The Ministry of Corporate Affairs vide its notification dated 24th March 2021 issued the commencement of Section 23 and Section 45 of the Companies (Amendment) Act, 2020. Notification: http://www.mca.gov.in/Ministry/pdf/CommencementNotification_24032021.pdf Section 23 of the Companies (Amendment) Act, 2020 seeks to amend Section 124 of the Companies Act 2013by replacing the sub-section (7) of the same. Similarly,…
Section 230 to 240 of the Companies Act, 2013 contains provisions of ‘Compromises, Arrangements, and Amalgamations’, that covers: Compromise or arrangements, Mergers and amalgamations, Demergers, Corporate Debt Restructuring, Fast track mergers (process for small companies/holding subsidiary companies), Takeovers, Cross border mergers, Amalgamation of companies. Corporate Restructuring: Restructuring is an act by which a company can…
Section 192 of Companies Act 2013 seeks to provide the manner in respect of regulation of arrangements between a company and its directors in regard to the acquisition of assets for consideration other than cash. This clause furnishes that such arrangements shall require prior approval of members of the company by a resolution in general…
Mergers and amalgamations are the processes of amalgamation of two or more entities/companies through inorganic means.It is a time-consuming process for all companies irrespective of their size, net worth, and turnover.This procedure wascomplex and timetaking for all stakeholders involved in the process.The process involves:- Drafting a merger scheme Taking judicial approval for the scheme Getting…
Secretarial Audit was initiated by MCA under section 204 of the Companies Act, 2013read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Secretarial Audit is a process by which the compliances with the provisions of various laws and rules/regulations/procedures, maintenance of books, records, etc., are duly checked by the independent practicing Company Secretary.The…
The Ministry of Corporate Affairs has vide notification dated 05th May 2020 has relaxed the provisions of conducting the Annual General Meeting (AGM) by allowing conducting AGM through Video Conferencing or other Audio-Visual Means. The ministry has published the below requirements subject by which the AGM can be conducted through OAVM or VC: The companies…
The Ministry of Corporate Affairs has vide its notification dated 17thJune 2020 (General Circular No. 23/2020) introduced the Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013and further amended by notification dated 28th September 2020 by General Circular no 32/2020. As the relaxation from…
Alternative dispute resolution (ADR) as its name suggests the alternative way to resolve your disputes. So, ADR refers to a variety of processes that help parties resolve disputes without a trial. Typical ADR processes include arbitration,mediation,neutral evaluation, and collaborative law. These processes are generally confidential, less stressful,and less formal than traditional court proceedings. Advantages of…
Provision of Buy Back is covered under section 68, 69, and 70 of the Companies Act, 2013 and Rule 17 of Companies (Share Capital & Debenture) Rules, 2014 The maximum amount of Buy back by the company: Under the provisions of the Companies Act,2013 the maximum amount of buy back permissible is 25% of paid-up…
Intellectual property means creation of the minds, such as designs, artistic, symbols, names, images, literary work, and inventions used in commerce and protected by law. Five categories are there in Intellectual property. 1. Trademarks Trademarks Act 1999 (TM Act) Process of Trademark Registration Make an application for trademark registration. Once registration is done the “Official…
