The Companies (Amendment) Act, 2017 has brought many changes in Companies Act, 2013 (Act) by extending many relaxations to all the companies and in particular the private companies. The Amendment Act also provide for many more disclosures to be made by the companies.
In June, 2018 the Ministry of Corporate Affairs has notified the provisions of new Section 90 of the Act regarding declaration of Significant Beneficial Ownership in the companies by the beneficiaries. The Rules regarding this have also been notified. There are serious consequences for non-compliance of the above provisions.
On 7th August, 2018 MCA has notified the provisions of new Section 42 of the Act regarding the Issue of Shares on Private Placement basis. The Rules regarding Private Placement have also been notified. Stringent penalties have been provided for non-compliance of these provisions.
On 2nd November, 2018, the Govt. has made amendments in Companies Act, 2013 vide Companies (Amendment) Ordinance, 2018. These amendments, besides other changes, have diluted the jurisdiction of NCLT in many such cases the powers shall now vest with MCA. The word Fine has been replace with Penalty in many sections, making these offences civil instead of criminal.
Besides the above, the Govt. is also contemplating many changes in the Companies Act, 2018.
All the above shall be discussed at the workshop.
Managing Partner, Madaan Law Offices, Advocates & Solicitors
Vice-President, Insolvency Practitioners Bar Association
G P Madaan, an alumnus of Shri Ram College of Commerce (DU), Law graduate from Campus Law Centre (DU), fellow member of ICSI, besides holding diplomas in Labour Laws and Corporate Laws & Management has vast practical experience of over 32 years in the Corporate Legal, Secretarial, Capital Markets, Financial and Managerial Disciplines. He is Managing Partner of Madaan Law Offices, Advocates & Solicitors. The firm specialises into Corporate Legal Advisory, Arbitration and Litigation (High Courts and NCLT).
He has been Chairman of Institute of Company Secretaries of India -Northern Region in 2005. Since 2012 he has been Co-Chairman of National Council for Mergers & Acquisitions of ASSOCHAM besides being member of the following:
(a) Member of ICSI Task Force on NCLT.
(b) Member of Monitoring Committee of ICSI Institute of Insolvency Professionals.
(c) Registered Insolvency Professional with Insolvency and Bankruptcy Board of India.
(d) Task Force of Society of Insolvency Practitioners of India (SIPI)
(e) Member-Secretarial Standards Board (SSB) of ICSI since 2012
(f) National Council for Corporate Laws, Corporate Governance and CSR of ASSOCHAM since 2011
(g) National Council for Capital Markets of ASSOCHAM since 2012
(h) National Council for Corporate Frauds of ASSOCHAM since 2014
(i) Corporate Affairs Committee of PHD CHAMBER OF COMMERCE AND INDUSTRY(PHDCCI)
(j) Capital Market Committee of PHDCCI
(k) Banking Reforms Committee of PHDCCI
(l) Area Advisory Board of Amity University
(m) Vice President (Company Law) & Executive Committee Member of Bhartiya Vitta Salahakar Samiti
He has written various articles on different subjects for professional magazines andweb portals. He has addressed many Conferences and Seminars organized by various Professional Bodies, Industry Associations, Chambers, Ministries, Universities,
Management Institutions and Regulators. He has also conducted and addressed many workshops on orientation of Boards and Senior Management on diversified subjects prominent being Companies Act, Corporate Governance, Board Practices &Procedures,
CSR, Independent Directors, LODR, Prevention of Sexual Harassment atWorkplace,NCLT and Insolvency & Bankruptcy Code, 2016.
Domains of expertise include the following practice areas and sectors:
Insolvency and Bankruptcy Laws
Securities and Capital Market Laws
Dispute Resolution – Litigation, Commercial Arbitration, Mediation andConciliation
Legal Drafting & Vetting
Real Estate – Investments, Exits, Due-Diligence and Advisory
PRESENTLY WORKING WITH:
PREVIOUSLY WORKED WITH:
Declogging the NCLT-replacement of the word FINE with PENALTY
Transfer of Jurisdiction from NCLT to Central Govt.
Re-introduction of Certificate of Commencement of Business
New grounds of disqualification of directors
Definition of the term Fraud widened
MD’s , CEO’s . CFO’s , Directors , Head of Legal & Compliance , Company Secretaries & others
|Hard copy, Soft Copy of Training, Presentation,
Certificate of Merit Attendance
|Non Residential Event||15000 INR + GST Per delegate|
*Additional GST of 18% is applicable.
Very useful & Informative conference on NCLT & IBC, got good insight of the laws & regulations
Very useful in understanding the practical & procedural aspect
Mr. Madaan was extremely good, informative and helpful
It was very informative and learning was to a next level
It was good and updated a lot about new legislation
I got the foundation
Very good conference, nicely delivered the thoughts in extremely simple language
To be precise I have developed my knowledge on the subject from 0% to 60%
Very useful in understanding the practical side of IBC implementation