Tag Archives: Regional Director

CONVERSION OF PUBLIC COMPANY INTO PRIVATE COMPANY


Law stated in this post is as on 20th December 2018.

With effect from 18th December 2018, conversion of a public company into a private company requires approval from the Central Government. Earlier such conversion requires approval from the National Company Law Tribunal. This change was made by the Company Amendment (Ordinance) 2018 with effect from 2nd November 2018 and the Companies (Incorporation) 4th Amendment Rules, 2018 with effect from 18th December 2018.

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Financial Year for a company


Law stated in this post is as on 20th December 2018.

Financial Year reflects the reporting period for the purpose of financial and non-financial reporting by a company to its stakeholders including government authorities. Since the financial year of the Government of India is 1st April to 31st March as per the British system. The Companies Act, 2013 aligned financial year for companies registered in India to that of the government. There are certain exemptions to have a different period for the financial year. In this post we will discuss the financial year in light of the companies (Amendment) Ordinance, 2018 read with the companies (Incorporation) Fourth Amendment Rules, 2018 and Notification S.O. 6225 (E) dated 18th December 2018.

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Compounding


The Companies (Amendment) Act 2017 increased importance of compounding of offence manifold. Section 90 of the Companies (Amendment) Act, 2017 read with notification Notification S. O. 630(E) dated 9th February 2018 amended law related to compounding with effect from that date. However, provision of Section 441, as amended, of the Companies Act, 2013 gain momentum with notification Notification S.O. 1833(E) dated 7th May 2018. This notification notified amendment in Section 403. Most compounding application comes due to the late filing of forms constituting the violation of Section 403. Continue reading

Shifting Registered Office to another state


On 27th July 2017, Ministry of Corporate Affairs published a notification in Official Gazette of India amending the rules relating to shifting of registered office of a company from jurisdiction of its present registrar of companies to another registrar of companies. The Companies (Incorporation) Second Amendment Rules, 2017 came into effect from date of publication. In this post, we will discuss shifting of registered office of a company to another state of union territory.

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Shifting Registered Office to different Jurisdiction in same state


On 27th July 2017, Ministry of Corporate Affairs published a notification in Official Gazette of India amending the rules relating to shifting of registered office of a company from jurisdiction of its present registrar of companies to another registrar of companies. The Companies (Incorporation) Second Amendment Rules, 2017 came into effect from date of publication. In present post, we will discuss first aspect of such shifting of registered office – shifting within a state but from one registrar of companies to another registrar of companies.

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Powers Delegated to Regional Director


Government of India delegates its powers time to time to subordinate offices for better implementation of law. Section 458 of the Companies Act, 2016 confers power of such power of delegation in relation to the provision under the Act to the Government of India. Government of India issued notification S.O. 4090(E) dated 19th December 2016 regarding delegation of powers to Regional Directors, which came into effect from that date.

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POWER TO APPOINT INSPECTORS


“We will end the Inspector – Raj”

This is most promising promise by Indian politicians since last 25 years or more. But Inspectors are essential part of our law enforcement system. All prominent laws have provision of inspectors including the Companies Act, 2013. Recently, Ministry of Corporate Affairs circulated a draft of a notification pending publication in Official Gazette. We will discuss this notification and law behind this notification.

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