Notification No. GSR 89(E) [F. No. 5/23/2002-CL.V], dated 5-2-2003. In exercise of the powers conferred by clause (b) of sub-section (1) of section 642, read with sub-section (1B) of section 314 of the Companies Act, 1956, the Central Government hereby make the following rules, namely:— 1. Short title and commencement.— (1) These rules may be called Director’s Relatives (Office or Place of Profit) Rules, 2003. (2) They shall come into force on the date of their publication in the Official Gazette.

General Circular No. 12/2011- Ministry has received certain proposals for simplification in the procedures of Easy Exit Scheme (EES), 2011. The proposals have been examined in the Ministry and the revised simplified procedures for dealing with applications under Easy Exit Scheme (EES), 2011 are enclosed herewith.

General Circular No.11/2011- PAN Mandatory for obtaining DIN, Those Already having too need to Submit PAN by 31st May, 2011. The Ministry of Corporate Affairs has already simplified the process for obtaining DIN online, if the DIN-1 eform has been digitally signed by the practicing Chartered Accountant, Company Secretary or Cost Accountant, verifying the particulars of the applicants given in the application. However, in other cases, where the DIN form is digitally singed by the applicant only, the applications are being disposed off with in one or two days after examination by the Central Government.

NOTIFICATION [F.NO.5/18/2005-C.L.V], DATED 6-4-2011- In the Companies Regulations, 1956, in regulation 2, for clause (d), the following clause shall be substituted, namely:- “(d) ” Regional Director” means the person appointed by the Central Government in the Ministry of Corporate Affairs as a Regional Director for the respective regions as under:-

NOTIFICATION [F.NO. 17/75/2011-C.L.V], DATED 6-4-2011 – In the Director’s Relatives (Office or Place of Profit) Rules, 2003, (hereinafter referred to as the said rules), in rule 3, for the figures “50,000″, the figures “2,50,000″ shall be substituted. 3. In the said rules, for the figures “50,000″, the figures “2,50,000″ shall be substituted. 4. In the said rules, for rule 7, the following rule shall be substituted, namely:— The selection and appointment of a relative of a director holding office or place of profit in the company shall be approved by adopting the same procedure applicable to non-relatives :

General Circular No. 09/2011, Dated the 31.03.2011- It has been decided by the Ministry of Corporate Affairs to mandate certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy. The Financial Statements required to be filed in XBRL format would be based upon the Taxonomy on XBRL developed for the existing Schedule VI, as per the existing, (non converged) Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006. The said Taxonomy is being hosted on the website of the Ministry at www.mca.gov.in shortly. The Frequently Asked Questions ( FAQs ) about XBRL have been framed by the Ministry and they are being annexed as Annexure I with this circular for the information and easy understanding of the stakeholders.

Whereas the Central Government in consultation with the National Advisory Committee on Accounting Standards framed the Companies (Accounting Standards), Rules, 2006 vide G.S.R. No. 739(E), dated the 7th December, 2006 and was subsequently amended vide notification numbering (i) G.S.R. 212(E), dated the 27th March, 2008 (ii) G.S.R. 225(E), dated the 31st March, 2009, in exercise of the powers conferred by clause (a) of sub-section (1) of section 642, read with sub-section (1) of section 210A and sub-section (3C) of section 211 of the Companies Act, 1956 (1 of 1956); Now, therefore, in exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby replace the existing Schedule VI to the said Act by the following Schedule VI, namely :-

The notification shall come into force for the Balance Sheet and Profit and Loss Account to be prepared for the financial year commencing on or after 1.4.2011.

Prosecution of Directors – General Circular No. 08/2011, Dated the 25th March, 2011. Penal actions for defaults committed under the Companies Act, 1956 are either to be taken against an “officer in default” or a “director(s)” or “persons” as provided in the relevant penal provisions of the Act. Section 5 of the Companies Act, 1956, defines officer in default and the Directors are also liable for compliance of various provisions of the Act.

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION  New Delhi, the 26th March, 2011 G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 642 read with section 610E of the Companies Act, 1956 (1 of 1956 ), the Central Government hereby makes the following rules further to amend the Companies [...]