Articles by CS Jigar Shah

View Full Profile

List of Sections notified w.e.f. August 15, 2019 by MCA along with respective section of Companies Act, 2013 and its relevant extract of sections is reproduced below for easier access and reference.  Companies Amendment Act, 2019 - SECTIONS Corresponding..

Posted in Corporate Law |   994 Views

While Disqualification of Directors is not a new concept, recent action by the Ministry of Corporates Affairs (MCA) under Companies Act, 2013, disqualification has become a talk of the town. Every Individual who were a director of non-active Companies (more popularly known as Shell Companies) has fo..

Posted in Corporate Law  10 comments |   1538 Views

MCA had notified Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018. As per the Amendment Rules notified on July 10, 2018 all the Individuals holding DIN were required to file DIR 3 KYC form on or before October 15, 2018. The Rule 12A further provided that “Eve..

Posted in Corporate Law  7 comments |   2810 Views

It has been more than a month since the Ministry of Corporate Affairs issued Companies (Incorporation) Amendment Rules, 2019 mandating all the Companies that are incorporated on or before December 31, 2017 to file ACTIVe Form. While by now everyone knows what is ACTIVe form and what all info..

Posted in Corporate Law  13 comments |   2640 Views

MCA introduces new e-form 22A - also known as eForm ACTIVE (Active Company Tagging Identities and Verification) 1) Applicable to? The Form 22A is applicable to every Company Incorporated on or before 31/12/2017. (However,  Companies whose due Financial Statements or Annual Return or both ..

Posted in Corporate Law  9 comments |   8335 Views

On June 14, 2018 the Ministry of Corporate Affairs (MCA) issued the Companies (Significant Beneficial Owners) Rules, 20181 (SBO Rules). The Rules, as name suggests, provide for a declaration by the Company to ROC about the Significant Beneficial Owner and compliance related to the same to enable Gov..

Posted in Corporate Law  1 comments |   1495 Views

The Companies (Amendment) Ordinance, 2018 promulgated on November 02, 2018 thereby amending some of the sections of the Companies Act, 2013. Why this amendment or re-categorisation from Fine to Penalty is a major change? Let us first understand the basic meaning of Fine and Penalty and the d..

Posted in Corporate Law  7 comments |   2557 Views

Understanding the NFRA rules

  CS Jigar Shah    23 November 2018 at 15:19

Five years after the Companies Act, 2013 provided for the creation of a National Financial Reporting Authority (NFRA), Government has taken steps to implement NFRA. The rules also mandated that every auditor shall file a return with the Authority on or before 30th April every year in such form as..

Posted in Corporate Law  4 comments |   1985 Views

To incorporate a Company, proof of address is mandatory to have a registered office. So mostly a promoter of start-ups opens a Company using its own residential address as a Registered Office address and then start a business on rented premises. This helps them in maintaining the same address while ..

Posted in Corporate Law  7 comments |   2688 Views

MGT-9 is it still relevant?

  CS Jigar Shah    31 October 2018 at 10:42

Section 92(3) of the Companies Act, 2013 provides that “An extract of the annual return in such form as may be prescribed shall form part of the Board’s report.” The form prescribed in the Rules is known MGT-9. However, Section 27 of the Companies Amendment Act, 2017, inter alia, p..

Posted in Corporate Law  4 comments |   2707 Views

CA Learning
Online GST Class    |    x