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Company Regulations : CRL-1 | Download Free Templates
Team Lawyered
1. What is CRL-1?
The form is basically to restrict the number of layers in a company. Rule 2(4) of The Companies (restriction on the number of subsidiaries)Rules, 2017 provides that every company other than the company under sub-rule 2, existing on or before the commencement of these rules, which has a number of layers of subsidiaries in excess of the layers specified in sub-rule 1 shall file, with the registrar a return in FORM CRL1 disclosing the details specified therein, within a period of 150 days from the date of publication of these rules in the Official Gazette.
2. Why is it important?
Rule 2(5) of The Companies (restriction on a number of subsidiaries)Rules, 2017 provides that if any company violates any of these rules then the company and every officer of the company who is responsible for such non-compliance shall be punishable with a fine which may extend up to ten thousand rupees and where the contravention is a continuing one, extend up to one thousand per day after the first during which the contravention continues.
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Sophie Asveld
February 14, 2019
Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.
Sophie Asveld
February 14, 2019
Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.