Monthly Archives: January, 2015

COMPANIES CAN COLLABORATE WITH EACH OTHER FOR CSR

As per recent notification issued by Ministry of Corporate Affairs now a company can establish a registered trust or a registered society or a company under section 8 of the Act either singly or alongwith its holding or subsidiary or associate company, or alongwith any other company or holding or subsidiary or associate company of such other company to undertake CSR activities

Earlier Companies were allowed to do CSR activities by establish a registered trust or a registered society or a company under section 8 either itself or through holding or subsidiary or associate company.

To view the notification visit the following link:
http://mca.gov.in/Ministry/pdf/Amendment_Rules_2015_20012015.pdf

KASHIF ALI
268, Business India Complex,
Uday Park, New Delhi-110049
Call us : +91 9718483209

Advertisements

AMENDMENT IN COMPANIES (ACCOUNTS) RULES 2014

  1. E-form AOC-5

As per section 128 of the Companies Act 2013, Company can change place where Books of accounts are being maintained by passing a Board Resolution and intimating Registrar of Companies within 7 Days. However no form was prescribed. MCA has amended amendment in Companies (Accounts) Rules 2014 by inserting rule 2A after rule ;

‘2A. Notice of address at which books of account are to be maintained.- For the purpose of the first proviso to sub-section (l) of section 128, the notice regarding address at which books of account may be kept shall be in Form AOC-5 ”

  1. No Need To Consolidate Financial Statement By Company Having Subsidiary Or Subsidiaries Incorporated Outside India.

MCA has provided relief to Companies having subsidiary(s) outside India by inserting following proviso after third proviso or Rule 6;

“Provided also that nothing in this rule shall apply in respect of consolidation of financial statement by a company having subsidiary or subsidiaries incorporated outside India only for the financial year commencing on or after 1″ April, 2014.”

To view the notification visit the following link:

http://mca.gov.in/Ministry/pdf/Amendment_Rules_2015_19012015.pdf

KASHIF ALI
268, Business India Complex,
Uday Park, New Delhi-110049
Call us : +91 9718483209

NOW A FOREIGN DIRECTOR CAN AUTHORIZE PRACTICING CA/CS/CWA OR ANY OTHER INDIAN DIRECTOR TO FILE DIR-11 ON HIS BEHALF

As per MCA notification dated 19th January 2015, a foreign director in an Indian Company resigning from his office may authorize in writing a practicing chartered accountant or cost accountant in practice or company secretary in practice or any other resident director of the Company to sign Form DIR-11, and file the same on his behalf intimating the reasons for the resignation.

 

The text of amendment is as below;

In the Companies (Appointment and Qualification of Directors) Rules’ 2014′ in rule 16′ the following proviso shall be inserted, namely:-

“Provided that in case a company has already filed Form DIR-12 with the Registrar under rule 15, a foreign director of such company resigning from his office may authorize in writing a practicing chartered accountant or cost accountant in practice or company secretary in practice or any other resident director of the Company to sign Form DIR-11, and file the same on his behalf intimating the reasons for the resignation.

To view the notification visit the following link:

http://mca.gov.in/Ministry/pdf/Amendment_Rules_2015_20012015_1.pdf

KASHIF ALI
268, Business India Complex,
Uday Park, New Delhi-110049
Call us : +91 9718483209