Secretarial Audit Secretarial Audit is a consistence review. It is a part of total compliance management in an organization. It is a compelling instruments for corporate consistence the executives, which assists with recognizing resistance and to take restorative measures. Applicability (1) For the purposes of sub-section (1) of section 204, the other class of companies shall be as under- (a......

MCA has notified a phase-wise convergence to IND AS from current accounting standards. IND AS shall be adopted by specific classes of companies based on their Net worth and listing status. Let’s see the each of the phases in detail below: Phase I Mandatory applicability of IND AS to all companies from 1st April 2016, provided:   It is a listed or unlisted company Its Net wor......

Foreign Liabilities and Assets Annual Return (FLA Return) – FLAIR System, Key Points & FAQ’s FLA Full Form:- FLA stands for Foreign Liabilities and Assets. Meaning of FLA Return:- It’s an Annual Return on Foreign Liabilities and Assets required to be filed by an Indian Company and LLP to RBI within the prescribed due date. This Return is filed Online on RBI Portal. The p......

Applicability of Filing Financial Statements in XBRL mode with Registrar of Companies: Below mentioned class of companies are required to file their financial statements and other documents under section 137 of the Companies Act, 2013 with the Registrar in e-form AOC-4 XBRL: –  All companies listed in the stock exchange in India and their Indian subs......

The due date of AGM for the FY ended 31.03.2020 has been extended till 31.12.2020 for companies. Various representations have been received from the companies, Industry bodies and Professional Institutes pointing out that several companies are finding it difficult to hold their AGM for the financial year ended on 31.03.2020 due to the difficulties faced in view of the Covid-19 Pandemic; The repr......

The remuneration of the auditor of a company shall be fixed in its general meeting or in such manner as may be determined therein: Provided that the Board may fix remuneration of the first auditor appointed by it. (2) The remuneration under sub-section (1) shall, in addition to the fee payable to an auditor, include the expenses, if any, incurred by the auditor in connection with the audit of th......

 (1) The Central Government shall establish a Fund to be called the Investor Education and Protection Fund (herein referred to as the Fund). (2) There shall be credited to the Fund— (a) the amount given by the Central Government by way of grants after due appropriation made by Parliament by law in this behalf for being utilised for the purposes of the Fund; (b) donations given to the......

Introduction Indian policymakers seem to have realized the importance of manufacturing in providing jobs but it is also equally important to realize that the path leading to higher manufacturing employment has to necessarily cross a difficult bridge called labour reforms. Labour laws in India are perceived by trade and industry circles as complex, archaic and not conducive to promoting the ......

I. Compliance Requirement under Goods & Services Tax Act, (GST) 2017   Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayer, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes & Customs, has extended the due date for Filing GST Returns.   GST Compliance......

1. What is the need for bringing amendments in the Indian Stamp Act, 1899?   Answer: Securities market transactions is the main reason for such amendments. There is a multiple rates collection of stamp duty on securities market transactions for the same instrument. It results in jurisdictional disputes and multiple incidences of duty, thereby raising the transaction costs in the securities ......

The students are aware that vide Announcement dated 15th June 2020, the Institute, after taking in account the academic interests and health safeguards of students intending to appear in May 2020 Examinations, had enabled them to change their centre for appearance in May/ July 2020 Examination and/or to decide, at their free will, to “Opt Out” of the May/ July 2020 Examinations wit......

1. Timely lockdown saved lakhs of lives "In comparison to other countries across the globe, India is still in a very stable situation in the battle against Covid-19. Timely decisions and measures have played a great role," Modi said. 2. Hailed taxpayers Prime Minister Modi said, "Today, if the government is able to provide free food grains to the poor & the needy, the credit goes to two sec......

Q.) How to classify an Enterprise?   Enterprise can be classified as-   An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: -   Particulars Investment in plant and machinery or equipment Micro does not exceed one crore rupees and turnover does not exceed five crore rupees ......

MINISTRY OF CORPORATE AFFAIRS vide NOTIFICATION dated 5th June, 2020 amended Companies (Share Capital and Debentures Amendment Rules, 2020.   (1) These rules may be called the Companies (Share Capital and Debentures Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the official Gazette.    Analysis of such Amendment:   2.......

Advisory on disclosure of material impact  of  Covid–19  pandemic  on listed entities under SEBI Listing Obligations and Disclosure  Requirements)  Regulations, 2015(‘LODR Regulations/‘LODR’)   The Covid–19 pandemic and the consequent lockdown restrictions imposed  by  national governments  has impacted businesses&nb......

                                                         Delhi Chief Minister Arvind Kejriwal today announced a slew of ......

                               As a nation, we stand at a very crucial juncture. Such a big disaster is a signal for India, it has brought a message and opportunity 1. Debt due to COVID excluded from default On matters concerning the Insolvency and Bankruptcy Code (IBC), Sitharaman said, 'Debts related to COVID sha......

                                 Finance Minister Nirmala Sitharaman begins address Today is the 4th day where after the PM's address to the nation on building a Atmanirbhar Bharat, we have been announcing in several tranches steps t......

In view of the impact of the COVID-19 pandemic and the lockdown measures undertaken by Central and State Governments, based on representations, the following one time relaxations are granted from strict enforcement of certain regulations of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereafter “Takeover Regulations) and SEBI (Buy-back of securities) Regulations,......

India is in the 50th day of its nationwide lockdown imposed in the month of March by Prime Minister Narendra Modi to battle Covid-19 spread in India. PM Modi addressed the nation on Covid-19 crisis and the ongoing lockdown situation, five days before the termination date of Lockdown 3.0. PM Modi announced an extension of lockdown and said that the details regarding the same will follow soon. This ......