FROM THE DESK OF CS S. DHANAPAL, B.Com, B.A.B.L., F.C.S
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Dear All,
Companies Act, 2013 (Act) has brought about enormous changes in almost every sphere of Corporate Compliance, Management and Administration.
Every change brings with it some complexities, resistance and issues. Some of the major concerns raised by the stakeholders regarding the Act are onerous reporting requirements, practical difficulties in complying with requirements laid down in some of the commenced provisions, repeated compliance provisions in some cases and stringent provisions relating to punishment for defaults for complying with procedural laws. Another concern is withdrawal of almost all the exemptions and privileges, barring a very few, available to private companies under the six decade old Companies Act, 1956.
In order to iron out procedural issues, remove stringent laws, and to improve business sentiment in the country the Companies Amendment Act, 2015 has been notified. The Amendment Act aims at making it easier for corporates to do business in India.
Notifications have also been recently released by MCA recently granting certain reliefs and relaxations to Private Companies, Government Companies, Nidhi Companies and Companies Registered u/s 8. A combined reading of these notifications along with the Companies Amendment Act, 2015 will throw better light on the applicability of the various provisions of the Companies Act, 2013 to various classes of Companies.
The present write up presents an overview of the changes introduced by the Companies Amendment Act, 2015.
Please click on the link below at the end of the email to download and read the full article.
Write-ups on the exemption notifications are also attached herewith for ready reference of the readers.
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Thanks and Regards
S. Dhanapal
Sr. Partner
M/s. S Dhanapal & Associates
(a Firm of Practising Company Secretaries)
Suite No.103, First Floor, Kaveri Complex,
96/104, Nungambakkam High Road,
(Next to NABARD and ICICI Bank),
Nungambakkam, Chennai - 600 034.
Land-line 044 - 4553 0256 / 0257
Dir-044-42652127 Cell-9677022712
email: csdha...@gmail.com
website:www.csdhanapal.com
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