corporate law

Nidhi Companies  to apply to the Central government for updation of their status/ declaration as Nidhi Company in Form NDH-4 in accordance to  amended provisions of the Companies Act and Nidhi Amendment Rules 2019 In order to make regulatory regime for Nidhi Companies more effective and also to accomplish the objectives of transparency & investor friendliness in corporate environment of the country, the Central Government has recently amended the provisions related to NIDHI under the Companies Act and the Rules (effective from 15.08.2019..

SECTION 188: RELATED PARTY TRANSACTION: Except with the consent of BOD given by the resolution and subject to such conditions as prescribed, no Company shall enter into contract or arrangements with related party with respect to: Sale, purchase or supply of any goods and materials, Selling or otherwise disposing of, or buying, property of any kind, Leasing property of any kind, Availing or rendering any services, Appoin..

1. Compliance requirement under Income Tax act, 1961 Applicable Laws/Acts Compliance Particulars Due Dates Revised Due Dates ..

I. New Classification for MSMEs As announced as a part of economic stimulus and reforms in response to Covid 19, the Ministry of Micro, Small and Medium Enterprises has modified the classification criteria for MSMEs as follows- Existing Criteria- Classification <str..

The procedure to change the registered office from one State to another is specified under the provision of Section 12(5), 13(4) read with Rule 30 of Companies (Incorporation) Rules, 2014 which is in step by step form is as follows: - 1. CONVENING BOARD MEETING- Hold Board meeting as per the provisions of SS-1 &amp; Companies Act 2013: - &bull; Consider proposal for shifting of registered office. &bull; Alteration of Memorandum of Association (MOA) of..

Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020. MINISTRY OF CORPORATE AFFAIRS (MCA)vide Gazette IDCG-DL-E-29062020-220254 and G.S.R. 420(E) dated 29th June, 2020 has issued and published the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020f urther to amend the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. Key Highlights: <..

What is a private placement? A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than on the open market. It is an alternative to an initial public offering (IPO) for a company seeking to raise capital for expansion. Section 42 of the Companies Act, 2013 defines &lsquo;Private Placement&#39;: Any offer or invitation to subscribe or issue of securities to a select group of persons by a company (other than by..

Know your right as a consumer As a consumer, you are entitled to certain rights when you purchase something from the market, much like any other individual living in society being entitled to societal rights. Any problems you have as a consumer and all the rights that you are entitled to as a consumer along with how to go about the procedure in case any of those rights are violated are all mentioned in this Act. Ta..

Employees&#39; Provident Fund Organization (EPFO), India Ministry of Labour&amp; Employment, Government of India has issued Instructions for transfer online EPF during this Pandemic situation (COVID-19)&quot; In case of change of Job, it is important to switch EPF account from previous employer to the new employer. Prerequisites: i. Must have active UAN (Universal Account Number) ii. If UAN is inactive, kindly activate at <a..

Generally, the director is appointed in the General Meeting of the Company. But sometimes the situation may require to appoint a director on an urgent basis and in that case, the Board cannot wait to convey the general meeting and appoint the director, as it requires lots of formality and hence, the decision may get delayed. ADDITIONAL DIRECTOR {Section 161(1)} As per section 149(1) of the Companies Act, 2013 only an individual can be a Director of the Company. If the Bo..

What is Nidhi Company Registration? Planning to start a finance business the Nidhi Company is the best suitable business structure for an early-stage startup. The young entrepreneurs who want to enter the finance business, we suggest registering Nidhi Company. Nidhi Company is also a type of NBFC and it is registered under the Companies Act. 2013 Nidhi Company is exempted from RBI Regulation. You will only need to select and finalize the directors and shareholders. You can registe..

What is a Non-Banking Financial Company? A Non-Banking Financial Company or commonly called NBFC is a company that is registered under the Companies Act and is engaged in wide-ranging financial services. These companies engage in the business of loans and advances, acquisition of shares, stocks, bonds, debentures, securities issued by Government or local authority or other marketable securities of similar nature like leasing, hire-purchase, insurance business or chit business...