The document summarizes various news items from the fields of economics, corporate law, RBI/tax law, and market updates. It also provides an update on share certificate provisions under the new Companies Act of 2013. Specifically, it notes that under the new Act, share certificates must be issued within 2 months of allotment or receipt of transfer, whereas earlier Acts allowed longer periods. Failure to issue on time can attract penalties from Rs. 25,000 to Rs. 5 lakhs for companies and Rs. 10,000 to Rs. 1 lakh for officers.
10 key takeaways from companies amendment bill 2016Taxmann
Companies Amendment Bill, 2016 (the bill) was introduced in Lok Sabha on 16th March, 2016. Most of the amendments proposed in bill are broadly aimed at addressing difficulties in implementation of provisions of Companies Act, 2013.
service tax registration, service tax online, international tax consultantRajput consultancy
Start Company in India, CA in Delhi India, Business set up in India, New company registration, New company registration India, new company registration, company registration timeline, CA in Delhi, CA in India
Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013ijtsrd
The 2013 Act has introduced several new concepts and has also tried to streamline many of the requirements by introducing new definitions. This article covers some of these new concepts and definitions in brief. Dr. Prof. Jay Girishkumar Dave"Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-4 , June 2017, URL: http://www.ijtsrd.com/papers/ijtsrd2193.pdf http://www.ijtsrd.com/management/accounting-and-finance/2193/key-definitions-concepts-and-setting-up-of-a-company-under-companies-act-2013/dr-prof-jay-girishkumar-dave
10 key takeaways from companies amendment bill 2016Taxmann
Companies Amendment Bill, 2016 (the bill) was introduced in Lok Sabha on 16th March, 2016. Most of the amendments proposed in bill are broadly aimed at addressing difficulties in implementation of provisions of Companies Act, 2013.
service tax registration, service tax online, international tax consultantRajput consultancy
Start Company in India, CA in Delhi India, Business set up in India, New company registration, New company registration India, new company registration, company registration timeline, CA in Delhi, CA in India
Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013ijtsrd
The 2013 Act has introduced several new concepts and has also tried to streamline many of the requirements by introducing new definitions. This article covers some of these new concepts and definitions in brief. Dr. Prof. Jay Girishkumar Dave"Key Definitions, Concepts And Setting Up of A Company Under Companies Act 2013" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-4 , June 2017, URL: http://www.ijtsrd.com/papers/ijtsrd2193.pdf http://www.ijtsrd.com/management/accounting-and-finance/2193/key-definitions-concepts-and-setting-up-of-a-company-under-companies-act-2013/dr-prof-jay-girishkumar-dave
MCA
Insolvency and Bankruptcy Board of India issues Guidelines for Technical Standards for Core Services
IBBI has issued the guidelines which shall be known as Insolvency Professionals to act as Interim Resolution Professionals or Liquidators (Recommendation) Guidelines, 2017
Rajya Sabha passes Companies (Amendment) Bill, 2017 – amends the companies law to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve ease of doing business in the country, simplification of the private placement process
MCA introduces Condonation of Delay Scheme, 2018 in order to give an opportunity for non-compliant, defaulting companies to rectify the default
SEBI
SEBI mandate disclosure of PAN with holding of specified securities
Limit for investment by FPIs in Government Securities for Jan-March 2018
TAXATION
CBEC eases the norms for furnishing security / surety alongwith Bank Guarantee / bond by importers seeking to avail concessional duty benefit in terms of Customs (Import of Goods at Concessional Rate of Duty) Rules 2017
OTHERS
Sale (re-issue) of the Government of India Floating Rate Bonds and Stocks
An Online Facility offered for Covering of Indians Working Abroad Under EPFO
Amendment in Maternity Benefit Act for working women already on maternity leave entitled to enhance maternity leave on fulfilment of certain conditions
SEBI(LODR) Regulations, 2015- Obligations on listing of specified securities-...DVSResearchFoundatio
Key Takeaways:
- Meetings of shareholders and their voting
- Change in name of the listed entity
- Dissemination of information on website and in newspapers
This discusses the Chapter II of Companies Act 2013 regarding the Incorporation of Company and its comparison with the provisions of Companies Act 1956
The President of India has given its assent to the Companies (Amendment) Bill, 2019, which further amends the Companies Act, 2013 (the Act). The Companies (Amendment) Bill, 2019 has been now published in the Official Gazette on 31 July 2019 as the Companies (Amendment) Act, 2019 (the
Amendment Act).
