The notification amends the principal notification G.S.R. 466(E) dated 5th June 2015 regarding exceptions, modifications and adaptations to certain provisions of the Companies Act 2013 for companies covered under Section 8 of the said Act.
The key amendments are:
1) Substitution of serial number 8 and related entries in the Table.
2) Insertion of new serial number 19A and related entries in the Table regarding exception to sub-section 7 of section 186.
3) Insertion of a new paragraph 2A to specify that the exceptions in the Table will apply to companies under Section 8 that have not defaulted on filing financial statements or annual returns.
Companies (Removal of Difficulties) Order, 2015 has been released by MCA
Posted Date : 17-Feb-2015 , 08:06:23
Notification Detail :
Companies (Removal of Difficulties) Order, 2015 has been released by MCA dated February 13, 2015 - The impact is as Small Company - 'A small company is now defined as a company (other than public company) whose paid up capital is upto Rs 50 lakhs AND turnover upto Rs 2 crores. Earlier it was OR.
Subject: Notice regarding the Central platform & New tariff plan instructed by BTRC.
Dear All,
We all have been instructed by BTRC to migrate to the live platform. The scheduled migration list of aggregators is starting (7th May 2023, 9.00 PM) today.
Today BTRC has 15 aggregators, including MiMSMS who are supposed to get migrated to the live platform.
As documented in the letter, aggregators will cater live traffic through the central platform, and on the migration date, the bilateral traffic path (between aggregators and MNOs) will be shut down.
Please also note that you will face some issues today while we and the operators starting the testing & migration today.
We are deeply grateful for your understanding and to be with us!
Feel free to contact us for any further queries from your end and inform us as well. Thank you very much for taking Bulk SMS Service from MiM SMS.
Regards
MiM Digital Marketing Solution Ltd.
Amends Companies (Appointment and Qualification of Directors) Rules to provid...GAURAV KR SHARMA
Amends Companies (Appointment and Qualification of Directors) Rules to provide that JV, WOS and dormant unlisted public companies need not have independent directors
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptxOmGod1
Victims of crime have a range of rights designed to ensure their protection, support, and participation in the justice system. These rights include the right to be treated with dignity and respect, the right to be informed about the progress of their case, and the right to be heard during legal proceedings. Victims are entitled to protection from intimidation and harm, access to support services such as counseling and medical care, and the right to restitution from the offender. Additionally, many jurisdictions provide victims with the right to participate in parole hearings and the right to privacy to protect their personal information from public disclosure. These rights aim to acknowledge the impact of crime on victims and to provide them with the necessary resources and involvement in the judicial process.
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
Introducing New Government Regulation on Toll Road.pdfAHRP Law Firm
For nearly two decades, Government Regulation Number 15 of 2005 on Toll Roads ("GR No. 15/2005") has served as the cornerstone of toll road legislation. However, with the emergence of various new developments and legal requirements, the Government has enacted Government Regulation Number 23 of 2024 on Toll Roads to replace GR No. 15/2005. This new regulation introduces several provisions impacting toll business entities and toll road users. Find out more out insights about this topic in our Legal Brief publication.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
ASHWINI KUMAR UPADHYAY v/s Union of India.pptxshweeta209
transfer of the P.I.L filed by lawyer Ashwini Kumar Upadhyay in Delhi High Court to Supreme Court.
on the issue of UNIFORM MARRIAGE AGE of men and women.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
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3. lTo BE PUBL|SHED tN THE GAZETTE OF tNDrA, EXTRA-ORD|NARY, PART il,
sEcTroN 3, suB-SECT|ON (i)l
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
Notification
New Delhi, dated the t-ii'iune, ZOlZ
G.S.R. (E). - In exercise of the powers conferred by clauses (a) and (b) of suo-
section (1) of section 462 and in pursuance of sub-section (2) of section 462 read with
section B of the companies Act, 2013 (18 of 2013) (hereinafter referred to as the said
Act), the central Government, in the interest of public, hereby amends the notification of
the Government of India, in the Ministry of corporate Aftairs, vide number G.s.R.
466(E) dated the Srh June,2015 published in the Gazette of India, Extraordinary, part-
ll, section 3, sub-section (i), dated the 5th June 201s (hereinafter referred to as the
principal notification), namely:-
2. In the principal notification, in the Table, for serial number 8 and the entries
relating thereto, the following serial number and the entries relating thereto shall be
substituted, namely:-
3. In the principal notification, in the Table, after serial No. 19, the following serial
number and the entries relating thereto shall be inserted, namely:-
Sub-section (7)
of section 186.
In sub-section (7), the following proviso shall be inserted,
namery:-
Provided that nothing contained in this sub-section shall
apply to a company in which twenty-six per cent. or more of
the paid-up share capital is held by the Central Government
or one or more State Governments or both, in respect of
loans provided by such company for funding Industrial
t2)
(1) (2) (3)
"8 Clause (b) and
first proviso to
sub-section (1)
of section 149.
Shall not apply."
'19A.
4. Research and Development projects in furtherance
objects as stated in its memorandum of association.".
4. In the principal notificaiion, after paragraph 2, the following paragraph shall be
inserted, namely:-
"2A. The exceptions, modifications and adaptations provided in column (3) of the
aforesaid Table shall be applicable to a company covered under section B of the said
Act which has not commiited a default in filing its financial statements under section 137
or annual return under section 92 of the said Act with the Reqistrar.".
tr.
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1i{lld"-i,,1
lnmardeep $nffi;j1",
Joint Secretary to the Government of India
Note: - 1. A copy of this notification has been laid in draft before both Houses of
Parf iament as required by sub-section (2) of section 462 of the said Act.
2. The principal notification was published in the Gazette of India, Extraordinary, part ll,
section 3, sub-section (i) vlde number G.S.R.466(E) dated the 5rh June, 2015.