CORPORATE SOCIAL RESPONSIBILITY UNDER THE COMPANIES ACT, 2013 For conducting its business activities, a company exploits various resources of society and the environment. Corporate Social Responsibility (CSR) is an act of incorporating social and environmental concerns into the business model of the company. CSR has always been a topic of discussion in all forums. To achieve the i......

INTRODUCTION Extra-Ordinary General Meeting means a duly convened, held and conducted Meeting of Members. Annual General Meeting shall be conducted once in a year and there is a gap of around a year or 18 months between two annual general meetings. Therefore, if an important business arises in between two annual general meetings that require shareholders’ approval, then an extraordinary gen......

The Ministry of Corporate Affairs (MCA) vide its General Circular No 14/2020 issued earlier, on  April 08, 2020, allowed the Companies to hold their Extra-Ordinary General Meetings (EGM) through Video Conferencing (VC) or Other Audio Visual Means (OAVM). Later on May 05, 2020, MCA has come up with another Circular i.e. General Circular No 20/2020 allowing th......

The Universal crisis caused by COVID-19 has led to revolutionary changes in the way the restaurant industry operates. With restaurants and hotels being shut, delivery kitchens, ghost restaurants or cloud kitchens are increasingly becoming more relevant. Even five-star chains across the country are counting on delivery operations to survive the crisis. The Oberoi Bengaluru, the Taj Group of Hotels,......

Crux of RBI Governor Press Conference dated 17.04.2020 RBI Governor Shaktikanta Das addressed a press briefing today. This was his second briefing since the COVID-19 outbreak. In his previous address on March 27, Das announced several relief measures approved by its Monetary Policy Committee (MPC) to counter the economic slowdown. RBI Governor thanked Corona Warriors forefront of the battle agai......

The Corporate Affairs Ministry (MCA) has come up with the ‘Companies Fresh Start Scheme 2020’ to enable companies make good of any filing-related defaults, irrespective of duration of default, and make a fresh start as a fully compliant entity. To provide a similar facility to Limited Liability Partnerships (LLPs), the MCA has also revised the ‘LLP Settlement Scheme, 2020’......

RBI's COVID-19 Regulatory Package A day after Finance Minister Nirmala Sitharaman unveiled a Rs 1.7 lakh crore economic welfare package for the poor in the backdrop of the coronavius pandemic, the Reserve Bank of India (RBI) Governor Shaktikanta Das has announced a press conference at 10 am on March 27. Beginning March 25, for a period of three weeks, India is under a complete lock-down to curb ......

The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press conference through video conferencing here today, Smt. Sitharaman announced much-needed relief meas......

The Constitution (Amendment) Bill, 2020 as a private member bill was introduced in the Rajya Sabha on February 7 seeking to introduce a Directive Principle in the Constitution with respect to population control measures. As the reason for the bill, it was stated: The fact that the population of India has already crossed over 125 crores is really fright......

Food standards have been always the main concern of the Indian government. To maintain all these standards for the security and safety of the health of the public they have established FSSAI registration for every type of food business operators in India. In this article, we will discuss all the important aspects of FSSAI license in India. To provide assurance of food safety, Food businesses must......

What is Startup India?                                                             &n......

Highlights and Boosters While the global economy is battling with strong headwinds, India’s economy is seeing a robust growth and is on the path to emerge out as one of the fastest growing economies in the world. A day after 'Unfettered Sky Blue' Economic Survey, breaking away from tradition, Finance Minister Nirmala Sitharaman today presented Modi government's first Budget in the second t......

MCA   Amendment No. 1: Filing of DIR-3 KYC required on an annual basis:   It has been clarified by the MCA on 13th April, 2019 that DIN holders are required to file the DIR-3 KYC Form every year so that they are aware of and confirm the data and information as available in the MCA21 system.   MCA has mentioned that the updated version of the form is under proces......

What is a startup? A startup is a small business started with the objective to solve a problem. These are the companies which are generally operated by the founders or a single person. These companies are generally offering those services which the founders think are not available or are available in inferior quality. Startups provide jobs opportunities to the people which helps in the econo......

Shifting of Registered office W. E. F 06.03.2019 Rule 30(5) the word “with the widest circulation”, the words “with wide circulation” is substituted. Revised Rule read as The company shall, not more than thirty days before the date of filing the application in Form No. INC.23 - (a) Advertise in Form No.INC.26 in the vernacular newspaper in the principal vernacular ......

In exercise of the powers conferred by sub-section (9) of section 12 and subsections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (incorporation) Rules, 2014, namely: - 1.     (1) These rules may be called the Companies (Incorporation) Amendment Rules, 2019. (2) They shall......

The Ministry of Corporate Affairs notified Companies (Significant Beneficial Ownership) Amendment Rules 2019, to amend the Significant Beneficial Ownership Rules 2018 notified last June. The Rules aim to look-through corporate layers to reveal individual shareholders that ultimately derive economic benefits from and/or control a corporate entity in India. The amendment introduces Rule 2(h) which s......

While the global economy is battling with strong headwinds, India’s economy is seeing robust growth and is on the path to emerge out as one of the fastest growing economies in the world. The Finance minister Mr. Piyush Goyal has presented the Interim Budget 2019-20. This write-up provides an overview of key announcements and proposals made in the Interim Budget. Personal Taxes While ther......

Dear Professional Colleagues, Let’s have a Bird's eye view on some latest amendments of Companies Act, 2013.   Amendment No. 1: Companies (Prospectus and Allotment of Securities) Amendments Rules, 2019 MCA vide its notification dated September 10, 2018, inserted Rule 9A in Companies (Prospectus and Allotment of Securities) Rules, 2014, making it mandatory for all the unlisted publi......

Mergers & Acquisitions - The Global Perspective Mergers and acquisitions are used for improving the competitiveness of companies and gaining an advantage over other firms by gaining greater market share, broadening the portfolio to reduce business risk, entering new markets and geographic spread, and capitalizing on economies of scale. Corporate worldwide have been aggressively building new c......