May 12, 2017

Companies to Disclose Demonetisation Transaction in Balance Sheet and Audit Report

<p style="text-align: justify;"><strong>Demonetisation – COMPANIES ACT, 2013 – AMENDMENT IN SCHEDULE III</strong></p> <p style="text-align: justify;"><strong>NOTIFICATION NO. GSR 308(E) [F.NO.17/62/2015-CL-V-(VOL.I)], DATED 30-3-2017</strong></p> <p style="text-align: justify;">In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments to Schedule III of the said Act with effect from the date of publication of this notification in the Official Gazette, namely:—</p> <o.....

Aug 18, 2018

Updation of KYC of Directors

The Ministry of Corporate affairs vide Companies (Appointment and Qualification of Directors) dated 05/07/2018 has notified format of E-form DIR-3 KYC under new Rule 12A , which states as follows:  “Every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall, submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year.”  Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March, 2018, shall submit e-.....

Sep 16, 2018

Relaxation of additional fees and extension of last date of filings of Form BEN-2

A beneficial owner shall file a declaration disclosing his beneficial interest in Form No. BEN-2 with the company, within thirty days after acquiring such beneficial interest in the shares of the company. The Ministry of Corporate affairs vide Circular No. 07/2018 dated 06/09/2018 stated the following :- Time limit for filing the BEN-2 form would be 30 days from the date of deployment of BEN-2 e-form on the MCA-21 portal and no additional fee shall be levied if the same is filed within 30 days from the date of deployment of the said e-form. alCircular.....

Oct 16, 2018

Amendments made in Schedule III(Preparation of Financial Statements) of Companies Act, 2013

<!-- wp:paragraph --> <p> The Ministry of Corporate affairs vide Notification dated 11/10/2018 has made amendments in Schedule III of the said Act. Key changes are as follows:</p> <!-- /wp:paragraph --> <!-- wp:list {"ordered":true} --> <ol><li>Loan receivables have been classified further. </li><li>Description of purpose of each reserve has been specified. </li><li>Names of headings of Fixed Assets and Securities Premium Reserve have been modified. </li><li>MSME Disclosures and further classification of Receivables &amp; Payables in IND AS Compliant Financials. </li><li>Division III has been.....

Oct 16, 2018

Relaxation of additional fees and extension of last date of in filing of forms MGT-7 (Annual Return) and Aoc-4 (Financial statement) under the Companies Act, 2013- State of Kerala

<!-- wp:paragraph --> <p>The Ministry of Corporate affairs vide Circular No. 09/2018 dated 5th October 2018 has decided to relax the additional fees payable by companies having registered office in the State of Kerala on e-forms AOC-4, AOC (CFS) AOC-4 XBRL and e-Form MGT-7 upto 31.12.2018, wherever additional fee is applicable.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><br></p> <!-- /wp:paragraph -->.....

Feb 21, 2020

Changes in Forms to be filed with MCA for Incorporation of company, Registration with EPFO and others

<!-- wp:paragraph --> <p>MCA vide Notification dated 6<sup>th </sup>February 2020 issued Companies incorporation and amendment rules, 2020. MCA has introduced a new web service for Reservation of Name called SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus: INC-32) available at <a href=""><strong></strong></a> for further simplification of incorporation of companies.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>There is an existing form called AGILE for registration at Employees’ Provident Fund Organisation (EPFO) is replace.....

Feb 21, 2020

Changes in requirements to appoint a Whole-time Company Secretary for certain companies and applicability of Secretarial Audit.

<!-- wp:paragraph --> <p>From the Companies  (Appointment and Remuneration) Rules, 2014:</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>Rule 8A which specifies the requirement of a whole-time company secretary for certain companies has been amended.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>Private companies having paid-up share capital of >/= Rs. 10 Crores shall have a Whole-time Company secretary.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>This amendment is applicable in respect of Financial years commencing on or after 1<sup>st </sup>April 2020.</p> <!-- /wp:para.....

Feb 21, 2020

Applicability of Section 460 of Companies Act, 2013 to Limited liability Partnerships

<!-- wp:paragraph --> <p>From The Gazette of India it has been notified that Section 460 of Companies Act, 2013 shall be applicable to Limited Liability partnerships (LLPs). </p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>Section 460 is about the condonation of delay in certain cases can be accepted by the Department if the reasons for such delay are provided in writing to the adjudicating Authority which does not lead to the payment of penalty (can be called as a waiver of such penalties for genuine delays in Filing of required forms). </p> <!-- /wp:paragraph --> <!-- wp:paragraph --> .....

Oct 17, 2020

Filing of forms to the registrar by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016).

<!-- wp:paragraph --> <p>MCA vide General Circular No. dated 6<sup>th</sup> Marche 2020 issued clarifications for statutory compliances in respect of companies under corporate Insolvency Resolution Process (CIRP) which are as below,</p> <!-- /wp:paragraph --> <!-- wp:list {"ordered":true} --> <ol><li>The IRP/RP/Liquidator would have to first file the NCLT order approving him as the IRP/ RP/ Liquidator in Form INC-28.</li><li>The Master Data for change in the status of the company from "Active"/ "inactive" to CIRP/ Liquidation or CIRP/Liquidation to "Active" shall be effected on the basis of F.....

