ROC

Additional Director Appointment under Companies Act, 2013

Any Individual can be appointed as an Additional Director by a company under Companies Act, 2013-section 161. If the Board of Directors(BOD) needs one more director to be appointed in company because of any reason and neither can wait till the upcoming AGM nor want to hold an EGM, then Board of Directors can appoint an additional director. For additional director appointment, the AoA (articles of association) must contain a… Read More »Additional Director Appointment under Companies Act, 2013

All About DPT-3

DPT–3 form is the statement return which is needed to be filed by every company except government company which has accepted deposits as per the definition mentioned in section 73 and rules made thereunder. DPT–3 form is filed as per the rule 16 of Companies (Acceptance of deposit) rules. It is a one-time return form of loans that required to be filed by a company who has outstanding loans not… Read More »All About DPT-3

All About DIR KYC-3

Director Identification Number also known as DIN, refers to a unique identification number allotted to an individual who is willing to be a director or is an existing director of a company. DIN is earned by filing a form known as e-Form DIR-3, which was initially a single-time process to be carried out by the one who wishes to become a director in one or more than one company. Important… Read More »All About DIR KYC-3

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

COVID-19 VOLUNTARY WFH Declaration for Companies & LLPs-MCA

The Ministry of Corporate Affairs (MCA) has clarified that its recently announced decision of asking corporates and limited liability partners (LLPs) to submit a form which is web-based to confirm their readiness to deal with the Covid-19 threat is “purely voluntary”. There will be no fee applicable for the CAR aka Company Affirmation of Readiness towards Covid-19 form, and it is completely voluntary. According to MCA, the CAR form is… Read More »COVID-19 VOLUNTARY WFH Declaration for Companies & LLPs-MCA

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