The Companies Act, 2013 mandates the filing of a declaration in Form No INC-20A with additional details regarding Bank statements and Registered address when a newly registered company wants to commence its business and operations in the desired manner. Requisite complying with the provisions is mandatory to exercise its borrowing powers. Several pieces of information…

In this 21st century dynamism, the social responsibility of business is a developing sector in which it is gaining international fame and India is no different. However, it is not a new concept in India but has developed over time and is now being amended with the passing of the Companies Act 2013 so that…

The Annual General Meeting (AGM) is held to facilitate cooperation between the management and the shareholders of the company. It is compulsory under the Companies Act, 2013 to hold an annual general meeting (AGM) to discuss the annual results, the appointment of an auditor, and other discussions. The Company must follow the procedures under the…

Are you running a company registered under LLP? A new LLP Amendment Act has been introduced in 2021. Further, you should know how it can effect your business. The Act has been in effect since 1st April, 2022. In this article we will discuss, Section wise Impact of LLP (Amendment) Act, 2021. Table of Content…

All the companies (whether it is Private Companies, Public Companies, or Limited Liability Partnerships) that have received Foreign Direct Investment or made any foreign investment, have a compulsion to file FLA (Foreign Liabilities and Assets) returns. Foreign. FLA is an annual return. In this blog, we will talk about the Foreign Liabilities and Assets (FLA) Return. Table of…

Are you planning to start your own company? There are things that you need to file regularly to the government. What are these mandatory filings? How do you ensure that your business is run according to the guidelines of the government? How can you protect your business from audits? In this article, we will discuss…

Companies must file annual reports, quarterly reports, management discussion and analysis, and other filings with authorities and investors. Most businesses prepare these financial reports manually, which means they suffer challenges common to manual processes, such as a high chance of error, extended cycle times, and, most significantly, a lack of a reporting standard. With the…

PF stands for Provident Fund. Similarly, ESI stands for Employees’ State Insurance. The government made these to ensure that the workers are financially secured while they are working and after their retirement. If you are running your own business, you should register for PF/ESI. These schemes help you secure the futures of your employees. In…

The Ministry of Corporate Affairs via notice on January 22, 2021 inserted an explanation under Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014. This notification states that all companies, except the government company, are under an obligation to submit form DPT-3 on a yearly basis for transactions that are not deems deposits, i.e. exempted deposits. …

The Annual General Meeting (AGM) is a crucial governance process for an organization’s members. It can provide transparency, provide updates, and allow members to vote on a variety of topics. The Companies Act of 2013 contains provisions for the compounding of annual general meetings (AGMs). A meeting is defined as “a gathering of people for…

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