Amritorupa Kanjilal (Manager-Secretarial) (90 Points)
10 July 2010where can i find the archives of circulars issued by MCA??? mca site has circulars only since 2001, but i need a 1989 circular. pls help!!!
also, can anybody give me the text of circular no 3 of 1989, related to schedule xiii???
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 10 July 2010
Here is the circular https://www.taxmann.com/corporatelaws/CompanyLaws.aspx?page=CompLaw&TabId=tab_CLCI
but i dont hv id to login there.
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 10 July 2010
Sections, 310, 311 : Departmental Clarification: Departmental Clarification [Circular No.3 of 1989, dated 13-4-1989 (1989) 65 Com Cases 558 (St.)] regarding the amendments made by the companies (Amendment) Act, 1988 may be noted:--
Section 310/311:
Approval of the Central Government will not be required in cases where the increase in remuneration is in accordance with the terms and conditions specified in Part II read with Part III of Schedule XIII. However, no return is required to be filed with the concerned Registrar of Companies and no further resolution in respect of paragraph 1 of Part III will be required to be passed if the proposed increase is already covered b an earlier resolution of the share holders. Similarly, resolution regarding 10% cut will also not be required, if covered by an earlier resolution. [This liberal interpretation may not be strictly correct legal view as the two prerequisites for the purposes of section 310 or section 311 are:--
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