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CORPORATE SOCIAL RESPONSIBILITY: - Series 499

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SHORT NOTE: CORPORATE SOCIAL RESPONSIBILITY : This Editorial is updated till 30 th August, 2019. Initially, the CSR provisions were codified and introduced by the Companies Act, 2013. CSR provisions as introduced imposed only a statutory obligation on the corporate to take social, environmental and economic initiatives for the society. The reporting of CSR in Directors Report being the only obligation. I.       Applicability to which CSR provisions applicable: Following below mention companies are required to constitute CSR Committee, If Company having following during the immediately preceding financial year. Net worth meaning As per Section 2(57), ‘NW’ = (Paid Up Share Capital + All Reserves Created Out of Profits + Securities Premium Account) – (Accumulated Losses + Deferred Expenditure and Miscellaneous Expenditure not Written Off). II.       CSR COMMITTEE Constitutions of CSR Committee: Company to which CSR is mandatory sh

WHETHER PRIVATE LIMITED COMPANIES NEED TO CONVERT THEIR SHARES INTO DEMAT? - Series 498

WHETHER PRIVATE LIMITED COMPANIES  NEED TO CONVERT THEIR SHARES INTO  DEMAT? MCA Vide Companies Amendment Act, 2019 dated 31 st July, 2019 has added Sub Section 1A after sub section 1 of Section 29 (Public Offer of Securities to be in Dematerialised Form). New Sub-Section 29(1A) In case of such class or classes of unlisted companies as may be prescribed , the securities shall be held or transferred only in dematerialized form in the manner laid down in the Depositories Act, 1996 and the regulations made thereunder . Old Sub-Section 29(1) Notwithstanding anything contained in any other provisions of this Act,— (a) Every company making  public offer;  and (b) Such other class or classes of  Companies   as may be prescribed (Rule 9 of the PAS Rules), shall issue the securities only in dematerialized form by complying with the provisions of the Depositories Act, 1996 (22 of 1996) and the regulations made thereunder. Rule 9 of the Companies (Prospec

LIST OF RESOLUTION REQUIRED TO BE FILE WITH ROC IN FORM MGT-14 - Series 497

LIST OF RESOLUTION REQUIRED TO BE FILE WITH ROC IN FORM MGT-14 LIST OF BOARD RESOLUTION REQUIRED TO BE FILE WITH ROC IN FORM MGT-14 BY COMPANY OTHER THEN “ PRIVATE LIMITED COMPANY ” ANNEX URE- A LIST OF BOARD RESOLUTION REQUIRED TO BE FILE WITH ROC IN FORM MGT-14 A.        To issue securities, including debentures, whether in or outside India. (In case of shares issue of security means issue of Letter of Offer). B.         To Borrow Monies. (Borrow Money from any sources including Director) C.         To invest the funds of the Company. (Also follow provisions of Section 186) D.        To grant loans or give guarantee or provide security in respect of loans.                             (Also follow provisions of Section 186) E.         To approve financial statement and the Board’s report. F.         To appoint inte