RULES OF LAW

http://economictimes.indiatimes.com/news/economy/policy/ministry-of-corporate-affairs-to-notify-threshold-and-rules-for-flagging-corporate-frauds/articleshow/47777835.cms

       MCA provided Clarification on repayment of deposits under section 74 of Companies Act,2013 accepted by the companies before the commencement of the Act via circular no. 09/2015 dated 18 th June, 2015 and stated vide Removal of Difficulties (Second) Order [S.O. 1428(E)]dated 2nd June, 2014 and Removal of Difficulties (Fourth) Order [S.O. 146O(E)] dated 6 th   June, 2014, the Company Law Board has been empowered to exercise the powers of National Company Law Tribunal under section 73(4) and section 74(2) of the Companies Act,2013, till the latter's constitution. Thus, a depositor is free to file an application under section 73(4) of the Companies Act,2013, with the Company Law Board if the company fails to make repayment of deposits accepted by it. Further the company may also file application under section 74(2) of the Companies Act,2013 with the Company Law Board seeking extension of time in making the repayment of deposits accepted by it before the ...

http://www.business-standard.com/article/opinion/united-spirits-limited-a-case-of-corporate-governance-failure-115060700743_1.html

http://www.business-standard.com/article/pti-stories/expert-panel-seeks-public-comments-on-companies-act-115062100187_1.html

MCA has directed All the Non Banking Financial Institutions/Companies registered with MCA to comply with the requirement of section 45-IA of the RBI Act, 1934, if applicable to them. A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of  shares/ stocks/bonds/debenture/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property. A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is al...