MCA extended the time for filing e-forms AOC-4 and AOC-4 (XBRL non-IndAS) and the corresponding AOC-4 CFS e-forms for FY 2016-17 upto 28.11.2017 without levying additional fee. MCA had issued a Circular dated 27th October, 2017 extending the last date for filing Form AOC-4, Form AOC-4 (XBRL Non-IndAS) and Form AOC-4 CFS for FY 2016…

Relaxation of additional fees for filing AOC-4 (XBRL) till 31st March, 2018 Ministry of Corporate Affairs (MCA) on 26th October, 2017 by issuing a Circular has extended last date for filing Form AOC-4 (XBRL) for FY 2016-17 till 31st March, 2018 for those companies whose accounts are prepared as per Indian AS. MCA has stated in the …

CBDT says Routine administrative functions carried out from a regional headquarters will not lead to a PoEM in India since such functions do not constitute a case where the board of directors stands aside. Central Board of Director Taxes (CBDT) has issued a circular   dated 23rd October, 2017 clarifying with respect to guidelines fo…

Special Resolution for approval for accepting deposits from members and public pursuant to Section 73 and Section 76 of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Section 73 and 76 of the Companies Act, 2013 (the Act) read with the Companies (Acceptance of Deposits) Rules, 2014 (the Rules) and other applicabl…

Special Resolution for altering article of association of a company by deletion of an article pursuant to Section 14 of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Section 14 and all other applicable provisions of the Companies Act, 2013, read with Companies (Incorporation) Rules, 2014 (including any statutory…

Board Resolution for approval of pre-incorporation expenses and contracts incurred/entered into by Promoters "RESOLVED THAT the preliminary expenses for ________ incurred by the promoters of the company for the purpose of its incorporation as per the statement placed before the meeting be and are hereby approved. RESOLVED FURT…

Special Resolution to approve keeping registers or other statutory documents at a place other than registered office of the Company “ RESOLVED THAT pursuant to provisions of Section 94(1) of the Companies Act, 2013 (“the Act”) and all other applicable provisions of the Act and relevant Rules applicable, if any, consent of the membe…

Ordinary Resolution to approve consolidation of shares under Section 61(1)(b) of Companies Act, 2013 “ RESOLVED THAT pursuant to Section 61(1)(b) and other applicable provisions, if any, of the Companies Act, 2013, and Article of Articles of Association of the company, all the _________ (________) equity shares of 5 (Rupees five) ea…

Special Resolution to incorporate entrenchment provisions in Article of Association of a Company “ RESOLVED THAT pursuant to provisions of Section 5(4) and all other applicable provisions of the Companies Act, 2013 read with Companies (Incorporation) Rules, 2014 (including any statutory modification(s) or re-enactment thereof, for …

Ordinary Resolution to authorise Board of Directors to contribute to bona fide and charitable funds “ RESOLVED THAT  pursuant to the provisions of Section 181 of the Companies Act, 2013 and other provisions, if any, of the Companies Act, 2013 or rules made there-under, the consent of the members of the Company be and is hereby accor…

Based on recommendation of GST Council at its meeting held on 06th October, 2017 , Ministry of Finance has issued various notifications to make such recommendation effective. 1. Extension of due date for filing Form GSTR-4 ( Notification No 41/2017 - GSR 1255(E) - CGST): By this notification, the Govt. has extended the due date til…

SEBI specified strict action against companies which are not complying with Minimum Public Shareholding norms Security Exchange Board of India (SEBI) issued a Circular dated 10th October, 2017 with respect to non-compliance with Minimum Public Shareholding (MPS) requirements. Listing Regulations mandates a listed entity to comply…

Outcome of GST Council Meeting held on 06th October, 2017 GST Council meeting was held on 06th October, 2017 to discuss various matters. Following are the outcome of this meeting. Limit for turnover in compensation scheme raised from Rs 75 Lakh to Rs 1 Crore 1% tax applicable on traders under composition scheme 2% tax will be appl…

Uniformity and Categorization of Mutual Fund Schemes Security Exchange Board of India, SEBI , has issued a Circular dated 06th October, 2017 , on categorisation and rationalisation of Mutual Fund Schemes. In order to bring the desired uniformity in practice across Mutual funds, to standardise the scheme categories which will help In…

Form SH-4  is an instrument of transfer which is useful when a person wants to transfer its Physical Shares held in a Company to another person. This form is prescribed pursuant to Section 56 of Companies Act, 2013 read with Rule  Rule 11  of Companies (Share Capital & Debentures) Rules 2014. Click here to prepare Form SH-4 onli…

Central Board of Excise and Customs (CBEC) has issued a notification dated 04th October, 2017 specifying the conditions and safeguards for furnishing a Letter of Undertaking (LOU) in place of bond by registered person who intends to supply goods or services for export without payment of IGST . Conditions are are as follows: 1. Tho…

Board Resolution for applying PAN and TAN of Company “ RESOLVED THAT Mr. ___________ , a Director of the Company, be and is hereby authorized severally to deal with various Governmental and other authorities in connection with the obtaining of Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN) on beha…

Board Resolution for preparing and maintaining Statutory Registers and authorising directors / officers to authenticate entries in it “ RESOLVED THAT pursuant to all the applicable provisions of the Companies Act, 2013 and rules framed thereunder (including any statutory modification or re-enactment thereof), the consent of the Boa…

Board Resolution for authorising directors or other officers to sign documents, agreements etc. on behalf of Company “ RESOLVED THAT pursuant to the provisions of Section 21 of Companies Act, 2013 read with applicable rules framed thereunder (including any statutory modification or re-enactment thereof), any one of the Directors of …

