Context: Preference shares is a financial instrument that answers a specific need of companies trying to raise finance but cannot or does not want to do it in the conventional way. The conventional method for a company to raise finance is by issuing equity shares that requires the investor to participate in the risk-reward [...]
Papers out, files in; replacement of hard copies with softcopies is a significant and necessary fallout of work from home. For company secretaries responsible for maintaining secretarial records, it is a critical choice, since a legally valid document is the only evidence of corporate decisions. Given its criticality, Rule 27 and [...]
Working from home is no longer a luxury enjoyed by a few, but a necessity for all, triggered by the lockdown imposed on our society due to the Covid-19 pandemic. Given this necessity, we have formulated five simple questions that enables you to assess the level of security that you [...]
Summary of Notification in the Companies Act, 2013 issued on 28/08/2019 is provided below: The companies (Incorporation) Seventh Amendment Rules, 2019: Through this notification, Form RD-1 (Form for filing application to Regional Director) and Form RD GNL-5 (Form for filing addendum for rectification of defects or completeness) provided for in the Companies (Incorporation) Rules, 2014 are [...]
Summary of Circular for Companies Act, 2013 issued on 21/08/2019 is listed below: MCA Circular on clarification under section 232(6) of the Companies Act, 2013: Through this Circular, the Ministry has clarified the ‘appointed date’ under the scheme of merger and amalgamation of the companies, could be calendar date or may be tied to [...]
Summary of Notifications in the Companies Act, 2013 and IBBI Code, 2016 are listed below: IEPFA (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 w.e.f., 20.08.2019 except for rule 6(i),(iv),(v),(vi),(vii),(viii) effective from on 20.09.2019- issued on 14.08.2019: i. Rule 5 is amended, wherein companies which have transferred any amount to IEPF under the [...]
Summary of notification and Circular in the Companies Act, 2013 and IBBI Code, 2016 issued on 14/08/2019 respectively are listed below: The Companies Amendment Act, 2019: MCA with reference to the Companies Act, 2013 dated 31/07/2019 notifies that the sections 6, 7 and 8, clauses (i), (iii) and clause (iv) of section 14, sections [...]
Summary of Circular in IBBI Code, 2016 issued on 13/8/2019 is listed below: Valuation under the Insolvency and Bankruptcy Code, 2016: Appointment of Registered Valuer: a. The Board has clarified that appointment of any person as a registered valuer other than a valuer registered under Companies (Registered Valuers and Valuation) Rules, 2017 to conduct [...]
Summary of the IBBI Code (Amendment) Act, 2019 issued on 05/08/2019 is listed below: The Insolvency and Bankruptcy Code (Amendment) Act, 2019: Ministry of law and Justice has issued the Insolvency and Bankruptcy Code (Amendment) Act, 2019 wherein eight sections are amended, as detailed: The Corporate insolvency resolutions process mandatorily must be completed within [...]
Summary of Circular issued by SEBI under SEBI (SAST) Regulations, 2011 dated 07/08/2019 is listed below: Circular on Disclosure of reasons for encumbrance by promoter of listed companies w.e.f., 01/10/2019: To bring in more transparency, SEBI directs the Promoters of every listed company to specifically disclose within 2 working days the detailed reasons for [...]
