MINISTRY OF CORPORATE AFFAIRS

IMPORTANT POLICY DECISIONS TAKEN AND MAJOR ACHIEVEMENTS DURING THE MONTH OF MAY, 2017

(1) Circulars:-

This Ministry vide Circular no. 04/2017 dated 16.05.2017 has issued a clarification that applications rejected by the Regional Director under Section 22(1) (ii) (b) of Companies Act, 1956 on the ground of expiry of limitation period cannot be reconsidered on a fresh application made under Section 16(1)(a) of the Companies Act, 2013.

(2) Notifications:-

A Notification w.r.t amendment of the Companies (Acceptance of Deposits) Amendments Rules, 2017 has been issued. Through this amendment exemption from the term “Deposit” has been given to “Infrastructure Investment Trusts“; and also eligible companies have been allowed to raise deposit up to 31.03.2018, without the requirement of deposit insurance. (GSR 454(E), dated 11.05.2017).

(3) Ministry’s website has been made GIGW complaint and Website Quality Certificate has accordingly been issued by STQC Website Quality Certification

(4) During the month of May 2017, the MCA21 system was subjected to “Wanna Cry” Ransomware attack. The attack was in the nature of a “Zero day attack” and was first noticed on 07 May 2017. This attack was presumably one of the first such attacks on a Government of India portal. While some document related Front Office and Back Office services were initially affected but due to quick action by our teams all services been restored on 14th May 2017 without any loss.

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Category : Company Law (3348)
Type : News (12471)
Tags : Companies Act (1817) Companies Act 2013 (1591)

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