The Amendment Act has taken into consideration the amendments that were originally notified in the Companies (Amendment) Ordinance, 2018 which was promulgated by the President on 2 November 2018, and then retained in effect through the Companies (Amendment) Ordinance Act, 2019 and the Companies (Amendment) Second Ordinance, 2019 promulgated by the President on 12 January 2019 and 21 February 2019, respectively.
RBI
Issue of ` 100 banknotes with the inset letter ‘R’
SEBI
SEBI Issues Integrated Reporting by Listed Entities
SEBI Issues consultation paper for Consolidation and re-issuance of debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008
OTHERS
India and Austria Sign a Protocol amending the India-Austria Double Taxation Avoidance
Company Website-
www.acquisory.com
SEBI
1. Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2016
2. Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2016
TAXATION
1. CBDT revises format of Issue of Income Tax Notices U/s. 143(2)
2. Clarification regarding TDS on Interest paid by IFSC Banking Units
3. CBDT directs officials to not to disclose info received under IDS,2016
4. Delhi Value Added Tax (Amendment) Act, 2016
MCA
Insolvency and Bankruptcy Board of India issues Guidelines for Technical Standards for Core Services
IBBI has issued the guidelines which shall be known as Insolvency Professionals to act as Interim Resolution Professionals or Liquidators (Recommendation) Guidelines, 2017
Rajya Sabha passes Companies (Amendment) Bill, 2017 – amends the companies law to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve ease of doing business in the country, simplification of the private placement process
MCA introduces Condonation of Delay Scheme, 2018 in order to give an opportunity for non-compliant, defaulting companies to rectify the default
SEBI
SEBI mandate disclosure of PAN with holding of specified securities
Limit for investment by FPIs in Government Securities for Jan-March 2018
TAXATION
CBEC eases the norms for furnishing security / surety alongwith Bank Guarantee / bond by importers seeking to avail concessional duty benefit in terms of Customs (Import of Goods at Concessional Rate of Duty) Rules 2017
OTHERS
Sale (re-issue) of the Government of India Floating Rate Bonds and Stocks
An Online Facility offered for Covering of Indians Working Abroad Under EPFO
Amendment in Maternity Benefit Act for working women already on maternity leave entitled to enhance maternity leave on fulfilment of certain conditions
SEBI(LODR) Regulations, 2015- Obligations on listing of specified securities-...DVSResearchFoundatio
Key Takeaways:
- Meetings of shareholders and their voting
- Change in name of the listed entity
- Dissemination of information on website and in newspapers
This discusses the Chapter II of Companies Act 2013 regarding the Incorporation of Company and its comparison with the provisions of Companies Act 1956
The President of India has given its assent to the Companies (Amendment) Bill, 2019, which further amends the Companies Act, 2013 (the Act). The Companies (Amendment) Bill, 2019 has been now published in the Official Gazette on 31 July 2019 as the Companies (Amendment) Act, 2019 (the
Amendment Act).
The Amendment Act has taken into consideration the amendments that were originally notified in the Companies (Amendment) Ordinance, 2018 which was promulgated by the President on 2 November 2018, and then retained in effect through the Companies (Amendment) Ordinance Act, 2019 and the Companies (Amendment) Second Ordinance, 2019 promulgated by the President on 12 January 2019 and 21 February 2019, respectively.
RBI
Issue of ` 100 banknotes with the inset letter ‘R’
SEBI
SEBI Issues Integrated Reporting by Listed Entities
SEBI Issues consultation paper for Consolidation and re-issuance of debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008
OTHERS
India and Austria Sign a Protocol amending the India-Austria Double Taxation Avoidance
Company Website-
www.acquisory.com
SEBI
1. Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2016
2. Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2016
TAXATION
1. CBDT revises format of Issue of Income Tax Notices U/s. 143(2)
2. Clarification regarding TDS on Interest paid by IFSC Banking Units
3. CBDT directs officials to not to disclose info received under IDS,2016
4. Delhi Value Added Tax (Amendment) Act, 2016
My books- Hacking Digital Learning Strategies http://hackingdls.com & Learning to Go https://gum.co/learn2go
Resources at http://shellyterrell.com/emoji
Artificial intelligence (AI) is everywhere, promising self-driving cars, medical breakthroughs, and new ways of working. But how do you separate hype from reality? How can your company apply AI to solve real business problems?
Here’s what AI learnings your business should keep in mind for 2017.
Study: The Future of VR, AR and Self-Driving CarsLinkedIn
We asked LinkedIn members worldwide about their levels of interest in the latest wave of technology: whether they’re using wearables, and whether they intend to buy self-driving cars and VR headsets as they become available. We asked them too about their attitudes to technology and to the growing role of Artificial Intelligence (AI) in the devices that they use. The answers were fascinating – and in many cases, surprising.
