Importance of Company Law Advisory

In the recent time, the Government has been stricter in the implementation of the provisions of the Companies Act, 2013 and its Applicable Rules than ever before. The need and urgency to have a Professional Guide to advise you on the applicability of the company law has attracted greater importance. This is because now the Registrar of Companies (popularly known as ROC) is proving to be merciless in striking off the name of the companies and disqualifying their directors among other hardships like charging very high amount of penalties. Not only this, the other wings like the Regional Director (RD), MCA, NCLT and SFIO have all joined their hands together to make the company and their management responsible to the adherence of the Company Law Provisions.

Company Law Compliance

If you are a director of any company and wishes to run a successful company without falling prey to non-compliance, you cannot afford to ignore the company law provisions applicable to your company and become updated with all the changes taking place so swiftly. In the business transactions, it is imperative to see if your company meets the company law compliance in true spirit and for that whether you have someone who can deliver the right advisory of company law or not?

Further, it has been observed that normally in small start-ups where founders get their companies registered through online ventures, they do not get the right advice as to how a company should be ideally run by following all the requirements of the Companies Act, 2013. The business have nobody to guide them as to how company law compliance has to be done and on failing to do so, the management has to pay heavy penalties as the recent amendment in the Companies Act, 2013 has changed all the fines to penalties which is bound to be paid. The dark side of not making compliance on time can also lead to heavy fines or/and imprisonments.

Need of Company Law Advisory

If you just read the above para, it would have been clear to you that now company law compliance has to be there and to make apt compliance, it is advisable to engage someone who is good at company law. Further, the provisions relating to shifting of registered office, change in company information, India entry route through liaison/project/branch office, loan to directors, investment by companies, mandatory meetings, related party transaction, oppression/mis-management, corporate restructuring, due diligence, charge creation/modification, maintaining the mandatory minutes book and applicable registers, provisions relating to director/auditor appointment/resignation/removal/remuneration, filing of financials and annual report within the stipulated time, understating the condonation & compounding provisions, the viable route to exit the business are some of the areas where a professional advisory is recommended. Know that an advisory well taken at time can save you from fines, penalties, and imprisonment under the Companies Act, 2013. Talk to a CS today.

Introducing the Compliance Calendar LLP

Compliance Calendar LLP have a dedicated team of professionals who carry with themselves the relevant experience to help you in understanding and advising the best legal framework impacting business transactions from the company law view handling diverse client requirements and advise on the various compliance requirements including detailed secretarial compliance reviews. The firm uses company law specialists as an intrinsic part of due diligence teams in corporate restructuring projects.

Being a pioneer organization in the field of Company Law, we have a team of experienced Company Secretaries who comes up with Compliance Calendar especially for Company Law just to ensure that your organization is fully compliant with the applicable laws to embrace the ever-changing regulation.

We at Compliance Calendar LLP understand our clients’ needs and various advisory services that may be required under different circumstances in the company law domain. We provide advice to facilitate your business needs as in you wish to change the company information but not sure as to what all formalities have to take place. Our proactive team will look at your situation and work with you to ensure that your expectations are met and that you are abiding by the Companies Act, 2013 and its applicable provisions and law.

Talk to a our Compliance Manager at +91-9988424211 through Call/WhatsApp or email us your queries at info@ccoffice.in

Regulation of Company Law in India

Running a Company in India is administered by the Companies Act, 2013 and its respective Companies Rules. There has been a sea change in the legislative framework from the Companies Act, 1956 to the Companies Act, 2013. More so, there has come a total of four amendments in the original Companies Act, 2013:

• The Companies (1st amendment) Act, 2015
• The Companies (2nd amendment) Act, 2017
• The Companies (3rd amendment) Act, 2019
• The Companies (4th amendment) Bill, 2020

Apart from the above, the Ministry keeps coming up with various Notifications, Circulars, Removal of Difficulties Orders, and other necessary updates for all stakeholders who are directly or indirectly affected with the change in the company law regulation with an intent to bring transparency and increased governance in working of companies in India and to weed out the menace of black money prevailing in the India Inc.

Role of Ministry of Corporate Affairs | www.mca.gov.in

The Ministry of Corporate Affairs (MCA) is an Indian Government Ministry which is primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, Insolvency and Bankruptcy Code, 2016 & other allied Acts and rules & regulations framed there under mainly for regulating the functioning of the corporate sector in accordance with law.