Oct 17, 2020

Clarification on the spending of Corporate Social Responsibility (CSR) Funds for COVID-19

<!-- wp:paragraph --> <p>MCA vide General Circular No. 10/2020 dated 23<sup>rd</sup> March 2020 is hereby clarified that spending of CSR funds for COVID-19 is eligible CSR Activity. </p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>Funds may be spent on various activities related to COVID-19 under item nos. (i) and (xii) of Schedule VII relating to the promotion of health care, including preventive health care and sanitation, and, disaster management.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href="">https://comp.....

Oct 17, 2020

Special measure under Companies Act, 2013 and Limited Liability Partnership Act, 2008 in view of COVID-19 breakout

<!-- wp:paragraph --> <p>MCA vide General Circular No. 11/2020 dated 24<sup>th</sup> March 2020, it has been decided to reduce their compliance burden and other risks.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>Reliefs given were as follows:</p> <!-- /wp:paragraph --> <!-- wp:list {"ordered":true} --> <ol><li>No additional fees shall be charged for late filing during a moratorium period from 01st April to 30th September 2020, in respect of any document, return, statement, etc., required to be filed in the MCA-21 Registry, irrespective of its due date.</li><li>The mandatory requireme.....

Oct 17, 2020

Clarification on contribution to PM-CARES Funds as eligible CSR Activity

<!-- wp:paragraph --> <p>MCA vide office memorandum F No. CSR-05/1/2020-CSR-MCA dated 28<sup>th</sup> March 2020, has been clarified that any contribution made to the PM CARES Fund shall qualify as CSR expenditure under the Companies Act 2013. </p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-- /wp:paragraph -->.....

Oct 17, 2020

Relaxation of Additional fees and extension of last date of filing CRA-4 (form for filing of cost Audit Report) for FY 2019-20 under the Companies Acr, 2019

<!-- wp:paragraph --> <p>MCA vide General Cirular No. 29/2020 dated 10<sup>th</sup> September 2020, In view of the disruption caused due to the pandemic, it has been that if cost audit report for the FY 2019-20 by the cost auditor to the Board of directors of the companies shall be submitted by November 30, 2020. Consequently, the Cost Audit report for the financial year ended 31<sup>st</sup> March, 2020 shall be filed in e-form with CRA-04 with in 30 days from the date of receipt of the copy of the cost audit report by the company. However, if the company has availed extension of time for ho.....

Oct 17, 2020

General order for extension of time to hold AGM for F.Y. 2019-20

<!-- wp:paragraph --> <p>MCA vide Press Release Dated, 08<sup>th</sup> September 2020, extending the timeline for holding Annual General Meeting till December 31st from September 30th due to COVID-19. </p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-- /wp:paragraph -->.....

Jan 23, 2021

Deferring of Applicability of CARO(Companies Auditor’s Report Order), 2020

<!-- wp:paragraph --> <p>MCA wide Notification No. S.O. 4588 has further deferred the applicability of CARO(Companies Auditor’s Report Order), 2020 to FY 2021-22.<a href=""></a></p> <!-- /wp:paragraph -->.....

Jan 23, 2021

Clarification on passing Ordinary and Special Resolutions by Companies

<!-- wp:paragraph --> <p>MCA wide Circular No. 39/2020 has clarified that it has been decided to allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot in accordance with the framework provided in the aforesaid Circulars upto 30th June, 2021.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-- /wp:paragraph -->.....

Jan 23, 2021

Extension of Period of Suspension of insolvency Proceedings

<!-- wp:paragraph --> <p>MCA vide Notification No. 30/33/2020 has extended the period of suspension of insolvency proceedings.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>IBBI stated that no application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed, for any default arising on or after 25th March, 2020. Now, this period has been extended for further period of three months from 25<sup>th</sup> December, 2020</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href="

Mar 19, 2021

Relaxation on Levy of Additional fees in filing of e-form AOC-4

<!-- wp:paragraph --> <p>MCA wide Circular No. 04/2021 has decided not to levy additional fees upto 15th February, 2021 for the filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL and AOC-4 Non-XBRL in respect of the financial year ended 31st March, 2020. During the said period, only normal fees shall be payable for the filing of the e-forms.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-- /wp:paragraph -->.....

Mar 19, 2021

Online Application to the Board under Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019.

<!-- wp:paragraph --> <p>IBBI vide Circular No. IBBI/II/39/2021 has made available the facility on its website for providing a copy of application to the Board by the applicant under Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-- /wp:parag.....

Mar 19, 2021

Filing of list of stakeholders under clause (d) of sub-regulation (5) of regulation 31 of the IBBI (Liquidation Process) Regulations, 2016

<!-- wp:paragraph --> <p>IBBI vide Circular No. IBBI/LIQ/40/2021 requires the liquidator to file the list of stakeholders of the respective corporate debtor under liquidation on the electronic platform of the Board for dissemination on its website. The purpose of this requirement is to improve transparency and enable stakeholders to ascertain the details of their claims at a central platform.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href="">