I. INTRODUCTION: Section 12 and 13 of the Companies Act, 2013 and Companies (Incorporation) Rules, 2014 states the law and procedure regarding having a registered office of the Company and shifting of registered office of the Company. Provisions and procedures relating to shifting of Registered Office (RO) from one state to another state are as […]
SPICe – Simplified Proforma for Incorporating Company Electronically Ministry of Corporate Affairs (MCA) has recently introduced SPICe Form INC-32 which is a Simplified Proforma for Incorporating Company Electronically through Companies (Incorporation) Fourth Amendment Rules, 2016. SPICe or Form INC-32 can help incorporate a company with a single application for: reservation of name incorporation of a new […]
I. Introduction: Whistle Blowing is nothing but calling the attention of top level management to some malafide activities happening within an organization. A whistle blower may be an employee, former employee or member of an organization, a government agency, who have willingness to take corrective action on the misconduct. As per Section 177 of the […]
I. Introduction: Nidhi Company is a company incorporated as such with an objective of: Cultivating the habit of thrift; Saving amongst its members; Receiving deposits from its members; and Lending money to it members. II. Procedure to setup a Nidhi Company: Rule 4 of NIDHI Rules 2014 provides that: A Nidhi Company should be incorporated […]
I. INRODUCTION Section 140 of Companies Act, 2013 and Rule 7 of Companies (Audit and Auditors) Rules, 2014 states the law and procedure regarding removal of auditor before expiry of his term. II. SECTION 140(1) – REMOVAL OF AUDITOR BEFORE THE EXPIRY OF HIS TERM Section 140(1) of the Act provides for removal of auditor before […]
I. Introduction: Merger/amalgamation is a restructuring tool which helps companies in expansion and diversification of their business and to achieve their under lying objectives. In commercial parlance, merger essentially means an arrangement whereby one or more existing companies merge their identity into another to form a new and different entity which may or may not […]
“Doing good is not a private act between a bountiful giver and a grateful receiver, it is a prudent social act”. – Benjamin Franklin The practice of Corporate Social Responsibility (“CSR”) as a paradigm for organizations and businesses to follow has evolved from its early days as a slogan that was considered trendy by some […]
I. INTRODUCTION A company which does not intend to carry on its operations can apply for removal of its name to the Ministry of Corporate Affairs or the Registrar of Companies can remove or strike off a Company name, if it has reasonable cause to believe so. Striking off of the company’s name by the […]
BACKGROUND Hon’ble President has given his assent to Companies (Amendment) Ordinance, 2018 with effect from 02nd November 2018. Companies (Amendment) Ordinance, 2018 amends 31 Provisions of Companies Act, 2013. President gives assent to promulgation of the Companies Amendment (Ordinance), 2018.The recommendation of the Union Cabinet for promulgation of the Companies Amendment (Ordinance), 2018 has been […]
Here we get into complete details and know-how related to Form 11 and Income tax filing guide. It will give you answers to all your questions and related information. LLP Form 11 – Annual Return LLP Protocol 11 is the Annual Return of the Limited Liability Partnership (LLP). The arrival must be e-recorded every year […]
The directors of a company need to file a declaration which is Form 20A at the time of commencement of business. This declaration has to be verified by a Chartered Accountant (CA) or a Company Secretary (CS) or a practising Cost Accountant. Introduction to Form 20A As per the Companies (Amendment) Ordinance 2018, Section 10A, […]
If a company is formed, keeping in mind that it will have to undertake future projects and if such a company has no transaction history, then it is referred to as a dormant company. All types of firms, ranging from OPCs to Private Limited Companies may apply for dormancy status depending on their financial history […]
Revised Schedule VI is applicable on all companies except insurance or banking company, or any company engaged in the generation or supply of electricity. The highlights of the changes in the revised Schedule VI in comparison to the earlier Schedule VI are discussed below. The latest changes to Schedule VI permit only the vertical format for preparation […]
Q.1. How can foreign companies open Liaison /Branch office in India? Ans. A. With effect from February 1, 2010, foreign companies/entities desirous of setting up of Liaison Office / Branch Office (LO/BO) are required to submit their application in Form FNC along with the documents mentioned therein to Foreign Investment Division, Foreign Exchange Department, Reserve […]
The Government of India has taken several measures to facilitate FDI by Foreign Companies in India including simplified registration process, limited legal compliances, permission for FDI under Automatic Route (except for areas like Defence, Broadcasting, Multi Brand Retail, Telecom, etc.) where sectarian cap (FDI Limits) are prescribed. For a specific query on the Sector you […]