This article shall give an overview of the Companies (Amendment) Bill, 2017 as passed by the parliament. The proposed amendments shall be shown section-wise for easier reference.
The Companies (Amendment) Bill, 2017 (herein-after referred to as “the bill”) was introduced in the Lok Sabha on 16.03.2016 and was referred to the Standing Committee on Finance on 12.04.2016. The Standing Committee thereafter adopted its report on 30.11.2016. The Companies (Amendment) Bill, 2017 was passed by the Lok Sabha on 27.07.2017 and by the Rajya Sabha on 19.12.2017, and is currently awaiting the President’s assent.
The proposed amendments of the Companies Act, 2013 (act) as per the bill help in streamlining several of the processes under the act. It also clarifies on several aspects that have, until now, remained ambiguous. Furthermore, several procedures, such as conversion of partnership firms into a private company, have been simplified.
This article shall give an overview of the Companies (Amendment) Bill, 2017 as passed by the parliament. The proposed amendments shall be shown section-wise for easier reference. This article shall provide for only a few important amendments that are proposed and shall not go into every proposed amendment.
1. Definitions
(i) The definitions of debentures have been limited in its scope to exclude such instruments as are mentioned in Chapter IIID of the Reserve Bank of India Act, 1934. Furthermore, any other instrument as notified by the central government in consultation with the RBI shall also not be treated as debenture.
(ii) Small Company as defined under section 2(85) has been amended to mean a company having a paid up share capital not exceeding 10 Crores and whose turnover does not exceed 100 Crores in the profit and loss account of the immediately preceding financial year. This has effectively brought several companies under definition of Small Company. Considering the fact that investments and business is on the rise, this was a much-needed change.
2. Incorporation of company
この記事は UNIQUE TIMES の January - February 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は UNIQUE TIMES の January - February 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Come Fall in Love With Lisbon
With its cobblestone alleys, trams, centuries-old churches, hand-painted ceramic tiles, and buildings in pastel shades with quaint balconies, this city is sure to fascinate travellers who love the old-world charm.
Beauty Benefits of Beetroot for Skin and Hair
Ever wondered if the secret to radiant skin and fabulous hair could be as simple as adding a splash of colour to your beauty routine?
FROM COCOON TO BOOM!
Change compels individuals to confront their limitations and discover their potential, laying the foundation for transformation. Transformation, on the other hand, involves a deeper, more deliberate process of growth. It often begins with introspection and a conscious decision to evolve. This could mean overcoming negative behaviors, adopting new habits, or shifting one's mindset.
The Science of Sleep: Mysteries of Rest
Sleep is one of the most fundamental aspects of our health, yet it is often overlooked in the hustle of modern life.
Principle Of Res Judicata And Consistency In Tax Matters A Brief Analysis From An Indian Perspective
Certainty is a cornerstone of an effective tax system, forming a crucial pillar of the rule of law.
The Health Benefits Of Love-Making
The feeling of being in love can not only have an effect on our brain, but it can also lead to changes in human physiology and behavior. According to scientists from around the world, each stage of love for another human may be driven by the release of different hormones. This cocktail of hormones released during each phase (Three phases include lust, attraction, and attachment) can influence the way that we think and behave and can have a positive effect on our well-being.
RSS: Rewarding Senior Society
Recognising the importance of maintaining social connections and the need for occasional travel, the RSS initiative includes an annual free return ticket on airlines for senior citizens. The government will compensate 50% of the fare to the airlines, making air travel more accessible and affordable for our elderly.
Fixed Deposits and Income Tax: A Must-Read for NRIs
NRIs must inform their bankers about their residential status shifts and re-designate their bank accounts and deposits accordingly. Additionally, you must also anticipate the tax obligations that follow and carry out proper tax planning with the help of your Chartered Accountant to manage your taxes.
From Dreams to Dynasties: The Story of Veekay Group's Rise
To be a world-class leader in businesses that enrich lives and contribute to nations by building sustainable infrastructure, creating long-term value, and fostering innovation.
Empowering Beauty Beyond Borders: Miss Asia Global 2024
Beauty pageants and the world of fashion and modelling have evolved into platforms that celebrate not only physical appearance but also intelligence, personality, and talent.
