BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013.

Detailed explanation-2: -According to MCA Notification GSR 207(E) dated 24th March 2021, the amendment to Schedule III of the Companies Act, 2013 mandates companies to round their financial statements off according to their total income.

Detailed explanation-3: -On August 18, 2022, the Ministry of Corporate Affairs (MCA) published the Companies (Incorporation) Third Amendment Rules, 2022, which is an updation in the Companies (Incorporation) Rules, 2014. The MCA has published a new Rule 25B, which pertains to the physical verification of the company’s registered office.

Detailed explanation-4: -One Person Company (OPC) is a new Concept introduced under the Companies Act, 2013. Its actually a subset of a private limited Company but has only one shareholder and requires only one Director instead of minimum two directors and shareholders required for a traditional private limited Company.