Corporate Law News

12,889 shell companies struck off in FY 2020-21

04 August 2021 at 06:37

GoI has undertaken a Special Drive for identification and strike off of Companies by invoking the provisions of section 248 (1) of the Act by which the Registrar of Companies struck off those companies after following the due process of law.

Posted in Corporate Law | 2700 Views

8 resolved, 65 settled/withdrawn and 23 ordered for liquidation in insolvency cases under IBC in real estate sector

03 August 2021 at 06:26

212 applications pertaining to the real estate sector were admitted for the Corporate Insolvency Resolution Plan under the IBC. 8 cases out of these were resolved, 65 cases have been settled or withdrawn and 23 cases were ordered for liquidation.

Posted in Corporate Law | 2421 Views

Cabinet approves amendments to LLP Act, 2008 - Check All Details Now!

30 July 2021 at 17:38

The Cabinet, on 28th July 2021 approved amendments to the LLP Act, 2008 vide LLP Amendment Act, 2021. These amendments to the LLP Act were suggested in Union Budget 2021, presented by FM Nirmala Sitharaman in the parliament on 1st February 2021.

Posted in Corporate Law | 9264 Views

Ministry of Corporate Affairs has deployed Costing Validation Tool 3.2

28 July 2021 at 06:31

The Ministry of Corporate Affairs has deployed the Costing Validation Tool 3.2. Thus, the Institute of Cost and Management Accountants of India has requested professionals to use the current tool for validating Instance Documents.

Posted in Corporate Law | 1878 Views

Government identified 2,38,223 companies as shell companies between 2018-2021

27 July 2021 at 20:15

Shri 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.

Posted in Corporate Law | 3006 Views

Financial assistance towards MSMEs

27 July 2021 at 06:33

In 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.

Posted in Corporate Law | 5160 Views

New provisions relating to Rectification of name of Company to come into effect from 1st September 2021

26 July 2021 at 05:55

MCA 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.

Posted in Corporate Law | 2154 Views

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 12:09

MCA 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.

Posted in Corporate Law | 2676 Views

IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

22 July 2021 at 06:16

The 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.

Posted in Corporate Law | 2511 Views

EPFO adds 9.20 lakh net subscribers in the month of May, 2021

20 July 2021 at 18:45

Of 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.

Posted in Corporate Law | 2739 Views