The Universal crisis caused by COVID-19 has led to revolutionary changes in the way the restaurant industry operates. With restaurants and hotels being shut, delivery kitchens, ghost restaurants or cloud kitchens are increasingly becoming more relevant. Even five-star chains across the country are counting on delivery operations to survive the crisis. The Oberoi Bengaluru, the Taj Group of Hotels, The Park Hotel and many other top chains are delivering their most popular dishes to customers’ doorsteps in the wake of the ongoing nationwide lockdown. …


By Shubham Katyal

A day after Finance Minister Nirmala Sitharaman unveiled a Rs 1.7 lakh crore economic welfare package for the poor in the backdrop of the coronavius pandemic, the Reserve Bank of India (RBI) Governor Shaktikanta Das has announced a press conference at 10 am on March 27.

Beginning March 25, for a period of three weeks, India is under a complete lock-down to curb the spread of the COVID-19. This will have an impact across key economic segments including manufacturing, services, construction and tourism. On March 26, the government announced a mix of measures including direct cash transfers…


Highlights and Boosters

While the global economy is battling with strong headwinds, India’s economy is seeing a robust growth and is on the path to emerge out as one of the fastest growing economies in the world.

A day after ‘Unfettered Sky Blue’ Economic Survey, breaking away from tradition, Finance Minister Nirmala Sitharaman today presented Modi government’s first Budget in the second term in the form of traditional (account ledger).

After a pre-elections populous Budget in February, Modi government today presented the Union Budget to boost infrastructure and foreign investment at a time when economy is showing signs…


by Shubham Katyal

“The most important thing in illness is never to lose heart.” — Nikolai Lenin

Imagine you’re going about your day, minding your own business, when someone sneaks up behind you…

You feel something press up against the back of your head, as someone whispers in your ear.

“I’m going to press a bit harder, every so often, just…


MCA

Amendment №1: Filing of DIR-3 KYC required on an annual basis:

It has been clarified by the MCA on 13th April, 2019 that DIN holders are required to file the DIR-3 KYC Form every year, so that they are aware of and confirm the data and information as available in the MCA21 system.

MCA has mentioned that the updated version of form is under process so that filings can be done by DIN holders in a simple and user friendly manner. …


What is a startup?

A startup is a small business started with the objective to solve a problem. These are the companies which are generally operated by the founders or a single person. These companies are generally offering those services which the founders think are not available or are available in an inferior quality. Startups provide jobs opportunities to the people which helps in the economic development of the society.

Recognition of a startup shall be up to 7 years starting from the date of incorporation. Secondly, a startup must not exceed the threshold of 25 crores. …


Mergers & Acquisitions — The Global Perspective

Mergers and acquisitions are used for improving the competitiveness of companies and gaining an advantage over other firms by gaining greater market share, broadening the portfolio to reduce business risk, entering new markets and geographic spread, and capitalizing on economies of scale. Corporate worldwide have been aggressively building new competencies and capabilities and going in for markets based diversification leading to increasing in a number of mergers and acquisitions globally.

Closing the deal is just the beginning. The majority of acquisitions fail to meet pre-deal expectations, and the real challenge for any company…


This Standard is issued by the Council of the Institute of Company Secretaries of India and may be called the Secretarial Standard-4 (SS-4) on “Report of the Board of Directors”.

The Companies Act, 2013, requires the Board of Directors of every company to attach its report to the financial statements to be laid before the members at the annual general meeting.

The Board’s Report is an…


Dear Professional Colleagues,

IT’S TIME FOR COMPANIES TO GET READY FOR ROC FILING!

FORMS ADT-1, AOC-4, MGT-7 HAVE CAME INTO EXISTENCE AND ALL ARE CONFUSED FOR THEIR ATTACHMENTS OR FOR FILING OF FORMS. HERE IS ANNUAL FILING CHECKLIST OF ROC FOR COMPANIES.

Annual filling Checklist for ROC

LIST OF FORMS FOR ANNUAL FILLING TO ROC

1) ADT-1 (Appointment of Auditors)

2) AOC-4 (Balance Sheet and Profit & Loss Account)

3) MGT-7 (Annual Return)

CHECKLIST FOR ADT-1:

1. AUDITORS DETAIL

a) Name of the auditor or auditor’s firm

b) Income tax permanent account number of auditor or auditor’s firm

c) Auditor’s…


Dear Professional Colleagues,

As per provision under Companies Act, 2013, Chapter III, Part II of the Act, 2013 deals exclusively with private placements. Section 42 of the Act, 2013 defines ‘private placement’ which can be said in consonance with the interpretation of the Supreme Court as “any offer of securities or invitation to subscribe securities to a select group of persons by a company (other than by way of public offer) through issue of a private placement offer letter and which satisfies the conditions specified in this section including the condition that he offer or invitation is made to not…

Shubham Katyal

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