Category Archives: Chapter VIII – CA2013

DECLARATION AND PAYMENT OF DIVIDEND

Journey of Schedule II in 2014

Posted on March 3, 2015 | 1 comment

Schedule II of the Companies Act, 2013 deals with provision related to “useful life to compute depreciation”. This is second schedule of this Act which was amended before it may come into force in its original form.

A Notification published in Official gazette on 31st March 2014 amended the schedule with effect from 1st April 2014. These amendments were:

  1. In Part “A” Para 3 sub – paragraphs (i) to (iii) were substituted.
  2. In Part “C” Para 5, in Item IV, in sub – item (i); clause (b) was substituted.
  3. Under heading Notes appearing after Part “C”, Paragraph 5 was omitted.

Thereafter amended Schedule came into in force with effect from 1st April 2014.

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Posted in Chapter IX - CA2013, Chapter VIII - CA2013, Companies Act 2013

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Saving Private Assets

Posted on January 20, 2015 | 1 comment

[A new Web portal LawStreetIndia launched on Pongal this year. This piece was originally published on LawStreetIndia here on 15th January 2015. This blog wish all success to the portal]

Investor Education and Protection Fund is a permanent parking lot of all unclaimed shares and dividend under the Companies Act. Unending hunger of fund by government results its claim on everything unclaimed with help of hurriedly drafted laws. Yes, for all legal purpose, government is not going to own such money and keep it in trust but fund so transferred help to arrange mileage for government as administrator of such fund.

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Posted in Chapter VIII - CA2013, Companies Act 2013, CorpGov, Governance and Responsibility, Truth of Our Time

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THE COMPANIES AMENDMENT BILL 2014: PART 2 OF 3

Posted on January 6, 2015 | 5 comments

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.

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Posted in Chapter I - CA2013, Chapter IX - CA2013, Chapter VIII - CA2013, Chapter XII - CA2013, Companies Act 2013, CorpGov, Governance and Responsibility

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DECLARATION AND PAYMENT OF DIVIDEND

Posted on May 17, 2014 | 13 comments

In an earlier post here, we have discussed provisions related to dividend under the Companies Act, 2013. Now we have the Companies (Declaration and Payment of Dividend) Rules 2014 as notified on 31st March 2014 for discussion.

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Posted in Chapter VIII - CA2013, Companies Act 2013, CorpGov, Governance and Responsibility

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