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Posted Date : 18-May-2011 , 09:02:01 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has issued clarification on loan to Public Limited Companies under Section 295 of the Companies Act. A circular issued by the Ministry in this regard says that it has come to the notice of the Ministry that some Companies are making applications for getting prior ap...
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Posted Date : 12-May-2011 , 09:29:29 pm | Posted By CASANSAAR
Union Minister for Corporate Affairs Shri Murli Deora has desired that concerted action to be taken to expedite the process of liquidation of companies which is currently taking inordinately long. In the conference of Official Liquidators organised by the Ministry recently to discuss ways for expedi...
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Posted Date : 08-May-2011 , 10:57:07 am | Posted By CASANSAAR
The new company law will make it mandatory for companies to disclose details of social sector initiatives, called CSR, in addition to money spent, to shareholders in their annual reports.Not just how much, but companies will also have to disclose to their shareholders where they have spent the...
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Posted Date : 05-May-2011 , 08:47:52 pm | Posted By CASANSAAR
A gift of immovable property made by a Muslim is valid even if it is not registered under the Transfer of Property Act or the Stamps and Registration Act, the Supreme Court today ruled.The apex court said though the TP Act mandates registration of a gift, the same would not apply to a Muslim d...
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Posted Date : 01-May-2011 , 11:23:03 am | Posted By CASANSAAR
In its bid to promote environment friendly practices, the government has allowed the companies to cut their paper costs by sending annual reports and balance sheets to shareholders on e-mail.In the letter circulated to the Registrar of Companies and Regional Directors, the Corporate Affairs Mi...
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Posted Date : 24-Apr-2011 , 08:36:59 am | Posted By CASANSAAR
The Delhi High Court has held that a company is not required to pay the stamp duty on the increased amount of its authorised share capital.A bench headed by Justice S Muralidhar said this while allowing the plea of S E Investments Ltd, which challenged the direction of the Registrar of Companies (RO...
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Posted Date : 21-Apr-2011 , 11:03:24 am | Posted By CASANSAAR
The new Companies Bill that seeks to replace a 50-year-old Act, will come up for consideration and passage in the Monsoon session of Parliament."The Companies Bill will come in for discussion in Parliament in the Monsoon Session," Corporate Affairs Minister Murli Deora told reporters on the si...
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Posted Date : 12-Apr-2011 , 09:29:05 am | Posted By CASANSAAR
Bank of America has given shares worth nearly Rs 11 lakh to Mukesh Ambani as part of annual retainer fee to the billionaire industrialist, who joined the US banking giant's board last month. Ambani may get a total of over Rs 1 crore of annual compensation in cash and stocks, going by the bank's d...
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Posted Date : 02-Apr-2011 , 08:25:26 am | Posted By CASANSAAR
Directors in companies who have found themselves on the wrong side of the law for violations by their officers may now breathe easy. The ministry of corporate affairs has issued a directive to all its Regional Directors, cautioning them against taking action on company directors unless it is conc...
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Posted Date : 26-Mar-2011 , 10:24:21 pm | Posted By CASANSAAR
Wipro Chairman Azim Premji on Thursday came out strongly against the idea of formulating laws on mandatory spending by industry on corporate social responsibility . "I don't think you generate CSR by putting statutory requirements. I think there is enough social consciousness ...
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Posted Date : 22-Mar-2011 , 12:15:47 pm | Posted By CASANSAAR
Union Heavy Industries Minister Praful Patel today batted in favour of making CSR (corporate social responsibility) spends mandatory for private companies , saying it is necessary for the upliftment of people. “I think the corporate sector cannot avoid the respo...
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Posted Date : 15-Mar-2011 , 11:31:16 am | Posted By CASANSAAR
Ministry has reviewed the processes involved in delivery of important services to stakeholders, with a view to identify and improve the components causing delay in disposal of applications. Payment confirmation is found to be a major bottleneck in delivery of services in respect of off...
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Posted Date : 14-Mar-2011 , 09:36:28 pm | Posted By CASANSAAR
The Ministry has got the issue examined by Business Process Re-engineering Group under MCA-21 and in order to speed up and simplify the process of incorporation of Companies and establishment of principal place of business in India by Foreign Companies for reduction in time taken by Registrar of Com...
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Posted Date : 14-Mar-2011 , 09:35:01 pm | Posted By CASANSAAR
The Ministry has got the issue examined by Business Process Re-engineering Group under MCA-21 and in order to speed up and simplify the process of incorporation of Companies and establishment of principal place of business in India by Foreign Companies for reduction in time taken by Registrar of Com...
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Posted Date : 14-Mar-2011 , 09:32:48 pm | Posted By CASANSAAR
The government today said it would come out with the guidelines on independent directors to improve the quality of representation on the boards of the state-run companies. Heavy Industries and Public Sector Enterprises Minister Praful Patel said the quality of independent directors ...
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Posted Date : 14-Mar-2011 , 09:32:17 pm | Posted By CASANSAAR
All companies will have to reserve at least one seat in a board of directors for women candidates if the board comprises five or more independent directors. The government would make the presence of women directors in a board mandatory by including a provision in the propo...
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Posted Date : 14-Mar-2011 , 09:26:41 pm | Posted By CASANSAAR
Ministry’s has re-examined the process of allotment of Directors Identification Number (DIN) to be obtained u/s 266B of the Companies Act, 1956. The present process is cumbersome and time consuming. Representations have been received in the Ministry that the documents required to be submitted ...
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Posted Date : 14-Mar-2011 , 08:49:42 am | Posted By CASANSAAR
In continuation to this Ministry’s earlier circular no. 6/2010 dated 03.12.2010 on the subject cited above, it has been decided to extend the Scheme for another three months i.e. upto 30th April, 2011. 2. All the terms of circular no. 6/2010 dated 03.12.2010 will remain the same....
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Posted Date : 14-Mar-2011 , 08:37:59 am | Posted By CASANSAAR
Chief executives of private firms will be able to join PSU boards as independent directors if the proposal of the Department of Public Enterprises is accepted by the Department of Personnel and Training. At present, only retired CEOs of the private sector are allowed as independent dire...
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