Corporate Law News

MCA ordered for investigation in the cases of misuse of corporate structure/ fraud for FY 2020-21

22 March 2021 at 17:10

The Ministry of Corporate Affairs (MCA) has ordered for investigation and assigned to Serious Fraud Investigation office (SFIO) and Regional Directors (RDs) in the cases where there are allegations of misuse of corporate structure/ fraud.

Posted in Corporate Law | 1455 Views

Sanction for prosecution accorded in 366 cases in violation of CSR provisions

22 March 2021 at 17:08

Whenever any violation of CSR provisions is reported, action against such non-compliant Companies are initiated as per provisions of the Act after due examination of records and following due process of law.

Posted in Corporate Law | 1221 Views

EPFO | 13.36 lakh net new subscribers added in the month of January, 2021

20 March 2021 at 18:52

The provisional payroll data of EPFO published on 20th March, 2021 highlights a growing trend of subscriber base with the addition of 13.36 lakh net subscribers during the month of January, 2021.

Posted in Corporate Law | 1419 Views

MCA establishes Central Scrutiny Centre for carrying out scrutiny of STP e-forms

19 March 2021 at 20:30

Establishment of Central Scrutiny Centre (CSC) for carrying out scrutiny of Straight Through Processes (STP) e-forms filed by the Companies under the Act w.e.f. 23rd March 2021.

Posted in Corporate Law | 7320 Views

MCA creates restriction to the remuneration payable to Independent directors

19 March 2021 at 05:17

The Ministry of Corporate Affairs has created certain restrictions on the remuneration payable to independent directors under Schedule V of the Companies Act, 2013.

Posted in Corporate Law | 10950 Views

MCA releases the date on which provisions of Sec 32 & 40 of Companies (Amendment) Act, 2020 shall come into force

19 March 2021 at 05:14

The Ministry of Corporate Affairs has appointed 18th March 2021, as the date on which provisions of Sec 32 & 40 of the Companies (Amendment) Act, 2020 shall come into force.

Posted in Corporate Law | 1833 Views

APEDA signs MoU with NSIC for harnessing the exports potentials of MSMEs

18 March 2021 at 19:50

APEDA yesterday on 17-03-2021 signed memorandum of understanding (MoU) with NSIC for ensuring cooperation in range of areas focussing on harnessing exports potential of agricultural and processed food products manufactured by MSMEs.

Posted in Corporate Law | 1236 Views

Reporting of status of ongoing CIRPs through Form CIRP 7

18 March 2021 at 17:58

Regulation 40A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 ('CIRP regulations') provides a model timeline for carrying out various activities envisaged in a corporate insolvency resolution process (CIRP).

Posted in Corporate Law | 1674 Views

MSME | Performance of Emergency Credit Line Guarantee Scheme

16 March 2021 at 17:42

As informed by NCGTC, the implementing agency for ECLGS, as on 28.2.2021, cumulative sanction of loans stood at Rs 2.46 lakh crore against which guarantees for a total amount of Rs 2.14 lakh crore to more than 92.27 lakh borrowers.

Posted in Corporate Law | 1467 Views

324 companies filed for bankruptcy between 2018 to 2020

16 March 2021 at 17:33

As per data provided by the National Company Law Tribunal (NCLT), 149 in the year 2018, 103 in the year 2019 and 72 in the year 2020 making a total of 324 companies which have filed for bankruptcy during the aforesaid three years period.

Posted in Corporate Law | 1155 Views