How To Incorporate a Corporate Entity in India?
Posted Date : 10-Aug-2013 , 12:38:27 pm | Posted By
Vinay Sharma
A corporate entity in India is governed by provisions of The Companies Act 1956 (The Act).
The Act permits primarily two kinds of Companies –
a) Private limited Company
b) Public limited Company
Both are companies with limited liabilities; owned by shareholders & gove...
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Category : Corporate Law |
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Important Features Of The Companies Bill, 2012
Posted Date : 09-Aug-2013 , 11:41:06 am | Posted By
Vinay Sharma
Important Features Of The Companies Bill, 2012
The Parliament has passed the historic Companies Bill 2012, moved by Shri Sachin Pilot, Minister of Corporate Affairs. The Bill was passed by the Rajya Sabha here today which had already been passed by the Lok Sabha many months ago (in December...
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Category : Corporate Law |
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RECENT SEBI NORMS FOR BUY BACK OF SHARES
Posted Date : 29-Jun-2013 , 08:07:56 pm | Posted By
CA Ramesh K Chhajer
Securities market regulator SEBI in a board meeting on Tuesday decided to tighten corporate share buyback norms and increase disclosure norms for preferential issues, and came up with guidelines for angel funds as part of forming alternative investment fund regulations.
It also approved the...
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Category : Corporate Law |
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Legal Requirements for Formation of A Hindu Undivided Family (HUF) :-
Posted Date : 20-Jun-2013 , 02:40:35 pm | Posted By
Vikash Kumar Jha
Legal Requirements for Formation of A Hindu Undivided Family (HUF) :- 1) CAPITAL & MEMBERS : – For A HUF to be created , major requirements are the capital and persons. Capital can be in the form of ancestral property, assets gifted by relatives and friends, or received by the HUF thro...
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Category : Corporate Law |
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COUNCIL GUIDELINES FOR CONVERSION OF CA FIRMS INTO LLPs
Posted Date : 17-Jun-2013 , 06:58:49 pm | Posted By
Gaurav Dhamija
The Institute of Chartered Accountants of India has finally issued guidelines for conversion of CA firms into LLPs and constitution of separate LLPs by the practicing Chartered Accountants in the decision dated 14 July, 2011, which are applicable for conversion of CA firms into LLPs or formation of ...
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Category : Corporate Law |
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File Your Roc Returns Before You Get Notice From MCA
Posted Date : 16-Jun-2013 , 02:13:39 pm | Posted By
Vinay Sharma
File Your Roc Returns Before You Get Notice From MCA
File Your ROC Returns Before You Get Notice from MCA. Recently Ministry of Corporate Affairs (MCA) is inquiring by sending notices to companies, as to whether a company is still continuing its business operation or not.&nbs...
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Category : Corporate Law |
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ROC / MCA Fees rate Chart for Filing of Forms
Posted Date : 16-Jun-2013 , 09:09:46 am | Posted By
Vimmi
As we all know MCA has increasedadditional fee to be levied for delays in filing Forms other than Form 5 wef 05.12.2010 vide General Circular No: 4/2010, Dated the 22nd November, 2010.
Rate of Additional Fees for delay in Filing of ROC forms is as follows :-
Period ...
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Category : Corporate Law |
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List of Exchange Control Manual Forms
Posted Date : 11-Jun-2013 , 05:30:05 pm | Posted By
Gaurav Dhamija
Form
Index Title
A1-ACU
Payment through Asian Clearing Union (Imports)
A1-FC
Remittance in Foreign Currency (Imports)
A1-NRB
Transfer of Rupees to the Account of a Non-resident Bank (Imports)
A2
Remittance...
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Category : Corporate Law |
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List of Useful forms for LLP
Posted Date : 11-Jun-2013 , 05:26:08 pm | Posted By
Gaurav Dhamija
Description
e-Form with Instruction kit
Application for reservation or change of name
Form 1
Incorporation document and subscriber’s statement
Form 2
Details in respect of designated partners and part...
