The Ministry of Corporate Affairs (MCA) vide its Circular Dated 20th May 2021 clarified on offsetting the excess CSR spent for FY 2019-20. Keeping in view the spread of COVID-19 in India, an appeal dated 30.03.2020 was made to MDs/CEOs of top 1000 companies in terms of market capitalization, to contribute generously to “Prime Minister’s
The Ministry of Corporate Affairs (MCA) vide its Circular No 09/2021 dated 05th May 2021 issues the clarification on the spending of Corporate Social Responsibility (CSR) funds for creating health infrastructure for COVID care, the establishment of oxygen generation and storage plant. The steps have been taken by the MCA keeping in view of the
After the relaxation in Income Tax and Goods and Services Tax (GST) compliances Central Government also came up with the relaxation in Companies Act and Limited Liability Act compliances. The Ministry of Corporate Affairs (MCA) issues following three Circulars regarding the various relaxation in the Company Law compliances considering the severe COVID-19 conditions in the
The Institute of Chartered Accountants of India (ICAI) has vide its announcement dated 15th April 2021 clarifies on appointment and rotation of auditor under Section 139 of the Companies Act, 2013. The full text of the announcement is as follows:- Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 15th April,
The Ministry of Corporate Affairs (MCA) vide its Notification Dated 24th March 2021 amends Schedule III to the Companies Act, 2013 which deals with the format of Balance Sheet. Official Notification is as follows:- MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 24th March, 2021 G.S.R. (E).—In exercise of the powers conferred by sub-section (1) of
The Ministry of Corporate Affairs (MCA) vide its Notification Date appointed the 24th March 2021 for commencement of Section 23 and Section 45 of the Companies (Amendment) Act, 2020. (A) Vide Section 23 of the Companies (Amendment) Act, 2020 Central Government amends the sub-section (7) of Section 124 of the Companies Act, 2013 and replace
The Ministry of Corporate Affairs (MCA) vide its Notification Dated 24th March 2021 in exercising its powers conferred by section 134 read with section 469 of the Companies Act, 2013 notify the Companies (Accounts) Amendment Rules, 2021 to further amend the Companies (Accounts) Rules, 2014. Official Notification is as follows:- MINISTRY OF CORPORATE AFFAIRS NOTIFICATION
The Ministry of Corporate Affairs (MCA) vide its Notification Dated 24th March 2021 exercising its power under section 139, 143, 147 and 148 read with sub-section (1) and (2) of section 469 of Companies Act, 2013 notify the Companies (Audit and Auditors) Amendment Rules, 2021 to further amend the Companies (Audit and Auditors) Rules, 2014.
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 18th March, 2021 S.O. 1257(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 396 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the Act), the Central Government hereby establishes a Central Scrutiny Centre (CSC) for carrying out scrutiny of
The Ministry of Corporate Affairs (MCA) vide its Notification dated 18th March 2021 exercising powers conferred by sub-section (1) and (2) of section 467 of the Companies Act, 2013 amend the Schedule V of the Companies Act, 2013 which deals with “Conditions to be fulfilled for the appointment of a managing or whole-time director or
