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A lawyer who is not up to date with the current legal and regulatory updates is nothing short of dangerous. Therefore, at NovoJuris Legal, we strive to stay current. We are also strong believers of growth of knowledge through sharing. These articles and blogs help us share our research with the world, so that no one has to reinvent the wheel yet again.

  • Synopsis of Amendments made to the Companies Act, 2013 in the year 2019 and allied Action Points

    Synopsis of Amendments made to the Companies Act, 2013 in the year 2019 and allied Action Points

    The Ministry of Corporate Affairs (the MCA) in the month of January & February 2019 has issued the following amendments notification under the Companies Act 2013 (the Act): (a) Changes in Companies (Significant Beneficial Owners) Rules 2018 to identify individuals/entities

    AB
    By Ashwin Bhat about 1 year ago
  • Key changes on Companies (Amendment) Ordinance, 2018

    Key changes on Companies (Amendment) Ordinance, 2018

    The Ministry of Corporate Affairs (the MCA) on 2 November 2018, has notified the Companies (Amendment) Ordinance, 2018 (Ordinance) in order to amend provisions under the Companies Act of 2013. The following are the major changes brought about by the

  • Determination of Significant/Ultimate Beneficial Ownership under the Indian Laws and Laws of other jurisdictions

    Determination of Significant/Ultimate Beneficial Ownership under the Indian Laws and Laws of other jurisdictions

    The global scenario was riddled with the issue of money laundering, bribery, corruption, insider trading, tax fraud, terrorist financing and other illegal activities. These global issues were suggested to be combated by the Financial Action Task Force (FATF), an inter-governmental

    Spandan Saxena
    By Spandan Saxena over 1 year ago
  • Significant Beneficial Ownership: Who is the real owner of the shares?

    Significant Beneficial Ownership: Who is the real owner of the shares?

    The recent changes to Section 90 of Companies Act, 2013, is to determine the identity of the person behind the curtain who is having a significant ownership of the company and is essentially controlling the management and daily affairs of

    Sharda Balaji
    By Sharda Balaji over 1 year ago
  • Jurisprudence of Corporate Criminal Liability of Directors

    Jurisprudence of Corporate Criminal Liability of Directors

    Gone are the times when the world viewed Indian Companies as ‘family businesses’. With time, the structures adopted in Indian companies have grown increasingly specialized and complex, with specific directors being nominated to take charge of specified activities of the

    Avaneesh Satyang
    By Avaneesh Satyang over 1 year ago
  • Regulatory Update: Ministry of Corporate Affairs - Companies (Accounts) Amendment Rules, 2018

    Regulatory Update: Ministry of Corporate Affairs - Companies (Accounts) Amendment Rules, 2018

    The Ministry of Corporate Affairs(“MCA”) on 31 July 2018 published the Companies (Accounts) Amendment Rules 2018. With the amendment coming into effect, the MCA has mandated few insertions to be made by a Company while preparing its Board Report and

  • Issuance of Equity and Preference Shares with Differential Rights and Variation of Rights

    Issuance of Equity and Preference Shares with Differential Rights and Variation of Rights

    Background The term differential rights with respect to shares can be interpreted to mean the existence of rights different in nature than the rights that are inherently associated with ordinary shares. The holder of these shares has rights which are

    Sharda Balaji
    By Sharda Balaji over 1 year ago
  • Regulatory Update: Companies Act, 2013 for KYC of Directors

    Regulatory Update: Companies Act, 2013 for KYC of Directors

    The Ministry of Corporate Affairs (the MCA) vide its notification dated 5 July 2018, has notified the Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018 which shall come into force with effect from 10 July 2018. The MCA

  • Change in Levy of Additional Fee for Delay in Annual Filings with Ministry of Corporate Affairs

    Change in Levy of Additional Fee for Delay in Annual Filings with Ministry of Corporate Affairs

    Background The Ministry of Corporate Affairs (the MCA) on 8 May 2018, notified the Companies (Registration Offices and Fees) Second Amendment Rules 2018. With this notification, all annual filings filed post 30 June 2018, would incur a penalty of Rs.

    Shivani Handa
    By Shivani Handa over 1 year ago
  • MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (PROSPECTUS AND ALLOTMENT OF SECURITIES) AMENDMENT RULES 2018

    MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (PROSPECTUS AND ALLOTMENT OF SECURITIES) AMENDMENT RULES 2018

    The MCA vide its notification dated 7 May 2018 has amended Companies (Prospectus and Allotment of Securities) Rules 2014 and done away the requirement of detailed list of contents of the prospectus following suggestions from the stakeholders that offer documents

  • MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) SECOND AMENDMENT RULES 2018

    MINISTRY OF CORPORATE AFFAIRS: NOTIFICATION OF COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) SECOND AMENDMENT RULES 2018

    The MCA vide its notification dated 7 May 2018 has amended Companies (Appointment and Qualification of Directors) Rules 2014 by Companies (Appointment and Qualification of Directors) Second Amendment Rules 2018 expanding the scope of qualifications of independent directors. Rule 5

  • Codification of Duties of Directors under the Companies Act 2013

    Codification of Duties of Directors under the Companies Act 2013

    Introduction While the rights, powers, and duties of Directors defined in the Articles of Association of the Company, a need was felt for legal clarity. Under the Companies Act 1956 (the Erstwhile Act), there were no explicit provisions regulating the

    IA
    By Ifla A almost 2 years ago
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