Tag Archives: The Companies Amendment Act 2017

Criminal Liability in case of Audit Firm

Recently, after the Companies (Audit and Auditor) (2nd) Amendment Rules, 2018 some section of media reported that an audit firm shall be criminally liable under the company law for a fraudulent act of an audit partner, while few others have view that there is some new position of law regarding criminal liability of audit firms. Both of these are slightly wrong interpretations.

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Effective Provisions of the Companies Amendment Act, 2017

With three Notifications S.O. 351(E) dated 23rd January 2018, S.O. 630(E) dated 9th February 2018 and S.O. 1833(E) dated 7th May 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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Debenture w.e.f. 9th February 2018

The Companies (Amendment) Act, 2017 has amended the definition of Debenture with an interesting and confusing way. We will discuss it hereunder.

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