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If a person has been disqualified in any company due to section 167(1) such person shall be considered as ceased in all other companies wherever he was appointed as a Director.
At an AGM, the directors of the company present an Annual report containing information for the shareholders about the company's performance and strategy.
Nowhere in Section 73 or Rule 16, it has been mentioned about the Certificate of Auditor, but in many cases, ROC's ask for a certificate from the Statutory Auditor of the Company.
Private Limited Companies are allowed to accept Loans from Shareholders of a Company after following the process mentioned under Section 73 of the Companies Act, 2013.
It shall be the duty of the statutory auditor of the appointing company as well as the disqualifying company to report to the members of the company whether any director is disqualified from being appointed as a director.
There are several criticalities in the Annual Filing for the FY ended 31st March 2021. Discussing the same from the point of view of Financial statements via 20 FAQs.
MCA has introduced the Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021 that are applicable to FY 2020-21. CSR Spending has been made mandatory w.e.f FY 2020-21.
In Budget 2021, FM announced an Amendment in the LLP Act. In continuation of the same, MCA has issued a press release on 3rd February 2021. A new concept of Small LLP has been introduced.
The status of a company as a “Small Company” may change from year to year. Thus the benefits which are available during a particular year may stand withdrawn in the next year and become available again in the subsequent year.
MCA has introduced the Companies (Incorporation), Second Amendment Rules, 2021 on 1st February 2021. An amendment in the Process of Conversion of One Person Company to Private/Public Company has been made.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
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