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Website Compliance under Companies Act, 2013

Website Compliance under Companies Act, 2013

Companies being registered entities under the Companies Act, 2013 are required to publish and continue to keep certain details/information/data on its website in order to comply with the Companies Act, 2013 Below is the list of information to be published on its website by the Companies: On its landing page/home page Name of the CompanyCorporate Identity Number (CIN)Registered Office…

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Form PAS-6 : Share Capital Reconciliation

Form PAS-6 : Share Capital Reconciliation

At its very basic, the shares dematerialized plus the shares in physical form should be equal to issued/listed capital. The total shares actually dematerialised should not be in excess of the admitted capital. Admitted Capital refers/relates to the quantum of securities, which are admitted for getting dematerialised into the Depository.

There were number for cases came into light where issuer…

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Companies Fresh Start Scheme-2020

The Ministry of Corporate Affairs vide Circular No. 12/2020 dated March 30th, 2020 has issued “Companies Fresh Start Scheme-2020”(the “CFSS” or the “Scheme”) which alleviated measures for the benefit of all companies registered in India to make a fresh start. The MCA has given an opportunity to both LLP and Companies to make good any filing related defaults, irrespective of the duration of…

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MCA Relaxations Due to COVID-19 Outbreak

Dear Stakeholder(s)

In view of the pandemic COVID-19 outbreak, the Ministry of Corporate Affairs (the MCA) vide General Circular No. 11/2020 dated March 24th, 2020 has announced the following special measures under the Companies Act, 2013 (CA-13) and Limited Liability Partnership Act, 2008.

Delay in Filings with the MCA:

No additional fees shall be charged for late filing during a…

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Missing Links of Form DPT-3

Missing Links of Form DPT-3

With the advent of Companies (Acceptance of Deposits) Second Amendment Rules, 2019 vide Notification dated 30th April 2019 (the “Notification”), Ministry of Corporate affairs has made it mandatory for Companies to inform the outstanding receipt of money or loan by a company but not considered as deposits as on 31st March.

However, after this amendment, there are lot many confusions in the…

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Company KYC

COMPANY KYC

Under the KYC drive of the Government of India, Ministry of Corporate Affairs (the “MCA”) vide notification dated 21st February, 2019 has made Company KYC mandatory for all the companies incorporated on or before 31st December, 2017. The KYC to be filed in e-form ACTIVE (Active Company Tagging identities and Verification) aka form INC-22A.

Due Date: on or before 25.04.2019

Wh…

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MSME Disclosure : Form-I

MSME Disclosure : Form-I

Ministry of Corporate Affairs (the “MCA”) by the notification dated 22nd of January, 2019 has issued Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 (the “Order”).

The order is applicable on the following company (the “Specified Company”):

who get supplies of goods or services from micro and small enterprises; and

whose paymen…

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Significant Beneficial Owner

In India, regulations for identifying “Significant Beneficial Ownership” of a company have been implemented. The genesis and purpose of wanting to know the beneficial ownership of a company lies  in the very form in which a company exists.

A company is a legal entity capable of owning properties and conducting business just like a natural person. However, in reality, it’s a group of persons who…

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DIN KYC

The Ministry of Corporate Affairs has made KYC of DIN holders mandatory by Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 w.e.f. 10th July, 2018.

Every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a FY, shall submit KYC to the Central Government on or before 30th April of immediate next FY. Therefore, KYC shall…

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My StartUp Buddy My StartUp Buddy is just my experience that I had and still having with my Startup Clients.

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Startup: Some Dos & Don'ts

Startup: Some Dos & Don’ts

Looking at the current compliance status of recently registered startups, it is quite evident that there are lack of awareness amongst the entrepreneurs or may say ignorance. In many of the cases it is found that the entrepreneurs are busy in looking for investors or involved in the business. And during all these, they forget the important compliance or adhering to many of the laws applicable in…

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Extension for filing balance sheet for 2017 The Ministry of Corporate Affairs vide Circular 13/2017 dated 26th Oct, 2017 has extended the date of filing of Financial Statements till 20.02.2018…

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Restriction on Number of Layers of Subsidiaries Rules

Restriction on Number of Layers of Subsidiaries Rules

The Ministry of Corporate Affairs has issued Companies (Restriction on number of layers) Rules, 2017 by Notification dated 20th September, 2017.

Restriction:

With effect from 20th September, 2017, No Company, other than following class of Company, shall have more than TWO Layers of subsidiaries:

(a) a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949;

(b)…

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Comparison with Revised SS-1

Comparison with Revised SS-1

The Institute of Company Secretaries of India has issued Revised Secretarial Standard-1 which shall come into effect from 1st October, 2017 with approval of the Central Government. The Revised Secretarial Standard is made in line of Companies Act, 2013 and ease of doing business. Many of the practical difficulties of earlier Standard have been tried to remove in the Revised Secretarial Standard.

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Company Registration

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