Voluntary Corporate Exit Rules Amended to Accommodate CPACE for Faster Processing of Striking off...
New Forms STK-2, STK-6 & STK-7 Prescribed Vide Notification Dated 17th April, 2023. The ministry also replaced three forms that are related to the...
Applicability of Audit Trail Provisions on Companies w.e.f 1st April, 2023
Considering the applicability date of the amended audit rules, it implies that the auditor is not required to assess appropriateness of audit trail of...
Legal and Regulatory Framework for Setting Up a Subsidiary in India
Corporates who wish to Enter Indian Markets by Setting up Subsidiary in India must ensure statutory and legal framework mentioned hereunder is Duly complied.
Understanding...
KPMG Faces Backlash after Clean Report Issuance on SVB and Signature Bank – Analyzing...
Accounting firm KPMG, one of the ‘Big 4’, that gave a clean chit to Silicon Valley Bank and Signature Bank, days before they collapsed,...
How Crowdfunding Platforms Violate the Provisions of Companies Act, 2013
Overall the Deal value as well as number of deals forfunding have been declining in 2022 and 2023. In other words, not only do...
Facts you need to know about Independent Director’s Databank
Independent Directors serve as an important Institution of corporate governance contributing significantly at the boards by bringing a diverse set of skills with an...
Recent Amendments Notified by MCA To Several Companies Rules and Forms
In furtherance to its earlier announcement regarding the launch of 56 (fifty-six) new forms under the Companies Act, 2013 ("Act"), the Ministry of Corporate...
FM Nirmala Sitharaman on action against inflation and why new income tax regime is...
Finance Minister Nirmala Sitharaman pointed out that the new income tax regime is "very attractive" as the tax exemption limit has been hiked to...
Consequences of Non-Appointment of Internal Auditor under the Companies Act, 2013
1. Internal Audit
As per the definition given by the Institute of Internal Auditors, USA, internal auditing is an independent, objective assurance and consulting activity...
Govt to set up central processing unit for forms filed under companies law
To ensure a faster response to corporates, the government will set up a central processing centre for handling forms filed with field offices under...
Understanding Social Audit in the Light of Latest Regulatory Changes
1. A Brief on the Concept of Social Audit
Over the last few decades, the Comptroller and Auditor General (CAG) of India has been conducting...
DGFT issued Clarification on Implementation of Paper Import Monitoring System
The Directorate General of Foreign Trade(DGFT) has issued Clarification on Implementation of Paper Import Monitoring System via issuing Circular.
The Circular Stated, “Import of products under Chapter...
Companies (Authorized to Register) Amendment Rules, 2023
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION
In exercise of the powers conferred by sub-section (1) of section 164, sub-section (1) of section 466, section 367 and...
MCA Notifies Amendment to Companies Rules, 2014 and Form URC-1
The Ministry of Corporate Affairs (MCA) has notified the the Companies (Authorised to Register) Amendment Rules, 2023 wherein the Government has amended the Companies...
Mandatory joint audit to start with big firms
The government is likely to implement phased roll-out for mandatory joint audit of companies, starting with “public interest entities” and large listed companies soon....
Applicability of Corporate Social Responsibility – Companies Act 2013
Section 135 of Companies Act, 2013 provides for provisions regarding Corporate Social Responsibility (CSR) requirements for companies. Every company falling within the prescribed threshold...
MCA to shift 56 new forms to V3 portal soon
The ministry of corporate affairs is planning to shift nearly five dozen company forms to its updated V3 portal by January, which would in...
8 Benefits to Small Company in Companies Act, 2013
1. No need to prepare Cash Flow Statement as a part of Financial Statements
As per the proviso to section 2(40) of the Companies Act,...
Structured Digital Database Compliance Certificate
All About STRUCTURED DIGITAL DATABASE Certificate
Unpublished Price Sensitive Information
Regulation 2(1)(n) of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 defines the expression ‘unpublished...
Latest Changes in Companies Act
Maintenance of books of accounts
Rule 3 of Companies (Accounts) Rules, 2014 provides the procedures for the maintenance of books of accounts by the Company.
Rule 3(1) provides that the...
MCA Registered Office Physical Verification
Registered Office is the primary location for the authorities to make any kind of correspondence. In the past times, it has been found that...
SEIS Benefit Can Be Claimed Even If you Don’t have IEC Registration
Hon’ble High court Decision Regarding SEIS benefit can’t be denied for not having IEC when services rendered No IEC required for availing benefit of...
New Form DIR 3 KYC & DIR 3 KYC Web Notified by MCA
Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2022 - G.S.R. 662 (E) - Companies Law
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 29th August,...
CoC Wisdom Cannot be Appealed in NCLT or NCLAT
Vallal RCK Vs Siva Industries and Holdings Limited And Ors. (Supreme Court Of India)
The Supreme Court on Friday said it has time and again...
Now MHA Approval Must For Director Appointment of Company if Belongs to Border Country
“Yesterday, MCA has issued Notification according to which No National of Border Sharing Country with India can be appointed as Director of a Company...
Statutory and Tax Compliance Calendar for June, 2022
Statutory and Tax Compliance Calendar for June, 2022
We have tried to compile updates till 31st May, 2022 and please note List of Compliance may...
More Chinese Companies Under MCA Scrutiny
India is probing the local units of ZTE Corp. and Vivo Mobile Communications Co. for alleged financial improprieties, according to documents seen by Bloomberg, extending an investigation into...
MCA Will Be Able To Predict Bankruptcy Soon with Financial Statements Pattern
Ministry of Corporate Affairs seeks research on database integration to predict bankruptcy
The ministry wants to use the MCA21 database to study financial statements of...
MCA registers highest ever 1.67 lakh companies in FY 2021-22
During the Financial Year 2021-22, Ministry of Corporate Affairs (MCA) registered more than 1.67 Lakh company in-corporations as compared to 1.55 Lakh companies during...
Getting Auditor to Resign Will Get Difficult – Government Set to Tighten the Norms
The government is set to tighten norms for auditors and independent directors. The move is part of a fresh overhaul of the Companies Act, which is in the...