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...
Tamil Nadu AAR: GST exempted on supply of Dress, School Bag, Boots etc. to students without consideration to Govt/Govt Aided schools

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,...
SEBI

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All About STRUCTURED DIGITAL DATABASE Certificate Unpublished Price Sensitive Information Regulation 2(1)(n) of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 defines the expression ‘unpublished...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,...
NCLT

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...
MCA: Extension of time given to hold AGM for FY 2019-20

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...
MCA

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...

New LLP Portal V3 of MCA Remains Jittery Weeks After Inception

New LLP MCA filing portal V3 is not working since it’s inception on 5th March 2022. Just like the new Income portal when it...

Companies (Indian Accounting Standards) Amendment Rules, 2022

MCA notifies Companies (Indian Accounting Standards) Amendment Rules, 2022 vide Notification No. G.S.R 255(E) Dated: 23rd March, 2022 and further amended Companies (Indian Accounting Standards) Rules, 2015. MINISTRY...
Independent Director Registration - A Detailed Guide on Step by Step Process, Law and Open Issues

Removal of Director Disqualification

Process to Reactivate or Restore Disqualified Director DIN Filing Writ Petition with Respective High CourtObtaining High Court OrdersSubmission of High Court Orders with Relevant...

Limited Liability Partnership (Amendment) Bill, 2021

LLP Amendments The Rajya Sabha on August 9, 2021, passed the Limited Liability Partnership (Amendment) Bill, 2021 ("Bill"). The Bill seeks to amend the...

Central Bank Digital Currency (CDSC) is the Future of Digital Money in India

Introduction The idea of “Central Bank Digital Currencies” (CBDC) is not a recent development. Some attribute the origins of CBDCs to Nobel laureate James Tobin2,...
MCA

Indian corporate universe will now try to gear up effective operative compliance

With four amendments in act itself and over 530 notifications and circulars since its promulgation, the new companies act has prepared the necessary ground...
MSME

MSMEs requesting suspension of Insolvency proceedings, but MCA is not in favour

The government seems to be in no mood to suspend the Insolvency process, even as smaller companies have requested the Corporate Affairs Ministry to...
MCA

Important Changes by MCA w.e.f. 01 April 2021

The ministry of corporate affairs (MCA) has amended various rules under the companies law pertaining to audits, auditors, and accounts. Besides, by making changes...
Central Scrutiny Cell & Online Hearings in MCA w.e.f 1st October, 2021

Central Scrutiny Cell & Online Hearings in MCA w.e.f 1st October, 2021

MCA i.e. Ministry of Corporate Affairs recently released a Press Release No. 1695473 dated 05th February, 2021 regarding the Implementation of MCA 21 Version...
10 Major Changes in CARO, 2020 vs CARO, 2016 in Fastrack Summary Mode

CARO 2020 Deferred By One Year to 1st April, 2020 – List of Key...

The Ministry of Corporate Affairs (MCA) has deffered the applicability of the notified the Companies (Auditor’s Report) Order (CARO) 2020, till 1st April, 2021. The notification seeks...
MCA Extends DPT-3 Due Date and Reporting Period

Companies (Appointment and Qualification of Directors) fifth Amendment Rules, 2020 w.e.f 18th December, 2020

The Ministry of Corporate Affairs vide notification dated 18 December, 2020 has passed the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2020.  Summary...
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