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    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
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    August 10, 2026
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    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
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    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
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    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
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    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
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    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
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    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
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    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
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    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.

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      Corp. Laws, SEBI & IBC

      NOTICE INVITING COMMENTS ON THE DRAFT COMPANIES (Incorporation) Second AMENDMENT RULES 2016

      February 18, 2016

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      GOVERNMENT OF INDIA

      Ministry of Corporate Affairs

      NOTICE INVITING COMMENTS ON THE DRAFT COMPANIES (Incorporation) Second  AMENDMENT RULES 2016

      Dated the 17th February, 2016

      1. The draft Companies COMPANIES (Incorporation) Second AMENDMENT RULES 2016 i.e. conversion of unlimited liability company into limited liability company has been placed on the Ministry’s website at www.mca.gov.in. It has been decided to invite suggestions/comments on the above draft.

      2. Suggestions/comments on above mentioned draft along with justification in brief may be sent latest by 02.03.2016 through email at [email protected]   It is requested that the name, Telephone number and address of the sender should be indicated clearly at the time of sending suggestions/comments.

      Name, Address, Contact No. of Stake holder __________________

      SL.No

      Rule No.or Form No.

      Suggestion

      Justification

                       

       

       

       

       

       

      To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)]

      Government of India

      Ministry of Corporate Affairs

      NOTIFICATION

      New Delhi, February, 2016

      G.S.R..-In exercise of the powers conferred by sub-sections (1), (2) and (3) of section 18 read with sub-sections (1) and (2) of Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely:-

      1. (1) These rules may be called the Companies (Incorporation) Second Amendment Rules, 2016.

      (2) They shall come into force from the date of their publication in the Official Gazette.

      2. In the Companies (Incorporation) Rules, 2014,

      After existing Rule 36, the following Rules shall be inserted.-

      37. Conversion of unlimited liability company into limited liability company:-

      For effecting the conversion of an unlimited liability company into limited liability company, the company shall pass a special resolution in a general meeting and thereafter, an application shall be filed in Form INC-27 in the manner hereinafter provided.

      (2) The Company shall within seven days from the date of passing of the special resolution in a general meeting, publish a notice of such proposed conversion in newspapers (one in English and one in vernacular language) in the district in which the registered office of the company is situate and shall also  place the same on the website of the Company, if any, indicating clearly the proposal of conversion of the company into limited liability company, and seeking objections if any from the persons interested in its affairs, to such conversion and cause a copy of such notice to be dispatched to its creditors and debentures holders by registered post or electronic mode or through courier with proof of dispatch. The notice shall also state that the objections, if any, may be intimated to the Registrar and to the company within twenty-one days of the date of publication of the notice, duly indicating nature of interest and grounds of opposition.

      (3) The Company shall within sixty days of passing of the special resolution  file an application as prescribed in sub rule (1) for its conversion into Limited Liability Company alongwith the fees as provided in the Companies (Registration offices and Fees) Rules, 2014, by attaching the following documents, namely:-

      a. Notice of the general meeting along with explanatory statement;

      b.  Copy of the resolution passed in the general meeting;

      c. Copy of the newspaper publication;

      d. A copy of altered Memorandum of Association as well as Articles of Association duly certified by any one of the directors duly authorised in this behalf.

      e. Declaration from all the directors of the Company that such conversion shall not affect any debts, liabilities, obligations or contracts incurred or entered into by or on behalf of the Company before conversion (except to the extent that the liability of the members shall become limited).

      f. A complete list of creditors and debenture holders, drawn up to the latest practicable date preceding the date of filing of application by not more than thirty days, setting forth the following details, namely:-

      (i) the names and address of every creditor and debenture holder of the Company;

      (ii) the nature and respective amounts due to them in respect of debts, claims or liabilities:

      (iii) declaration by a director of the company that notice as  required in sub-rule (2) has been dispatched to all creditors and debenture holders with proof of dispatch.