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Category : Corporate Law |
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Liabilities of The Members in the Event of Winding Up of a Company:-
Posted Date : 11-Jun-2013 , 12:31:50 pm | Posted By
Vikash Kumar Jha
Liabilities of The Members in the Event of Winding Up of a Company:-
As per the section 426 of the Company Act 1956, in the event of winding up of a company every present and past members shall be liable to contribute to the assets of the company to a sufficient amount:
- &nbs...
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Category : Corporate Law |
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Six Steps to be consider while incorporating LLP.
Posted Date : 28-May-2013 , 04:43:36 pm | Posted By
Vikash Kumar Jha
The registration of LLP has been made compulsory under the Act. A LLP has to register itself with the Registrar of Companies (“ROC”). Following are the main steps while incorporating a LLP:
1. LLP requires at least 2 Designated Partners (...
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Category : Corporate Law |
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Benefits Under the Scheme of ESIC.
Posted Date : 28-May-2013 , 01:13:46 pm | Posted By
Vikash Kumar Jha
Benefits Under the Scheme of ESIC
An interesting feature of the ESI Scheme is that the contributions are related to the paying capacity as a fixed percentage of the workers’ wages, whereas, they are provided social security benefits accord...
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Category : Corporate Law |
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Essential Document(s) to be required in case of registration with EPFO and ESIC
Posted Date : 23-May-2013 , 06:58:09 pm | Posted By
Vikash Kumar Jha
These docu required to submit with the performa of coverage for EPF and ESIC along with list of employees.
1. A copy of Memorandum and Articles of Association and the certificate of incorporation issued by the Registrar of Companies, in the case of Public and Private Ltd. Companies....
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Category : Corporate Law |
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COMPENSATION FOR LOSS OF OFFICE - SEC 318
Posted Date : 21-May-2013 , 02:45:21 pm | Posted By
Rohit Gattani
Topics to be discussed:-
1. Reasons for payment of compensation
2. Compensation to whom
3. Amount of compensation
4. Prohibition of compensation
1. ...
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Category : Corporate Law |
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Revision in the criteria for classifying Level II Non-Corporate Entities
Posted Date : 08-Mar-2013 , 05:17:07 pm | Posted By
CA Swati Acharya
Announcement
Revision in the criteria for classifying Level II non-corporate entities
1. The Council of the Institute with a view to harmonise the differences between the Accounting Standards issued by the ICAI and the Accounting Standards notified by the Central Government und...
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Category : Corporate Law |
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IPO for SMEs
Posted Date : 06-Mar-2013 , 06:30:15 pm | Posted By
CA Swati Acharya
SME’s IPO
Definitions
(a) “Main Board” means a recognized stock exchange having nationwide trading
terminals, other than SME exchange;
(b) “nominated investor” means a qualified institutional buyer or private equity fund,
who enters int...
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Category : Corporate Law |
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AN OVERVIEW - COPYRIGHT LAW
Posted Date : 25-Feb-2013 , 05:28:23 pm | Posted By
CA Anil Kumar Jain
INTRODUCTION
Copyright is a legal term refers to protecting a creator’s work. It is a type of intellectual property that provides exclusive publication, distribution, and usage rights for the creator. This means whatever content is created cannot be used or publish...
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Category : Corporate Law |
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FAQs on XBRL
Posted Date : 22-Feb-2013 , 04:52:42 pm | Posted By
Vinay Sharma
What is XBRL?
XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business in...
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Category : Corporate Law |
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Director Identification Number - Step by step Process For Application
Posted Date : 15-Feb-2013 , 01:44:56 pm | Posted By
Vinay Sharma
The concept of a Director Identification Number (DIN) has been introduced for the first time with the insertion of Sections 266A to 266G of Companies (Amendment) Act, 2006. As such, all the existing and intending Directors have to obtain DIN within the prescribed time-frame as ...
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Category : Corporate Law |
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Directors Remuneration As Per Company Act 1956
Posted Date : 04-Feb-2013 , 02:31:22 pm | Posted By
PRAKASH KUMAR BAL
The term remuneration covers the following types of expenditure incurred by the company for its Director or his family –
Rent free accommodation;
Any benefit or amenity in respect of accommodation free of charge;
Any other ...
