Akansha Rathi And Associates - ARACS

Timely compliance should be the fundamental essence of any compliance advisory firm. At Akansha Rathi And Associates (ARACS), it is our greatest deliverable.

This compliance calendar for FY 2024-25 covers Companies Act, RBI-FDI/ODI filings and PoSH compliances.

In this edition, we are celebrating our 50th edition of the monthly newsletter covering the latest updates in Corporate, SEBI, IBC and PoSH law. This edition has an additional bonus of compliance calendar for FY 2024-25. Many thanks and heartfelt gratitude for taking out time to read this update.
https://aracs.in/wp-content/uploads/2024/04/March-2024-Newsletter.pdf

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In this edition, we are celebrating our 50th edition of the monthly newsletter covering the latest updates in Corporate, SEBI, IBC and PoSH law. This edition has an additional bonus of compliance calendar for FY 2024-25. Many thanks and heartfelt gratitude for taking out time to read this update.

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Wishing you a Very Happy Holi!

As we celebrate Nari Shakti today, proud to share that women centric ARACS team's DNA remains focused on top notch compliance services and ease of accessibility for our clients.

Vacancy at Akansha Rathi & Associates, Practising Company Secretary Firm located in Belapur CBD, Navi Mumbai for 4 CS Trainees.

Requirements:
1. Ensuring Compliances under Corporate & Securities Laws.
2. Command over drafting & good communication skills.

Role will involve:
1. Secretarial Audit
2. Corporate Governance
3. Secretarial records handling
4. ROC Compliances / Listed company compliances
5. NCLT & IBC Matters
6. Drafting of legal agreements & various other secretarial work

Interested candidates can share their resume at [email protected] (Preference will be given to professional passed candidates).

Here is our regulatory roundup of February 2024 on Company Law, SEBI, Insolvency and other ancillary laws with due dates for March 2024.

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Here is our regulatory roundup of January 2024 on Company Law, SEBI, FEMA and other ancillary laws with due dates for February

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Vacancy at Akansha Rathi & Associates, Practising Company Secretary Firm located in Belapur CBD, Navi Mumbai for 2 CS Trainees.
Requirements:
1. Ensuring Compliances under Corporate & Securities Laws.
2. Command over drafting & good communication skills.
Role will involve:
1. Secretarial Audit
2. Corporate Governance
3. Secretarial records handling
4. ROC Compliances / Listed company compliances
5. NCLT & IBC Matters
6. Drafting of legal agreements & various other secretarial work
Interested candidates can share their resume at [email protected] (Preference will be given to professional passed candidates)

Happy New Year 2024 !!

Here is link to our regulatory roundup of November 2023 on SEBI and other ancillary laws with due dates for December 2023.

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Happy Women’s Entrepreneurship Day

Here is link to our regulatory roundup of October 2023 on SEBI and other ancillary laws with due dates for November 2023.

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Major revamp of Companies Act enhancing accountability of ultimate beneficial interest in shares and significant move towards digitization making the demat of shares mandatory even for private companies.

Institute of Company Secretaries of India Company Secretary (ICSI)

Here is link to our regulatory roundup of September 2023 on SEBI and other ancillary laws with due dates for October 2023.

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Differential voting right (DVRs) shares are a separate class of shares carved out for companies who want flexibility in keeping voting or dividend rights. It is widespread in startups as it allows founders to raise capital retaining their management right and control over the company. Similarly in a scenario where an Investor wants to exercise more voting or have higher dividend rights, DVRs can be issued.

DIR 3 KYC is due by 30th September 2023 for all persons having approved DIN as on 31st March 2023. You cannot form a new company with deactivated DIN Number nor be appointed as Director or resign as Director till your DIN Number is deactivated.

OTP is being received for foreign Directors of US, UK and Saudi Countries as per MCA update.

Here is link to our regulatory roundup of August 2023 on SEBI and other ancillary laws with due dates for September 2023.

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🎯 𝐑𝐞𝐥𝐚𝐱𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐟𝐞𝐞𝐬 for LLPs for
-filing of LLP Agreement/changes in it with event date 𝘢𝘧𝘵𝘦𝘳 1𝘴𝘵 𝘑𝘢𝘯𝘶𝘢𝘳𝘺 2021
-change in Partners dated with event date 𝘢𝘧𝘵𝘦𝘳 1𝘴𝘵 𝘑𝘢𝘯𝘶𝘢𝘳𝘺 2021
and
-annual return for 𝘍𝘠 2022 & 2023.

For due date prior to 1st January 2021, penalty will be 2 or 4 times of normal fees for small and other LLPs respectively,

🔮 𝐒𝐦𝐚𝐥𝐥 𝐋𝐋𝐏𝐬 are those whose contribution does not exceed 25 lacs and turnover does not exceed 40 lacs.

💰 Tax exemption is available to "Registered Startups" which could be company or a limited liability partnership (“LLP”) or registered partnership firm meeting the below criteria:
(a) incorporated between 1st day of April 2016 and 1st day of April 2024.
(b) the total turnover is upto Rs.100 Crores in the previous year
(c) it holds a certificate of eligible business from the Inter-Ministerial Board of Certification.
(d) not formed by the transfer of a previously used machinery or plant

Due date for annual filing of audited accounts and annual return for each FY of 'One person companies (OPC)', is earlier than for private limited companies as they are not required to hold shareholders meeting.

🎯 Due date for submission of 𝐜𝐨𝐬𝐭 𝐚𝐮𝐝𝐢𝐭 𝐫𝐞𝐩𝐨𝐫𝐭 is 30th September which needs to be filed with MCA within next 30 days.

♦ Cost audit records maintenance & cost audit are two separate compliances under with different thresholds.

🦄 Are you a 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐬𝐭𝐚𝐫𝐭𝐮𝐩 under

The process is 𝘤𝘰𝘮𝘱𝘭𝘦𝘵𝘦𝘭𝘺 𝘰𝘯𝘭𝘪𝘯𝘦 𝘸𝘪𝘵𝘩 𝘯𝘰 𝘧𝘦𝘦𝘴 and what you require is information about your product or service with trademark/logo, certificate of incorporation, authority letter.

✨ There are various incentives for being registered - rebate on government fees, self-certification on labour laws and many others. Once issued, it is valid for 10 years.

As of February 2023, DPIIT has recognized 92,683 entitles as startups.