Insolvency and Bankruptcy Board of India notifies Corporate Voluntary Liquidation Process Regulations

The regulations provide the process from initiation of voluntary liquidation of a corporate person companies, limited liability partnerships and any other persons incorporated with limited liability till its dissolution. A corporate person may initiate a voluntary liquidation proceeding if majority of the directors or designated partners of the corporate person make a declaration to the […]

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ICAI withdraws application Guide on Schedule II to Companies Act, 2013

Application Guide on the Provisions of Schedule II to the Companies Act, 2013 is no longer effective as the Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II to the Companies Act, 2013 has been issued. The Corporate Laws & Corporate Governance Committee (CL&CGC) of the Institute of Chartered Accountants […]

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MCA 21- Peak Filing Preparation 2016

ANNOUNCEMENT: Peak Filing Preparation 2016- MCA 21 As you are aware it is time of peak filing of Balance Sheet & Annual Return under the Companies Act. To avoid last minute rush and system congestion on the MCA 21 portal on account of annual filings during October / November 2016, we are quite sure that […]

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MCA NOTIFIED 8 SECTIONS OF COMPANIES ACT, 2013

Central Government using its power granted u/s 1(3) of Companies Act, 2013 appoints September 9, 2016 as the date on which the provisions of the following sections shall come into force: For List of Sections Please Refer: https://www.facebook.com/charteredscanner/photos/a.1085394274865053.1073741828.982401265164355/1165426156861864/?type=3&theater

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AMENDMENT TO SCHEDULE V OF COMPANIES ACT, 2013

Central Government using its power granted u/s 467(1) and (2) amends the Schedule V of Companies Act, 2013 (This notification shall come into force from the date of its publication in the official gazette). For Remuneration payable by companies having no profit or inadequate profit without Central Government approval Please Refer: https://www.facebook.com/charteredscanner/photos/a.1085394274865053.1073741828.982401265164355/1164532240284589/?type=3&theater  

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RESTRICTIONS ON PROMOTERS AND WHOLE-TIME DIRECTORS OF COMPULSORILY DELISTED COMPANIES

As per SEBI circular no. SEBI/HO/CFD/DCR/CIR/P/2016/81 dated September 7, 2016, SEBI issued circular relating to restrictions on promoters and whole-time directors of compulsorily delisted companies pending fulfillment of exit offers to the shareholders as follows: • In terms of section 21A of the Securities Contracts (Regulation) Act, 1956 a recognised stock exchange may compulsorily delist […]

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