Dictionary of Indian Corporate Laws

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Ms. Shreya Raut, Top Contributor

She a qualified Company Secretary and a Commerce and Law graduate from Mumbai University. She has graciously agreed to share her knowledge with us. She is currently associated with the Multinational Professional Services Firm. She is graceful dancer. Apart from dance she loves writing, singing, socialising, meeting new people and interacting with them.




Mr. Raghav Sharma, Top Contributor

He is a Company Secretary and have a Bachelors degree in Commerce from University of Delhi. Currently, he is associated with a well known and one of the biggest, listed steel manufacturing group in India. He is also a member of world's largest collegiate honor society ie. Golden Key International Honor Society. 




Mr. Rigved Goregaonkar, Top Contributor


He is a qualified Company Secretary and a commerce graduate from Mumbai University. He is currently pursuing LL.B. from ILS Law College, Pune. He is an avid writer. He has interest and knowledge of fund structuring, private equity and venture capital investments, securities laws, foreign policy on inbound and outbound investments in e-commerce and various other sectors.​




Mr. Rushi J. Sathe, Top Contributor


He is a practicing Company Secretary and a commerce graduate from Gujarat University. He has a has a vast expertise and experience in dealing with matters related to Company Law, Securities Laws, Legal Due Diligence, Documentations, SARFAESI, and Mergers and Acquisitions along with Solutions to various financial issues. RJSC also provides liaising services at various Government Offices like Ministry of Corporate Affairs (ROC), Registrar of Firms (RoF), Office of Controller General of Patents, Designs & Trade Marks, Etc.

 









​The Insolvency and Bankruptcy Board of India has notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2016. The regulations provide the process from initiation of voluntary liquidation of a corporate person (Companies, LLP and any other persons incorporated with limited liability) till its dissolution. The regulations specify the manner and content of public announcement, receipt and verification of claims of stakeholders, reports and registers to be maintained, preserved and submitted by the liquidator, realisation of assets and dissolution of residual assets, and finally dissolution of corporate person. The Regulations shall come into force from 1st April, 2017.

 

The Ministry of Corporate Affairs has amended the Companies (Meeting of Board and its Powers) Rules, 2014. These rules may be called the Companies (Meeting of Board and its Powers) Amendment Rules, 2017. The Ministry has amended the provisions of Rule 15 (Contract or Arrangement with a Related Party) and replaced the words “exceeding ten percent” with the words “amounting to ten percent or more” for Rule 15(3) (a) item (i) to item (iv). They shall come into force on the date of their publication in the Official Gazette.




​The government has simplified the salary reporting requirements of companies 

The new rules have also done away with the requirement of return of appointment (MR- 1) of chief executive officers, company secretaries and chief financial officers within 60 days of the appointment with the registrar. 


The companies will now be able to retain the same auditors till their 2017 annual general meeting (AGM). 




Central Government constitutes the National Company Law Appellate Tribunal for hearing appeals against the orders of the National Company Law Tribunal with effect from the 1st day of June, 2016. 



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