Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

Personal commitment supported by experience and grit.

We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Knowledge-sharing is intrinsic to equity and inclusivity.

This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

Relevance is critical to growth. It necessitates a firm that is dynamic and responsive.

Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Sep 30, 2020

Extension of Timelines for Companies Act Compliances

The MCA has, through Circulars dated September 28 and 29, 2020, extended the following relaxations introduced with respect to compliance with requirements under Companies Act and the rules thereunder, in light of the ongoing COVID-19 pandemic:

i.     The validity of the LLP Settlement Scheme, 2020 and Companies Fresh Start Scheme, 2020 which granted a one time opportunity to LLPs and defaulting companies, respectively, to make delayed filings without penalty has been extended from September 30, 2020 to December 31, 2020;

ii.  The clarifications and guidelines introduced by MCA in April on passing of resolutions by companies holding extra-ordinary general meetings through video conferencing and other audio visual means or passing of certain items through postal ballot without convening general meetings, are now valid until December 31, 2020, instead of September 30, 2020;

iii.  Deadlines for the following actions has been further extended from September 30, 2020 to December 31, 2020: (a) for companies accepting deposits, to create a deposit repayment reserve of 20% of deposits maturing during the financial year 2020-21; and (b) to invest or deposit 15% of the amount of the debentures maturing during a particular year in specified instruments.

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DISCLAIMER

These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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