Corporate Law News
Highlights of the Companies Bill
09 August 2013 at 10:39Highlights of the Companies Bill (as passed by the Lok Sabha on 18.12.12 and by the Rajya Sabha on 08.08.13) • The Bill has 470 clauses as against 658 Sections in the existing Companies Act, 1956. • The entire bill has been divided i
Parliament Passes the Historic Companies Bill 2012
09 August 2013 at 10:07The Parliament has passed the historic Companies Bill 2012, moved by Shri Sachin Pilot, Minister of Corporate Affairs. The Bill was passed by the Rajya Sabha here today which had already been passed by the Lok Sabha many months ago (in
The Total Number of Companies in the Official Registry Crosses 13 Lakh
17 July 2013 at 12:12The total number of companies in the official Registry of the Ministry of Corporate Affairs has crossed the 13 lakh mark. As on 31.05.2013, there were 13.21 lakh companies in the Registry. Of these, as many as 2.6 lakh companies have been closed for
Name availability guidelines, 2011 - Registration of Electoral Trusts as Companies under Section 25 of the Companies Act, 1956
01 July 2013 at 12:14General Circular No. 12/2013 28.06.2013 Name availability guidelines,2011 - Registration of Electoral Trusts as Companies under Section 25 of the Companies Act,1956
Power of ROCs to obtain declaration/ affidavits from subscribers/first directors at the time of incorporation
30 May 2013 at 12:06Power of ROCs to obtain declaration/ affidavits from subscribers/first directors at the time of incorporation
Corporate Social Responsibility and the Existing Companies Law
01 May 2013 at 10:48There is no provision for Corporate Social Responsibility (CSR) spending by companies in the existing Companies law i.e. Companies Act, 1956. However, the Companies Bill, 2012 incorporates a provision of CSR under Clause 135. Giving this informati
New Norms for XBRL Filing
30 April 2013 at 17:50New norms have been put in place for Extensible Business Reporting Language (XBRL) filing with effect from 6th October, 2011 for select class of companies. For the financial years 2010-11 and 2011-12 a total of 2,90,39 and 2,57,86 companies respe
Special Task Force Constituted in the SFIO to Investigate-The Affairs of Certain Chit Fund Companies
26 April 2013 at 11:51The Ministry of Corporate Affairs has taken note of the misuse by certain “Chit Fund Companies” who have raised huge sums of money from the public at large. The State Governments are the appropriate authorities for regulation of such c
Monetary Ceilings of Salaries for the Corporate Sector including CEOS and CFOS
23 April 2013 at 12:06There are no monetary ceilings of salaries laid down in the Companies Act,1956 for personnel serving in the corporate sector including CEOs, CFOs and Directors thereof. Giving this information in written reply to a question in the Rajya Sabha toda
Provision for Corporate Social Responsibility
23 April 2013 at 12:02Under Companies Act, 1956 there is no provision for Corporate Social Responsibility (CSR) but the Companies Bill, 2012 incorporates a provision of CSR under Clause 135. This Clause states that every company having net worth of Rs. 500 crore or mor
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