Category Archives: Chapter I – CA2013

PRELIMINARY (and Date of Enforcement, Amendment, Repealing also as section 1 is here.)

Effective Provisions of the Companies Amendment Act 2017 w.e.f. 13 June 2018


With Four Notifications; S.O. 351(E) dated 23rd January 2018, S.O. 630(E) dated 9th February 2018, S.O. 1833(E) dated 7th May 2018 and S.O. 2422(E) dated 13th June 2018 most provisions of the Companies (Amendment) Act, 2017 (1 of 2018) come into force. Here is a bird’s eye view.

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Half of the Companies Amendment Act, 2017 effective


Vide Notification S.O. 351(E) dated 23rd January 2018 Section 1 and 4 of the Companies (Amendment) Act, 2017 came into force on 26th January 2018. According to a draft notification placed on the website of Ministry of Corporate Affairs[i], Central Government appoints 9th February 2018 as the date on which 42 other sections and a major part of section 2 of the Companies (Amendment) Act, 2017 came into force.

UPDATE: The Notification S. O. 630(E) dated 9th February 2018 published in the Gazette of India on 12th February 2018 uploaded with the digital signature of publisher dated 16th February 2018.

Here is a bird’s eye view.

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AishMGhrana – Law Governance Responsibility 2017


The blog “AishMGhrana – Law Governance Responsibility” regularly put here its annual reports for public information. Our readers are our assets. We are thankful to every reader for the long association since March 2011.

Our readers can enhance their knowledge anywhere anytime on mobiles, tablets, laptops and desktops. We assure our readers that this blog has secured https protocol and completely mobile friendly. The blog is a participant of Accelerated mobile Pages (AMP) program of Google to ensure less mobile data consumption while loading.

The blog was adjudged as one of the best blogs in India by Indianbloggers.org in category “law” in 2013 and continue hold this position. Indian Blog critics IndianTopBlogs.com listed this blog among best blogs on Corporate Affairs for years 2013 – 14, 2014 – 15, 2016 and 2017. The Feedspot lists this blog among “Top 100 Legal Blogs worldwide Every Lawyer and Law Student Must Follow”. This blog is among top 50 blogs on this list of the Feedspot.

The blog got about 5.02 lakh page views by 3.32 lakhs unique visitors this year against 3.6 lakh page views by 2.4 lakhs unique visitors last year. This year we achieved magic figure of 50,000 views a month twice. During the year, the blog posted 58 posts. The blog now hosts total 628 blog posts and completed 17 lakh page-views and 10.9 lakh visitors.

Most of our readers are resident of India and others are from 198 (against 168 last year) territories worldwide. Other than India; United States, Malaysia, United Kingdom, Singapore, Pakistan, European Union,  South Africa, Kenya was important territories with more than 1,000 yearly views in the year 2017.

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On-demand, Index of Companies Law Posts as updated on 31st December 2017 is uploaded here: Index of Company Law Posts 2017

Subsidiaries Layers limited


The Patron Government of ease of doing business was earlier considered not favourable for corporate governance. After “successful” demonetization, government looking for all possible measure it seems necessary even though earlier not much liked by it. The enforcement of the provision of limiting layers of subsidiaries is one such law. Ministry of Corporate Affairs on 20th September 2017 notified Proviso to clause (87) of section 2 and –.

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RETINA SIGNATURE – REPLACING DIGITAL SIGNATURES


Bye – Bye Digital Signature Certificates!!

Inter – ministerial task force on secured authentication of legal documents actively discussing retina signatures which next logical step after introduction of biometric identification system in India. Indian mainstream media undermined these reports amid its stir on recent development in Uttar Pradesh.

Under critically proactive leadership of Prime Minister Narendra Modi an inter-ministerial task force was formed just after demonetization to consider digital cash, digital contracts and digitization of legal and court documents. The task force includes highly places officers of Ministry of Finance, Ministry of Law & Justice, Ministry of Information Technology, Unique Identification Authority of India, Ministry of Health & Family welfare. Highly placed sources suggest that a prime intelligence agency of nation is also involved and getting help from an agency of a friendly foreign nation.

Retina signature is a unique technique developed by a research group consist of countries premier medical colleges and information technology universities. This is quite advance technique user shall sign just showing his retina to camera attached to his laptop, mobile or desktop. This futuristic system shall replace token based digital signature certificate and can be used anytime anywhere by anybody. Though, it will be restricted presently for human need, this technique is so advance that it can be even be used by advance animals using their retina. Retina signature will eradicate need for renewal of digital signature certificates. This technology provides lifelong free signatures subject to good health and maintenance of retina. Any kind of file type may be signed using retina signature.

Retina is third and inner coat of eye which is a light-sensitive layer of tissue. The unique structure of the blood vessels in the retina has been used for biometric identification. Changes in the retinal microcirculation are seen with aging, exposure to air pollution and may indicate cardiovascular diseases such as hypertension and atherosclerosis.

In proposed methodology, a user shall place his eyes before camera of his mobile or laptop when a document to be signed should be opened before him on same device. It is also possible to sign a documents placed in another device. The retina signature shall capture bio-metrics of retina, system time, internet protocol address and geo-positioning of signatory. Once, signed there shall be no removal of signature from the documents shall be possible unless authorized by competent authority, which shall be a civil judge.

As usual, human right activists are planning to oppose the move. Activists argue that scrupulous elements and police authorities may get retina signature using force and other means. However, government authority denies any such possibilities. The task force working on modalities to make it happened in case blind, mentally challenged and otherwise unhealthy people.

A copy of relevant study document may be assessed here on or after 1st April.

 

Updated Index of Company Law Posts


Download Index of Company Law Posts as updated on March 31, 2017

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contract or agreement


In company law, there is interchangeable use of term contract and agreement. Though, they does not refer to same things. There is another term arrangement which also relevant in this context but not relevant to present post, here.

Agreement is an action of being agree. A contract is more than that.

“All contracts are agreements but all agreements are not contract.”

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