      g. A declaration signed by not less than two directors of the company, one of whom shall be a managing director where there is one, to the effect that they have made a full enquiry into the affairs of the Company and, having done so, have formed an opinion that the list of creditors is correct, and that the estimated value as given in the list of the debts or claims payable on a contingency or not ascertained are proper estimates of the values of such debts and claims and that there are no other debts of or claims against the Company to their knowledge.

      h. A declaration of solvency signed by at least two directors of the company, one of whom shall be the managing director where there in one to the effect that the Board of Directors of the company have made a full inquiry into the affairs of the company, as a result of which they have formed an opinion that it is capable of meeting its liabilities and will not be rendered insolvent within a period of one year from the date of declaration, through a resolution, passed in a duly convened meeting.

      i. The company should also obtain a certificate from the Statutory Auditors that the company is solvent and that it is a going concern as on the date of passing of resolution by the Board certifying solvency as per (h) above.

      j. NOC from sectoral regulator, where necessary.

      k. NOCs from all secured creditors, if any.

      (4) Declaration from all the directors of the Company that no complaints are pending against the company from the members or investors.

      (5) Where no objection has been received from any persons, who have been duly served with notice, the application shall be decided by the Registrar on merits.  Where an objection has been received, the company shall either obtain the objector’s consent to the conversion or his debt or claim has been discharged or determined or has been secured as the case may be, to the satisfaction of the Registrar.

      (6) The certificate of incorporation consequent to conversion of unlimited liability company to the limited liability company in Form INC-11A shall be issued to the company upon grant of approval for conversion.

      (7) Conditions to be complied with, subsequent to conversion:-

      (i) Company shall not change its name for a period of one year from the date of such conversion.

      (ii)  The company shall not declare or distribute any dividend without satisfying past debts, liabilities, obligations or contracts incurred or entered into before conversion.

      (8) An Unlimited Liability Company shall not be eligible for conversion into Limited Liability Company in case ;-

      (a) Its networth is negative, or

      (b)  It has incurred losses continuously for the past three financial years, or

      (c) Scrutiny or inquiry or investigation is pending and where it is completed and prosecution is pending against the company or its directors under the provisions of the Companies Act, 1956/2013 as consequence thereof, or

      (d) An application is pending under the provisions of the Companies Act 1956/2013 for striking off its name, or

      (e)  The company has defaulted in filing Annual Returns and or financial statements under the provisions of the Companies Act.

      (ii) For the existing form INC-27 the following form INC-27 shall be substituted.

      (iii) After the existing Form INC-11, the form no. INC-11A shall be inserted

      Form No. INC-11A

      Certificate of Incorporation pursuant to conversion of Unlimited Liability company into Limited Liability Company

      [pursuant to section 18 of the Companies Act, 2013 read with Rule 37 of the Companies (Incorporation) Rules, 2014]

      I hereby certify that……………(name of the company prior to conversion) having unlimited liability has been converted into……….(name of the company after conversion) company having limited liability with effect from the date of this certificate on the company is limited by shares/limited by guarantee.

      The CIN of the company is……………………………

      Given under my hand at…………… this………………… day of…………… two thousand………………

      SEAL:                                                                                                                     …………………

      Registrar of Companies …………………………

      (State)

      [F. No. 1/13/2013 CL-V]

      AMARDEEP SINGH BHATIA, Jt. Secy.

      Note: - The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, sub-section (i), vide number G.S.R. 250(E), dated the 31st March, 2014, amended vide number G.S.R 349(E) dated 1st May, 2015, amended vide G.S.R. 442 (E) dated 29.05.2015 and lastly vide number G.S.R. 99(E) dated 22.01.2016.

      Form No. INC-11A

      Certificate of Incorporation pursuant to conversion of Unlimited Liability company into Limited Liability Company

      [pursuant to Rule 37 of the Companies (Incorporation) Rules, 2014]

      I hereby certify that (name of the company) has been converted from……………. to………………….. with effect from the date of this certificate on the company is limited by shares/limited by guarantee.

