CS Sweety Aggarwal

The Ministry of Corporate Affairs (MCA) has extended the due date for filing XBRL financial statements for the FY 2024–25. Companies that are required to file their annual financials in XBRL format now have additional time to complete the compliance process. 🔹 New Last Date for XBRL Filing ➡️ 30th December 2025 (after extension) Who […]

In the dynamic world of startups and venture capital, innovative financing instruments have become essential to enable early-stage investments with flexibility and reduced complexity. One such instrument making waves in the Indian startup ecosystem is the iSAFE Note – India Simple Agreement for Future Equity. What is an iSAFE Note? An iSAFE Note is a […]

Strike Off (via Form STK-2) *Eligibility:* Company has no liabilities and is not carrying on business. Stepwise Process • 1. Hold Board Meeting and pass resolution for Strike Off. • 2. Obtain consent of shareholders (Special Resolution). • 3. Prepare and execute Affidavits & Indemnity Bonds from all directors. • 4. Prepare Statement of Accounts […]

1. Verify Articles of Association (AOA) • Check whether the AOA permits conversion of loan into equity. • If not permitted, alter the AOA by passing a Special Resolution. 2. Board Meeting • Issue notice of Board Meeting (minimum 7 days before meeting). • Pass Board Resolution for: o Approval of conversion of loan into […]

September DUE DATE- In India, the Ministry of Corporate Affairs (MCA) has mandated Know Your Customer (KYC) for all directors to ensure transparency and curb fraudulent activities in the corporate ecosystem. The Director’s KYC compliance is crucial for maintaining an active DIN (Director Identification Number) status. As the deadline approaches, it’s essential for companies and […]

XBRL is a language for the communication of financial and business data electronically used for business reporting around the world. XBRL means extensible Business Reporting Language. The XBRL filing provides benefits in analysing, preparing, and communicating business information. The Ministry of Corporate Affairs (MCA) introduced XBRL filing of financial statements with the Registrar of Companies […]

In the pursuit of strengthening corporate governance, the Ministry of Corporate Affairs (MCA) has made it mandatory under Section 118(10) of the Companies Act, 2013 for companies to comply with Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI). While Secretarial Standard 1 (SS-1) deals with Board Meetings, Secretarial Standard 2 (SS-2) […]

The Ministry of Corporate Affairs (MCA), through Section 118(10) of the Companies Act, 2013, has mandated compliance with Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI). Among these, Secretarial Standard 1 (SS-1) deals with the conduct of meetings of the Board of Directors. SS-1 provides a detailed framework to ensure good […]

Understanding Section 186 of the Companies Act, 2013: Loans, Investments, Guarantees, and Securities The Companies Act, 2013 governs corporate affairs in India and has a dedicated provision—Section 186—that regulates how companies deal with loans, investments, guarantees, and securities. This section is a key control mechanism, ensuring companies do not misuse their financial resources or indulge […]

In the corporate world, directors play a pivotal role in steering a company toward success. However, when it comes to financial dealings between a company and its directors, especially loans, the law steps in to ensure transparency, accountability, and protection of stakeholders. This blog explores the concept of loans to directors, the legal framework governing […]