS Divesh Goyal 30 July 2021 at 11:27

Every company other than an OPC shall in each year, hold in addition to any other meetings, a general meeting as its annual general meeting within a period of six months, from the date of closing of the FY.

Holding of the AGM through Video Conferencing

CS Divesh Goyal 30 July 2021 at 11:27

To facilitate, the companies and businesses in India, MCA has allowed them to hold their Annual General Meeting by Video Conferencing or other audiovisual means amidst the COVID-19 crisis.

How to Remove Disqualification of Director?

CS Divesh Goyal 30 July 2021 at 09:51

As per the Companies Act, 2013, once a director is disqualified u/s 164(2) the director so disqualified shall continue to be disqualified for a period of 5 years.

One Person Company (OPC) | An analysis

Manju Laur 30 July 2021 at 09:47

The very concept of an OPC is that it shall have only one member. Only an individual can form an OPC. The minimum and maximum number of members in an OPC is one.