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GUIDELINES FOR FUNDING FOR RESEARCH STUDIES ON CORPORATE GOVERNANCE

224 ViewsMinistry of Corporate Affairs(Research & Analysis Division) GUIDELINES FOR FUNDING FOR RESEARCH STUDIES ON CORPORATE GOVERNANCE 1.1. The primary objective of the scheme viz.,“Funding for Research Studies on Corporate Governance” of the Ministry of Corporate Affairs is to better utilise the repository of corporate sector data available with the Ministry under the MCA21 e-governance …

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Invitation for Public Comments on Draft Valuers Bill, 2020

159 ViewsGovernment of IndiaMinistry of Corporate Affairs(PI Section) Sub: Invitation for Public Comments on Draft Valuers Bill, 2020 Ministry of Corporate Affairs had constituted a Committee of Experts (CoE) under the Chairpersonship of Shri M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI) on 30th August 2019 to examine the need for an …

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Last Date of Submission of Suggestions has been extended from April 10, 2020 to April 20, 2020.

138 ViewsGovernment of IndiaMinistry of Corporate Affairs Invitation for Public Comments on the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 9th April 2020New Delhi Ministry of Corporate Affairs had invited for public comments on the draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 vide a notice dated 13th March, 2020. The last date …

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Functioning of NCLT during the lock down period

106 ViewsNationalCompanyLawTribunal 6thFloor,Block-3,CGOComplex,LodhiRoadNewDelhi-110003Dated:28.3.202 NOTICE In view of the lock down announced by the Government of India until 14.4.2020,to curtail the spread of COVID 19, the directions given in the notice dated 22.3.2020 issued by NCLT are here by extended up to 14.4.2020. 2. This issues with approval of Hon’ble Acting President, NCLT. (Shiv Ram Bairwa)Registrar

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

179 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, …

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Clarification on contribution to PM CARES Fund as eligible CSR activity

245 ViewseF. No. CSR-05/1/2020-CSR-MCAGOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRS 5th floor, A Wing, Shastri Bhawan,Dr. R.P. Road. New Delhi-11000128.03.2020 OFFICE MEMORANDUM Subject: Clarification on contribution to PM CARES Fund as eligible CSR activity under item no. (viii) of the Schedule VII of Companies Act, 2013. The Government of India has set up the Prime Minister’s …

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THE COMPANIES (AMENDMENT) BILL, 2020

127 ViewsTHE COMPANIES (AMENDMENT) BILL, 2020ABILLfurther to amend the Companies Act, 2013. BE it enacted by Parliament in the Seventy-first Year of the Republic of India as follows:— (1) This Act may be called the Companies (Amendment) Act, 2020.(2) It shall come into force on such date as the Central Government may, by notification in …

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

128 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 …

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Corona Virus | Board meetings under the Companies Act, 2013

165 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 …

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Privatisation of Companies

168 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 …

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

157 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 …

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

172 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 …

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CCI approves acquisition of Teesta Urja Limited by Greenko Mauritius

167 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). …

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Cabinet approves Companies (Second Amendment) Bill, 2019

183 ViewsMinistry of Corporate Affairs The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the Companies (Second Amendment) Bill, 2019 to amend the Companies Act, 2013. The Bill would remove criminality under the Act in case of defaults which can be determined objectively and which, otherwise, lack the element of fraud …

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

161 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 …

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

4,256 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 …

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

252 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 …

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Regulation of E-Commerce Companies

6,182 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, …

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MCA deactivates 19,40,313 Director Identification Numbers

281 ViewsMinistry of Corporate Affairs The Ministry of Corporate Affairs (MCA) deactivated 19,40,313 Director Identification Numbers (DINs) in the MCA21 Database due to non-filing of Know Your Client  (KYC), as on 28.11.2019. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question …

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18,782 cases filed under Insolvency & Bankruptcy Code

234 ViewsMinistry of Corporate Affairs As on 30th June, 2019, a total of 18,782 cases have been filed under Insolvency and Bankruptcy Code (IBC), 2016, of which 2,173 cases have been admitted under IBC. Out of 2,173 admitted cases, 1,274 cases were ongoing under different stages of resolution process, 129 cases have resulted in resolution, 491 …

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IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

222 ViewsMinistry of Corporate Affairs The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2019 on 28th November 2019. Some of the amendments made by these Regulations are consequential to the Insolvency and Bankruptcy Code (Amendment) Act, 2019, which came …

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