company law

The Ministry of Corporate Affairs has clarified that for rights issues opening up to 31st July, 2020, in case of listed companies, which comply with the aforementioned SEBI Circular dated 06th May, 2020, inability to dispatch the notice under section 62(1)(a)(i) of the Companies Act, 2013 to their shareholders through registered post or speed post or courier would not be viewed as violation of section 62(2) of the Companies Act, 2013. [Source: General Circular No.…

In view of the continuing restrictions on the movement of persons at several places in the country, it has been decided that the companies be allowed to conduct their AGM through video conferencing (VC) or other audio-visual means (OAVM) during the calendar year 2020, subject to the fulfillment of certain requirements. [Source: General Circular No. 20/2020 dated 5th May, 2020]

In continuation of the Ministry’s General Circular No.7/2020 dated 5th March, 2020 and after due examination, it has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19, will be 210 days from the date of deployment of this form on the website of the National Financial Reporting Authority (NFRA). [Source: General Circular No. 19/2020 dated 30th April, 2020]

The Ministry of Corporate Affairs has clarified that any person who has been appointed as an independent director in a company on the date of commencement of the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019, shall within a period of seven months instead of existing tine frame of five months from such commencement shall apply online to the institute for inclusion of his name in the data bank for a period of…

The Ministry of Corporate Affairs has clarified that if the companies whose financial year (other than first financial year) has ended on 31st December, 2019, hold their Annual General Meeting (AGM) for such financial year within a period of nine months from the closure of the financial year (i.e. by 30th September, 2020), the same shall not be viewed as a violation. The references to due date of AGM or the date by which the…