Post by: Dinesh Pandiyan in Compliance
DPT-3 Penalty - Consequences of Not Filing DPT-3 The penalty for not filing DPT 3 within the due date is Rs 5,000, and in case of continuing default, the company and its officers in default will be charged Rs 500…
Post by: Dinesh Pandiyan in Compliance
LEAP-1 Form: Purpose and How to File? On January 24, 2024, MCA launched the LEAP-1 form per the Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024. The purpose of the LEAP-1 Form is to simplify and standardize the…
Post by: Dinesh Pandiyan in Compliance
Internal Audit Applicability Under Companies Act, 2013 Internal audit applicability is a critical concept for companies in India, impacting various aspects of their operations. The Companies Act 2013 outlines the rules and regulations determining which companies must have an internal audit function. This ensures strong internal…
Post by: Renu Suresh in Compliance
MCA Imposes ₹40 Lakh Penalty for Non-Filing MGT-7 AND AOC-4 Ensure compliance with regulatory filings is paramount for companies operating in India to maintain transparency and avoid penalties. Submitting AOC-4 and MGT-7 forms to the Ministry of Corporate Affairs (MCA)…
Post by: Renu Suresh in Compliance
MCA Imposes ₹3.50 Lakh Penalty for AOC-4 Non-Compliance Once a company is incorporated, the Directors are responsible for ensuring that the company files various regulatory and statutory filings on time. Failure to submit the annual financial statements through AOC-4 can…
Post by: Renu Suresh in Compliance
Key Changes to India's CSR Policy for Companies Corporate Social Responsibility (CSR) is a mandatory requirement in India for companies that meet certain financial thresholds. The Companies (Corporate Social Responsibility Policy) Rules, 2014 outlines the foundational framework for CSR. On…
Post by: Renu Suresh in Compliance
The Jurisdiction and Functions of the National Company Law Tribunal The National Company Law Tribunal (NCLT) plays a pivotal role in the Indian corporate landscape, serving as a specialized quasi-judicial body entrusted with adjudicating a broad spectrum of matters related…
Post by: Renu Suresh in Compliance
Beneficial Interest in Company Section 89 of Companies Act, 2013 The Companies Act of 2013 provides a framework for legal and beneficial activities by companies, subject to approval and guidelines. Section 89 is a critical provision that allows individuals and…
Post by: Renu Suresh in Compliance
Financial Statements - AOC 4 Filing Financial Statements are a comprehensive record, capturing a company's financial activities and current financial standing. These statements not only furnish critical data to stakeholders but also equip the company's Board with insights into the…
Post by: Renu Suresh in Compliance
Step-by-Step Guide to Removal of Director from a Company The directors of a company bear the responsibility for managing its day-to-day operations, while the shareholders, who are the rightful owners, delegate this role to the directors as their representatives. The…
