February 3, 2021 Summary of the notification issued by MCA on 01/02/2021 MCA eases norms for One Person Company (OPC) incorporated under the Companies Act, 2013 and its Rules with effect from 01/04/2021 Key highlights of the Companies (Incorporation) Second Amendment Rules, 2021 are: 1. Non-resident Indians can also incorporate OPC and the minimum [...]
Companies, especially listed companies, are required to adopt and display on their websites about a dozen policies covering different elements of corporate governance like Policy on Directors Induction and Training Program, Insider Trading, Related Party Transactions, Materiality, Whistle-blowers, and Ombudsman, among others. While these policies are mandated by SEBI regulations or [...]
February 02, 2021 Summary of the notifications issued by MCA on 01/02/2021 MCA amends criteria for a company to be classified as a Small Company under the Companies Act, 2013 with effect from 1st April, 2021 Through this amendment, any Company, other than a public Company, with paid up capital and turnover as per [...]
February 01, 2021 Summary of circulars issued by MCA, BSE and NSE on 28/01/2021. MCA extends deadlines for filing AOC-4, AOC-4(CFS), AOC-4(XBRL) and AOC-4(Non XBRL) for the financial year ended 31st March, 2020 under the Companies Act, 2013 to 15/02/2021 Through this notification, MCA has extended the deadline for filing AOC-4, AOC-4(CFS), AOC-4(XBRL) and [...]
January 27, 2021 Summary of the notification issued by MCA on 25/01/2021 MCA amends rules with respect to conversion of public company into private company under the Companies Act, 2013 Through this notification, MCA requires the Regional Director(RD) – i. To reject the application for conversion within 30 days, recording reasons in writing, [...]
January 25, 2021 Summary of the notifications issued by MCA on 22/01/2021 MCA amends Corporate Social Responsibility (CSR) Rules, 2014 Key highlights of the amendment are as follows: 1. Definitions: Key Terms such as, ‘Administrative Overheads’ and ‘Ongoing Project’, duration of which is capped upto 3 years excluding the year of commencement of [...]
January 18, 2021 Summary of the circulars issued by SEBI and MCA on 15/01/2021 Extension of relaxation for certain provisions of LODR, 2015 to conduct General Meetings during the calendar year 2021 due to Covid-19 pandemic In line with relaxation granted by MCA with respect to holding EGMs and AGMs through VC or [...]
January 15, 2021 Summary of the Circular and Notification issued by MCA and IBBI on 13/01/2021 and 14/01/2021 respectively MCA allows Companies to conduct Annual General Meetings(AGMs) due to be held in 2020 or that would be due in 2021 through Video Conferencing (VC) facility or Other Audio Visual Means (OAVM) In line [...]
January 11, 2021 Summary of the notification issued by SEBI on 08/01/2021 Disclosure of events under Regulation 30 of LODR, 2015 by a Listed Entity undergoing Corporate Insolvency Resolution Process(CIRP) under IBC, 2016 Through this notification, a listed entity undergoing CIRP under IBC, 2016 shall disclose following events with the Stock Exchanges, without [...]
January 05, 2021 Summary of the circular issued by IBBI on 04/01/2021 Manner and period of retention of records relating to Corporate Insolvency Resolution Process (CIRP) under IBC, 2016 and its regulations Through this circular, IBBI requires an Insolvency Professional (IP) to preserve copies of records, relating to that period of a CIRP [...]
