GlobizzAssociates

Home buyers as financial creditors MSME with a special dispensation –one major benefit- it does not disqualify the promoter to bid for his enterprise undergoing CIRP, if not willful defaulter. Withdrawal of CIRP permissible only with the approval of the Committee of Creditors with 90 percent of the voting share. Furthermore, such withdrawal will only be permissible before publication of notice of  EOI The voting threshold has been brought down to 66 percent from 75 percent for all major decisions Further, in order to facilitate the corporate debtor to continue as a going concern during the CIRP, the voting threshold for routine decisions has been reduced to 51%. The Resolution Applicant shall submit an affidavit certifying its eligibility to bid.  This places the primary onus on the resolution applicant to certify its eligibility. Minimum one-year grace period for the successful resolution applicant to fulfill various statutory obligations. Non -applicabilit

DIRECTORS KYC, NOW MANDATORY Key Highlights: 1. Existing Directors as on 31st March 2018 need to update KYC by 31st August 2018; 2. Directors obtained DIN (Directors Identification Number) after 31st March 2018 will file KYC Compliance Form on or before 30th April of next financial year. 3. Penalty is – Monetory – Rs.5000/- & De-activation of DIN 4. Director should file the Form using own Digital Signatures; 5. As per this provisions, now Foreign Nationals Directors are also required to have digital signature; 6. Documents Required         1. DSC of Director duly registered; 2. Self-attested PAN card; 3. Self-attested Aadhar Card; 4. Mobile Number; 5. Self-attested Electricity Bill/ Mobile Bill/ Bank statement of Director (latest 2 Months) of his/her present address;  5 . DIN declaration cum KYC. Detailed notification is attached herewith Companies (Appointment and Qualification of Directors) 4th Amendment Rules, 2018. http://www.mca.gov.inb/Ministry/pdf/CompaniesAppointment

MCA makes statutory auditor certificate must for firms raising public deposits The Ministry of Corporate Affairs (MCA) has now stipulated that companies raising public deposits should attach a Statutory Auditor’s Certificate in the circular or circulars in the form of advertisements inviting deposits. This move will come into effect from 15th August’ 2018.   The auditor certificate should certify that the company has not committed a default in repayment to deposits or in the payment of interest on such deposits, accepted either before or after the commencement of the new Company Law in 2013. Also, where a default had occurred, the auditor has to certify that the company had made good the default and a period of five years had lapsed since the date of bringing it to a close, the MCA said.   NBFCs excluded This requirement will not be applicable to any non-banking finance company or any banking company as these companies come under the regulatory oversight of the Reserve Bank o

With audits, it is important that you are making sure that it is done correctly. And, that there aren’t any mistakes that can cause some problems of you on the long run. There are so many things that you should know and consider, that for someone without the right experience, it can be hard to do their audits successful. This is why many people are hiring audit services. These services have the right experience and knowledge to do anyone’s audit correctly. But, in order to make a success with your audit, you need to hire the right service. You can’t just hire the first and best service. These are somethings that you should consider when you are hiring a service for doing your audits. The importance of hiring the right service You need to know that when you are hiring corporate secretarial services, they have access to all your financial states and information. This can easily lead to theft or fraud if you aren’t careful. The amount of experience that they have The first thing that yo

M/s BLAK & CO. (Company Secretaries) Mr. Bansal established M/s Bansal Manish & Co., Company Secretaries at New Delhi in year 2000 as proprietorship firm which was subsequently converted into partnership firm and the name of the Firm was changed in year 2013 with the approval of ICSI as ‘BLAK & CO.’. The firm having its offices at New Delhi, Mumbai, Kanpur & Goa with the prestigious client base across the globe. The Secretarial Audit, Secretarial Compliances, Legal Compliances, FEMA and NBFCs Compliances and several other professional jobs are being undertaken by the Firm. The Firm is having sufficient strength of qualified Company Secretaries alongwith other qualified upcoming company secretaries. The professional competency with desired quality and documentation is main stress rather to have volume. However, the Firm is blessed with more than 200 corporate clients including corporate like PSUs, Foreign Subsidiaries, Foreign Companies, Futuristic Companies, Big Corpor

GLOBIZ offers clients on the development and implementation of governance, ethics, and compliance programs, including management structures and control systems, to prevent and detect violations of law.Our services are to provide intime and professional solutions for all compliances under regulatory framework. It includes compliances of any kind and nature including preparation of ‘Corporate Compliance Mannual’ for effective compliances. Various statutes are applicable at any point of time and their in-house compliances with expertise is not feasible for an industry and also expensive. It is always our endeavor to keep updates the clients so far as the maintenance of records and statutory compliance filing are concerned. We frame the compliance requirements as per the requirements of Client and Industry specific. We offers value added services specially in the following business sectors: Companies Act SEBI Laws Income Tax Laws Service Tax VAT Sales Tax Industrial L