April 2014

What will happen to share application money & unsecured loan outstanding as on 31.3.2014

By / / Company Law

Companies Act 2014 has placed numerous challenges before the Companies & Professionals. The most hitting part is settlement of outstanding share application money & unsecured loans on the last day of financial year 2013-14.  New Sections, affecting these two important aspects of business were notified from 1st April, 2014, putting most of the Companies in …

What will happen to share application money & unsecured loan outstanding as on 31.3.2014 Read More »

Declaration & Disclosure to be made by Director under CA 2013

By / / Company Law / 6 Comments

It was a routine practice followed by the Companies to take declaration from a Director under section 274 (1) (g) of the CA 1956 as on last day of the financial year and Disclosure of Interest from a Director under Section 299 (1) before beginning of  the next financial year in a form 24AA. Because of commencement …

Declaration & Disclosure to be made by Director under CA 2013 Read More »

Independent Director Appointment – Transitional period of 1 year

By / / Company Law / 4 Comments

New Companies Act 2013 is effective from 1st April, 2014. Section 149 of the Act provides for appointment of Directors on the Board of the Company. Sub Section 4 requires every Listed & other classified Companies to appoint Independent Directors of specified numbers on the Board. Sub Section 3 requires every Company hall have at …

Independent Director Appointment – Transitional period of 1 year Read More »

Applicability of Companies Act 2013 to the FY 2013-14

By / / Company Law / 2 Comments

Ministry vide its circular no 8/2014 dated 4.4.2014 clarified that provision of the Companies Act 1956 will continue to apply to financial year which has commenced prior to 1.4.2014 in respect of maintenance  of books of accounts, preparation, adoption, filing of financial statements, Boards Reports  & attachments  to such statements and reports. in view of …

Applicability of Companies Act 2013 to the FY 2013-14 Read More »