Company ACTIVE Compliance 2019 Ministry Of Corporate Affairs has introduced additional compliance to be fulfilled by all companies registered under the companies act 2013 including One Person Company, Private Limited Company, Section 8 Company, or a Limited company. This initiative is taken in order to filter shell companies and maintain an updated KYC record of all the companies which are genuinely conducting business. An additional eForm INC 22A ACTIVE which stands for “Active Company Tagging Identities and Verification” is [...]

Mandatory Return of Deposits Earlier a special set of companies were required to file the eForm DPT -3 within specified time, but according to the recent amendment to Companies (Acceptance Of Deposit) Amendment Rules 2019 published as on 22nd January 2019, Rule 16A(3) mandates every company other than a Government company to file a return giving particulars of all outstanding loans which are not considered as deposits as per the act or any outstanding receipts of money. Applicability: The [...]

MSME Reporting Compliance | MSME Form 1 Every specified company is required to file a half yearly return with the eForm MSME Form 1 providing the details of outstanding dues to Micro, Small and Medium Enterprises. The term specified company here would mean to include all such companies who have inward transactions such as supplies with Micro, Small and Medium Enterprises and payment for such supplies are outstanding for a period of forty-five days or more from the date [...]

Certificate of Commencement of Business The Companies Amendment Act 2018 has brought back the requirement to file a certificate of commencement of business for all companies registered on or after 2nd November 2018. This is particularly important compliance to follow because the penalties for non-filing are really high. Requirement & Procedure: This particular compliance has a straightforward process, a certificate of commencement of business has to be obtained within 180 days of the date of incorporation and an eForm [...]

Meetings for a Private limited Company As power to take decisions for a company is vested upon board and its shareholders, naturally there is a requirement for them to meet up and decide.This is not only generalized requirement but there are specific provisions mandating Meetings of Board and Shareholders specifying frequency, purpose to meet and types of resolutions required. Provisions governing meetings of board and shareholders is discussed in following paragraphs. Types of Meetings and procedural aspects Board Meetings [...]

ROC Compliance For Loans In Private Limited Companies Companies, being artificial entities with perpetual succession and a common seal, are governed by a board of directors who serve as the supreme governing body, empowered to exercise all authorized powers. The Ministry of Corporate Affairs (MCA) oversees the administration of the Companies Act, functioning as the central authority responsible for monitoring compliance and operations of companies. While the board exercises its powers through resolutions, either in meetings or through circulation, [...]