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 friendl..
Start-up means an entity, incorporated or registered in India not prior to ten years, with annual turnover not exceeding INR 100 crore in any preceding financial year, working towards innovation, development, deployment or commercialisation of new products processes or services driven by technology or intellectual property. Eligibility criteria for start-up companies: ..
Section 188 along with Companies (Meeting of the Board and its Power) Rule,2014 deals with the"Related Party Transaction".Further few provisions of Section 177 is also applicable since the companies which required to constitute the Audit Committee are required to take the approval of the Audit Committee for Related Party Transactions. Before going into detail provisions, it ..
The Ministry of Finance issued a clarification that the Financial Year has not been extended. The clarification was issued to clear the confusion about the extension of the Financial Year caused after a notification was released by the Government of India about the amendments in the Indian Stamp Act. After the notification was released many people misquoted it and a fake news was circ..
INTRODUCTION In general terms, the word transfer means a conveyance of property, especially stocks and shares, from one person to another. And one of the major features of a Company is 'Free Transferability of shares’ subject to few restrictions on Private Companies prescribed under the Articles of Association of the Company. Now, Transfer of Share..
Issue of Sweat Equity Shares In the current scenario, an employee is the key to the success of every organization and every employee deserves to be compensated for the efforts made by them to make the organization successful in the competitive market and the issue of Sweat Equity shares is the best way to compensate them. Now through this article, we are tr..
What is Form INC-20A? As per the provisions of Section 10A of the Companies Act, 2013, a Company incorporated after the commencement of the Companies (Amendment) Ordinance, 2018 (2nd November 2018) and having a share capital shall not commence any business or exercise any borrowing powers unless a declaration (INC-20A) is filed by a director within a period of&nb..
In order to operationalize the Companies (Amendment) Act, 2019, the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 has been drafted for carrying out amendments in the Companies (CSR Policy) Rules, 2014. Definitions amended/ newly inserted Amended Definition of Corporate Social Responsibility The following ..
Due to the spread of Coronavirus(COVID-19)the Security and Exchange Board Of India(SEBI) has given relaxations from compliance of certain provisions of the SEBI Regulations 2015. The timelines for certain filings as required under the provisions of the LODR have been extended for this quarter. CIRCULAR SEBI/HO/CFD/CMD1/CIR/P/2020/38 March 19, 2020 </p..
The Companies Amendment Bill 2020 was introduced in Lok Sabha on March 17, 2020. Continuing its endeavors in increasing the Ease of Doing Business in India, the Government has proposed to decriminalize those minor offenses which do not harm the public at large and are only becoming a burden on the legal framework. Govt. has also proposed to bring down the amount of the penalties that can be imp..
With the introduction of the concept of 'Registered valuer' by Companies Act 2013, the requirement for a professional and methodological approach to valuation has arisen. Not a while ago, for the majority of professionals, the valuation of an equity instrument of a company or a financial asset generally entails the calculation of the ' Net assets Value' approach of valuation whi..
Ministry of Corporate Affairs on March 04, 2020 vide General Circular No. 6/2020 has announced LLP Settlement Scheme-2020-reg. ("Scheme") to give relief to the Limited Liability Partnerships (LLPs) which have defaulted in filin..
Frequently Asked Questions on LLP Settlement Scheme, 2020 issued by the Ministry of Corporate Affairs, Government of India Q. 1. What is LLP Settlement Scheme, 2020? A. 1. “LLP Settlement Scheme, 2020″ is a scheme to give a Onetime relaxation in additional fees to the defaulting LLPs to make good their default by filing pending d..
NCLAT Chairperson exhorts NCLAT & NCLT members to stick to time limits for cutting delays in insolvency cases Every delay may have 100 good explanations, but the fact still remains that there is a delay, said Justice S. J. Mukhopadhaya, Chairperson, NCLAT. He was speaking here today at the colloquium on “Judicial Sensitisation on Insolvency Law and Associate..
Surrender of Insurance Policy means to cash of life insurance policy before benefits are dur to be paid. The Surrender Value of an Insurance Policy is the amount given to the insured at a time, when he is unable to pay premium related to Insurance Policy. At a particular time, when insured is not able to pay further premium and he has paid earlier premiums related to surrendered insurance polic..