Company Law

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All about National Financial Reporting Authority(“NFRA”)
Company Law
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. Objective to constitute NFRA National Financial Reporting Authority will be constituted by Central government to provide matter related to accounting and auditing standards. NFRA is

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Type of Companies (1)
Company Law
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
Company Law
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
Company Law
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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‘Active Company Tagging Identities and Verification ACTIVE (INC-22A)
Company Law
Kavit Vijay

Companies to file return for Active Company Tagging Identities and Verification ACTIVE (INC-22A)

The Ministry of Corporate Affairs, vide notification dated 21st February, 2019, has come up with the Companies (Incorporation) Amendment Rules, 2019 which are made effective from 25th February, 2019. With the introduction of the Companies (Incorporation) Amendment Rules, 2019, new rule 25A has been inserted into the Companies (Incorporation) Rules, 2014. The said new rule 25A mandates filing of new e-form ACTIVE (INC-22A). The present article, contained in the form of FAQ, would clear up all the question prevailing in one’s mind with regard to the newly introduced e-form ACTIVE (INC-22A). Further any other required documents, as applicable, can also

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Obtaining Commencement Of Business Certificate
Company Law
Kavit Vijay

Requirement And Procedure For Obtaining Commencement Of Business Certificate

Introduction Vide Companies (Incorporation) Fourth amendment Rules, 2018 Notification.No.F.no 1/13/2013 CL-V, Part-I, Vol, II dated 18th December 2018 and the companies (Amendment) Ordinance, 2018 dated 2nd November 2018. Companies act 2013 has reintroduced the concept which deals with the requirement of Certificate of Commencement of Business. Under the new Ordinance, no company will be allowed to commence its operations / business activities without filing a declaration with Registrar of Companies (ROC) in form INC 20A, within 180 days of its incorporation. Here all you need to know about commencement certificate: What is Commencement certificate? Commencement Certificate is document which contains

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Delayed Payment to MSME
Company Law
Kavit Vijay

Companies to file Return for Delayed Payment to MSME

Introduction: The Central Government under section 9 of Micro, Small and Medium Enterprises Development Act, 2006 (MSMEDA-2006) empowers to issue notification, programmers, guidelines and instructions for the promotion and development of the competitiveness of micro, small and medium enterprises. Using the powers mentioned under section 9 of MSMEDA-2006 the ministry of micro, small and medium enterprise issued the notification S.O. 5622(E) dated 2nd November 2018, wherein all the companies dealing with such enterprises were required to fill return to Ministry of Corporate Affairs stating the following details: The Amount payments due; and The reason of the delay. With reference to

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