Other Editorials

ANALYSIS – CSR Amendment Rules, 2021

Summary: MCA has introduced “Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021. Most Important: CSR Spending made mandatory from voluntary w.e.f. financial year 2020-21. Date of Effectiveness of these rules: [1]These rules came into effect on 22 January 2021, as the same has been published in the official gazette on the same date. Therefore, these …

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PROCESS OF APPOINTMENTOF DIRECTOR ROC BACK OFFICE

There is a confusion in the mind of the professionals that if all the directors of the company are disqualified,then “How to appoint new directors in the Company? And numerous additional questions also evolved into the mind like: Who is having the authority to appoint the new Director? As all the directors are disqualified, then …

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EXTENSION OF CFSS – Scheme for condonation of delay for companies restored on the Registrar of Companies

Summary: MCA has issued circular on Clarification on extension of CFSS vide No. 03/2021 dated January 15, 2020 in respect of clarification of extension of late filing of form. Many queries received from professionals in whatsapp group “Gyan Gurukul” in respect of this circular like followings: “Which companies are eligible to take benefits of extension?” …

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Extension of Holding of AGM through Video Conferencing

Summary: MCA has issued circular on Clarification on Holding of AGM through VCvide No. 02/2021 dated January 13, 2020 in respect of Annual General Meeting. Many queries received from professionals in whatsapp group “Gyan Gurukul” in respect of  this circular like followings: “Whether AGM can be held even after December 31, 2020?” “Whether this circular …

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EXTENSION OF RESERVATION OF NAME

Amendment in Companies Incorporation Rules Summary: MCA has issued Companies (Incorporation) Third Amendment Rules, 2020. MCA issued this notification on 24th December 2020. MCA has introduced Rule 9A i.e. Extension of Reservation of Name in certain cases. Applicability: This Rule 9A shall come into effect from 26th January 2021 PRESENT PROVISION: As per provisions of …

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DUE DATE FOR SIGNING OF (FINANCIAL STATEMENT) FOR F.Y. ENDED 31.03.2020

Summary: In this editorial, the author is going to discuss the very relevant interrogations received from our professional colleagues through our WhatsApp groups “Gyan Gurukul” concerning “Due Dates of Signing” i.e. “What is the Due date of signing of the Financial Statement for the financial year ended 31.03.2020?” There is confusion between corporates and professionals …

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CLARIFICATION – DUE DATE OF FILING OF ANNUAL FORM (AOC-4, MGT-7, ADT-1) FOR F.Y. ENDED 31.03.2020

Summary: In this editorial, the author is going to discuss very relevant interrogations received from our professional colleagues through our WhatsApp groups “Gyan Gurukul” concerning “Due Dates” i.e. “What is the Due date of filing of Annual Forms (AOC-4, MGT-7 & ADT-1) for the financial year ended 31.03.2020?” There is confusion between corporates and professionals …

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CLARIFICATION ON FURTHER EXTENSION OF AGM – AFTER DECEMBER 2020

Summary: In this editorial, the author is going to discuss very important interrogations welcomed from our professional colleagues through our WhatsApp groups “Gyan Gurukul” concerning “AGM Extension” i.e. “If a company fails to hold the AGM till 31st December 2020 for the financial year ended 31.03.2020, Whether such company can apply with the ROC for …

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LLP- 8 Due Date – F.Y. 2019-20 – 30-October 2020

What is Due Date of Filling of LLP-8 with ROC for F.Y. ended 31.03.2020. Summary:  In this editorial author going to discuss due date of filling of LLP-8 with Registrar of Companies for financial year 2019-20 along with date of signing of Financial Statement of LLP-8. We have received a lot of queries from professionals …

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object clause

Procedure for a change in the Object clause of MOA

SHORT SUMMARY: This Article contains the procedure for a change in the Object clause of the Company under the Companies Act, 2013 with detailed documentation required. I hope this document would be of some help w.r.t. professional workings. Memorandum of association is the charter of the company and defines the scope of its activities. Memorandum …

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Loan to Director – Section 185

Loan to Director – Section 185 Every thing about Section 185, Loan to Director SHORT SUMMARY: In this Research editorial, the author begins by referring the provisions of Section 185 of Companies Amendment Act, 2017 (Loan to Directors and entities in which directors are interested). The main focus of this research editorial on “Which are …

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APPLICABILITY OF COMPANIES ACT, 2013 – BASED ON LIMITS

APPLICABILITY OF COMPANIES ACT, 2013 – BASED ON LIMITS Sr. No. Provision under Companies Act, 2013 Applicability of Provision Non-Applicability of provision 1 XBRL [1](General Circular No. 16/2012 Dated: 06.07.2014.) a) All companies LISTED with any Stock Exchange(s) in India.   b) Subsidiaries of any Company Listed with any Stock Exchange(s) in India. c) All …

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Process of Cancellation of SRN (already approved) from ROC

Process of Cancellation of SRN (already approved) from ROC (Process of Revision of Form on MCA Website)   It’s a common question amongst many professionals that“If a form approved by ROC under STP mode, whether SRN can be Cancel?  Whether AOC-4/MGT-7/ any other form filed by Company can be revising? In this editorial author shall …

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Difference Between Right Issue Private Placement Preferential Allotment

Difference Between Right Issue Private Placement Preferential Allotment

Sr. No Basis of Difference Right Issue Private Issue Preferential Allotment 1 Applicable provisions under Companies Act, 2013 Section 62(1)(a) read with Rules Section 42 read with rule 14 Companies (Prospectus and allotment of securities) Rules,2014 Section 62(1)(c ) read with rules 13 of Companies (share Capital and debentures)Rules,2014 and Section 42 read with rule …

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RELAXATION DUE TO COVID 19 – COMPANIES ACT, 2013 & LLP ACT, 2008 – TILL DECEMBER 31, 2020

In this article author shall discuss about Relaxation given by MCA in Compliance of Companies Act, 2013 till December 31, 2020. Relaxations from many Due Dates for Filing of Forms, holding of Meetings etc. MCA has issued notification/ circulars for the same on September 28, 2020. Relaxation in filing of Forms with ROC: Ministry of Corporate …

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Due Date Calendar – December 31, 2020 – Company Law & LLP

Due Date Calendar 31st December, 2020  S. No. Form No. Purpose of Form Actual Due Date Extended Due Date 1. MSME-1 Details of Pending Payment to MSME Vendors (Two Forms) For 31.03.2020 & 30.09.2020 30th April,2020 & 30th October, 2020 31st December, 2020 2. LLP-11 Annual Return 31.03.2020 30th May, 2020 31st December, 2020 3. …

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