Category Archives: Chapter I – CA2013

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

Remaining Part of Companies Amendment Act became Effective


A gazette notification posted here on official website of the Gazette of India and posted on website of Ministry of Corporate Affairs says that Section 13 and Section 14 of the Companies (Amendment) Act, 2015 came into force with effect from 14th December 2015. The official language of notification read, “The Central Government hereby appoints the 14th day of December, 2015 as the date on which the provisions of section 13 and 14 of the said Act shall come into force.”

Continue reading

Advertisements

Part of Companies Amendment Act became Effective


A draft notification posted here on website of Ministry of Corporate Affairs says that Section 1 to 12 and Section 15 to 23 of the Companies (Amendment) Act, 2015 came into force with effect from 29th May 2015. The official language of notification read, “the Central Government hereby appoints the 296 May, 2015 as the date on which the provisions of sections 1 to 12 and 15 to 23 of the said Act shall come into force.” The Amendment Act was got presidential assent and notified by Ministry of Law and Justice as such on 26th May 2015 in official gazette.

Two sections not notified yet deals with Fraud Reporting Procedure [Section 13 amending Section 143 of Principal Act] and Related Party Transactions [Section 14 amending Section 177 of Principal Act]. This is understood that Rules related to these sections are in drafting process.

Continue reading

Suggestion for MCA website, “Act and Rules” Section


Dear Sir,
 
I am regular user of portal of Ministry of Company Affairs. This is one government site which update regularly. I have a small suggestion. This is related to “Act and Rules” section. 
 
I find Ministry update it immediately, whenever there is any new Rules, Notification, General Circular or order issued by Ministry and send for publication of Official Gazette of India. As you aware; most of these rules, notifications and orders come into force on the date of publication in the Official Gazette and until publication in Official Gazette, copies of these rules, notifications and orders are just a piece of information, not of Law of land.
 
I would like to suggest you, when these rules, notification and order published in Official gazette, Ministry may please replace its pre – publication copies with copies published in Official Gazette. This will help stakeholders to know date of publication in official gazette as well as date from which these rules, notification and orders.
 
I understand, this may increase workload a little bit but help stakeholders a lot and improve image of Ministry also.

Companies Permitted to invest (Removal of Difficulty Order2015)


Ministry of Corporate Affairs issued another “the Companies (Removal of Difficulties) Order, 2015” in exercise of the powers conferred by sub-section (1) of section 470 of the Companies Act, 2013 o remove the difficulties form (a) Definition of Small Companies under Section 2(85) and (b) for that purpose also inserted forth item in sub – section (11) of Section 186.

Continue reading

Change in Definition of Small Company (Removal of Difficulty Order 2015)


Ministry of Corporate Affairs issued another “the Companies (Removal of Difficulties) Order, 2015” in exercise of the powers conferred by sub-section (1) of section 470 of the Companies Act, 2013 to remove the difficulties form (a) Definition of Small Companies under Section 2(85) and (b) for that purpose also inserted forth item in sub – section (11) of Section 186.

As we have already discussed earlier here, original definition of small company is:

Continue reading

THE COMPANIES AMENDMENT BILL 2014: PART 3 OF 3


The Companies Amendment Bill 2014 has been introduced and passed in Lok Sabha recently. This blog post has intention to analyse proposed changes in the Companies Act 2013.

Most important massage, this amendment prepares a best case for drafting skill development programmes in India. I am reading here this Bill clause by clause. This will be a three part series and part 2 of 3 is present here.

To amend sub-section (1) of section 188 of the said Act to exempt related party transactions between holding companies and wholly owned subsidiaries (WOS) from the requirement of approval of non-related shareholders [Section 16 of the Amendment Bill]

Continue reading

THE COMPANIES AMENDMENT BILL 2014: PART 2 OF 3


The Companies Amendment Bill 2014 has been introduced and passed in Lok Sabha recently. This blog post has intention to analyse proposed changes in the Companies Act 2013.

Most important massage, this amendment prepares a best case for drafting skill development programmes in India. I am reading here this Bill clause by clause. This will be a three part series and part 2 of 3 is present here.

To amend sub-section (1) of section 123 of the said Act to include provisions for writing off past losses/depreciation before declaring dividend for the year [Clause 10 of the Amendment Bill]

A forth proviso is being added to the effect that no company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the company for the current year.

Continue reading