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E-voting rules change - A new mess a new day ! Metamorphosis of Company law rules that went bad, changed a caterpillar into an ugly frog. Posted by:  www.onlinelawsolutions.com                   Subscribe Email Updates CS Nidhi Bothra nidhi@vinodkothari.com CS Vinita Nair Vinita@vinodkothari.com Vinod Kothari & Company Corporate Law Services Group corplaw@vinodkothari.com Copyright: This write up is the property of Vinod Kothari & Company and no part of it can be copied, reproduced or distributed in any manner. The website (www.onlinelawsolutions.com) has published the same on behalf of the author as requested. Disclaimer: This write up is intended to initiate academic debate on a pertinent question. It is not intended to be a professional advice and should not be relied upon for real life facts. Under the erstwhile (read outdated) system of holding general meetings where the resolutions were put to vote by

Clarification with regard to section 185 and 186 of the Companies Act 2013 - loans and advances to employees By: www.onlinelawsolutions.com Subscribe our updates on tax/law: Click Here The Ministry of Corporate Affairs has issued the captioned circular exempting application of Section 186 for Loans & Advances made to Employees (other than MD / WTD) provided the same are given as per the conditions of service or remuneration policy.  This is a welcome move which will allow subsidized loans to employees but it also raises following doubts- Subsidized loans will be available to employees but will it not be available to MD /     WTD? Pursuant to this circular, monetary ceiling u/s 186(2) need not be reckoned for  employee loans but will it need to be reckoned for MD / WTD loans? Read Circular at: http://www.mca.gov.in/ Ministry/pdf/Circular_04_ 10032015.pdf

MCA introduces new eForm PAS-6 w.e.f. March 11, 2015 without amending the rules By: www.onlinelawsolutions.com Subscribe our updates on tax/law: Click Here E-Form PAS-6 is required to be filed pursuant to Section 42 of the Companies Act, 2013 and rule 14(3) of Companies (Prospectus and Allotment of Securities) Rules, 2014 which are reproduced for your reference "Rule 14(3) provides that a copy of such record along with the private placement offer letter in Form PAS-4 shall be filed with the Registrar" However, instruction kit to the eForm modified the wordings and are reproduced as below: " The company shall maintain a complete record of private placement offers in Form PAS-5 : Provided a copy of such record along with the private placement offer letter in Form PAS-6 shall be filed with the Registrar (ROC)" So Rule neither provides for the filing of eForm PAS-6 nor draft of eForm. However, as per latest requirement and considering the help