This SlideShare explores the full results of this study, including detailed market-by-market breakdowns of intention levels for each technology – and how attitudes change with age, location and seniority level. If you’re marketing a tech brand – or planning to use VR and wearables to reach a professional audience – then these are insights you won’t want to miss.
COMPANIES ACT, 2013 - CORPORATE GOVERNANCE IN NEW DIRECTIONSNeha Sharma
The Government of India has already notified 98 sections of the new Companies Act and has also announced draft rules in 1st phase as well as in 2nd phase on most of the chapters of Companies Act, 2013. It may be an interesting debate to examine certain issues having wider implications.
The Delhi high court, in a leading judgement delivered on 3rd June, 2016, has declared service tax audit being conducted by Central Excise and Service tax department as ultra virus, in the matter of Mega Cabs Vs UOI. The matter was argued by Mr. J.K. Mittal, FCA as advocate of the petitioner.
The general public and the society including top bureaucrats, politicians, media personnel, social activists, thinkers, intellectuals and policy makers and those who determine the future directions of the society and the economy expect the auditing profession to perform the roles of a watchdog who can monitor the auditee entity comprehensively to ensure that interest of owners, minority shareholders, investors, bankers, government, regulators, suppliers, customers and other stake holders are fully protected. Most importantly interest of the auditee entity are preserved and various financial and operational decisions taken by the management at various levels were in the interest of the company and were within the policy framework laid down by the Board.
Disclosures in Board Report by Trupti Ranjan Mohanty.pptxssuser1b54031
Insights into Disclosures in Board Report: This includes all the broad disclosures required to be given in the Board Report of a Company under Companies Act, 2013 and SEBI Listing Regulations. Various cases/litigations have been referred to indicate the significance of each disclosure.
The Chartered Accountants community of Auditors is being exposed to new challenges and expectations while they are finalizing audits for the Financial Year ending March 31, 2015. The new provisions will ensure that all the serious and committed professional Chartered Accountants gain substantially as the value of the Audit Report and its credibility will be much higher in the light of new responsibilities and Corporate Governance Mechanism.
Indian economy towards growth momentum strategic moves neededNeha Sharma
In a recent international survey Indian economy has been rated as the 3rd largest economy of the world, after USA and China, on the basis of Purchase Power Parity (PPP). IMF has also projected a smart recovery of growth rate of Indian GDP to around 5.5% to 6% in next 2 years.
Indian economy towards growth momentum strategic moves neededNeha Sharma
In a recent international survey Indian economy has been rated as the 3rd largest economy of the world, after USA and China, on the basis of Purchase Power Parity (PPP). IMF has also projected a smart recovery of growth rate of Indian GDP to around 5.5% to 6% in next 2 years.
The general election to Lok Sabha is the most important democratic process in the Indian Constitutional Framework. Current elections have attracted a huge turnout of the voters, clearly indicating to the political leadership that India need change and Indian democracy, economy and expectations of public and society is under transformation.
Amendment to the Companies Act, 2013 seems to be the Government’s regular activity. The Act has been improved by the Companies Amendment Act, 2015, 2017, 2019, and now, as suggested, in 2020. The purpose of the amendment is different eachalso time, varying from the comfort of doing business to corporate life.
Big Announcements for MSME- U.K.Sinha Committee ReportCA PRADEEP GOYAL
While making on announcements for measures to boost Indian Economy yesterday, Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman said we are going to implement recommendations on Micro, Small & medium Enterprises by U.K.Sinha Committee in their report dated 25th June 2019 submitted to RBI.
Attached is my presentation on highlights of above said recommendations and if implemented strictly, nothing can stop India’s MSME sector flourishing like anything.
Have a look please.
Bombay High Court clarifies CCI’s determina�on of
jurisdic�on
Supreme Court admits United Breweries’ appeal;
stays recovery of penalty
Apex Court refuses to stay remedies imposed on
Google
NCLAT par�ally upholds CCI’s order against Google
Penalty on Geep Industries reduced by NCLAT
INVESTMENT BY A FVCI REGISTERED UNDER SEBI; TRAI SHOW CAUSE NOTICE TO AIRTEL, VODAFONE AND IDEA; RBI POLICIES ON FOREIGN INVESTMENT IN “OTHER FINANCIAL SERVICES; SEBI MANDATES FREEZING OF PROMOTERS’ DEMAT ACCOUNTS ON NON-COMPLIANCE WITH CERTAIN PROVISIONS OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015; RBI POLICIES ON REVIEWS OF SECTORAL CAPS; MCA TO ESTABLISH A STEERING COMMITTEE TO CONDUCT ITS OWN NATIONAL CORPORATE SOCIAL RESPONSIBILITY AWARD
Newsletter on daily professional updates- 05/02/2020CA PRADEEP GOYAL
Sharing knowledge is the most fundamental act of friendship.
