DVG & Associates, Company Secretaries, Mumbai
CS Dhaval Gusani is a founder of DVG & Associates, Company Secretaries and Corporate Law Professionals. He is a Commerce Graduate and an Associate Member of the Institute of Company Secretaries of India (ICSI). He has cumulative experience of more than 3 years with Listed Company, Chartered Accountants and Company Secretaries firms b...
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DVG & Associates is a COMMITTED, RESPONSIVE and RESULT ORIENTED Company Secretaries and Corporate Law Consultancy firm based at Mumbai. During short span of time, DVG creates a niche in the market by offering its quality and value added services to the corporates across the Mumbai and other part of the Country.
Company Secretary
SMEs are backbone of India economy. Earlier, the large organizations were only considered potential economy boosters but now the scenario has changed. Small and medium-sized enterprises (SMEs) are seen as the growth engine of the Indian economy. There are over 5.5 crore small enterprises that drive our Indian economy through manufacturing, exporting, importing, trading, etc. Along with t......
In many Indian corporate frauds, it is found that independent directors either were just mute spectators or failed to detect an early signs of fraud. In some companies, it was found that watchmen, drivers, maids and other assorted individuals lent their name, identity and consent to become an independent director without aware of their roles and responsibilities. Now, Government came out with the ......
Reply to SCN received from MCA-CMS As you all know, the Ministry of Corporate Affairs created AI-based system called “Compliance Monitoring System” which will automatically track certain non-compliances based on various filings done by the corporates. Many companies started receiving show cause notice (SCN) since 4th of November, 2019 regarding violation of Section 96 i.e Annual Gener......
Introduction The Ministry of Corporate Affairs nowadays heavily concerned on enhancing corporate compliance level and transparency among the companies and in this regard they have created “Ministry of Corporate Affairs Compliance Monitoring System” (MCACMS) which will be an Artificial Intelligence-based mechanism. The intent is to make compliance scrutiny system driven and automated t......
Foreign Direct Investment (FDI) has been an important source of funds for companies in a country where capital is scarcely available. Under FDI, overseas money, either by an individual or entity, is invested in an Indian company. Modes of FDI Investment in India can be made either under Automatic Route which does not require approval from RBI or under Approval Route which r......
Introduction In India, People using various means for hiding their real identity and remain in the back door for various ill motives. Government are now actively focusing on illicit usage of trusts, corporate and non-corporate forms, for money laundering, terror financing and parking of black money by individuals who are behind those trusts and other forms. On June 14, 2018, MCA ......
Many investors and business firms are keen to set up a Company in United States of America to expand the horizon of their products and services in other developed regions like US, Europe, and South America. Setting up of an entity in US offers several advantages like enhanced credibility in international market, attraction of angel investors, taxation benefits etc. Any Indian or foreign national ......
SMEs are backbone of India economy. Earlier, the large organizations were only considered potential economy boosters but now the scenario has changed. Small and medium-sized enterprises (SMEs) are seen as the growth engine of the Indian economy. There are over 5.5 crore small enterprises that drive our Indian economy through manufacturing, exporting, importing, trading, etc. Along w......
Govt. of India issued a Consolidated FDI Policy in 2017. The thrust of the policy is to make India an attractive investment destination for foreign investors. A key feature of these policy announcements has been to boost fundraising options for home-grown startups by permitting startups to raise funds through the issuance of Convertible Notes which was earlier not allowed. Convertible Notes are an......
Every year, Singapore witnesses a large influx of foreign capital and global talent from across the globe. This strong liking towards Singapore can be attributed to its pro-business approach, lower tax rates, business-friendly laws, stable political environment, free from corruption and red-tapism, transparency, startup nurturing and among others. Why so much FDI in Singapore or Why to st......
Every Company other than Government company, shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 1st April, 2014 to 31st March, 2019 in form DPT-3 within 90 days from the closure of financial year i.e by 29th June. What is meant for Deposit? “Deposit” includes any rece......
MCA vide its notification dated 22nd January, 2019, notified Companies (Acceptance of Deposits), Amendment Rules, 2019 in which Sub-rule 3 in Rule 16A was added which provides as follows: “Every company other than Government company, shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rul......
SEBI notified the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2019 on 5th April, 2019. SEBI earlier launched ‘Institutional Trading Platform’ for a listing of shares of startups which has failed to gain much traction. So, now SEBI has come up with revised version along with relaxing norms for listing of new-age......
The FCRA was enacted with the primary purpose of regulating the inflow of foreign contributions and ensuring that the received foreign contributions are not utilized for illegal purposes. All charitable organizations in India receiving foreign contributions come under the purview of this Act. Over the last few years, the Home Ministry has been scrutinizing the flow of foreign funds to all charitab......
The Ministry of Corporate Affairs has come up with the KYC of the registered office of the Companies wherein Rule 25A has been inserted in the Companies (Incorporation) Rules, 2014 that shall come into force w.e.f. 25th February 2019 vide notification dated February 21, 2019. Rule 25A: Every company incorporated on or before December 31, 2017, shall file the particulars of ......
The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 have been amended to include the following Regulation: 24A: Secretarial Audit Every listed entity and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall ......
Introduction Merger and amalgamation are restructuring tool which helps companies in expansion and diversification of their business and to achieve their underlying objectives. Merger means an arrangement whereby one or more existing companies merge their identity into another to form a new entity which may or may not be one of those existing entities. The Companies Act, 2013 has introdu......
What is NFRA? National Financial Reporting Authority (NFRA) is a single independent authority proposed in the Companies Act, 2013 for the establishment and enforcement of accounting and auditing standards and oversight of the work of auditors. Why the Need for NFRA? Restructuring or introducing new regulating authorities across the globe has been carried out i......
Introduction Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014 contains provisions of private placements of securities. Recently, both Section 42 and Rule 14 have undergone amendments by way of the Companies (Amendment) Act, 2017 and the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2......
Introduction The Provisions of voluntary winding up have been removed from the Companies Act, 2013 and are now governed by the IBC, 2016. Ministry of Corporate Affairs vide notification dated 30th March 2017 notified Section 59 of the Code which is relating to Voluntary Liquidation of Corporate Persons. On the very next day, the Insolvency and Bankruptcy Board of India (IBBI) vide its notificatio......