Anand Nimesh & Associates

31/12/2024

🌟 Vacancy for 4 CS Trainees at “Anand Nimesh & Associates”! 🌟

Anand Nimesh & Associates, a peer reviewed CS Firm located in the heart of Lajpat Nagar, New Delhi, is currently looking for 4 enthusiastic CS trainees to join our secretarial team.

Key Responsibilities: As a CS trainee with us, you will have the opportunity to immerse yourself in a wide array of company secretarial tasks, including but not limited to:
• Routine Company Secretarial Matters,
• Formation of business entities e.g. Companies and LLPs
• Secretarial audits
• NBFC & RBI compliance
• FDI assignments
• Listing compliances
• Insolvency and Bankruptcy matters,
• And much more

How to Apply: If you are passionate about embarking on a journey of professional growth and wish to be part of a dynamic team, we invite you to send your CV to [email protected].

07/07/2017

Reverse Charges under GST by : CS Anand Raghuwanshi.

CONCEPT In General parlance, Supplier/Seller (Who provide services or who sell the goods etc.) is required to pay taxes because this is who earn profits.

18/05/2017

Read my write up on preparation for CS Exams.
CS परीक्षा की तैयारी के लिए उपयोगी Tips

Tips for CS Exams.

Read valuable Study Tips for CS Exams - by CS Anand Raghuwanshi.

http://lawgyaan.in/tips-cs-exams/

प्यारे छात्रों, जून नजदीक है, इसका मतलब है की परीक्षाएं सर पर हैं, मुझे पता है की ये समय CS जीवन के सबसे महत्वपूर्ण और संघर्षों से भरे होते हैं, आप …

20/04/2017

Compliance Checklist for Listed Companies under SEBI Listing Regulations 2015 (LODR)

http://lawgyaan.in/compliance-checklist-listed-companies-under-sebi-listing-regulations-2015-lodr/

Compliance Checklist for Listed Companies under SEBI Listing Regulations 2015 (LODR)

18/04/2017

Find and Read a DRAFT REPLY to ROC notice u/s 248 of Companies Act 2013.

http://lawgyaan.in/draft-reply-stk-1-notice-section-248-companies-act-2013/

Date: 22/03/2017 To, The Registrar of Companies, NCT of Delhi and Haryana Ref: Your letter No. ROC-G/U/S248(1)/ dated 10.03.2017 Subject: Representation in reply of Form No. STK 1 (Notice by …

14/04/2017

E-Book:
"Guide to Independent Directors" written by Mr. Naresh Kumar Sinha.

The Companies Act 2013 imposes a specific obligation on listed companies to have at least one third of the total number of directors as independent directors and, also empowers Central Government to include other class/classes of companies within the scope of this requirement.

This e-Book provides a detailed knowledge on the Concept of Independent Directors under Companies Act 2013

Read on following link:

http://lawgyaan.in/guide-independent-directors-cs-naresh-sinha/

09/03/2017

http://lawgyaan.in/funding-options-carry-business-india/

Various forms of financing or funding options are available to carry out a business in India: Equity Capital: Additional capital can be raised by any of the following modes subject to regulatory conditions: Right Issue. Partly Paid equity shares/warrants. Against import of capital goods and pre-inco...

21/04/2014

COMPANY INCORPORATION AS PER NEW COMPANIES ACT2013......!!!

✔ Obtain Digital Signature Certificate (DSC) Obtain a Digital Signature Certificate from authorized DSC issuing authority.

✔. Obtain Director Identification No. (DIN) [Sec.153] Make Application in Form DIR-3 [Rule 9 of Chapter XI Rules].

✔. Register DSC in the name of Director on MCA portal

✔. Apply for Reservation of Name [Sec.4(4)] Apply in Form No. INC.1 [Rule 9]. The same shall be reserved for a period of 60 days.

✔. Adoption of Memorandum of Association [Sec.4(6)] MoA shall be in respective form as prescribed in Table A, B, C, D and E of Schedule I as may be applicable

✔. Adoption of Articles of Association [Sec.5(6)] AoA shall be in respective form as prescribed in Table F, G, H, I and J of Schedule I as may be applicable.

✔. Incorporation File with ROC in Form No. INC.7 [Rule 12 to 18] along with:-
(a) The Memorandum and Articles of the company duly signed by all subscribers;
(b) A declaration in Form No.INC.8 by an advocate or Practicing professional (CA, CS, CA) who is engaged in incorporation, and a person named in director as Director, Manager or Secretary, that all requirements related to incorporation has been complied with;
(c) an affidavit in Form No. INC.9 from each subscriber and from each person named as first director in the articles that; he is not convicted if any offence in connection with promotion, formation or management of any company, he is not been found guilty of any fraud or misfeasance or of any breach of duty to any company during preceding five years, and all the documents filed with the Registrar contain correct, complete and true information to the best of his knowledge and belief;
(d) the address for correspondence till its registered office is established;
(e) the particulars of every subscribers along with proof of identity;
(f) the Particulars of first directors along with proof of identity; and
(g) the particulars of interests of first directors in other firms or bodies corporate along with their consent to act as directors.

