Category Archives: Companies Act 2013

ICAI clarified auditor’s rotation under the SQC 1

By | October 1, 2016

1. The Council of the Institute of Chartered Accountants of India (ICAI), at its 359th meeting held on September 16-17, 2016 considered an issue regarding the difference in requirements relating to the auditor’s rotation under the SQC 1, “Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and… Read More »

Amendment in Maharashtra Settlement of Arrears in Disputes Act 2016

By | September 21, 2016

In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Settlement of Arrears in Disputes (Amendment) Ordinance, 2016 (Mah. Ord. XXIII of 2016), is hereby published under the authority of the Governor. By order and in the name of the Governor of Maharashtra, P. H. MALI,… Read More »

Schedule V of Companies Act Amended by MCA

By | September 13, 2016

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (ii)] Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 12th September, 2016. S.O.  (E). In exercise of the powers conferred by sub-sections (1) and (2) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government… Read More »

Compounding for delay in appointment of women director

By | September 12, 2016

NCLT Compounding for delay in appointment of women director Company was supposed to appoint woman  director by 31.12.2014  but  appointed only  in March  2016 after  a delay of 14 months, thus violating Sec.149 of CA 2013 and attracting punishment prescribed u/s 172 of the  Act.  ROC initiated criminal proceedings u/s 251 of CrPC read with Sec.450… Read More »

CARO 2016 Applicability

By | September 11, 2016

CARO 2016 Applicability BUY CARO 2016 Applicability CARO-2016 has been issued by the Central Government in pursuance with the provisions of sub-section (11) of Section 143 as an additional matters to be included in the Report of Auditors. Therefore, CARO-2016 should be complied by the Statutory Auditor of every company to which it applies. Further,… Read More »