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Year: 2018
DIN RESTORATION
09 Oct, 18

NCLT AND DIN RESTORATION: STEP BY STEP GUIDE

NCLT AND DIN RESTORATION In its earnest drive towards taming ‘Corruption’ the Govt. took a very stern action on errant Companies and as a result in 2017 alone 2.2 lakh companies were struck off and 3.1 lakh Directors were barred for 5 years as their DINs were deactivated. PROVISIONS FOR RESTORATION/REVIVAL: There were certain provisions […]
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COMPANIES GOT STRUCK OFF
08 Oct, 18

HOW COMPANIES GOT STRUCK OFF ?

HOW COMPANIES GOT STRUCK OFF ? SERIES OF EVENTS: 1#: The striking off of unexpectedly high number of companies in 2017 was seen as an initiative of ‘Operation Clean Money’ launched by the govt. on 31.01.2017 against black money. 2#: The ROCs started issuing notices to companies from April, 2017. These Notices were put up […]
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Things That Lead to Removal of Director
19 Sep, 18

What Leads to the Removal of Director?

What Leads to the Removal of Director? Introduction: All of us know that the part of the Directors in any Company and Board is aggregately associated with the everyday undertakings of the Company. Through isolation and designation in accordance with the stature of the Company, the arrangement, the rules in the Articles, the directors in-certainty […]
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Amnesty Scheme - Effect on Strike Off Companies & Disqualified Directors
14 Aug, 18

Proposed Amnesty Scheme by the Government – Effect on Strike Off Companies & Disqualified Directors

UNDERSTANDING THE BACKDROP OF AMNESTY SCHEME FOR DISQUALIFIED DIRECTORS: After demonetization a huge number of companies were struck-off in 2017. This was a move to regulate this sector. Some of the companies were fraudulent, others lacked compliance and transparency. The newly implemented Companies Act,2013 roped in all private companies & this resulted in a major […]
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MCA Keeps an Eye on Disqualifying Directors
24 Jul, 18

NBFCs – Mergers and Demergers

NBFCs – Mergers and Demergers A Non-Banking Financial Company (NBFC) is a company which is registered under the Companies Act, 1956 /2013. An NBFC is engaged in the business of loans and advances, investment share, assets financing, debenture or other marketable securities, leasing, hire-purchase and insurance business. NBFCs provide working capital loan and credit facilities […]
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Directors Disqualification - Section 164 & 167
20 Jul, 18

Director Disqualification & Non-Compliance! Understanding Section 164(2) & 167(1)

Defining ‘STRIKE-OFF’: Strike-off means removal of a registered company, by the Registrar of Companies, from the register or roll. Defining ‘Non-Compliance’: Non-compliance means not complying/obeying the set of rules and laws prescribed under the Companies Act. Defining ‘Disqualification’ of Directors: The ‘Disqualification’ of Director means his Director Identification Number(DIN) is deactivated by the Authority. Reasons […]
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