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...
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,...
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...
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...
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
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...
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...
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...
FAQs issued by I.T. dept. on UDIN
After noticing the fake certifications by Non-CAs misrepresenting themselves as Chartered Accountants which deceived the authorities and stakeholders, the Institute of Chartered Accountants of...
SEBI: Additional Payment Methods like ASBA for Payment of Balance Money in Calls for...
The Securities and Exchange Board of India (SEBI) on Tuesday this week has introduced additional payment mechanism, including Application Supported by Blocked Amount (ASBA),...
Central Govt. extends the Emergency Credit Line Guarantee Scheme (ECGLS) to November 30, 2020
On Monday this week, the Government of India has announced the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs by one...
CBDT designates Court of Munsiff No. 3, Kamrup (M), Guwahati as Special Court for...
On the date 28th October 2020, the Ministry of Finance has issued a notification which states that the Central Board of Direct Taxes (CBDT)...
MHA directs NGOs seeking Foreign Donations to open FCRA Account at the SBI’s New...
The Ministry of Home Affairs (MHA) has directed all NGOs registered under the Foreign Contribution (Regulation) Act (FCRA), 2010, to open or maintain an...
Madras HC supports legal validity of RBI’s circular on Additional Tier 1 Capital Bonds...
The Madras High Court has supported the legal validity of the Reserve Bank of India’s (RBI) circular on additional Tier 1 Capital bonds while...
CG appoints three external members to RBI’s Monetary Policy Committee
The Government of India has appointed three economists- Ashima Goyal, professor, Indira Gandhi Institute of Development Research, Jayanth R. Varma, professor, Indian Institute of...
MCA announces extension of Fresh Start Scheme and the LLP Settlement Scheme, 2020 till...
Ministry of Corporate Affairs (MCA) has announced the extension of the Companies Fresh Start Scheme, 2020 and the LLP Settlement Scheme, 2020 till 31st December...
MCA: Extends Time for conducting EGMs through Video Conferencing
The time for conducting Extra-Ordinary General Meetings through Video Conferencing has extended by the Ministry of Corporate Affairs (MCA) till the date of 31st...
MCA notifies the Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020
The Ministry of Corporate Affairs (MCA) has notified on September 24, 2020, the new Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020...
IRDAI approves insurance firms to conduct video-based KYC
The Insurance Regulatory and Development Authority of India (IRDAI) on 21st September 2020 has allowed life and general insurance companies to use Video-Based Identification...
SEBI clarifies on Collection and Reporting of Margins by Trading Member (TM) / Clearing...
On September 15, 2020, the Securities Exchange Board of India (SEBI) issued a circular for clarifying the issue related to the Collection and Reporting...
Ministry of Commerce and Industry notifies Streamlining of UQCs in DGFT’s EDI system &...
The Government of India and Ministry of Commerce and Industry released a notification for the streamlining of Unit Quantity Codes (UQCs) in the Director-General...
RBI ordered banks for Automation of Income Recognition, Asset Classification and Provisioning processes
All the banks were directed by the Reserve Bank of India to introduce an automated IT-based system for asset classification and provisioning calculation and...
Relaxation provided to LLPs/Companies during the lockdown period by MCA
On September 15, 2020, the Union Minister of State for Finance & Corporate Affairs, Shri Anurag Singh Thakur stated about the various steps taken...
MCA: Extension of the last date of filing Cost Audit Report announced.
The last date of filing of CRA-4 (form for filing of the cost audit report) for FY 2019-20 under the Companies Act, 2013 has...
Priority Sector Lending Guidelines got revised by RBI
The Priority Section Lending (PSL) Guidelines got revised by the Reserve Bank of India (RBI). A thorough study was conducted about the priority section...
MCA relaxed the Deposit Norms for Startup Companies
In accordance to the Covid-19 pandemic situation the Ministry of Corporate Affairs (MCA) on September 7 ,2020, amended the depository norms for the startup...
MCA: Extension of time given to hold AGM for FY 2019-20
On September 8, 2020, the Ministry of Corporate Affairs (MCA) gave a major sense of relief to about 12 lakhs Companies by extending the...