ADJUDICATION OF PENALTIES


The law stated in this post is valid from 19th February 2019. The earlier post on the subject here was valid from 1st April 2014 till 18th February 2019.

Section 454 of the Companies Act 2013 discussed earlier here, deal with the adjudication of penalties.  This Section is supplemented by the Companies (adjudication of Penalties) Rules 2014. This Section was amended by the Companies (Amendment) Ordinance, 2018 and Its retained as amended by first and Second Company amendment Ordinances of the year 2019. Accordingly, the Companies (adjudication of Penalties) Amendment Rules 2019 substituted Rule 3 of the Companies (adjudication of Penalties) Rules 2014. In this post, we will discuss these amended provisions.

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Seeking information of Significant Beneficial Ownership


The law stated in this post is valid from 8th February 2019. The earlier post on the subject here was valid from 14th June 2018 till 7th February 2019.

Section 90 of the Companies Act 2013 substituted by a new set of law by the Companies Amendment Act, 2017 with effect from 13th June 2018. It is a drastic change to understand and need urgent attention for all companies. Amended Section 90 and rules made thereunder has already been notified with effect from 13th June 2018 and 14th June 2018. However, the Companies Amendment Ordinance, 2018 as well as The Companies Amendment Act, 2019 amended Section 90 with effect from 2nd November 2018.  Thereafter, the Companies (Significant Beneficial Owners) Amendment Rules, 2019 amended the Companies (Significant Beneficial Owners) Rules, 2018 with effect from 8th February 2019. Earlier, we discussed Significant Beneficial Interest, declaration, register and return related here and here.  In this post, we will discuss the declaration, register and return of Significant Beneficial Ownership.

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Active Company Tagging Identities and Verification (ACTIVE)


According to old Indian saying – Daroga (Inspector) is the Supreme Sovereign. We, professionals, have a similar experience with Indian corporate law. Ministry of Corporate Affairs (MCA) notified a new rule 25A by way of the Company (Incorporation) Amendment Rules 2019 with effect from 25th February 2019. In this post, we will discuss Rule 25A and Form ACTIVE which technically is Form INC – 22A.

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Declaration by Significant Beneficial Owner


The law stated in this post is valid from 8th February 2019. The earlier post on the subject here was valid from 14th June 2018 till 7th February 2019.

Section 90 of the Companies Act 2013 substituted by a new set of law by the Companies Amendment Act, 2017 with effect from 13th June 2018. It is a drastic change to understand and need urgent attention for all companies. Amended Section 90 and rules made thereunder has already been notified with effect from 13th June 2018 and 14th June 2018. However, the Companies Amendment Ordinance, 2018 as well as The Companies Amendment Act, 2019 amended Section 90 with effect from 2nd November 2018.  Thereafter, the Companies (Significant Beneficial Owners) Amendment Rules, 2019 amended the Companies (Significant Beneficial Owners) Rules, 2018 with effect from 8th February 2019. In last post here, we discussed what constitutes Significant Beneficial Ownership under the amended law.  In this post, we will discuss the declaration, register and return of Significant Beneficial Ownership.

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SIGNIFICANT BENEFICIAL OWNER


The law stated in this post is valid from 8th February 2019. The earlier post on the subject here was valid from 14th June 2018 till 7th February 2019.

Note: Earlier Section 90 {Invesigation of Beneficial Ownership} as applicable form 1st April 2014 to 13 June 2018 was discussed here.

Section 90 of the Companies Act 2013 substituted by a new set of law. It is a drastic change to understand and need urgent attention for all companies. Amended Section 90 and rules made thereunder has been notified with effect from 13th June 2018 and 14th June 2018. However, the Companies Amendment Ordinance, 2018 as well as The Companies Amendment Act, 2019 amended Section 90 with effect from 2nd November 2018.  Thereafter, the Companies (Significant Beneficial Owners) Amendment Rules, 2019 amended the Companies (Significant Beneficial Owners) Rules, 2018 with effect from 8th February 2019.

In this post, we will discuss what constitutes Significant Beneficial Ownership under the amended law.

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REGISTERED OFFICE OF THE COMPANY


The government of India promulgated a temporary law called the Companies (Amendment) ordinance 2018 on 2nd November 2018 to by parachute landing of few more reform measure. To continue the law government later promulgated the Company(Amendment) Ordinance, 2019

Readers may read this post as a law applicable with effect from 2nd November 2018 till passing the law by the Parliament. These provisions may continue in force after parliamentary approval. In this post we will discuss, the laws related to registered office in brief post the companies (Amendment) Ordinance 2018 and 2019.

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Return of Loans, Deposits and a “not a Deposits”


After the recent amendment dated 22nd January 2019, Form DPT – 3 which has its legal name as “Return of Deposit” shall be used for filing return of deposit or particulars of a transaction not considered as deposit or both. It includes Loan but excludes capital and day to day business receipts. We will discuss seriously latest amendment in these “no longer only the Deposits Rules, 2014”.

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