DIN holders of DINs marked as ‘Deactivated’ due to non-filing of DIR

128 ViewsDIN holders of DINs marked as ‘Deactivated’ due to non-filing of DIR-3KYC/DIR-3 KYC-Web and those Companies whose compliance status has been marked as “ACTIVE non-compliant” due to non-filing of Active Company Tagging Identities and Verification(ACTIVE) eform are encouraged to become compliant once again in pursuance of the General Circular No. 11 dated 24th March, […]

Sensitization of Nidhi companies towards compliance of provisions of section 406 of Companies Act, 2013

89 ViewsIn order to make regulatory regime for Nidhi Companies more effective and also to accomplish the objectives of transparency & investor friendliness in corporate environment of the country, the Central Government has recently amended the provisions related to NIDHI under the Companies Act and the Rules (effective from 15.08.2019). Under Nidhi Rules, 2014, Nidhi […]

Corona Virus | Board meetings under the Companies Act, 2013

130 Views Considering the need to take precautionary steps to overcome the outbreak of the coronavirus (Covid-19), the Government has in-principle decided to relax the requirement of holding Board meetings with physical presence of directors under section 173 (2) r/w rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 for approval […]

Privatisation of Companies

140 Viewsinistry of Finance The Government has given ‘in-principle’ approval for Privatisation of 24 CPSEs including Subsidiaries, Units and Joint Ventures with sale of majority stake and transfer of management control. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in […]

CCI approves combination involving setting up of Mindspace REIT by K. Raheja Corp Group

116 ViewsMinistry of Corporate Affairs The Competition Commision of India (CCI) approves proposed combination involving setting up of Mindspace REIT (REIT) by K. Raheja Corp Group and acquisition of certain equity shareholding held by selling shareholders in the Target Entities by REIT, under Section 31(1) of the Competition Act, 2002 The parties to the combination […]

CCI approves acquisition of additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust

130 ViewsMinistry of Corporate Affairs The Competition Commision of India (CCI) approves acquisition of additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust. The proposed combination envisages subscription to additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust. Otter is an investment company registered in […]

CCI approves acquisition of Teesta Urja Limited by Greenko Mauritius

130 ViewsMinistry of Corporate Affairs The Competition Commision of India (CCI) approves the acquisition by Greenko Mauritius (Acquirer/Greenko) in Teesta Urja Limited (Target/TUL), under Section 31(1) of the Competition Act, 2002. The proposed combination relates to the acquisition by Greenko of approximately 35% equity stake in the paid-up equity share capital of TUL (Proposed Combination). […]

LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar

128 ViewsMinistry of Corporate Affairs LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar Scheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020 It has been observed that due to applicability of […]

CCI Releases ‘Market Study on E-commerce in India: Key Findings and Observations’

4,223 ViewsMinistry of Corporate Affairs The Competition Commission of India (CCI) released a Report titled ‘Market Study on E-commerce in India: Key Findings and Observations’ today, available at: https://www.cci.gov.in/sites/default/files/whats_newdocument/Market-study-on-e-Commerce-in-India.pdf. The Market Study on E-commerce in India (‘the study’) was initiated by the CCI in April 2019 with a view to better understand the functioning of e-commerce […]

Sanctioned for prosecution given to 366 cases in violation of CSR norms

228 ViewsMinistry of Corporate Affairs Whenever any violation of Corporate Social Responsibility (CSR) provisions is reported, action against such non-compliant Companies are initiated as per provisions of Companies Act, 2013 after due examination of records. So far, sanction for prosecution has been accorded in 366 cases. All CSR related offences are compoundable. So far 118 […]

Regulation of E-Commerce Companies

6,150 ViewsMinistry of Commerce & Industry There is no distinction between the taxation regimes of Indian and foreign e-commerce companies as such, however the taxation regimes applicable to domestic companies and foreign companies differ. The income of domestic companies is taxed at the rate of 30% plus surcharge and cess however the Finance (No.2) Act, […]