      The CIN of the company is……………………………

      Given under my hand at…………… this………………… day of…………… two thousand………………

      SEAL:

       …………………

      Registrar of Companies

      …………………………

      (State)

       

      GOVERNMENT OF INDIA

      Ministry of Corporate Affairs

      NOTICE INVITING COMMENTS ON THE DRAFT COMPANIES (Incorporation) Second  AMENDMENT RULES 2016

      Dated the 17th February, 2016

       

      1. The draft Companies COMPANIES (Incorporation) Second AMENDMENT RULES 2016 i.e. conversion of unlimited liability company into limited liability company has been placed on the Ministry’s website at www.mca.gov.in. It has been decided to invite suggestions/comments on the above draft.

      2. Suggestions/comments on above mentioned draft along with justification in brief may be sent latest by 02.03.2016 through email at [email protected]   It is requested that the name, Telephone number and address of the sender should be indicated clearly at the time of sending suggestions/comments.

      Name, Address, Contact No. of Stake holder __________________

      SL.No

      Rule No.or Form No.

      Suggestion

      Justification

                       

       

       

       

       

      To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)]

      Government of India

      Ministry of Corporate Affairs

      NOTIFICATION

      New Delhi, February, 2016

      G.S.R..-In exercise of the powers conferred by sub-sections (1), (2) and (3) of section 18 read with sub-sections (1) and (2) of Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely:-

      1. (1) These rules may be called the Companies (Incorporation) Second Amendment Rules, 2016.

      (2) They shall come into force from the date of their publication in the Official Gazette.

      2. In the Companies (Incorporation) Rules, 2014,

      After existing Rule 36, the following Rules shall be inserted.-

      37. Conversion of unlimited liability company into limited liability company:-

      For effecting the conversion of an unlimited liability company into limited liability company, the company shall pass a special resolution in a general meeting and thereafter, an application shall be filed in Form INC-27 in the manner hereinafter provided.

      (2) The Company shall within seven days from the date of passing of the special resolution in a general meeting, publish a notice of such proposed conversion in newspapers (one in English and one in vernacular language) in the district in which the registered office of the company is situate and shall also  place the same on the website of the Company, if any, indicating clearly the proposal of conversion of the company into limited liability company, and seeking objections if any from the persons interested in its affairs, to such conversion and cause a copy of such notice to be dispatched to its creditors and debentures holders by registered post or electronic mode or through courier with proof of dispatch. The notice shall also state that the objections, if any, may be intimated to the Registrar and to the company within twenty-one days of the date of publication of the notice, duly indicating nature of interest and grounds of opposition.

      (3) The Company shall within sixty days of passing of the special resolution  file an application as prescribed in sub rule (1) for its conversion into Limited Liability Company alongwith the fees as provided in the Companies (Registration offices and Fees) Rules, 2014, by attaching the following documents, namely:-

      a. Notice of the general meeting along with explanatory statement;

      b.  Copy of the resolution passed in the general meeting;

      c. Copy of the newspaper publication;

      d. A copy of altered Memorandum of Association as well as Articles of Association duly certified by any one of the directors duly authorised in this behalf.

      e. Declaration from all the directors of the Company that such conversion shall not affect any debts, liabilities, obligations or contracts incurred or entered into by or on behalf of the Company before conversion (except to the extent that the liability of the members shall become limited).

      f. A complete list of creditors and debenture holders, drawn up to the latest practicable date preceding the date of filing of application by not more than thirty days, setting forth the following details, namely:-

      (i) the names and address of every creditor and debenture holder of the Company;

      (ii) the nature and respective amounts due to them in respect of debts, claims or liabilities:

      (iii) declaration by a director of the company that notice as  required in sub-rule (2) has been dispatched to all creditors and debenture holders with proof of dispatch.

      g. A declaration signed by not less than two directors of the company, one of whom shall be a managing director where there is one, to the effect that they have made a full enquiry into the affairs of the Company and, having done so, have formed an opinion that the list of creditors is correct, and that the estimated value as given in the list of the debts or claims payable on a contingency or not ascertained are proper estimates of the values of such debts and claims and that there are no other debts of or claims against the Company to their knowledge.

