With a view to promote the ease of reporting of transactions related to Foreign Direct Investment (FDI),the Reserve Bank of India has issued Circular on 1st February, 2016 in respect of: - "Foreign Direct Investment –Reporting under FDI Scheme, Mandatory filing of form ARF, FCGPR and FCTRS on e-Biz platform and; Discontinuation of physical…

As per section 2(41) of companies Act, 2013 every Company is required to follow uniform Financial Year ending on 31st March. Companies following a different FY were given a transition period of 2 years to comply with the requirement. It means Company has to comply with this provision by 31st…

 1.      Can a Non- Resident incorporate a Company in India? Yes, a non-resident can incorporate a Company in India. But every Company shall have at least one Resident Director. Resident Director means a director who has stayed in India for a total period of not less than 182 days in…

Updated on 16 March 2022 Can a Non-Resident/ Foreign National/ Foreign Citizen become Director of an Indian Company?  Yes,  a foreign national or foreign citizen or Non-Resident Indians residing abroad can be appointed as a Director on the Board of Indian companies whether public listed or unlisted or private. He…

Postal Ballot under Companies Act, 2013 Section 110 of Companies Act, 2013 and Rule 22 of Companies (Management and Administration) Rules, 2014 provides for voting by Postal Ballot. POSTAL BALLOT means voting by post or through electronic means within a period of thirty days from the date of dispatch of the…

Annual means yearly, return means statement. Thus, Annual Return means a Yearly statement which gives essential information about a Company's composition, activities, and financial position, and which must be filed by every Company whether having share capital or not. Contents of Annual Return: - Every Company shall prepare Annual Return in Form MGT- 7 containing…

Updated as on 26 June 2021  Applicable Provisions: Section 173(2) of Companies Act, 2013(the Act) Rule 3 of Companies (Meeting of Board and its Powers) Rules, 2014( the rules) Rule 4 of Companies (Meeting of Board and its Powers) Rules, 2014 (Omitted vide Ministry of Corporate Affairs vide Notification dated…

The provisions of the Act require LLPs to file the documents like Statement of Account and Solvency (SAS) and Annual Return (AR) and notices in respect of changes among partners etc. within the time specifically indicated in relevant provisions. The Act contains provisions for allowing LLPs to file such documents…

Section 118(10) of the Companies Act, 2013 mandates companies to observe Secretarial Standards with respect to General and Board Meetings specified as such by the Institute of Company Secretaries of India. Secretarial Standards apply to all companies. IMPORTANT POINTS TO BE NOTED: SS-1 is for Board Meetings and SS-2 is…

Section 185 of Companies Act, 2013 Unless otherwise provided, no company shall directly or indirectly; advance any loan to any of its directors or; give any guarantee or provide any security to any person in whom director is interested Exceptions: a.     Giving of any loan to a MD or WTD- As…