Day: November 3, 2015

Spitting on streets is an Offence in Mumbai

Spitting on streets in Mumbai could cost people dear, as the state cabinet on Tuesday approved an innovative anti-spitting law that combines monetary punishment with mandatory community service. The first time a citizen is caught spitting, he or she will have to shell out Rs 1,000 as fine and take a day out to do social work at a public hospital or a government office. Second-time offenders will have to pay Rs 3,000 plus three-day community service, and Repeat offenders Rs 5,000 plus five-day service, respectively. The amount collected in fines will be used only for healthcare...

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Close A Company

A company can be closed by adopting the following ways:- (A) Strike off a company under Section 560 Section 560, of the Companies Act, 1956, deals with strike off provisions of a defunct company. Any defunct company desirous to strike off its name from the register of Registrar of company can apply in Form FTE for strike off its name from the register maintained by ROC as per Guidelines for ‘FAST TRACK EXIT MODE’ issued vide General Circular No. 36/2011 dated 7.6.2011. Similarly, ROC has also power to strike off any defunct company after satisfying himself of the need to strike off a defunct company and has reasonable cause. But before passing any order in this regard, an opportunity of being heard must be provided to the defunct company by following the due procedure u/s 560. (B) Winding up Section 425, of Companies Act, 1956, deals with modes of winding up. The winding up of a company may be either – (a) By the Tribunal (also known as compulsory winding up) (b) Voluntary winding up (c) subject to the supervision of the Court Voluntary Winding up : You can get a general picture from the following steps of winding up which are summarized below (except Voluntary winding up) a) Issuing a written demand for debt payments to the target company. b) Present a winding up petition to the court...

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Version of Form 11 LLP is likely to be modified w.e.f 5th Nov 2015. Stakeholders are requested to plan accordingly. New Form AOC-4 CFS (Form for filing consolidated financial statements and other documents with the Registrar) would be available for filing w.e.f 1st Nov 2015. Versions of forms AOC-4 (XBRL) and AOC-4​ Attachment are modified w.e.f 1st Nov 2015. Stakeholders are requested to plan...

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