After the last draft notification on the proposed exemptions to private companies in June 2014, two days ago, the Union Cabinet, approved the introduction of the Companies (Amendment) Bill, 2014 in Parliament to make certain amendments in the Companies Act, 2013. The Companies Act, 2013 was notified in two phases where a total of 280... Continue Reading →

After our last blog on Corporate Social Responsibility (almost a year ago), the Government has notified Section 135 of the Companies Act, 2013 and amended certain portions of Section 135 and Schedule VII at the time of notification of these provisions. In this post, we seek to highlight certain key changes to the law pertaining... Continue Reading →

Companies advancing loans or providing securities for loans taken by Directors has always been a very complex subject. This is particularly so for private companies which are most often run by promoter directors. Some private companies are closely held family concerns where the family members are directors and it is quite common for the companies... Continue Reading →

The Companies Act, 2013 seeks to create a major overhaul in the functioning of the corporates in India. The Act subjects private companies to a greater control and compliances and withdraws many of the exemptions available to private companies under the Companies Act, 1956. One such area is compliances relating to issue or offer of... Continue Reading →

Yesterday, the government has placed a draft notification for comments on the MCA Website relating to exemptions granted to private companies. Private companies are closely held business entities that are not permitted to invite the public to subscribe to their shares or accept deposits from the public. Private companies are defined under the Companies Act,... Continue Reading →

This write up provides an overview of some of the important changes with respect to meetings of board and its powers as applicable to private companies or other unlisted public companies. The Companies Act, 2013, has made sweeping changes which will affect the day-to-day functioning of private companies and other unlisted public companies. Some of the most important... Continue Reading →