COMPANY LAW

AGM Through VC or Other OAVM For FY 2019-20

According to Companies Act, 2013- section 96, companies need to hold their Annual General Meeting (AGM) within a period of six months from the date of closing of the financial year (FY). The company who are going to hold their first AGM will be held within a period of nine months from the date of closing of the financial year (FY) of that company. The MCA (Ministry of Corporate Affairs)… Read More »AGM Through VC or Other OAVM For FY 2019-20

ROC Compliance-DPT 3 & MSME 1

DPT-3 form is a one-time return form of loans that need to be filed by a company that has outstanding loans not treated as deposits. According to the latest Ministry of Corporate Affairs (MCA) Amendments, it is mandatory for all the companies excluding the Government Companies to file a onetime return for the outstanding receipts of money which are the loan of the company but are not considered deposits. How… Read More »ROC Compliance-DPT 3 & MSME 1

Mandatory Reporting of Loan by all Companies

MCA vide notification dated 22nd Jan 2019 came with two additional reporting where it wants to know the information about outstanding receipt of money or loan by a company.  DPT 3 is a return of deposits that companies need to file to enounce the information about deposits and/or outstanding receipt of loan or money other than deposits. One-time Reporting – Every Company is needed to submit a onetime return for… Read More »Mandatory Reporting of Loan by all Companies

Conversion of Loan into Equity Share Capital of the Company

Conversion of loan into equity share capital is most credible method to raise capital without immediate investments. To carry out effortless and smooth business, at times, loan is converted into share capital. The new provisions of Companies Act, 2013 says that the conversion of loan into equity shares and the same are contained in section 62(3) of the said Act. The new provisions are effective from 1st April 2014. Current… Read More »Conversion of Loan into Equity Share Capital of the Company