The Ministry of Corporate Affairs (MCA) vide General Circular no. 15/2020 dated 10th April 2020, has issued FAQs on Corporate Social Responsibility in related to COVID-19. In this sensitive stage of pandemic in India, the government has provided clarification regarding the contribution made to various funds or schemes will be categorized under CSR contribution or…
Section 149 and 152 of the Companies Act, 2013 along with allied rules governs the procedure of appointment of Director in a Private Limited or Public Limited Company. Let us first understand the various nature or kinds of appointment of Directors recognised under Companies Act, 2013. Nature of Appointment of Directors First directors – the…
Compliances has always been an integral part of operating a Company. But now, in this 21st century and new era of technology and increasing number of frauds it has become mandatory for the Government to ensure good governance for betterment and safety of the stakeholders. This article is targeted to cover all compliances for a…
The name “Nidhi” in Nidhi Company means “Treasure”.The purpose of incorporating a Nidhi Company is to encourage savings as well as thrift amongst its members. To fulfil this objective of cultivating the habit of saving and frugality amongst its members, Nidhi companies are allowed to take a deposit from and lend to the members only.…
In brief COMPANIES FRESH START SCHEME, 2020 (CFSS-2020) The Ministry has received various representations from stakeholders requesting for grant of one-time opportunity, so as to enable them to compete their pending compliances by filing necessary forms without higher/additional fees. In view of the same, the Ministry of Corporate Affairs (MCA) has come up with a…
MCA has introduced online proficiency test will be conducted by the Indian Institute of Corporate Affairs (IICA) which is mandatory all the Independent Directors. The role of Independent Directors first came into limelight after the Satyam scandal and 10 years on, we wonder how far they have come. Their powers and responsibilities towards stakeholders are enormous…