Category: Companies Act

Spending of CSR funds for creating health infrastructure for COVID care, establishment of medical oxygen generation and storage plants, manufacturing and supply of oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19 or …

Read More "MCA issues clarification on Spending CSR funds for COVID care infrastructure, establishment of oxygen plants."

The gap between two consecutive meetings of the board may extend to 180 days for the quarters April to June and July to September instead of 120 days as required in the companies Act.

The companies and LLPs can file forms due on the period between April 1 to 31st May till 31st July, 2021 without paying additional fees. MCA has also provided through notification that while calculating the …

Read More "MCA relaxes the timeline for filing forms under Companies Act and LLPs Act"

The Trading members have to submit data on a consolidated basis across all Exchanges and shall not be required to upload data for clients with zero balances who have not traded in last 12 months …

Read More "NSE directs trading members to report Client Level Cash & Cash Equivalent Balances to the clearing members."

A corporate applicant, shall make an application for initiating pre-packaged insolvency resolution in Form 1, accompanied with affidavit, documents or records in electronic form, along with a fee of rupees fifteen thousand, Provided that in …

Read More "MCA notifies Insolvency and Bankruptcy (pre-packaged insolvency resolution process) Rules, 2021."

MCA has extended the date of implementation of rule 3(1) making it mandatory for companies using accounting software for maintaining their books to use software that allows to record audit trail of each and every …

Read More "MCA extends implementation of mandatory audit trail of companies’ accounts till 1st April 2022."

The Amendment is brought under rule 11 which specifies other matters to be included in auditor’s report.

The Act has provided an explanation to include any of the following activities for the transaction to be considered as the online sale of goods and online provision of services – acceptance of offer for …

Read More "The Finance Act, 2021."

The amendment provides the disclosures to be made by a company which has advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any …

Read More "MCA amends Schedule III of Companies Act"

MCA has appointed the 24th March, 2021 as the date on which the provisions of section 23 and section 45 of the Companies Amendment Act, 2020 shall come into force