Month: May 2019

Registered Valuers under Companies Act 2013 & Insolvency and Bankruptcy Code 2016

With effect from 1st February 2019 all valuations required under Companies Act 2013 & Insolvency and Bankruptcy Code 2016 to be done by “REGISTERED VALUERS” registered with Insolvency and Bankruptcy Board of India (IBBI). Registered Valuer applicability under Companies Act 2013 S.N Section Particulars 1 62(1)C Valuation report for further issue of shares 2 192(2) Valuation of assets involved in arrangement of non-cash transactions involving directors 3 230(2)(c)(v) Valuation of shares, property and assets of the company under a scheme of corporate debt restructuring 4 230(3) Valuation report along with notice of creditors/shareholders meeting –under scheme of compromise/arrangement 5 232(2)(d) The report...

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MSME 01 – Due on 29th May’2019

With a spate of corporate irregularities coming to the fore, the Centre has decided to make disclosure norms more stringent. Specified Companies (Furnishing of information about the payment to micro and small enterprise suppliers) Every specified company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers (whose payment is due or not paid within 46 days) dealing with MSME shall mandatorily file a return with MCA in e-form MSME- One Time Return (MSME FORM I) 22nd Jan 2019 – 31st March 2019 – Due Date 29th May 2019  Half Yearly Return & Due Date (MSME FORM II) For Half year period ‘April to...

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GNL-2 filed between 01/04/2014 to 20/10/2014

Stakeholders who were unable to file e-form ACTIVE as they had filed ADT-1 forms for appointment of auditors for the period from 2014-15 to 2018-19 as an attachment with GNL-2 e-form during the period from 01/04/2014 to 20/10/2014 (due to non-availability of e-form ADT-1 during that period), it has now been decided to permit re-filing of ADT-1 to such companies for the said period (up to 2018-19), with ‘fee relaxation’ (normal fee and additional fee). Stakeholders, in such cases, may download the latest ADT-1 e-form available on the portal and refile details of the Auditor’s appointment for the said...

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Our Views Regaring E-form MSME-01

Hello everyone, Trust all of you doing amazing in life and enjoying our corporate updates. Today we would like to share our viewpoints regarding MSME-1. Hope you will share this writeup with your near and dear ones:- e-Form MSME-1 has to be filed twice (Due Date – May 30, 2019). 1st MSME-1 for amounts outstanding as on 22.1.2019. This is a one time return. 2nd MSME-1 for amounts outstanding as on 31.3.2019. This is a half yearly return. Just like DPT-3, MSME-1 is also NOT REQUIRED to be filed where there is NIL reporting/ outstanding. Form MSME-1 is required...

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NCLT (Second Amendment) Rules, 2019 – Class Suits

MCA has vide NCLT (Second Amendment) Rules, 2019 prescribed the eligibility norms for filing class action Suit under Section 245 of the Companies Act, 2013. As per amended rules, the following persons shall be eligible for filing the class action suit: At least 5% of the total number of members or 100 members, whichever is less; or Member(s) holding not less than 5% of issued share capital, in case of unlisted Company; Member(s) holding not less than 2% of issued share capital, in case of Listed Company; or At least 5% of the total number of deposit holders or...

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May 2019
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