Company Law Archives | Page 3 Of 4

Company Law

Director Resignation DIR 11 E form
Company Law
CA. Kavit Vijay

Resignation of Director | DIR-11 | DIR – 12

A Director is part of a collective body of Directors called the Board, responsible for the superintendence, control and direction of the affairs of the Company. Meaning thereby, director is a person who is responsible to carry out operations in the company and perform all other related activities. Every director is allotted with a unique number called as Director’s Identification Number (“DIN”) under Companies Act, 2013 (“The Act”). Registrar of Company (“RoC”) keeps details of all the directors of company including their appointment, change in information related to them and their resignation. 1. Resignation by Director (Section 168 of the

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E-Form PAS-3 | Return of allotment of shares/securities
Company Law
CA. Kavit Vijay

E-Form PAS-3 | Return of allotment of shares/securities

Share capital is that part of share which comes from allotment of shares, i.e., investment made by any person in the company through subscribing shares of such company. Companies Act, 2013 (“The Act”) requires company to inform by filling PAS 2 E Form about allotment of share to the Registrar of Company (“RoC”). Provisions related to allotment of securities to public and private group and provisions of reporting related to allotment of shares is given u/s 39 and 42 of the Act read with Rule 12 and 14 of Companies (Prospectus and Allotment of Securities) Rules, 2014 (“The Rules”). 1.

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Filing of agreement and resolutions with RoC
Company Law
CA. Kavit Vijay

Form MGT-14 E form | Filing of agreement and resolutions with RoC

Registrar of Company (“RoC”) is a body governing companies and is liable to keep all data and information related to the companies. Accordingly, every company is required to inform Registrar of Company (“RoC”) about major actions taken by the company either through passing of any resolutions (at Board meeting or Member’s meeting) or by entering into any agreement. To comply with same, Section 117 of the Companies Act, 2013 (“The Act”) contains provisions which requires companies to file various agreement or resolutions (passed at Board Meeting/Shareholder’s Meeting) with RoC. 1. Filing requirement of Section 117 Section 117(1) of the act

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All about National Financial Reporting Authority(“NFRA”)
Company Law
CA. Kavit Vijay

National Financial Reporting Authority(“NFRA”) | NFRA-1 Filing

With the object of proper compliance with accounting and auditing standards under companies Act, 2013(“The Act”), section 132 of the Act authorizes Central Government (“CG”) to set-up National Financial Reporting Authority (“NFRA”). NFRA would provide for matters related to accounting and auditing standards under the act. This article contains a detailed discussion about constitution of NFRA, applicability of NFRA Rules, Composition of NFRA, powers and responsibility of NFRA and some other relevant information related NFRA. 1. Objective to constitute NFRA National Financial Reporting Authority will be constituted by Central government to provide matter related to accounting and auditing standards. NFRA

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Type of Companies in india
Company Law
CA. Kavit Vijay

Type of companies in India

Let’s talk about company, what do you think when you heard word company, companionship or may be fellowship, maybe you are right, but if we talk about company as a commercial business the word Company is altogether having a different meaning. The word Company becomes a Separate Legal Entity, in other words it becomes a non living person. Company can be defined as “Company means a Legal Entity which was formed or incorporated under Companies Act 2013 or under any previous company law.” There are several types of companies in India. If we comes upto types of companies, it can

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All about AOC 4
ROC Compliances
CA. Kavit Vijay

Filling financial statements with ROC every year | AOC 4 E FORM

Every company including OPC is required to file its financial statement (i.e., Balance sheet, Profit & Loss Account, Cash Flow statement and other documents) with RoC within prescribed time limit in form AOC-4. Non-filing of form leads to monetart and non-monetary penal consequences against company and its managerial personnel.

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Directors to File DIR KYC 3
ROC Compliances
CA. Kavit Vijay

Every Director to submit there KYC every year with ROC in DIR 3 KYC FORM

DIR-3 KYC is filed to update director’s details in MCA database. Every director holding DIN with “Approved” status as on 31st March is required to file DIR-3 KYC every year on or before 30th April of the succeeding year. Non-filing of form leads to “Deactivation” of DIN. Such director will not be authorized to sign any document on behalf of company in which he is a director till such default continues.

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Certificate of incorporation (COI) v/s Commencement of Business (COB)
Company Law
CA. Kavit Vijay

Certificate of incorporation (COI) v/s Commencement of Business (COB)

Basis CERTIFICATE OF INCORPORATION (COI) CERTIFICATE OF COMMENCEMENT OF BUSINESS (COB) Applicability Certificate of incorporation is applicable to all class of companies irrespective of share capital. Applicability of Certificate of commencement of business vary with time to time. As in starting it only applicable to public companies, at current scenario it applicable to all the companies having share capital whether private or public. Conclusiveness Certificate of incorporation is legal document which serves as a conclusive evidence that all the requirements of this Act have been completed with all respect by incorporated company. Certificate of commencement of business is a document

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