Board Resolution to authorise Directors to sign and submit e-Forms with ROC “ RESOLVED THAT pursuant to the provisions of Companies Act, 2013 read with applicable rules framed thereunder (including any statutory modification or re-enactment thereof), any of the Directors of the Company be and is hereby authorized severally to a.  di…

Board Resolution to take note of subscribers to Memorandum of Association of new Company at first Board meeting “ RESOLVED THAT a copy of list of Subscribers as filed as a part of Memorandum and Articles of Association of the Company with the Registrar of Companies, Mumbai be and is hereby noted and adopted

Board Resolution to decide keeping and maintaining the minutes of various meetings of a Company at the First Board Meeting “ RESOLVED THAT the minutes of the proceedings of all the meetings of the Board of Directors, Committee of Directors and all General/Class Meetings of the Company be kept with  _____________, a Director of the …

Board Resolution to decide and approve Financial Year of the Company at the First Board meeting" " RESOLVED THAT the First Financial Year of the Company be for the period beginning from ________, 20__,  the date of incorporation of the Company and ending on March 31, 20___ and that the accounts of subsequent financial ye…

Board Resolution for adoption of Common Seal of the Company at the first board meeting “ RESOLVED THAT the Seal, of which an impression is affixed in the margin of these minutes, be and is hereby adopted as the Common Seal of the Company and that the same be kept in safe custody with _____________ , a  Director of the Company”.

Board Resolution to take note of general disclosure of interest received from Directors at the First  Board Meeting pursuant to Section 184 of Companies Act, 2013 “RESOLVED THAT  pursuant to provisions of Section 184 and any other applicable provisions, if any, of the Companies Act, 2013 and its rules there under, the general notice…

Board Resolution for taking note of situation of Registered office of new Company in First Board Meeting “ RESOLVED THAT the Registered Office of the Company, situated at ____________________________ the information of which submitted with the Registrar of Companies, ________ by filing e-Form INC-22 / e-Form INC-32 at the time of i…

Board Resolution for taking note of Memorandum and Article of Association of new Company in First Board Meeting “ RESOLVED THAT a copy of Memorandum and Articles of Association of the Company as placed before the table (duly initialed by the Chairman for the purpose of identification) of the Meeting as filed with the Registrar of Co…

Board Resolution for taking note of Certificate of Incorporation of newly incorporated Company in its First Board Meeting " RESOLVED THAT the Certificate of Incorporation dated ___________, 20__ issued by the Registrar of Companies, ___________ be and is hereby perused and noted by the Board.

Special Resolution for approval of private placement of equity shares pursuant to Section 42 and 62(1)(c) of Companies Act, 2013 “ RESOLVED THAT pursuant to: (i) the provisions of Sections 42 and 62(1)(c), and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Share Capital and Debentures) Rules…

Ordinary Resolution for regularisation of an Additional Director pursuant to Section 161 of Companies Act, 2013 For Private Companies “ RESOLVED THAT  pursuant to the provisions of Section 161 of the Companies Act, 2013 and Rules framed thereunder (including any statutory modification(s) or re-enactments thereof for the time being i…

Special Resolution for approving and ratifying the related party transactions pursuant to Section 188 of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Section 188 and all other applicable provisions, if any, of the Companies Act, 2013 and the Companies (Meetings of Board and its Powers) Rules, 2014 and other appl…

Special Resolution for authorising the Board of Directors to sale Company's plant pursuant to Section 180(1)(a) of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Section 180(1)(a) read with the Rules framed thereunder and other applicable provisions, if any, of the Companies Act, 2013 and the Rules made thereu…

Ordinary Resolution for payment of remuneration to Non-executive Directors pursuant to Section 197 of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Section 149(9),197 and all other applicable provisions, if any, of the Companies Act, 2013 (including any statutory modifications(s) or reenactment thereof for the t…

Special Resolution authorising Board of Directors to make donation to bona fide charitable and other funds pursuant to Section 181 of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Section 181 and other applicable provisions, if any, of the Companies Act, 2013 (including any statutory modifications or reenactment …

Special Resolution for private placement of Cumulative Redeemable Preference Shares pursuant to Section 42, 55 and 62 of Companies Act, 2013 “ RESOLVED THAT  pursuant to the provisions of Sections 42, 55, 62 and such other applicable provisions, if any, of the Companies Act, 2013 (“Act”) read with the Rules framed there under, as am…

Special Resolution for private placement for Non-convertible Debentures pursuant to Section 42 and 71 of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Sections 42, 71 and other applicable provisions, if any, of the Companies Act, 2013 (including any statutory modifications or re-enactments thereof, for the time …

Ordinary Resolution for appointment of Director pursuant to Section 152 of Companies Act, 2013 In case of Private Companies “ RESOLVED THAT,  pursuant to Section 152 of Companies Act, 2013,  Mr. ________  (Director Identification Number _________), who is eligible for appointment as a Director, be and is hereby appointed a Director …

Ordinary Resolution for removal of a Director by Members pursuant to Section 169 of Companies Act, 2013 “ RESOLVED THAT pursuant to the provisions of Section 169 and other applicable provisions of the Companies Act, 2013, and the Rules framed thereunder, Mr. _______ (Director Identification Number ___________) be and is hereby remov…

Special Resolution for approving borrowing limits of Board of Directors pursuant to Section 180(1)(c) of Companies Act, 2013 “ RESOLVED THAT in supersession of the earlier resolution passed by the members of the Company at their meeting held on ___________ and pursuant to the provisions of Section 180 (1)(c) and all other applicabl…