Hi Folks
It is all about perception. Whether you see a beautiful flower against a thorny fence or a thorny fence with a flower resting on it is all one’s perception. Whether we perceive our country to be dirty, large, corrupt, over-populated, loud, poor, unhealthy, or diverse, colourful, young, inclusive, challenging, warm, open-hearted is how we look at it. However, just see how celebrities across the world have viewed India :
Mark Twain, American author : “India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grandmother of tradition. Our most valuable and most instructive materials in the history of man are treasured up in India only.”
R.W. Emerson, American Author : “In the great books of India, an empire spoke to us, nothing small or unworthy, but large, serene, consistent, the voice of an old intelligence, which in another age and climate had pondered and thus disposed of the questions that exercise us.”
Hu Shih, former Ambassador of China to USA : “India conquered and dominated China culturally for 20 centuries without ever having to send a single soldier across her border.”
Dr Arnold Toynbee, British Historian : “It is already becoming clear that a chapter which had a Western beginning will have to have an Indian ending if it is not to end in the self-destruction of the human race. At this supremely dangerous moment in history, the only way of salvation for mankind is the Indian way.”
Let us be proud of ourselves and our country as we celebrate the 68th Independence Day. We had a glorious past. We have a promising future. Let us work towards turning perceptions into reality.
This 111th issue contains a brief article on conducting board meetings via video conferencing along with a few other regulatory updates. Should you wish to refer to any of our older issues, do visit our Resource Centre at sharadasc.com.Warm regards

‘Slum area development’ is now eligible as a CSR (Corporate Social Responsibility) spend. MCA has issued a notification including this activity under Schedule VII of CSR Rules.
MCA has clarified that Deemed Government Companies under the old Act will continue to be audited by Comptroller and Auditor General of India (C&AG), though the new Act does not contained specific provision in this regard.
After the great success of CLSS, 2010 and 2011, Ministry of Corporate Affairs (MCA) has again introduced Company Law Settlement Scheme, 2014. Under this scheme, companies can regularize their Annual Filings by paying only 25% of the Additional Fees for delayed filing.

CLSS, 2014 further provides an opportunity for defaulting inactive companies to:

  • Either get themselves declared as Dormant Company u/s 455 of the Companies Act, 2013 by filing e-Form MSC-1
  • Or apply for striking off the name of the Company by filing e-Form FTE

by paying only 25% of the fee payable on the said forms.

The scheme will be effective from 15th August, 2014 and will remain in force upto 15th October, 2014.

Trade Mark application fee increased from Rs. 3,500 to Rs. 4,000 per class of TM registration. Similarly fee for examination of the application on a fast track mode enhance from Rs. 12,500 to Rs. 20,000.

  Self – attestation permitted
Passport offices will accept of self-certified documents from applicants instead of attestation by Gazetted Officers. However, under this method original documents are required to be produced at the time of verification/ final processing.
  Registered Rent Agreement accepted
Rent agreement with a validity period of more than one year and duly registered under
section 17 of the Registration Act, 1908 will be valid proof of address for the purpose of Passport application.
CS Ratnamala Hegde gives a quick run down on the procedure for ‘Conducting Board Meeting through Video Conferencing (VC)’ under the Companies Act, 2013.
Note: The contents of this
Newsletter are only a summary and has not dealt with any issue in detail. Any action
taken or proposed to be taken must be in consultation with professionals and not
merely based on the articles / news updates. Lex Valorem disclaims all liability on action taken without professional advice.

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