Asset Finance Company (AFC) : An AFC is a company which is a financial institution carrying on as its principal business the financing of physical assets supporting productive/economic activity, such as automobiles, tractors, lathe machines, generator sets, earth moving and material handling equipments, moving on own power and general purpose industrial machines. Principal business for […]
NCLT ORDERS TO PAY A COMPOUNDING FEE OF Rs 2,00,000 BY M/s MVM Metal and Alloys Pvt Ltd FOR FILING OF ILLEGIBLE ACCOUNTS WITH THE ROC
NCLT ORDERS TO PAY A COMPOUNDING FEE OF Rs 2,00,000 BY M/s MVM Metal and Alloys Pvt Ltd FOR FILING OF ILLEGIBLE ACCOUNTS WITH THE ROC Case: M/s MVM Metal and Alloys Pvt Ltd Company filed financial statements for 2011-12 which were not legible, NCLT compounded the offence on payment of fine of Rs. 50,000 […]
PRIVATE PLACEMENT COMPANIES ACT 2013 – CHECKLIST
PRIVATE PLACEMENT Checklist Section (1)(c) read with Sec-42 of Companies Act 2013 Check Provision in Article regarding Private Placement Call Board Meeting: To Prepare Offer Letter that is PAS-4 Make Proposal for Private Placement Prepare list of persons to whom option will be given Call EGM Call EGM: Pass SR– will be valid for 12 […]
APPOINTMENT OF COMPANY SECRETARY COMPANIES ACT 2013
COMPANY SECRETARY APPOINTMENT : FOLLOWING COMPANIES ARE REQUIRED TO APPOINT COMPANY SECRETARY IN FULL TIME EMPLOYMENT COMPULSORILY: 1. all listed companies( Rule 8 companies appointment & remuneration of Managerial Personnel Rules 2014) 2. every public company having paid up share capital of Rs. 10 Cr. or More(Rule 8) 3. every other company having paid up […]
SPECIMEN BOARD RESOLUTION LIASON OFFICE
Notice Directors report Format of balance sheet Format of profit and loss account Schedule attached to profit and loss account Incorporation document Change of registered office document Statutory registers of the company format RESOLUTION- BOARD INDEMINITY TO INCOME TAX DEPARTMENT FOR ISSUANCE OF INCOME TAX CLEARANCE CERTIFICATE FOR CLOUSURE OF LIASION OFFICE The Board shall […]
Companies Act 2013-Revision of financial statement or Board report
Revision of financial statement or Board report(Sec 130 & 131 Companies Act 2013) According to Section 130 and 131 of Companies Act 2013 accounts and Board report of the company can be reopened or revised with prior permission of Tribunal (NCLT) on following grounds: A. if the accounts are prepared in a Fraudulent manners or […]
CI AND E-Q&A
Corporate Insolvency and ETHICS – Q&A
Levy of Service Tax and VAT together
We will discuss the how , the service tax, service charges and VAT (Value Added Tax) is levied. Basis of Levy of Service Tax First let us understand that the each and every eating house or restaurant is not liable to collect service tax from its customers. It is only the restaurants/eating houses serving food […]
Service Tax
What is Service Tax? Service tax refers to tax collected by the government of India from certain service providers for providing certain services. The person who pays service tax can be either a service provider or a service receiver or any other person who is responsible for providing certain services. Service tax is a kind […]
Corporate Social Responsibility and Companies Act, 2013
The concept of Corporate Social Responsibility has been introduced by Companies Act, 2013. Section 135 of the Companies Act, 2013 deals with provisions related to Corporate Social Responsibility. Ministry of Corporate Affairs (MCA) has, vide its notification dated February 27, 2014 notify the provisions of Corporate Social Responsibility to be applicable w.e.f. April 01, 2014. […]