✔. Commencement of business [Sec.11] Director should file Declaration with ROC in Form No. INC.21 [Rule 24].

✔. Registered Office [Sec.12] A company shall have a registered office within 15 days of Incorporation and it shall file Form No.INC.22 [Rule 25] to verify the same.

✍ summarized by Kumar .

19/04/2014

Section 247 of the Companies Act, 2013 contains provisions exclusively regarding registered valuers.

Definition (Rule 17.1):
‘Registered Valuer’ means a person registered as a Valuer under Chapter XVII of the Act.

✔ Who can act as a registered valuer?

A person who is registered as a Registered Valuer in pursuance of Section 247 of the Act with the Central Government and whose name appears in the register of Registered Valuers maintained by the Central Government or any authority, institution or agency, as may be notified by the Central Government only can act as a registered valuer. An application for registration as valuer shall be made in Form No. 17.1 by individuals and firms and Form No. 17.2 by others, along with the fee as provided.
The following persons shall be eligible to apply for being registered as a valuer:

• A chartered accountant, company secretary or cost accountant who is in whole-time practice, or retired member of Indian Corporate Law Service or any Indian Citizen holding equivalent Indian or foreign qualification as the Ministry of Corporate Affairs may by an order recognize.

• A Merchant Banker registered with SEBI and having in his employment persons having qualifications as mentioned above to carry out valuation services by such qualified persons

• A member of the Institute of Engineers and who is in whole-time practice

• A member of the Institute of Architects and who is in whole-time practice 5 years of continuous post membership experience is mandatory in all the above cases.
In the case of merchant banker the valuation report shall be signed by the qualified person.

For the purposes of this rule, a person shall be deemed “to be in whole-time practice”, when individually or in partnership or in limited liability partnership or in merchant banker with other persons in practice who are members of other professional bodies, he, in consideration of remuneration received or to be received:

(i) engages himself in the practice of valuation; or
(ii) offers to perform or performs services involving valuation of any assets with the object of arriving at financial value of the asset being valued; or
(iii) renders professional services or assistance in or about matters of principle or detail relating to valuation.
• A person or entity possessing necessary competence and qualification as may be notified by the Central Government from time to time.

18/04/2014

Analysis of Section 185 of Companies Act 2013 (corresponding to section 295 of Companies Act 1956)

Basic Comparison: This section now applies to all companies including private companies also. Hitherto private companies were exempted from the provisions of the old section 295. So companies cannot give any loans to directors or to persons in whom the director is interested.

Section 295 of Companies Act, 1956 was applicable to only public companies while Section 185 of the 2013 Act is applicable to private companies as well. The requirements of obtaining approvals from the Central Government have been dispensed with. A managing or whole-time director can be given loan pursuant to scheme approved by the members by passing a special resolution or as a part of the conditions of service extended by the company to all its employees. A company whose business in ordinary course is to provide loan or guarantee or securities for the repayment of such loans, can provide loan or guarantee or security to its directors provided interest on loan is not less than bank rate declared by Reserve Bank of India. Punishment for contravention has been increased and not company will also be punishable in
case of contravention of this clause. The exemption given to loan
granted, guarantee or security provided by any holding company to
subsidiary or the exemptions granted to private company and a banking company has been dispensed with.

Language of Act:

185. (1) Save as otherwise provided in this Act, no company shall, directly or indirectly, advance any loan, including any loan represented by a book debt, to any of its directors or to any other person in whom the director is interested or give any guarantee or provide any security in connection with any loan taken by him or such other person:

Provided that nothing contained in this sub-section shall apply to—

(a) the giving of any loan to a managing or whole-time director—

(i) as a part of the conditions of service extended by the company to all its employees; or

(ii) pursuant to any scheme approved by the members by a special
resolution; or

(b) a company which in the ordinary course of its business provides loans or gives guarantees or securities for the due repayment of any loan and in respect of such Loan to directors, etc. loans an interest is charged at a rate not less than the bank rate declared by the Reserve Bank of India.

Explanation.—For the purposes of this section, the expression “to any other person in whom director is interested” means—

(a) any director of the lending company, or of a company which is its holding company or any partner or relative of any such director;

(b) any firm in which any such director or relative is a partner;

(c) any private company of which any such director is a director or member;

(d) any body corporate at a general meeting of which not less than twenty five per cent. of the total voting power may be exercised or controlled by any such director, or by two or more such directors, together; or

(e) any body corporate, the Board of directors, managing director or manager, whereof is accustomed to act in accordance with the directions or instructions of the Board, or of any director or directors, of the lending company.

(2) If any loan is advanced or a guarantee or security is given or provided in contravention of the provisions of sub-section (1), the company shall be punishable with fine which shall not be less than five lakh rupees but which may extend to twenty-five lakh rupees, and the director or the other person to whom any loan is advanced or guarantee or security is given or provided in connection with any loan taken by him or the other person, shall be punishable with imprisonment which may extend to six months or with fine which
shall not be less than five lakh rupees but which may extend to twenty-five lakh rupees, or with both.

Other views are welcome..!!!