India – Corporate & SCRA Updates.

FAQs on Corporate Social Responsibility

The Ministry of Corporate Affairs (‘MCA’), by its Circular dated August 25, 2021, has issued clarifications on several matters related to corporate social responsibility (‘CSR’)…

Exemption for Foreign Companies from Certain Matters in International Financial Services Centres

The MCA has, by a Notification dated August 5, 2021, exempted the following categories of companies from the provisions of Sections 387 to 392 of Companies Act, 2013 (‘Companies Act’) insofar as they relate to the offering…

Power of Central Government to Change Name of Company

The MCA, by its Notification dated July 22, 2021, notified Section 4 of the Companies (Amendment) Act, 2020, which amends Section 16(1)(b) and 16(3) of the Companies Act. The amended provisions reduce the time period from six months to three months…

NCLT Ruling Paves Way for Flexible Capital Reorganization through Scheme of Arrangement

The National Company Law Tribunal (‘NCLT’), Mumbai Bench in a recent ruling dated September 20, 2021, has sanctioned a scheme of arrangement allowing an unlisted company to reorganize its share capital…