Corporate Law News

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 | 2520 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 | 2745 Views

Various measures taken by MCA to fight COVID-19 pandemic

20 July 2021 at 18:42

Shri 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.

Posted in Corporate Law | 2583 Views

36,191 new companies incorporated from April to June 2021

19 July 2021 at 21:38

The 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.

Posted in Corporate Law | 1854 Views

Rs 21,231 crore spent by 21,349 companies on CSR funds in 2019-20

19 July 2021 at 21:32

Section 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.

Posted in Corporate Law | 1281 Views

Government announces inclusion of Retail and Wholesale trades as MSMEs

02 July 2021 at 17:35

Shri 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.

Posted in Corporate Law | 1 comments | 9348 Views

ICMAI provides Relaxations in the Cost and Works Accountants Regulations, 1959

02 July 2021 at 17:26

Relaxations in the Cost and Works Accountants Regulations, 1959 on matters relating to Regional Councils of the Institute for the year 2021 on account of acute pandemic situation arising out of outbreak of COVID-19.

Posted in Corporate Law | 1518 Views

Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021

01 July 2021 at 22:09

MCA on June 21, 2021, has issued the Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021. Under the new Rules, Rule 3(7)(a) and Rule 3(8) stand amended.

Posted in Corporate Law | 1581 Views

Companies (Meetings of Board and its Powers) Amendment Rules, 2021

01 July 2021 at 21:58

Under the new Rules, Rule 4 has been omitted. Accordingly, this deletes the provision related to the restriction of conducting Board Meeting through Video Conferencing/Other Audio-Visual Means for selected agenda items.

Posted in Corporate Law | 1866 Views

Relaxation on levy of additional fees in filing of certain Forms under the Companies Act, 2013 and LLP Act 2008 by MCA

30 June 2021 at 15:23

MCA has further extended the timelines for filing of certain forms specified in Circular no. 06/2021 (other than CHG-1, CHG-4 and CHG-9) under the Companies Act, 2013 and LLP Act, 2008 without levy of additional fees, up to 31st August 2021.

Posted in Corporate Law | 2388 Views