Summary of notifications in the Companies Act, 2013 and SEBI (LODR), 2015 issued on 01/07/2019 and on 27/06/2019 respectively are listed below: The Nidhi (Amendment) Rules, 2019 w.e.f., 15/08/2019 Following are the key amendments made to the existing Nidhi Rules, 2014 Every company that is declared as Nidhi or Mutual Benefit Society u/s 406(1) [...]
Summary of Circular for the Companies Act, 2013 issued on 27/06/2019 is listed below: 1. MCA Circular on filing of e-form DIR-3 KYC and web-based services:Through this Circular, Ministry clarifies on filing of e-Form DIR-3 KYC for Directors, as follows- a. Updating KYC details for first time will be through e-Form DIR-3 KYC. b. [...]
Clarification letter from MCA pertaining to filing of e-Form DPT-3 dated 24/06/2019: Clarification from Ministry about Auditor’s Certificate on return of deposit pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014: Through this letter, the Ministry has clarified that the returns of deposits in e-Form DPT-3 containing the deposits information as [...]
Summary of Circular in the SEBI (LODR), 2015 issued on 11/06/2019 is provided below: NSE Circular on Action(s) to be initiated against listed companies for non-payment of outstanding Annual Listing Fees (“ALF”) This circular spells out the penalty on listed companies (including listed SMEs), if they fail to remit Annual Listing Fees on or before [...]
Summary of administrative changes vide notification in the Companies Act, 2013 issued on 07.06.2019 are listed below: The Companies (Incorporation) Sixth Amendment Rules, 2019 w.e.f., 15.08.2019 a. A person or an association desirous of incorporating a company under section 8 i.e., Not for Profit Organisation, under the Companies Act, 2013 shall make an application [...]
Like the five blind men describing an elephant, AI means many things to many people and taken individually all of them are not incorrect. Hence a good place to start is by defining both the terms Artificial and Intelligence. Artificial in the context of AI means anything which is non-biological, i.e. outside the plant [...]
As many of you may be aware, we provide a free to use website that provides an integrated view of the Companies Act, LODR and IB code. Over the last three years, this site has generated good traction with 3500+ individuals registering for getting updates and attracts around 2000 users viewing more than 5000 [...]
Summary of Notification in Companies Act, 2013 issued on 30/05/2019 is provided below: Notification amending Schedule VII of the Companies Act, 2013: Through this notification, Central Government amends Schedule VII which lists the areas of Corporate Social Responsibility (CSR) by inserting ‘disaster management, including relief, rehabilitation and reconstruction activities’ as one of the CSR [...]
Summary of Notification in Companies Act, 2013 issued on 21/05/2019 and Circular issued by SEBI on 27/05/2019 are provided below: MCA Notification on Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Third Amendment Rules, 2019. Through this notification, MCA has omitted sub-rule(2) in [...]
Summary of Rule and Notification in Companies Act, 2013 issued on 22/05/2019 is provided below: National Financial Reporting Authority (Meeting for Transaction of Business) Rules, 2019: MCA has introduced new Rule to define the procedure to be undertaken by the Authority with regard to convening meetings, eligibility of persons to attend the meeting, maintenance [...]
