Introduction Most of the private limited companies are closely held with the limited number of members, or sometimes having only family members as shareholders of the company and therefore the company prefers to issue share certificates in physical form. A share certificate is a legal document that certifies the legal ownership of a specific number of shares held in a company. What if this share certificate is lost or misplaced? Does the Companies Act, 2013 provide for the issue of duplicate share certificates?...

Background Section 12A of the Companies Act, 2013 requires every individual who holds a Director Identification Number (DIN) as on 31st March of a financial year is required to submit e-form DIR-3 KYC for that financial year to the Central Government on or before 30th September of the immediate financial year. In our previous article, we understood the provisions related to Form DIR-3 KYC and DIR-3 KYC-WEB. Here we will understand how to file eForm DIR-3 KYC and verification through DIR-3 KYC-WEB....

Introduction Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018 Dated 05.07.2018 inserted a new rule to Companies (Appointment and Qualification of Directors) Rules, 2014, Rule 12A - Directors KYC. The main purpose of having DIR-3 KYC provision is to ensure the data related to Directors available with the Government is up to date. There were many instances where the Government found that either the details furnished at the time of applying DIN were not true or the updated particulars of an individual acting as a Director is not available and hence it becomes difficult to the Government to enforce regulatory actions such persons in case of non-compliance or fraud....

Introduction Every person who is intending to become Director in a company incorporated in India is required to obtain a DIN number. The concept of DIN number was first incorporated by the insertion of Sections 266A to 266G of Companies (Amendment) Act, 2006. The provisions of the Companies Act, 2013 mandate obtaining of DIN before the appointment of an individual as a director of the company and also mandates indication of DIN in any return, documents or application filed with various authorities wherein there is a reference of the Director or information or particulars related to the director are required to be furnished....

Introduction The recent amendment to Section 204 read with Rule 9 of Companies (Appointment and Remunerations) Rules, 2014 has turned the focus of all private limited companies on the applicability of Secretarial Audit. The MCA vide Notification G.S.R. 13(E) dated 3rd January 2020 provided an amendment to the applicability rules of Secretarial Audit. The said amendment provided that “every company having outstanding loans or borrowings from banks or public financial institutions of one hundred crore rupees or more on the last date of the latest audited financial statement are required to comply with Secretarial Audit requirements”....

The MCA vide General Circular 20/2020 dated 5th May 2020 allowed companies to hold their Annual General Meetings for the calendar year 2020 through Video Conferencing (VC) / any other Audio Visual Mode (OAVM). The circular provides procedures, to be followed (i) by companies to which e-voting is mandatory (Part-A) and (ii) by companies to which e-voting is not mandatory (Part-B) for conducting AGM through VC/OAVM, Here we will understand the procedure to be followed by companies which are not required to provide the facility of e-voting under the Act, for conducting their AGM for the calendar year 2020....

A Limited Liability Partnership is an entity registered under the Limited Liability Partnership Act, 2008. With respect to compliance, the LLPs have minimum compliances as compared to limited companies. The filing of Form -11 and Form -8 annually are among the mandatory compliances which every Limited Liability Partnerships is required to comply with. In this article, we will understand what is Form-11, why and when it is required to file and how to file this form with MCA....

Introduction A company is a separate legal entity and acts through its agents i.e. the Board of Directors. The Companies Act and Articles of Association of the company empowers the board to exercise all such powers, except the powers exercisable only in general meeting and to do all such acts and things as the company is authorised to do so. The decisions related to company affairs are taken collectively by the Board in their meetings i....

Background: As per the provisions of Section 101 (1) of the Companies Act, 2013, every general meeting of a company may be called by giving not less than twenty-one days clear notice in writing or through electronic mode in such manner as provided under Rule 18 of Companies (Management and Administration) Rules 2014. In the case of private limited companies, the period of notice can either be twenty-one days or such other period as may be provided in their Articles of Association....

Introduction Every entity who has received Foreign Direct Investment and/or made Overseas Direct Investment in the previous reporting period(s) or current reporting period is required to file annually a return on its Foreign Liabilities and Assets (FLA) to Reserve Bank of India. The return is filed independently by the entity and shall be submitted by July 15, every year. The RBI has provided an e-portal for submission of FLA Return and entities are required to file their return only via RBI-FLAIR portal....