Category: Companies Act

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Compliance report on Corporate Governance by Listed Entities

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Introduction to Corporate Governance Compliance Corporate governance is a system of rules, practices, and processes by which a company is directed and controlled. The Corporate Governance Report is an essential part of the disclosure obligations of listed companies. It provides information about how the company’s governance structure aligns with regulatory requirements, ensuring accountability, transparency, and fairness in […]

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MCA Update: Deadline for Filing CSR-2 Return

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Ministry of Corporate Affairs vide its notification dated 24th September, 2024 has notified that for the Financial Year 2023 – 2024, Form CSR – 2 shall be filed on or before 31st December, 2024. This CSR-2 return must be filed separately from the AOC-4, which is the annual return form due within 30 days of […]

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Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2024

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The amendment provides that where the transferor foreign company incorporated outside India being a holding company and the transferee Indian company being a wholly owned subsidiary company incorporated in India, enter into merger or amalgamation, both the companies shall obtain the prior approval of the Reserve Bank of India and application shall be made by […]

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Specified Companies to report dealing with MSEs

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Introduction On 15thJuly 2024, The Ministry of Corporate Affairs implemented major changes to the reporting requirements for specified companies that delay payments to the Micro and Small Enterprises (MSEs). This is to enhance protection in regard to finance for Micro and Small Enterprises (MSEs) This notification further expands on the foundation built by the initial […]

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Physical verification of the registered office of the company under Section 12(9) of the Companies Act 2013

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The Ministry of Corporate Affairs (‘MCA’) vide its Notification dated 18th August, 2022, has amended Companies (Incorporation) Rules, 2014 by notifying Companies (Incorporation) Third Amendment Rules, 2022. However, Companies (Incorporation) Third Amendment Rules, 2022 shall come into force from the date of their publication in the Official Gazette. By the aforesaid amendment, a new Rule […]

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Appointing directors from land sharing neighboring countries – Mandatory security clearance from MHA

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Ministry of Home Affairs on 01st June 2022 issued a notification requiring to amending the Companies (Appointment and Qualification of Directors) Rules, 2014. In pursuant to the amendment, it will become mandatory to obtain security clearance for individuals from countries sharing land borders with India before being appointed as directors on the boards of Indian […]

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Filing of report on Corporate Social Responsibility for FY 2020-2021 after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS)

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As another progression towards CSR Reporting and making it as a part of annual disclosure, Ministry of Corporate Affairs (MCA) vide its notification dated 11th February, 2022 has notified Companies (Accounts) Amendment Rules, 2022 which seeks to amend the Companies (Accounts) Rules, 2014. Pursuant to amendment in the Companies (Accounts) Rules, 2014 a new sub-rule […]

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New definition of Small Company is applicable from Financial Year 2021-22 onwards

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In exercise of the powers conferred by sub-sections (1) and (2) of Section 469 of the Companies Act, 2013 (“CA, 2013”), the Central Government, vide Notification GSR 92(E) dated 01st February, 2021 has amended the Companies (Specification of Definitions Details) Rules, 2014 which shall come into force on the 1st day of April, 2021. The […]

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