Corporate Law News

Highlights of the Companies Bill, 2011

20 December 2012 at 11:47

Highlights of the Companies Bill, 2011 (as passed in Lok Sabha on 18.12.12) The Bill has 470 clauses as against 658 Sections in the existing Companies Act, 1956. The entire bill has been divided into 29 chapters.

Posted in Corporate Law | 7 comments | 32415 Views

Salient Features of the Companies Bill 2011

19 December 2012 at 15:28

The Companies Bill, 2011, which was passed by the Lok Sabha yesterday, on its enactment will allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of companies in

Posted in Corporate Law | 3 comments | 24480 Views

Compliance with the Requirements of Corporate Governance

18 December 2012 at 11:53

Compliance with the requirements of Corporate Governance as laid down in the Companies Act is looked into by the Registrars of Companies and suitable action is initiated wherever there is failure to comply with the law. Giving this information in

Posted in Corporate Law | 6807 Views

253277 companies have not filed their Annual return in 2010-11

14 December 2012 at 16:29

De-Registration of Companies During the year 2010-11, 2,53,277 companies have not filed their Balance Sheets and Annual Returns. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corpora

Posted in Corporate Law | 5 comments | 10311 Views

Time limit for XBRL filing extended again to 15 Jan 2013

12 December 2012 at 15:54

MCA extended time limit of filing Financial Statement in XBRL Mode upto 15 January 2013 General Circular No. 39/2012 12.12.2012

Posted in Corporate Law | 12990 Views

Incorporation of the Corporate Social Responsibility Provision in the New Companies Bill

11 December 2012 at 13:03

Clause 135 of the Companies Bill, 2011 inter alia, provides for the specified companies to spend at least 2% of the average net profits (of last 3 years) in pursuance of the company’s Corporate Social Responsibilities (CSR) policy and in cas

Posted in Corporate Law | 2 comments | 8694 Views

MCA 21 Project - Achievements and Continuation

11 December 2012 at 13:03

The Government is implementing an e-governance initiative called MCA 21 Project to ensure the efficiency of the core services regarding company affairs. Giving this information in written reply to a question in the Parliament, Shri Sachin Pilot, M

Posted in Corporate Law | 5316 Views

Independent Regulator for Auditors

05 December 2012 at 12:10

The Parliamentary Standing Committee on Finance which examined the Companies Bill, 2009 and the Companies Bill, 2011 had recommended that the National Advisory Committee on Accounting and Auditing Standards (NACAAS), proposed in the Companies Bill

Posted in Corporate Law | 1 comments | 13410 Views

Protecting the Interests of Small Investors

01 December 2012 at 10:52

The Ministry of Corporate Affairs has received complaints against 3, 65 and 19 companies during 2010-11, 2011-12 and 2012-13 (up to 31-10-2012) respectively which are doing business of money circulation schemes with the promise of giving high retu

Posted in Corporate Law | 2 comments | 6813 Views

Investigations by Serious Fraud Investigation Office

01 December 2012 at 10:52

Government has said that the Ponzi and Multi-Level Marketing (MLM) schemes fall within the purview of ‘Money Circulation’ which is an offence under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. That Act is administ

Posted in Corporate Law | 1 comments | 8130 Views