Company Law – Editorial

UDIN – ICSI – Unique Document Identification Number

[1]In exercise of the powers conferred by clause (1) of Part II of the Second Schedule to the Company Secretaries Act, 1980 as amended by the Company Secretaries (Amendment) Act, 2006. The council member in its 261st meeting held on 27th June 2019 issued Unique Document Identification Number (UDIN) Guidelines, 2019 that every Company Secretary …

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Key Take Away – Notified Sections – COMPANIES (AMENDMENT) ACT, 2020

Summary: The government has passed the Companies (Amendment) Bill, 2020 as Bill No. 88 of 2020 to further amend the Companies Act, 2013 on March 12, 2020. Companies (Amendment) Bill, 2020 based on CLC Committee. CLC Committee submitted its report in November 2019. There are amendments in 66 Sections of the Companies Act, 2013 Title …

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LIST OF NOTIFIED SECTIONS COMPANIES AMENDMENT ACT, 2020

Summary: Ministry of Corporate Affairs by Circulated Dated 21st December 2020 has already notified some Sections of the Companies Amendment Act, 2020 w.e.f. 21st December 2020. Out of 66 Sections, 44 Sections has been notified. Ministry of Corporate Affairs has latest issued one more Circular Dated January 22, 2021, and notified some more sections of …

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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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MCA Amendments Calendar – December 2020

SUMMARY: Ministry of Corporate Affairs has caused myriad amendments in the Companies Act, 2013. In this editorial, the author shall try to cover all such amendments along with the impact of the same on the Corporates. No. of Notifications appeared in December One No. of Circulars appeared in December Three No. of Amendments in Rules …

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Provisions of Deposits for Private Companies

Short Summary: In this spark editorial, the author begins by referring the provisions of section 73 of Companies Act, 2013 relating to Acceptance of Deposit by Companies. Author shall Shed Some Light on sources of permissible deposits, limits of deposits, provisions of deposits, compliances for acceptance of such deposits etc. The main thrust of the …

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e-form DPT-3 – Process of Selection of Remote Button

The Ministry of Corporate Affairs has issue e-form DPT-3 w.e.f. 01st May, 2019. In this Flash Editorial author begins by referring the check list for filing of e-form DPT-3 S. No. Purpose of Form Applicability   1.       Onetime Return for disclosure of details of outstanding money or loan received by a company but not …

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FAQ’s on e-form DPT-3

Summary: In this editorial author going to discuss about everything about DPT-3. DPT-3 is annual return required to file every year having any amount of loan or advances as on 31st March within 90 days of end of financial year i.e. 30th June. Q 1. What are the objectives of e-Form DPT-3? Ans. The objectives …

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PROCESS OF ACCEPTANCE OF LOAN FROM SHAREHOLDERS

Short Summary: In this editorial author discussing about Provisions of loan from shareholders by Private Limited Company, Process of acceptance of loan from shareholder, Treatment of such loan in DPT-3, Balance Sheet etc. There are many ambiguity in the corporate and professionals about treatment of Loan from shareholder, whether considered as deposit or not? Section/ …

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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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Registered office

Process of Shifting of Registered office of Company

The article explains Meaning of Registered Office, When Registered Office of Company Mandatory, Modes of Shifting of Registered Office of Company, Process for Shifting of Registered Office of a Company Within the Local Limit Of City, Town Or Village To Another Place In Within The Limit Of Same City, Town Or Village, Process for Shifting …

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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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