Because it is a way you can give something without loosing something.
Here is your Daily dose of professional updates 05.02.2020
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Buy Verified PayPal Account | Buy Google 5 Star Reviews
PGC Newsletter 15th, april 2014
1. PGC NEWSLETTER15th, April 2014 1
PGC
NEWSLETTER
15th, April 2014
THOUGHT OF THE DAY
“Watch your thoughts; they become
words”
ECONOMICS NEWS
India‘s free trade agreement (FTA) on services with the 10- member
Association of Southeast Asian Nations (Asean) is still in limbo, as three
members — Thailand, Indonesia and the Philippines —are yet to ratify the
deal.
Mahindra ShubhLabh Services Ltd, as Subsidiary of automobile giant
Mahindra & Mahindra and part of the $ 16.7 billion Mahindra Group, has
signed a joint venture agreement with the $ 4 billion Belgium- based
Univeg.
CORPORATE LAW UPDATES
Companies tapping equity capital markets continue to get their issues
graded by rating agencies, despite SEBI relaxation in this regard.
The Competition Commission of India recently imposed a penalty of Rs.1
Crore on Google, for non- cooperation with the CCI‘s ongoing
investigation against the internet giant. The CCI in an order imposing the
penalty noted that Google, without any reasonable cause, had failed on
several occasions to comply with requests for information by the office of
the director general (the CCI‘s investigative arm).
RBI / TAX LAW UPDATE
RBI: The Reserve Bank of India (RBI) should not compromise on its ‗ fit
and proper‘ criterion while offering new banking licences to promote
financial inclusion, said former RBI governor Bimal Jalan. The RBI has, in
principle, approved banking licences to two — Bandhan and IDFC — of
the 25 applicants.
IT: No Penalty for non-furnishing of Docs under Sec-92D, unless Notice
Specifies the info sought.(Income-tax Officer, 8(2)(3) V. Netsoft India Ltd.)
IT : Extraordinary events like merger and demerger have an effect on
profitability of company in financial year in which such event takes place,
and a company which is undergoing said events cannot be considered as
comparable.
MARKET UPDATES
SENSEX
22,504.58 -124.38
CNX NIFTY
6,740.35 -35.95
DOLLAR/ RUPEE
60.28 0.1
MCX SILVER
42909.00 -0.74
MCX GOLD
28,777.0 -182.0
MCX CRUDE OIL
6241.00 -0.65
Dow Jones Industrial
Average
16,173.24 146.49
Nasdaq Composite
4022.69 22.96
2. PGC NEWSLETTER15th, April 2014 2
COMPANIES ACT, 2013
Share certificates
The provision regarding the time limit for issue of share certificates to members consequent to new/ fresh
allotment of shares or transfer/ transmission of securities are to be found in section 56 of the Companies
Act, 2013 which has got a heading ―Transfer & Transmission of Securities‖ instead of at section 46 which
has the heading ―Certificate of Shares‖
According to Section 56(4) share certificates have to be issued to members within
(a) 2 months from the date of incorporation, in case of subscribers to the memorandum; (previously there
was no such time limit under Companies Act 1956);
(b) 2 months from the date of allotment of shares in case of any other allotment (previously it was 3
months u/2 113 of Companies Act 1956);
(c) 1 month from the date of receipt of transfer of securities or date of intimation of securities – (here the
word used is securities rather than shares, so it includes both shares as well as debentures, previously it
was 2 months time limit under Companies Act 1956);
(d) 6 months from the date of allotment of debentures (previously the time limit was 3 months under
Companies Act 1956)
Under proviso to section 113(1) of the Companies Act, 1956 companies could apply for an extension of
time limit for issue of certificates upon allotment/ transfer of debentures by a further period of 9 months.
Now under the Companies Act, 2013, that proviso has been removed, so the above limits under section
56(4) (a) to (d) are absolute and if the company is unable to issue certificates within that period then
penalty process is attracted under section 56(6) which is minimum Rs.25,000/- for the company but may
extend to Rs.5.00 lakhs and minimum Rs.10,000/- for every officer which could extend upto Rs.1.00 lakh
per officer.
www.proglobalcorp.wordpress.com