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The Ministry of Corporate Affairs (MCA) has issued General Circular No. 03/2025, clarifying that companies can continue to conduct their Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs) through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) until further notice. The Ministry has introduced relaxations since 2020, beginning with General Circular No. 20/2020 dated […]
Under Section 121 (1) of the Companies Act, 2013 every listed public company needs to furnish e-form MGT 15 (Filing Report on Annual General Meeting) within 30 days from the finish of the Annual General Meeting. Applicability of E-form MGT 15 Under MCA Beneath section 121(1) of the Companies Act 2013, read with rule 31(2) […]
Under the purview of the Companies Act 2013, the Annual General Meeting (AGM) holds significant importance in the governance and compliance structure of companies, especially for budding enterprises stepping into the realm of corporate operations. As per Section 96 and Secretarial Standards 2 issued under section 118(10) of the Companies Act 2013, every company other […]
The petitioner, Shree Ambica Auto Sales And Service and another party, purchased vehicles and received a benefit called input tax credit (ITC) based on official tax invoices from their supplier. Later on, the supplier provided credit notes to the petitioners as a way to give discounts after the sale, as part of a promotional sales […]
The Registrar of Companies (ROC), Delhi, has charged penalties on Panacea Life Sciences Limited and eight of its directors as they failed to reveal the change in designation of one director in the company’s annual return for FY 2022-23, specifying the lapse as a breach of Section 450 of the Companies Act, 2013. The company, […]
The Registrar of Companies (ROC) in Coimbatore has imposed a tax penalty of INR 1,02,000 on Ambika Cotton Mills Limited. Additionally, an aggregate liability of INR 78,000 has been levied on three of its Key Managerial Personnel (KMPs), with each person paying a penalty of INR 26,000. This action was taken under Section 454 of […]
The Ministry of Corporate Affairs has recently brought the much-needed relief by extending the dates for the 7 important e-forms with the removal of additional fees on the e-forms, including MGT7, MGT-7A, АОС-4, АОC-4 CFS, AOC-4 NBFC (Ind AS), AOC-4 CFS NBFC (Ind AS), and AOC-4 (XBRL), filing related to the FY 2024-25 under the […]
The Tripura High Court has recently clarified that a penalty paid under economic pressure cannot be considered a voluntary admission of liability. The Court further emphasised that tax authorities are still required to issue a final, well-reasoned order in accordance with the Tripura State GST Act, 2017. A recent ruling has emerged from the case […]
The updated move of the government for fast-track GST refunds has been welcomed by the healthcare and medical device industry of India. However, it asked that the next big step is to extend refund eligibility to input services as well as capital goods required to get full tax neutrality and facilitate liquidity challenges encountered by […]
