Sunday, August 14

Academia

Educational Content Related to Indian Corporates, Directors, Regulators, and Financial Data Science

Hisab Ki Kitaab 6 Short Films by CSC eGov
Academia

Hisab Ki Kitaab 6 Short Films by CSC eGov

Union Minister of State for Finance and Corporate Affairs Shri Anurag Singh Thakur launches IEPFA’s 6 modules of short films titled “Hisab Ki Kitaab” “Hisaab ki kitab” is a series of 6 short films, developed by CSC eGov as a part of their training tool. There are 6 short films/ modules of 5 minutes duration each. The various modules highlights the importance of budget, saving, importance of Insurance schemes, various social security schemes of the government etc. The modules also interestingly portray the consequences of a common man falling prey to the schemes and how they should protect themselves from Ponzi schemes. These short films will be used by IEPFA and its partnering organisation for Investor Awareness Programs across the country. During the launch a trivia of all the 6 ...
Academia

How to check the social proof of your employers?

Social proof is based on the idea of normative social influence, which states that people will conform in order to be liked by, similar to, or accepted by the influencer (or society). It is a psychological phenomenon where we are influenced by and conform to the actions of others. Social proof in talent outreach takes the form of employee confirmation that the company culture is as dynamic and supportive as the recruiter says it is. Here are some of the ways to check the social proof of your employers:- 1) Glassdoor Using Glassdoor to read up on a company before accepting an offer of employment, or even before applying, has become commonplace for job seekers. The same research from Small Business Trends also found that 54% of people now say that they read company reviews online, ...
Academia

How to use the MCA website to verify your employer?

MCA regulates corporate affairs in India through the Companies Act, 1956, 2013 and other allied Acts, Bills and Rules. MCA also protects investors and offers many important services to stakeholders. This site is your gateway to all services, guidance, and other corporate affairs related information. MCA is a government portal containing details of all the companies incorporated in India. It has details of all the types of companies and Limited Liability Partnership (LLP).  One can check the Company registration number, type of company, date of incorporation, charges of a company, directors of the company, etc. from the site. Here is a process to verify legal registration status of any Indian Company from the most authentic Ministry of Corporate Affairs website for FREE. Go t...
Academia

How to check the EPF filing compliance status of your employer?

EPFO is one of the world’s largest social security organizations in terms of the volume of financial transactions undertaken and clientele. According to the Annual Report 2015-16, EPFO currently maintains 17.14 crore accounts pertaining to its members. It provides Universal Social Security Coverage on a mandatory basis by way of Provident Fund, Pension and Life Insurance for all workers of the country. The Board is assisted by the Employees’ PF Organization consisting of offices at 122 locations across the country. The EPFO is under the administrative control of the Ministry of Labour & Employment, Government of India. The Organization also has a well-equipped training set up where officers and employees of the Organization as well as Representatives of the Employers and Employees ...
5 Smart Ways to Use the Small Business Loan
Academia

5 Smart Ways to Use the Small Business Loan

You finally secured a small business loan - after months of preparation, formalities and waiting. This boost of cash can help your business in a number of ways. But you need to be smart about how you invest the money. 5 Smart Ways to Use the Small Business Loan Hire New Staff or Training Equipment If you are looking to expand your team, using the small business loan for hiring would be a good idea. If hiring a full-time team still proves to be expensive, consider outsourcing. Hiring remote workers or part-time staff can help you create a better workforce. If you are happy with the current staff, invest in creating better training programs. Purchase, Lease, or Repair Equipment Every business needs equipment – be it computers, construction equipment or even cooking equ...
Circular Trading in Companies: Everything You Need to Know
Academia

Circular Trading in Companies: Everything You Need to Know

Circular Trading has been ever existing in the Indian Market, but many tend to believe that it only takes place in the stock market. However, that is not the case, Circular Trading can also take place into companies or trading businesses. Before we further get into the depth and analysis of circular trading, let’s start with the basics and try to understand the following aspects. What is Circular Trading in Companies? Circular Trading is a type of scam that takes place when a company tries to create a flow of fake sales transaction with its collusioned parties by producing fake invoices. Now, we all wonder, why do they do that? What is the illegal advantage of it? Circular Trading: It’s illegal Advantages This type of scam basically creates a huge financial impact on companies...
What is Directors Disqualificat u/s 164(2)?
Academia

What is Directors Disqualificat u/s 164(2)?

InstaFinancials is the first company to give information of directors on Disqualified u/s 164(2) and Directors DIN Deactivation. What is Directors Disqualified u/s 164(2)? Ministry of Corporate Affairs has struck off over 3 Lakh companies due to non-filing of annual returns for 3 consecutive years during the year 2017 & 2018 and over 5 lakh directors who are associated with such defaulting and non-compliant companies have been disqualified under Section 164(2). The identification of list of such companies was 1st done in Sept 2017 & the companies that failed to file the returns for FY 2013-14, 2014-5 & 2015-16  has been struck off and the associated are disqualified under the said section of Companies act 2013. Since then, the MCA is scanning such non compliance on regular basi...
MCA Summons Directors & Officers of Usha Martin
Academia, Corporate, MCA, News

MCA Summons Directors & Officers of Usha Martin

Usha Martin Limited Directors and Officers are summoned to directly appear before the Assistant Registrar of Companies - West Bengal under the Ministry of Corporate Affairs (MCA). Summon is issued under section 207(3) of the Companies Act, 2013. As per the summon, notices were issued to Usha Martin u/s 206 of Companies Act and an inquiry was advised to be operated corresponding to the complaints by Basant Kumar Jhawar against Usha Martin Limited. There are five serious complaints registered against Usha Martin Limited in the year 2014 and the cases have still not been resolved and are under examination. The Directors & Officers summoned were Prashant Jhawar, Rajeev Jhawar, Brij Kishore Jhawar, Basant Kumar Jhawar, G N Bajpai and Partha Sarathi Bhattacharya. The country’s largest st...
Academia

Suit Filed Cases & Wilful Defaulters Explained

Reserve Bank of India(RBI) has entrusted TransUnion CIBIL to perform the role of collecting and circulating information on suit-filed accounts & list of defaulters. RBI has also directed banks, FIs & State Financial Corporations to submit a list of all the Suit Filed Accounts to TransUnion CIBIL as well as RBI. Summary: Suit Filed cases are petition or complaint, made by banks or notified financial institutions or state financial corporations, to a court that initiates a lawsuit Suit Filed cases are cases on companies who are wilful defaulters, and Reserve Bank of India (RBI) has classified “wilful” and “non-wilful” defaulters. It is categorized by RBI for those who deliberately use the banking system to not pay back dues from those who are genuinely fallen on debt trap ...
Academia, Corporate

Consequences of Not Complying with DIR-3 KYC Mandate

Ministry of Corporate Affairs had mandated Directors of all companies (Private Limited, Public Limited, OPC), and designated Partners in Limited Liability Partnerships (LLP), including both active and disqualified directors, to submit their KYC details by furnishing the DIR 3 KYC e-Form. This initiative taken by the Ministry of Corporate Affairs will have a great impact and help to curb fake and shell companies. These are the companies suspected to have conduits for illicit money laundering. MCA had told that there are about 50 Lakh DINs issued till date and out of which there are around 33 Lakh Active Directors in India who are mandated to comply with this KYC mandate. If any director fails to submit their DIR 3 KYC form on or before the due date the DIN number of such director will be ...