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..
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 18th June, 2021 G.S.R. 419(E).—In exercise of the powers conferred by section 133, read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the National Financial Reporting Authority, hereby makes the following rules further to amend the Companies (Indian Accounting Standards) Rules, 2015, namely:- 1. Short title and commencement.- (1) These rules may be called the Compan..
SECTION 29 provides that (1) No insurer shall grant loans or temporary advances either on hypothecation of property or on personal security or otherwise, except loans on life insurance policies issued by him within their surrender value, to any director, manager, actuary, auditor, manager or any officers of the insurance company, or to any company or firm, in which any such director, manager, officer etc., holds position of a director, manager, actuary, office or partner: PROVIDED THAT ..
EPFO payroll data: 12.76 lakh net subscribers added during April, 2021 The provisional payroll data of EPFO published on 20th June, 2021 highlights that EPFO has added around 12.76 lakh net subscribers during April, 2021. Despite the second wave of COVID-19 pandemic, April 2021 registered an increase of 13.73% net subscribers addition as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll. Data reflects that the number of exit..
Background A Company prepares financial statements to indicate the performance and position of assets and liabilities and cash flows. The financial statements are prepared at each legal entity level not only from accounting perspective but also regulatory and company law requirements. The Company may have varied business interests in different companies (i.e., legal entities) through various modes including having a subsidiary, joint venture, strategic partnerships etc., While it would ..
Ministry of Micro, Small and Medium Enterprises Extends Validity of Udyog Aadhaar Memorandum from 31st March, 2021 to 31st December, 2021. Ministry of Micro, Small and Medium Enterprises vide notification no. 2347(E) dated 16.06.2021 & F. No. PY-10024/6/2021-P and G-DCMSME, made amendment to the original notification No. S.O. 2119 (E) dated 26.06.2020 and provides the extension of the validity of EM Part-II and UAMs from 31.03.2021 to 31.12.2021. This will help EM Part-II and UAMs certifi..
Ministry of Micro, Small and Medium Enterprises Extends Validity of Udyog Aadhaar Memorandum from 31st March, 2021 to 31st December, 2021 Ministry of Micro, Small and Medium Enterprises has issued an amendment to the original notification No. S.O. 2119 (E) dated 26.06.2020 vide 2347(E) dated 16.06.2021, extending the validity of EM Part-II and UAMs from 31.03.2021 to 31.12.2021. This would facilitate the holders of EM Part-II and UAMs to avail benefits of the provisions under various existing..
CONDUCTING BOARD MEETINGS THROUGH VIDEO CONFERENCING AND OTHER AUDIO VISUAL MEANS - RECENT CHANGES IN THE COMPANIES ACT The COVID-19 pandemic had profound impact on the human lives to a great extent. Simultaneously it also has changed the ways and means of doing business in India. The recent amendment of companies (meeting of board and its powers), amendment rules, 2021 dated 16th June,2021 is right move by the ministry of corporate affairs which will further ease the conducting of board meet..
Introduction As globalization is seeking its peak the world is moving towards corporatization and professionalism. Everybody knows that LLP is a modern era body corporate but the increasing demand and market blocks the very essence of the same. Therefore a need arises for the company and there our topic is the process of conversion of LLP into a Company. The Ministry of affairs passed a notification on 31st May, 2016 allowing conversion of LLP into Company under the rules known as 'Com..
Government Simplifies Registration Process for MSMEs Only PAN, Aadhaar Required for MSME Registration Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari announced simplification of process for registration of Micro, Small and Medium Enterprises. Addressing a webinar of SMEStreet GameChangers Forum this evening, Shri Gadkari said that now only PAN and Aadhaar will be required for registration of MSMEs. The Minister added that after gettin..
The author in this article covers the following topics - A. Companies Act, 2013 Perspective Applicability of CSR Meaning of CSR Consequences of Non Compliance B. Income Tax Act, 1961 Meaning of CSR Allowability of CSR Expenditure Companies Act, 2013 Perspective Applicability of CSR Section 135 of Companies Act, 2013 Every company including foreign company whose In the preceding financial year. Meaning of CSR Corporate Soci..
ANNOUNCEMENT Sub: Amendment in Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 This is to inform you that the Ministry of Corporate Affairs vide its notification dated 09th June 2021 has amended the provisions of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 to introduce the manner of transfer of shares under section 90(9) of the Companies Act 2013 to the Investor Education and Pro..