Orporate Legal

The second wave of Covid-19 in India has been far more damaging than the first one. More than four lacs cases are reported on daily basis and hospitals have run out of space. In this difficult time, the Ministry of Corporate Affairs has issued three circulars on 3rd May 2021 to provide certain relaxations to Companies/LLPs. General Circular No.06/2021- Relaxation on levy of additional fees in filing of certain Forms under the Companies Act, 2013 and LLP Act, 2008 (other than Forms CHG-1, CHG-4 and CHG-9) The MCA has provided relaxation on levy of additional fees for filing various forms (other than Forms CHG-1, CHG-4 and CHG-9) under the Companies Act, 2013/LLP Act, 2008/Rules made thereunder due for filing during 1st April, 2021 to 31stMay, 2021. Therefore, the forms due for filing during 1st April, 2021 to 31st May, 2021 shall be filed upto 31st July, 2021 with no additional fees. Only normal fees shall be payable. General Circular No.07/2021- Relaxation of time for filing forms rela...

The Institute of Company Secretaries of India, recognizing the need to provide support to its members in developing auditing acumen, techniques and tools and for inculcation of best auditing practices among its members had issued ICSI Auditing Standards Effective Date : The Standard is effective and recommendatory for Secretarial Audit accepted by the Auditor on or after 1st July, 2019 and mandatory for Secretarial Audit accepted by the Auditor on or after 1st April, 2020 In view of the developments arising due to the spread of Covid-19 pandemic, the effective date of mandatory applicability of ICSI Auditing Standards CSAS-1 to CSAS-4 has been extended for Audit Engagements accepted by an Auditor on or after 1st April,  2021.  Members are advised to follow the Institute’s communications/guidelines, which may be issued from time to time, for the date of mandatory applicability of ICSI Auditing Standards CSAS-1 to CSAS-4. Let’s discuss today about CSAS-1 ...

ANNUAL RETURN IN FORM MGT-7A FOR OPCs & SMALL Section 2(62) of  Companies Act, 2013 defines “One Person Company" means a Company which has only one person as a member. Section 2(85) of companies Act, 2013 defines “Small Companies” means a Company, other than a public company:- (i)              paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may prescribe which shall not be more than ten crore rupees and (ii)            t urnover of which [as per profit and loss account for the immediately preceding financial year] does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than one hundred crore rupees Provided that nothing in this clause shall apply to— (A) a holding company or a subsidiary company; (B) a company registered under section 8; or (C) a company or body corporate governed by any special Ac...

To comply with the various  annual compliance  laid down under the Companies Act , 2013 here the list of Forms that need to be filed by Companies before the due date. Name of E-form Purpose of E-form Time period of Filing Due Date MSME Form 1 Half-yearly return with the registrar in respect of outstanding payments and payments exceeding 45 days to Micro or Small Enterprises. Within 30 days from the end of each half-year For 01st October, 2020 to 31 st March, 2021: 30 th April, 2021; For 01 st April, 2021   to 30 th September, 2021: 30 th October, 2021 CFSS To seek immunity in respect of the belated documents filed under the Scheme. Immunity under this scheme shall be provided to only those companies who will file CFSS form.   30 th June, 2021 PAS -6 Reconciliation of Share Capital Audit Report on half-yearly...

In continuation to this Ministry’s General Circular No. 10/2020 dated 23.02.2020 wherein it was clarified that spending of CSR fund for COVID-19 is an eligible CSR activity, it is further clarified that spending of CSR fund for:   Setting up makeshift hospital and temporary COVID Care facilities Is eligible under CSR activities under item no. (1) and (xii) of Schedule VII of the Companies Act,   2013  The Company may undertake these activities in Consultation with state government subject to fulfillment of Companies (CSR Policy) Rules, 2014 and the circular related to CSR issued by MCA.  Click here to get Notification http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo5_22042021.pdf #TeamOrporate

  Question of the day. Index => Question of the day. Quiz Show all questions <=   => When is United Nations Day observed?   ?     October 24   ?     October 25   ?     October 23   ?     October 22  OK  Index =>