 Hi All
RBI and MCA seem to be in a neck-to-neck race in
constantly issuing notifications/ circulars/ regulations all
with an objective of simplifying/ liberalizing the existing
regulatory scenario in the country. This issue of Lexspeak
carries most of them that have been issued during the
fortnight.An article on the Charter documents of a
Company and certain practices followed by ROCs at the time of
registration of a Company makes interesting reading. You can
find all the earlier issues of Lexspeak under Resource Centre
in our website sharadasc.com
To
read the earlier issues and articles Click Here
Sincerely
Lex Valorem Team |
|
Annual Report of the Company in Electronic
mode |
MCA has authorised
Companies to issue the Balance Sheet, Profit and Loss Account,
Directors Report, Auditors Report etc to their members in
electronic mode subject to certain prior requirements w.e.f
29th April, 2011. |
Download Circular
> |
| Changes in e-forms by MCA |
MCA has effected
certain changes in e-form 2, 3, 18, 23C, 24A and 32 through
Companies (Central Government’s) General Rules and Forms
(Amendment) Rules, 2011 w.e.f. 1st May, 2011. |
Download
Notification > |
Marking a Company as “having management dispute”
by ROC under MCA-21 system |
MCA has authorised
ROC to mark the status of a Company as “having management
dispute” on the basis of complaints received in his office.
Any forms filled with ROC by the Companies with such status
will not be approved till the status is changed to
“Active”. |
Download
Circular > |
| Authorised agencies for electronic voting |
MCA recognises
voting by members in electronic mode. In order to make the
process secure and accurate only agencies authorised by MCA
for this purpose must be used. |
Download
Circular > |
Opening of Escrow Accounts for FDI
transactions |
RBI has permitted
AD Category – I banks to open and maintain Escrow Accounts in
India without its prior approval on behalf of residents and/or
non-residents towards payment of share purchase consideration
as part of FDI transactions subject to certain terms and
conditions. Similarly SEBI authorised Depository Participants
have been authorised to open Escrow Accounts in case of
securities’ accounts. |
Download
Circular > |
| Pledge of shares for business purposes |
RBI has been
decided to delegate powers to the AD Category – I banks to
allow pledge of shares of an Indian company held by
non-resident investor/s in accordance with the FDI policy with
some conditions. |
Download
Circular > |
The Foreign Contribution (Regulation) Act, 2010
introduced |
The Government of
India has brought into force The Foreign Contribution
(Regulation) Act, 2010 to consolidate the law regulating the
acceptance and utilization of foreign contributions in
India. |
Download
Notification > |
Approval for FDI in Limited Liability
Partnership firms |
The Cabinet
Committee on Economic Affairs has approved to amend the policy
on allowing Foreign Direct Investment (FDI) in Limited
Liability Partnership (LLP) firms subject to certain
conditions. |
Download
Press Release > |
 Article |
| Charter Documents of a Company |
Ms. Jayashri Murali, Advocate analyses the
provisions of section 26 and 27 of the Companies Act,
1956 in relation to incorporation of a Company. |
Download
Article > |
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