CAclubindia Articles

Whether a company can give loan to director or whole time director?

CS Divesh Goyal 31 July 2021 at 09:38

It is clear that Companies can give a loan to their Managing Director/ WTD without any restriction under Section 185. However, as per Section 186, it is not mandatory to charge interest on such a loan.

Difference between Right issue | Private Placement | Preferential Allotment

CS Divesh Goyal 31 July 2021 at 09:38

Rights issue is an invitation to existing shareholders to purchase additional new shares. Private placement is the sale of stock shares to pre-selected investors. Preferential allotment involves bulk allotment of fresh issue of shares at a pre-determined price.

Surprise Extensions under the Income Tax Act

CA Satish Badve 30 July 2021 at 13:25

Most of the extensions are granted 3 days, 2 days,1 day before the scheduled date. There are more surprises sometimes when extensions come before 8 hours, 5 hours, 2 hours on the last date.

IBC- Hefty Monetary Penalties to be imposed by an IP Agency

CS Lalit Rajput 30 July 2021 at 13:00

In order to ensure that insolvency professionals remain compliant with the letter and spirit of IBC, IBBI has issued a circular on 'Monetary Penalties to be imposed by an Insolvency Professional Agency'.

Process of Extension of AGM (Annual General Meeting)

CS Divesh Goyal 30 July 2021 at 11:27

Every company other than an OPC shall in each year, hold in addition to any other meetings, a general meeting as its annual general meeting within a period of six months, from the date of closing of the FY.

Holding of the AGM through Video Conferencing

CS Divesh Goyal 30 July 2021 at 11:27

To facilitate, the companies and businesses in India, MCA has allowed them to hold their Annual General Meeting by Video Conferencing or other audiovisual means amidst the COVID-19 crisis.

PAS-6: Reconciliation of Share Capital - Audit Report

CS Divesh Goyal 30 July 2021 at 09:51

Every unlisted public company shall submit Form PAS-6 to the Registrar with such fee as provided in Companies (Registration Offices and Fees) Rules, 2014 within 60 days from the conclusion of each half-year.

How to Remove Disqualification of Director?

CS Divesh Goyal 30 July 2021 at 09:51

As per the Companies Act, 2013, once a director is disqualified u/s 164(2) the director so disqualified shall continue to be disqualified for a period of 5 years.

What to do when confused between two firms for Articleship?

CA Sapna Ghelani 30 July 2021 at 09:47

This phase of 3 years will decide what the CA student will be in future. So, it is important to choose the right firm for Articleship. Sometimes, students make a wrong choice while choosing an articleship firm and regret it later.

Which Countries Are Using Cryptocurrency the Most?

Neethi V. Kannanth 30 July 2021 at 09:47

Statista conducted a global consumer survey and it revealed that people from Africa, Asia and South America are more likely to own or use cryptocurrencies than those in Europe, North America or Australia.