Corporate Law News
Government identified 2,38,223 companies as shell companies between 2018-2021
27 July 2021 at 20:15Shri Rao Inderjit Singh further stated that the Special Task Force set up by the Government to look into the issue of "Shell Companies" has inter-alia recommended the use of certain red flag indicators as alerts for identification of Shell Companies.
Financial assistance towards MSMEs
27 July 2021 at 06:33In view of the challenges faced by taxpayers due to the outbreak of COVID-19, the Government of India has taken several taxation related measures for MSMEs. Financial Assistance has also been provided to MSMEs.
New provisions relating to Rectification of name of Company to come into effect from 1st September 2021
26 July 2021 at 05:55MCA has announced that the provisions relating to Rectification of name of Company as per the Companies (Amendment) Act, 2020 and insertion of Rule 33A in Companies (Incorporation) Rules, 2014, will come into effect from 1st September 2021 onwards.
MCA inserts new Rule 33A - Allotment of a new name to the existing company under section 16(3) of the Companies Act
23 July 2021 at 12:09MCA has notified a new Rule 33A after Rule 33 which shall deal with the Allotment of a new name to the existing company under section 16(3) of the Act. Furthermore, in the annexure, a new Form INC-11C has also been inserted after Form No.INC-11B.
IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
22 July 2021 at 06:16The amendment regulations enhance the discipline, transparency, and accountability in corporate insolvency proceedings. The amended regulations are effective from 14th July 2021. These are available at www.mca.gov.in and www.ibbi.gov.in.
EPFO adds 9.20 lakh net subscribers in the month of May, 2021
20 July 2021 at 18:45Of the total 9.20 lakh net subscribers added during the month, around 5.73 lakh new members have come under the ambit of the Employees’ Provident Funds Scheme for the first time.
Various measures taken by MCA to fight COVID-19 pandemic
20 July 2021 at 18:42Shri Rao Inderjit Singh, Minister of State for the Ministry of Corporate Affairs lists down 23 measures that have been undertaken by the MCA to address the COVID-19 pandemic. This was stated by in a written reply to a question in the Rajya Sabha.
36,191 new companies incorporated from April to June 2021
19 July 2021 at 21:38The number of new companies incorporated in the Country under the provisions of the Companies Act, 2013 from April 2021 to June 2021 is 36,191 as compared to 18,968 in the corresponding period of last year which is an increase of 17,223 Companies.
Rs 21,231 crore spent by 21,349 companies on CSR funds in 2019-20
19 July 2021 at 21:32Section 135 of the Companies Act, 2013 mandates every company having a net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more, or net profit of Rs. 5 crore or more during the immediately preceding FY to undertake CSR activities.
Government announces inclusion of Retail and Wholesale trades as MSMEs
02 July 2021 at 17:35Shri Nitin Gadkari said - Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and wholesale trade will also get benefit of priority sector lending under RBI guidelines.
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