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The current industry practice is to identify beneficial owners primarily through economic ownership. But recent MCA orders have left MNCs confused over how to ascertain beneficial ownership through control.
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The Registrar of Companies has reportedly sent a notice to L&T Employees Welfare Foundation and LandT Welfare Co Ltd seeking their response to the allegations of cheating levelled by a group of employees.
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Many smaller companies would have found it tough to meet the September 30 deadline as they would not have audited accounts owing to COVID-19 disruptions. Every year, companies hold their annual general meetings towards the end of September.
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The Ministry of Corporate Affairs' western regional director office has ordered an inspection under Section 206 of the Company's Act.
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“Delhi’s RoC, which has been probing Aarush Forex Pvt for a while now, unearthed some suspicious transactions in its books and came across several companies, including Thomas Cook,” a source said.
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The RoC also advised the company to be careful in future regarding compliance with the provisions of the Companies Act, 2013.
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While 'quant' is a registered trademark, 'Quantum' is not yet registered
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RoC has also, in certain cases, asked for an undertaking from software development or information technology companies that it will not deal with cryptocurrencies.
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The Registrar of Companies (RoC), in last two weeks, has listed 250,000 companies who have not applied for the ‘dormant’ status as required under the Companies Act, 2013.
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State-owned Punjab National Bank (PNB) today said it will provide technology platform for pilot launch of India Post Payments Bank (IPPB).
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The average dividend received from its holdings for the four fiscal years between 2013-2016 was Rs 6,855 crore. Mistry joined as Chairman of the company in December 2012. The average dividend for the four years prior to his apointment was Rs 2,730 crore.
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India Post Payments Bank has come into existence after it received certificate of incorporation from the Registrar of Companies, setting the stage for the new bank to begin operations in 2017.
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Myntra will scrap its mobile-only approach and will relaunch desktop website by June 1
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According to the sources, the I-T Department is looking into the financial structure of the Noida-based company and have obtained documents, including those from the Registrar of Companies (RoC), in this regard.
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To check the menace of illicit money-pooling activities of small unlisted companies, Sebi has proposed a joint task force of financial regulators and intelligence agencies to bring them under regulatory ambit.
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Tyre manufacturer MRF on Monday reported a 94.07 percent surge in standalone net profit at Rs 446.81 crore for the third quarter ended June 30.
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The promoters and directors of such companies who would fail to list even after the extended time of 18 months would have to undergo 'stricter scrutiny' for their any future association with securities market
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Investors continued to buy shares of Sun Pharmaceutical Industries and Ranbaxy Laboratories on Wednesday after the merger of Ranbaxy with itself has been consummated by Sun following receipt of requisite approvals. Both stocks gained more than 2 percent intraday.
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The company had received approvals from the Bombay High Court earlier and today filed the order with the Registrar of Companies to conclude the merger process, Pfizer Ltd said in a statement.
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The ministry has issued show cause notices to three auditors seeking explanation for the lapses in auditing the books of NSEL and Financial Technologies (India) Ltd, according to a senior official. The notices have been sent for violations of Companies Act.
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Independent directors will soon have to provide "detailed reasons" for their resignations from boards of listed companies and the same would need to be made public under new norms being finalised by regulator Sebi.
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The move would drastically cut down the number of pages in offer documents or prospectus for IPOs and FPOs, which are currently very bulky in nature and run into hundreds of pages.
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The Ministry of Corporate Affairs (MCA) had previously asked RoC Mumbai to collect details of NSEL and other group entities.
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Chennai-based low-cost airline SpiceJet has been sent a show-cause notice for alleged violation of provisions of the Companies Act.
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Fresh trouble for self-styled godman Asaram as the Registrar of Companies on Wednesday wrote to the Ministry of Corporate affairs and recommended action against Asaram and his son in the land grab case in Madhya Pradesh.
