Please share format got objection in Incorporation form.
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Please clarify if anyone can help:
CRC Query:
Please submit declaration of witness in MOA/AOA in accordance to Rule 13 (1) of Companies Incorporation Rules 2014
(Please mention Date & Place in declaration itself as per the said Rule)
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2. Restriction on number of layers for certain classes of holding companies.
—(1) On and from the date of commencement of these rules, no company, other than a company belonging to a class specified in sub-rule (2), shall have more than two layers of subsidiaries:
Provided that the provisions of this sub-rule shall not affect a company from acquiring a company incorporated outside India with subsidiaries beyond two layers as per the laws of such country: Provided further that for computing the number of layers under this rule, one layer which consists of one or more wholly owned subsidiary or subsidiaries shall not be taken into account.
Can anyone explain how to determine 2 layers ?
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As per Section: 90. Register of significant beneficial owners in a company
Every individual, who acting alone or together, or through one or more persons or trust, including a trust and persons resident outside India, holds beneficial interests, of not less than twenty-five per cent. or such other percentage as may be prescribed, in shares of a company or the right to exercise, or the actual exercising of significant influence or control as defined in clause (27) of section 2, over the company (herein referred to as “significant beneficial owner”), shall make a declaration to the company, specifying the nature of his interest and other particulars, in such manner and within such period of acquisition of the beneficial interest or rights and any change thereof, as may be prescribed:
Concerned: Companies (Significant Beneficial Owners) Amendment Rules
"majority stake" means;- (i) holding more than one-half of the equity share capital in the body corporate; or (ii) holding more than one-half of the voting rights in the body corporate; or (iii) having the right to receive or participate in more than one-half of the distributable dividend or any other distribution by the body corporate;
“significant beneficial owner” in relation to a reporting company means an individual referred to in sub-section (1) of Section 90, who acting alone or together, or through one or more persons or trust, possesses one or more of the following rights or entitlements in such reporting company, namely: (i) holds indirectly, or together with any direct holdings, not less than ten percent, of the shares; (ii) holds indirectly, or together with any direct holdings, not less than ten percent, of the voting rights in the shares; (iii) has right to receive or participate in not less than ten per cent, of the total distributable dividend, or any other distribution, in a financial year through indirect holdings alone, or together with any direct holdings; (iv) has right to exercise, or actually exercises, significant influence or control, in any manner other than through direct-holdings alone:
For the purpose of this clause, an individual shall be considered to hold a right or entitlement indirectly in the reporting company, if he satisfies any of the following criteria, in respect of a member of the reporting company, namely: - (i) where the member of the reporting company is a body corporate (whether incorporated or registered in India or abroad), other than a limited liability partnership, and the individual, (a) holds majority stake in that member; or (b) holds majority stake in the ultimate holding company (whether incorporated or registered in India or abroad) of that member;
BEN-1: Every individual, who subsequently becomes a significant beneficial owner or where his significant beneficial ownership undergoes any change, shall file a declaration in Form No. BEN-1 to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.
BEN-2: Upon receipt of declaration, the reporting company shall file a return in Form No. BEN-2 with the Registrar within a period of thirty days from the date of receipt of such declaration.
How to determine the SBO ?
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Hello All,
While doing change of company name of the company then got INC - 24 re-submission stating that "declaration that the company has not defaulted in payment of matured deposits/ debentures and interest thereof " as required under rule 29(1) of the incorporation rules 2014" Please do provide the format as last date for re-submission is very near. kindly help please
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As per, Companies (Acceptance of Deposits) Amendment Rules, 2019 on 22nd January 2019 to further amend the Companies (Acceptance of Deposits) Rules, 2014:
Following transactions are enlisted in Rule 2(1)(c) which required one time Reporting in DPT-3
Rule 2(1)(c) defines the term ‘deposit’ in an exclusive manner and enlists 19 transactions which are not treated as deposits. Below is the list of the items that are excluded from the term ‘deposit’ subject to the conditions/ exceptions mentioned thereunder-
a. Amount received from central government, state government etc;
b. Amount received from foreign governments/ banks etc;
c. Amount received as loan from banks, banking companies etc;
d. Amount received as loan from Private Finance institutions (PFIs), any regional Financial Institutions or insurance companies or scheduled banks;
e. Amount raised through issuance of commercial paper;
f. Inter- corporate deposits;
g. Amount received as subscription money for securities pending allotment;
h. Amount received from directors/ relative of directors in case of a private company;
i. Amount raised by issue of secured bonds/ debentures;
j. Amount raised through issuance of unsecured listed NCDs;
k. Non-interest bearing security deposit received from employees;
l. Non-interest bearing amount held in trust;
m. Advance from customers;
n. Amount brought by the promoters;
o. Any amount accepted by a Nidhi;
p. Any amount received by way of subscription in respect of a chit;
q. Any amount received by the company under any collective investment scheme;
r. Amount received by start- up company by way of convertible note;
s. Amount received from Alternate Investment Funds (AIFs), venture capital funds (VCFs) real estate investment trusts (REITs) etc.
Here in our case, A company conducted an activity, the merchandise cost for the same was reimbursed by the Ministry of Tourism, Government of India.
As per the Companies Act, 2013 any amount received from the Central or State Government or Statutory authority is an exempted deposit and DPT-3 has to be filed Right ?
1Applicable on All companies (whether Private or Public or OPC etc.) except Government Companies are required to file form DPT-3.
Kindly share your views for the same on above cited Query for filing of DPT-3
What changes have been brought in in the Extract of MGT-9 Rules ?
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Dear Members,
Please suggest if a Company having profit less than 5 crs in any financial
year, required to spend for CSR.
rule
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dear Members,
Please suggest if a Company having profit less than 5 crs in any financial year, required to spend for CSR.
rule
subsection
provisions
As per Rule :
(1) Every Nidhi shall, within a period of one year 1[from the date of its incorporation], ensure that it has-
(a) not less than two hundred members;
(b) Net Owned Funds of ten lakh rupees or more;
(c) unencumbered term deposits of not less than ten percent. of the outstanding deposits as specified in rule 14; and
(d) ratio of Net Owned Funds to deposits of not more than 1:20.
(2) Within ninety days from the close of the first financial year after its incorporation and where applicable, the second financial year, Nidhi shall file a return of statutory compliances in 4[Form NDH-1] along with such fee as provided in Companies (Registration Offices and Fees) Rules, 2014 with the Registrar duly certified by a company secretary in practice or a chartered accountant in practice or a cost accountant in practice.
We understand its a One-time Filing after its incorporation either Within ninety days from the close of the first financial year after its incorporation and where applicable, the second financial year (in case of not falling under First Year), Here not stated subsequent Year or every year so we can opine that its one-time Compliance Return. PLease clarify if anyone having strong views on this.
Hello,
Anyone is facing Downloading the New (Indian Accounting Standards ) Amendment Rule 2021 ?
Hello,
Anyone is facing Downloading the New (Indian Accounting Standards ) Amendment Rule 2021 ?
