The Ministry of Corporate Affairs has vide its notification dated 19th March 2020 ameliorated the Companies (Meetings of Board and its Powers) Rules, 2014. The Rules are hereby called as Companies (Meetings of Board and its Powers) Amendment Rules, 2020.In addition to the existing amendment the Ministry of corporate affairs has again amended the Rule…
The small company concept was introduced by the government to provide various benefits to the people of India, the small company will not specifically be registered with a specific name but will be registered under a private company with a smaller amount of investment and turnover. In this blog, we will have an overview of…
A Company incorporated under the provisions of Companies Act, 2013 or any other previous laws, can be removed from the Register of Companies by the Registrar of Companies. A Company can be removed from the Register of Companies either suo moto by the Registrar or upon application by the Company itself. Section 248(1) of the…
MSMEs or Micro, Small, and Medium Enterprises contribute primarily to the socio-economic development of the country. MSMEs are governed by the Ministry of Micro, Small & Medium Enterprises in India and are also required to be registered under the Micro, Small and Medium Enterprises Development Act to avail benefits. What are Micro, Small and Medium…
Provisions related to issue of shares at discount are contained in section 53 of Companies Act, 2013. As per the provisions of said section, a company is not allowed to issue shares at discount. As per the provisions contained in the section, any shares which are issued by acompany at a discounted price shall be…
The Government of India started a new scheme which is Startup India Scheme. Under this scheme, the Government of India has authorised Department for Promotion of Industry and Internal Trade (DPIIT) for granting recognition to entities as startup. The eligibility criteria for recognition as startup is as follows- The startup should be incorporated as a…
The Government of India has been actively engaged in the process of easing provisions related to doing in business in India. Various departments of Government of India have come out with various initiatives for creating ease of doing business in India. These initiatives include ease in the process of incorporating company& LLP, their governance and…
A Company having share capital is incorporated by subscription of shares by subscribers to Memorandum of Association.The Company can have Indian Subscribers or Foreign subscribers. In case the Indian company has Foreign subscribers, it is termed as Foreign Direct Investment. The Indian Company is under obligation to report to RBI in case of any such…
Section 185 of the Companies Act, 2013 had been completely substituted by Companies (Amendment) Act, 2017 dated 07th May, 2018. Substituted Section 185: A company cannot advance any loan, including any loan represented by book debt, or give any guarantee or provide any security whether directly or indirectly to: Any director of company or a company which is…
The Ministry of Corporate Affairs (MCA) works actively towards ease of doing business in India. To support this objective, MCA vide its Notification dated 18th February, 2020, amended Companies (Incorporation) Rules, 2014 and steered in the process of Incorporation of Companies through SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus: INC-32) in which substituted existing e-Form INC-32 (SPICe) under Companies (Incorporation)…
