Corporate

Keeping in view the aim of facilitating and promoting ease of doing business, MCA vide its notification dated August 13, 2021, notified the Limited Liability Partnership (Amendment) Act, 2021. Key amendments introduced in the LLP Act are as follows: (a) Small limited liability partnership: A concept...

Keeping in view the current situation caused by the second wave of COVID-19, the Ministry of Corporate Affairs (MCA) had granted certain relaxations to companies. These relaxations have been further extended for the benefit of all stakeholders: (a) Companies can conduct general meetings through vide...

The Department of Promotion of Industry and Internal Trade (DPIIT) has reviewed Foreign Direct Investment (FDI) Policy in relation to downward investment by Non-Resident Indian (NRI). In Press Note No. 1 (2021 series) (“PN 1”), the DPIIT has proposed to make certain additions to the FDI Policy t...

The Ministry of Corporate Affairs (MCA) has introduced significant changes1 in the process for conversion of one person company (OPC) into private or public company (a) The definition of One Person Company under Rule 3 has been amended to replace the requirement of a natural person to be resident of...

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In a significant move to boost transparency and effectiveness, the Ministry of Corporate Affairs (MCA) has introduced major changes to the corporate social responsibility (“CSR”) regime in India through notifications dated January 22, 2021. Section 135 of the Companies Act, 2013 (“Act”) has ...

The COVID-19 pandemic halted the resolution process for small businesses classified under the MSME sector due to the suspension of the Insolvency and Bankruptcy Code (“IBC”) in March 2020. The Government of India has amended the IBC to introduce Pre-Packaged Insolvency Resolution Process1 (“PP...

The Companies (Amendment) Act, 2020 received assent from the President on September 28, 2020 and the proposed amendments mainly consist of provisions for decriminalisation of offences under the Companies Act, 2013. Certain provisions of the Companies (Amendment) Act, 2020 have come into force with e...

In an attempt to provide relaxation to the various stakeholders in view of the COVID-19 outbreak and to promote ease of doing business, the Ministry of Corporate Affairs (MCA) has granted an extension of 3 (three) months to companies for holding their annual general meetings (AGM) for the financial ...