[To be published in the Gazette of India, Extraordinary, Part ll, section 3, sub-section (ii)l Government of India Ministry of Corporate Affairs ORDER New Delhi, the 3oth June, 2016. S.O. _ (E). – Whereas, the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act) received the assent of the President on… Read More »
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II, SECTION 3 SUB_SECTION (i) ] Government of India Ministry of Corporate Affairs Notification Dated 29.06.2016 G.S.R. _ (E). – In exercise of the powers conferred by sections 73 and 76 read with sub_ section (1) of section 469 of the Companies Act, 2013 (18 of… Read More »
Clarification that HUF cannot be a partner but its karta or any individual of HUF can be a partner in a partnership firm in its individual capacity and not the HUF. – (23-06-2016)
Auditor Duties and Reporting under Companies Act 2013 Duty of the Auditor to Inquire [section 143(1)]:- Amongst other matters, Auditor has to inquire into the following matters, namely:— (a) whether loans and advances made by the company on the basis of security have been properly secured and whether the terms on which they have… Read More »
Notwithstanding The expression “notwithstanding” is potent and it could mean only “despite”, “in spite of” and “nevertheless” (see Khaizar Basha v. Indian Airlines Corpn. AIR 1984 Mad. 379). A clause beginning with the expression “notwithstanding anything contained in the Act and in some particular provision in the Act or in some particular Act or in… Read More »
Section – 434 of Companies Act, 2013 Sub-sections (1)(a) and (b) of section 434 enforced w.e.f 1-6-2016 vide NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], DATED 1-6-2016. Transfer of certain pending proceedings. 434. (1) On such date as may be notified by the Central Government in this behalf,— (a) all matters, proceedings or cases pending before the Board… Read More »
Section – 433 of Companies Act, 2013 Enforced w.e.f 1-6-2016 NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], Limitation. 433. The provisions of the Limitation Act, 1963 (36 of 1963) shall, as far as may be, apply to proceedings or appeals before the Tribunal or the Appellate Tribunal, as the case may be.
Section – 431, Companies Act, 2013 Enforced with effect from 1-6-2016 ,NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV] Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings. 431. No act or proceeding of the Tribunal or the Appellate Tribunal shall be questioned or shall be invalid merely on the ground of the existence of… Read More »
Section – 430 of Companies Act, 2013 Enforced w.e.f 1-6-2016 ,NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], Civil court not to have jurisdiction. 430. No civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the Tribunal or the Appellate Tribunal is empowered to determine by or under this Act or… Read More »
Section – 429 of Companies Act, 2013 Enforced w.e.f 1-6-2016 NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], DATED 1-6-2016. Power to seek assistance of Chief Metropolitan Magistrate, etc. 429. (1) The Tribunal may, in any proceeding relating to a sick company or winding up of any other company, in order to take into custody or under its control… Read More »