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Category : Corporate Law |
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Director's Relative (Office or Place of Profit) Rules, 2011
Posted Date : 27-Jan-2013 , 04:27:52 pm | Posted By
Vinay Sharma
In exercise of the powers conferred by clause (b) of sub-section (1) of section 642, read with sub-section (1B) of section 314 of the Companies Act, 1956, the Central Government hereby makes the following Rules in supersession of the earlier Notification No. GS.R. 89(E), dated ...
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Category : Corporate Law |
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Responsibility of Professionals signing MCA Annual Return
Posted Date : 15-Jan-2013 , 04:12:55 pm | Posted By
CMA Arif Farooqui
W.e.f from Financial Year 2011-12, Professional (CA, CMA, CS) signing MCA Annual Return have to certify whether Cost Accounting Record Rules -2011 (CARR) or Cost Audit Orders (CAO) are applicable on company or not and mention Product or Service Category Code (ITC/ NPCS 4 Digit Code). They h...
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Category : Corporate Law |
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Amendments to ‘The Companies Bill 2011’- Clauses wise
Posted Date : 25-Dec-2012 , 09:58:09 pm | Posted By
Vinay Sharma
The Bill has 470 clauses and 7 schedules as against 658 Sections and 15 schedules in the existing Companies Act, 1956.
The important amendments (approved ) in proposed Companies Bill 2011 are given below-
-Clauses 143(5) and (6): Provision relating to audit of Government Companies by C...
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Category : Corporate Law |
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COMPARATIVE STUDY OF Companies Bill, 2011 and Companies Bill, 2012 [As Passed by Lok Sabha]
Posted Date : 23-Dec-2012 , 11:24:25 am | Posted By
Vinay Sharma
♦ Definition of 'financial statement' in clause 2(40) amended to add the words "statement of changes in equity" in clause 2(40). Purpose is to clarify that statement of changes in equity will compulsorily form part of financial statements only for ...
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Category : Corporate Law |
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XBRL in India - filing and applicability conditions
Posted Date : 21-Dec-2012 , 04:11:09 pm | Posted By
Vinay Sharma
Introduction to XBRL
XBRL (eXtensible Business Reporting Language) is a language for electronic communication of business and financial data which is revolutionising business reporting around the world. It offers major benefits to all those who have to create, trans...
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Category : Corporate Law |
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New Company bill's saliant features
Posted Date : 19-Dec-2012 , 02:04:08 pm | Posted By
Deepak Agarwal
The Companies Bill, 2011, is organized as 29 chapters, 470 sections and 7 scheduled. A substantial part of the law will be in form of Rules, to be prescribed separately. It has introduced 33 new definitions. Here’s a look at some of its key highlights.
...
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Category : Corporate Law |
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Section 301 : Register of contracts, companies and firms in which directors are interested
Posted Date : 11-Dec-2012 , 05:55:06 pm | Posted By
Vinay Sharma
Section 301 : Register of contracts, companies and firms in which directors are interested
(1) Every company shall keep one or more registers in which shall be entered separately particulars of all contracts or arrangements to which section 297 or section 299 applies...
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Category : Corporate Law |
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All about Intellectual Properties
Posted Date : 27-Nov-2012 , 09:28:16 am | Posted By
Mukul Gulati
Intellectual property (IP) has taken a very important role in the economic world today. Long gone are the times when brick and mortar were treated as assets of a company. Today, it is the grey matter inside a human brain that is the asset. Companies are gearing up f...
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Category : Corporate Law |
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Procedures for Incorporation of Company
Posted Date : 26-Sep-2012 , 05:11:59 pm | Posted By
CMA Arif Farooqui
PROCEDURES FOR INCORPORATION OF COMPANY
The best way to start a business is to incorporate Private limited company because it has many advantages like limited liability of members and directors, separate legal entity, easy compliance, etc. A com...
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Category : Corporate Law |
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3 | Hits : 1280 |
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CORPORATE GOVERNANCE - ROLE OF INDEPENDENT DIRECTORS / AUDIT COMMITTEE.
Posted Date : 25-Sep-2012 , 06:22:11 pm | Posted By
Swati Singh
To recognize the importance of Independent Directors it is necessary to view the modern day corporate governance, the board of Directors and the inter relation of Independent Directors within this framework in achieving the objectives of any enterprise.
‘’Co...
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Category : Corporate Law |
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