The one month extension, till 15th November, would allow companies to file their pending annual documents without attracting higher fees or fine and other penal action
The Ministry of Corporate Affairs (MCA) has extended the Company Law Settlement Scheme by one month to 15 November 2014. This would allow companies to file their pending annual documents without attracting higher fees or fine and other penal action.
“We are happy that this one month period would be of immense help for the members and the Corporates in filing their belated documents. Also, the defaulting companies which avail the scheme ,and file all belated documents, the provisions related to disqualification of directors u/s 164 (2) (a) shall apply only for prospective defaults, if any, by such companies,” said K Raghu, President, Institute of Chartered Accountants of India (ICAI).
Earlier, the MCA has mandated companies to file documents under the Company Law Settlement Scheme till 15th October.
After considering requests received from various stakeholders including the ICAI, the MCA has decided to extend the Company Law Settlement Scheme up to 15 November 2014.
The stock price of Parab Infra shot up by 580%, to Rs171.25 on 1 October 2014, from Rs25 on 11 February 2013
Parab Infra was previously known as Pacheli Enteprises. This is not the first time the company has changed its name. It was earlier named Mandsaur Ferro Alloys. Up to 2011, Parab Infra was into manufacturing steel products. Its latest annual report shows that it is into trading and infrastructure. For FY13-14, Parab Infra reported total revenues of Rs1.11 crore from operations. Over the previous two financial years, viz., FY11-12 and FY12-13, it reported nil revenue. Yet, its stock price has shot up by 580%, to Rs171.25 on 1 October 2014, from Rs25 on 11 February 2013. It is also interesting that huge trading volumes over the past one month have brought the price down by over 50% from a 52-week high, of Rs351 on 13 August 2014, to a 52-week low of Rs155 on 25 September 2014. From August 2014 to now, the stock witnessed a burst of trading activity, averaging around 3,000 trades a day, up from around just 100-trades a day over the past year. This huge burst in volumes and massive price movements, as usual, did not wake up the regulators.
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