All

Careers

Exams

Motivation

Exam Updates

Articleship

Info & Updates

Exam Tips

Interview

CFA

Back

Highlights of Companies (Amendment) Ordinance 2019

1,303

Highlights of Companies (Amendment) Ordinance 2019

#CompaniesAct2013

#Updates

Highlights of Companies (Amendment) Ordinance 2019

  1. Commencement Certificate is mandatory now to be obtain within 6 months of Incorporation without which, it can not comment its business activity or borrow money.
  2. The ROC can strike off a company if the address of Regd Office is bogus or incomplete/improper address.
  3. Conversion of public Ltd to Pvt Ltd matters shifted from NCLT to Regional Directorate.
  4. Company cannot issue shares at discount, - heavy penalty imposed on violation.
  5. Alteration of Authorised Capital to be intimated within 30 days, default - penalty 1000 every day or 5 Lac whichever is less.
  6. Creation of charge filing with ROC- time limit reduced from 300 days to 60 days.
  7. Wrong statement/ information in filing Charge forms with ROC may lead to misrepresentation and jail
  8. Annual Return should be filed within 60 days from AGM, failure to this, penalty of 100 per day to Company + directors max 5 Lakh apart from ROC delay charges is applicable.
  9. Penalty of 5 lakh to Company secretary certifying wrong Annual Return.
  10. Explanatory statement to be given with Notice of General Meeting must contain all details as required by Law, if no detail/short detail/misleading - penalty for Company + Directors + KMP - 50K
  11. filing of Resolutions with ROC- delay will be very costly now. Penalty for defaulter increased substantially. 500 every day max 25 Lakh
  12. Filing of Balance sheet with ROC within time limit- failure is costly for Company + Directors both. Penalty of 100 per day + 1 lakh to Company + Director each.
  13. Resignation of Auditor must be filed by the resigning Auditor within 30 days, failure to which the resigning Auditor is liable for penalty of 50,000 + 500 per day.
  14. A director can not become director in morethan 20 companies. If he continues, he becomes disqualified now.
  15. Appointment of CS on payroll (Pvt Co having paid-up capital 5 cr & above) is mandatory. Default is now very costly- penalty increased substantially.
  16. ROC may strike off a company if subscribers have not paid initial share capital after incorporation of a Company within 6 months.
Author CA Suraj Lakhotia
CA Suraj Lakhotia
21-Jan-2019
Share
  • Quick Links

  • Free Courses

    Forums

    Buy Courses

    APP 1FIN

    Free Resources

    FAQ

  • Course Guides

  • Courses

  • FR + AFM  Combo

    FR + AFM Combo

    Financial Reporting (FR) - CA Final

    Financial Reporting (FR) - CA Final

    Advanced Financial Management - AFM - CA Final

    Advanced Financial Management - AFM - CA Final

    Advanced Auditing & Professional Ethics - CA Final

    Advanced Auditing & Professional Ethics - CA Final

    Economic Laws - CA Final- (New)

    Economic Laws - CA Final- (New)

    Indirect Tax Laws (IDT) : GST, Customs & FTP - CA Final - (New)

    Indirect Tax Laws (IDT) : GST, Customs & FTP - CA Final - (New)

    Resume Workshop

    Resume Workshop

    Financial Modelling

    Financial Modelling

    Microsoft Excel - Beginners & Working Professionals

    Microsoft Excel - Beginners & Working Professionals

    Fundamentals of Blockchain

    Fundamentals of Blockchain

    Tally ERP 9.0 & Tally Prime

    Tally ERP 9.0 & Tally Prime

    1-1 Mentorship Program for Students - 1 Month

    1-1 Mentorship Program for Students - 1 Month

    1-1 Mentorship Program for Students - 3 Months

    1-1 Mentorship Program for Students - 3 Months

    Books

    Books

  • News & Updates

  • CA Sep 2025 Exam Dates Announced

    30-May-25 16:36

    📢 CA SPOM Exams Resumed!

    14-May-25 10:35

    ICAI Revises CA Final & Intermediate  May 2025 Exam Dates | New Schedule Announced

    10-May-25 20:50

    ICAI Postpones May 25 Exams

    09-May-25 04:56

    Confused what to do after 10th or 12th? Find out on 10th May !

    05-May-25 20:00

    CA Scholarship is Live! Apply & get up to 40% Off!🤩

    17-Apr-25 15:00

    Adv Accounting Marathon Revision @ Hyderabad

    09-Apr-25 16:51

    CA Final Exams to be held thrice a Year

    28-Mar-25 06:30

    CA Final Offline Marathon Revision Classes in Hyderabad!🤩

    26-Mar-25 14:00

    Financial Reporting Marathon @ ICAI Branch, Hyderabad by Suraj Sir!

    26-Mar-25 11:29

    More

    Connect With Us

    9640 11111 0

    9640 11111 0


    CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C

    2025 IndigoLearn.com All Rights Reserved