Page 3 - Companies Act

Centre plans to decriminalise provisions of LLP Act, invites comments

More than 1.45 lakh LLPs are registered under the LLP Act and a bulk of them are small and medium enterprises.

Fair treatment of offences

Govt's move on decriminalisation is welcome

Suspension of IBC: Spotlight now on schemes under the Companies Act

In view of the suspension of the IBC, the government must create an alternative framework. It is the need of the hour

Preserve the IBC

Suspension should not result in unintended consequences

WhatsApp video calls for tax adjudication in wake of Covid-19 pandemic

The move is aimed at maintaining social-distancing norms amid the coronavirus pandemic, and WhatsApp has been picked because of its reach and popularity

Fifth tranche of economic package: 7 measures announced by FM today

The fifth and last set of measures focuses on MGNREGA, health and education (rural and urban), businesses, decriminalisation of Companies Act, etc

Covid-19 outbreak: Govt eases AGM deadline for certain section of companies

Under the Companies Act, 2013, companies have to hold their Annual General Meetings (AGMs) within nine months from the end of their financial year.

Independent directors: Underpaid & unappreciated

Independent directors have been in the eye of the storm for their inability to guide companies or being able to stand up to controlling shareholders

Bill to decriminalise minor procedural lapses introduced in Lok Sabha

Congress leader Adhir Ranjan Chowdhury, BJD's Bhartruhari Mahtab and Trinamool Congress leader Saugata Roy opposed the introduction of the bill.

Govt appoints Justice B L Bhat as officiating chairman of NCLAT

NCLAT Chairperson Justice Sudhansu Jyoti Mukhopadhaya retired on Friday

Confident that Parliament will pass changes in Companies Act: FM

Earlier this weak, the cabinet approved 72 changes to the companies law as the government aims further improvement in the companies law

Cabinet nod for foreign listing of firms, decriminalising offences

In ease of doing business push, 72 changes to companies law okayed

Cabinet likely to clear PSB merger, decriminalise sections of Companies Act

As many as 43 sections of Companies Act will be decriminalised through Cabinet approval

Tweak in Companies Act may allow Indian unlisted firms to list abroad

Currently, Indian companies tap foreign capital mostly through American depository receipts or global depository receipts

From arbitration to bounced cheques, here're the key court orders

SC has reiterated that once the issuance of a cheque and the signature on it have been admitted, there's always a presumption that it was issued to satisfy a legally enforceable debt or liability.

More firms in India complying with CSR norms under Companies Act: Report

CSR-related disclosures need to be made in the annual report in the format prescribed by the Act

Are regulators expecting too much from audit?

To protect the credibility of the firm and the profession, auditors are likely to take a conservative view in making professional judgements

Budget 2020 plans to amend Companies Act to decriminalise civil offences

In her second Budget presentation, the finance minister said tax harassment cannot be tolerated and added that wealth creators will be respected in the country

To ease burden on NCLT, govt notifies rules for winding up of companies

In a move that will help lessen the burden on the National Company Law Tribunal (NCLT), the government has notified the rules for winding up of companies under the companies law. The Corporate Affairs Ministry has notified the Companies (Winding Up) Rules, 2020, which would be effective from April 1. Petitions for winding up of companies are subject to various conditions, including thresholds on turnover and paid-up capital. Akila Agrawal, Partner & Head (M&A) at law firm Cyril Amarchand Mangaldas, said the rules seek to inter-alia reduce the burden of the NCLT by enabling summary procedures for liquidation to be filed with the central government. "Though the draft rules had made this available only for small companies, the final rules make it available to companies that have assets of book value not exceeding Rs 1 crore; and have not taken deposits beyond Rs 25 lakh or have no secured loans beyond Rs 50 lakh or turnover beyond Rs 50 crore or paid up capital beyond Rs 1 ...

Governing unlisted firms

Proposed norms are in the right direction