      h. A declaration of solvency signed by at least two directors of the company, one of whom shall be the managing director where there in one to the effect that the Board of Directors of the company have made a full inquiry into the affairs of the company, as a result of which they have formed an opinion that it is capable of meeting its liabilities and will not be rendered insolvent within a period of one year from the date of declaration, through a resolution, passed in a duly convened meeting.

      i. The company should also obtain a certificate from the Statutory Auditors that the company is solvent and that it is a going concern as on the date of passing of resolution by the Board certifying solvency as per (h) above.

      j. NOC from sectoral regulator, where necessary.

      k. NOCs from all secured creditors, if any.

      (4) Declaration from all the directors of the Company that no complaints are pending against the company from the members or investors.

      (5) Where no objection has been received from any persons, who have been duly served with notice, the application shall be decided by the Registrar on merits.  Where an objection has been received, the company shall either obtain the objector’s consent to the conversion or his debt or claim has been discharged or determined or has been secured as the case may be, to the satisfaction of the Registrar.

      (6) The certificate of incorporation consequent to conversion of unlimited liability company to the limited liability company in Form INC-11A shall be issued to the company upon grant of approval for conversion.

      (7) Conditions to be complied with, subsequent to conversion:-

      (i) Company shall not change its name for a period of one year from the date of such conversion.

      (ii)  The company shall not declare or distribute any dividend without satisfying past debts, liabilities, obligations or contracts incurred or entered into before conversion.

      (8) An Unlimited Liability Company shall not be eligible for conversion into Limited Liability Company in case ;-

      (a) Its networth is negative, or

      (b)  It has incurred losses continuously for the past three financial years, or

      (c) Scrutiny or inquiry or investigation is pending and where it is completed and prosecution is pending against the company or its directors under the provisions of the Companies Act, 1956/2013 as consequence thereof, or

      (d) An application is pending under the provisions of the Companies Act 1956/2013 for striking off its name, or

      (e)  The company has defaulted in filing Annual Returns and or financial statements under the provisions of the Companies Act.

      (ii) For the existing form INC-27 the following form INC-27 shall be substituted.

      (iii) After the existing Form INC-11, the form no. INC-11A shall be inserted

      Form No. INC-11A

      Certificate of Incorporation pursuant to conversion of Unlimited Liability company into Limited Liability Company

      [pursuant to section 18 of the Companies Act, 2013 read with Rule 37 of the Companies (Incorporation) Rules, 2014]

      I hereby certify that……………(name of the company prior to conversion) having unlimited liability has been converted into……….(name of the company after conversion) company having limited liability with effect from the date of this certificate on the company is limited by shares/limited by guarantee.

      The CIN of the company is……………………………

      Given under my hand at…………… this………………… day of…………… two thousand………………

      SEAL:                                                                                                                     …………………

      Registrar of Companies …………………………

      (State)

      [F. No. 1/13/2013 CL-V]

      AMARDEEP SINGH BHATIA, Jt. Secy.

      Note: - The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, sub-section (i), vide number G.S.R. 250(E), dated the 31st March, 2014, amended vide number G.S.R 349(E) dated 1st May, 2015, amended vide G.S.R. 442 (E) dated 29.05.2015 and lastly vide number G.S.R. 99(E) dated 22.01.2016.

      Form No. INC-11A

      Certificate of Incorporation pursuant to conversion of Unlimited Liability company into Limited Liability Company

      [pursuant to Rule 37 of the Companies (Incorporation) Rules, 2014]

      I hereby certify that (name of the company) has been converted from……………. to………………….. with effect from the date of this certificate on the company is limited by shares/limited by guarantee.

      The CIN of the company is……………………………

      Given under my hand at…………… this………………… day of…………… two thousand………………

      SEAL:

       …………………

      Registrar of Companies

      …………………………

      (State)

      Topics

      ActsIncome Tax