FFMC i.e. Full Fledge Money Changer is a business under which a concern use to change the particular currency of one country into the currency of another country. This is mainly helpful in cases of tourism where the resident individuals when intend to travel into other countries and for which they require the foreign currency of that particular country. Or whenever the foreign travelers comes to I......

What is Trust   As per the Indian Trust Act 1882, a Trust is an arrangement where the author/ owner (trustor) transfers the property to someone else (trustee) for the benefit of a third person (beneficiary). Such a property is transferred by the author/ trustor to the trustee along with a proclamation that the trustee should hold the property for the beneficiaries of the Trust.   Wh......

What is Due Diligence: Due diligence is a process of research and analysis that is initiated before an acquisition, investment, business partnership or bank loan, in order to determine the value of the subject of the due diligence or whether there are any major issues involved. Such findings are then summarized in a report which is known as the due diligence report.   Due Diligence in case......

Limited Liability Partnership are the best way other than companies where the investment made can be withdrawn by the Designated Partners/ Investors which had been invested by them as Capital Contribution or by way of withdrawal of Profits. Since, in companies the capital contribution can be withdrawn by way of bye back of shares or by way reduction of capital which requires huge compliance work ......

For a country where capital is not readily available, Foreign Direct Investment (FDI) has been an important source of funds for companies. Under FDI, overseas money, either by an individual or entity, is invested in an Indian company. Moreover, FDI in India is now a boom since the Government of India has opened up the ways for FDI by simplifying the process and allowing 100% investment almost in ......

Corporate Social Responsibility (CSR): Corporate social responsibility refers to the initiative and contribution of an enterprise towards the economic, environmental and social welfare of the general community. In this article, we look at some of the major aspects of CSR committees and its Meetings CSR COMMITTEES Constitutions of CSR Committee Companies to which section 135 of Companies A......

In the year 2017, Ministry of Corporate Affairs by taking the ambit of Section 248 which talks about “Power of Registrar to remove name of company from register of companies” struck off more than 2 lakh companies which were not filing its returns for the last many years and the Government was of the view that such companies were not carrying on their business for more than 2 years. And......

Section 96 of the Companies Act, 2013 provides that every company other than a one person company shall in each year hold an Annual General Meeting of its shareholders and not more than fifteen months shall elapse between the date of one annual general meeting of the company and that of the next. Provided that first annual general meeting of the Company shall be held within nine months of the clo......

Wordings of Notification   MCA vides its notification dated 22.01.2019 issued an Order may be called the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 through which reporting was required to be made by Specified Companies before the ROC in MSME FORM 1.   What are Specified Companies   all companies, who get su......

Dear Professional Colleagues, Companies Act, 2013 mandates every company to keep its books of accounts and other related books, papers along with financial statements at the Registered Office of the company. This provision has been given under section 128 of the companies act, 2013. But in many cases, the registered office of the company is being situated a place where the company does not work o......

Dear Professional Colleagues, The Dictionary Meaning of Nidhi in Indian Context “In the Indian context/language means “TREASURE”. However, in the Indian financial sector, it refers to any mutual benefit society notified by the Central / Union Government as a Nidhi Company. Nidhi Companies are created mainly for cultivating the habit of thrift and savings amongst its members......

Directors and their Role in a Company A company, being an artificial person, is managed and controlled by its officers called the directors of the company. According to the inclusive definition under the Companies Act, 2013, a Director means a Director appointed to the Board of a company. The Directors are the head of a company. They are the supreme authority controlling the managerial and other ......

Dear Professional Colleagues, In India, Foreign Direct Investment (‘FDI’) inflows have been witnessing increase every year. Similarly, Indian companies are going global by investing abroad in the recent past.   The importance of FEMA compliances is indispensable considering the fact there are penal consequences in case of non-compliances. The purpose of this article is to ......