Orporate Legal

Companies (Acceptance of Deposits) Rules, 2014 Ministry of Corporate Affairs (MCA) in consultation of Reserve Bank of India Makes the following rules further to amend the Companies (Acceptance of Deposits) Rules, 2014                                                        Image Via : E Startup These Rules may be called : Companies (Acceptance of Deposits) Amendment Rules, 2019 Came into force : 22nd January 2019 Before go through the amendment, you must known the definition of Deposits as per Rule 2(1)(C) of Companies (Acceptance of Deposits) Rules, 2014 which is "Deposit" includes any receipt of money by way of deposit or loan or in any other form, by a company,  but does not include  - Any Amount from Government (Indian or foreign) Loan from banking Co. Inter Co. Loan  Bonds and Debentures  Amount accepted...

Ministry of Corporate affairs issued Notification dated 22nd January 2019 directs that : All companies , who get supplies of goods or services from micro and small enterprises And  Whose payments to micro and small enterprise suppliers exceed forty five days from the date of acceptance or * the date of deemed acceptance of the goods or services as per the provisions of section 9 of the Micro, Small and Medium Enterprises Development Act, 2006  (hereafter referred to as “Specified Companies”) shall submit a half yearly return to the Ministry of Corporate Affairs in MSME Form 1 state that : (a) the amount of payment due; and (b) the reasons of the delay;and (c) whereas, Central Government, considers it necessary to require “Specified Companies” to furnish above information  in exercise of power under section 405 of the Companies Act, 2013 Now in this notification MCA Make an order in exercise of power under section 405 of the ...

The Ministry of Corporate Affairs, Government of India has issued the Companies (Incorporation) Amendment Rules, 2019 by publishing Notification ( Click here ) in the Official Gazette dated 21st February, 2019 .  Effective Date of Notification 25th February, 2019 New Compliance Ministry has inserted a Rule 25A in Companies (incorporation) Rules, 2014 which mandates the Companies incorporated on or before the 31st December, 2017, to file the particulars of the company and its registered office , in e-Form ACTIVE (INC- 22A) (Active Company Tagging Identities and Verification) on or before 25 th April, 2019. Pre- condition For filling e-Form ACTIVE (INC- 22A), Company must filed its due financial statements under section 137 & due annual returns under section 92. Crux : any company which has not filed its due   Financial Statements under section 137 or due Annual Returns under section 92 or both with the Registrar shall be restr...

An alysis on Companies (Significant Beneficial owners) Amendment Rules, 2019 We analyzed SBO Rules, and the main highlights of the same are as under:                       Image via : Banker's toolbox a)  Effective Date: 08 th February 2019 b) Who is Significant Beneficial owner : Any Individual , who acting alone or together, or through one or more persons, or trust, holds indirectly or together with any direct holdings, ·          not less than 10% of the shares or voting rights in a company or ·          a right to receive and participate in not less than 10% of the total distributed dividend or      any other distribution or ·          has a right to exercise significant influence and control. An individual shall be considered to hold...