Held In our view, Section 138 of the Act does not admit of any necessity or scope for reading into it the requirement that the directors of the Company in question must also be issued individual notices under Section 138 of the Act. Such directors who are in charge of affairs of the Company and… Read More »
Rule – 28, Companies (Incorporation) Rules, 2014 28. (1) An application seeking confirmation from the Regional Director for shifting the registered office within the same State from the jurisdiction of one Registrar of Companies to the jurisdiction of another Registrar of Companies, shall be filed by the company with the Regional Director in Form no.INC.23… Read More »
RULES FRAMED UNDER COMPANIES ACT, 2013 CHAPTER I : PRELIMINARY COMPANIES (SPECIFICATION OF DEFINITIONS DETAILS) RULES, 2014 In exercise of the powers conferred under sub-clause (ix) of clause (76), sub-clause (iii) of clause (77) of section 2, read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the… Read More »
All Metros asked to speed up appointment of Independent Directors and promote efficiency Views of respective States to be taken on a Regulator for Metros Centre lauds Lucknow Metro progress All Metros across the country being built and operated with Central Government equity have been asked to promote efficiency while hiring manpower and in procurement… Read More »
NOTIFICATION [F.NO.3/516/2015-CL.II], DATED 29-4-2016 In exercise of the power, conferred by sub-section (1) of section 458 of the Companies Act (18 of 2013), the Central Government being satisfied that circumstances warrant, hereby delegates the powers to appoint Inspectors for inspection of books and papers of a company under sub-section (5) of section, 206 as ordered… Read More »
19th April 2016 Cost Accounting Standards Board (CASB), the standard-setting body of the Institute, has approved the release of Exposure Draft of Guidance Note on ‘Treatment of Costs Relating to Corporate Social Responsibility (CSR) Activities’ in its 82nd meeting held on 16th March 2016. The exposure draft is hosted on the Institutes website for obtaining… Read More »
High Level Committee Report on CSR Compliance A High Level Committee, set up by the Ministry of Corporate Affairs to suggest measures for monitoring the progress of implementation of Corporate Social Responsibility (CSR) policies by companies, submitted its report on 22nd September, 2015. The report, including the recommendations of the Committee, has been placed in… Read More »
Financial Transactions of Companies The Companies Act, 1956/2013 mandate that only individuals having Director Identification Number, which is allotted on verification of ID and address proof can become directors of a company. Further, the law requires physical verification of registered office addresses of companies by practicing professionals and intimation to the Registrar of Companies in… Read More »
Indian Accounting Standards The Road Map for implementation of Indian Accounting Standards (Ind AS) for commercial Banks (Banks), Insurance Companies (Insurers) and Non-Banking Financial Companies (NBFCs) was announced on 18/01/2016 and implementation schedule is drawn as follows: (i) Banks (excluding Urban Cooperative Banks and Regional Rural Banks), All-India Term-lending Refinancing Institutions (i.e. Exim Bank, NABARD,… Read More »
COMPANIES (ACCOUNTING STANDARDS) AMENDMENT RULES, 2016 GENERAL CIRCULAR NO.4/2016 [F.NO.01/01/2009-CL-V], DATED 27-4-2016 Stakeholders have sought clarifications with regard to the accounting period for which the accounts would need to be prepared using the Accounting Standards, as amended through the Companies (Accounting Standards) Amendment Rules, 2016. The matter has been examined in the Ministry and it… Read More »