Compliance to be Made by Companies as per recent amendments

Article discusses for new Forms to be filed by Companies under Companies Act, 2013 wghich includes- A. ACTIVE (Active Company Tagging Identities and Verification), B. Form DPT-3 (RETURN OF DEPOSITS), C. Form 20A (Commencement of Business) and D. Form MSME-1.

A. ACTIVE (Active Company Tagging Identities and Verification)

MCA – E-FORM ACTIVE to be filed before 25.04.2019 for All Companies incorporated on or before 31.12.2017-Fine Rs.10000

Applicability:

Every company incorporated on or before the 31st December, 2017 shall file the particulars of the company and its registered office, in e-Form 22A ACTIVE (Active Company Tagging Identities and Verification) on or before 25.04.2019

***(However, Companies whose due Financial Statements or Annual Return or both are not filed, will not be able to file ACTIVE form { exception for under dispute Cos } )

Excluded Companies:

* Struck Off Cos

* Under Process of Striking off Cos

* Under Amalgamation Cos

* Under Liquidation Cos

* Dissloved Cos

Consequences of late / Non Filing:

1. Fee of 10,000/- if filed after 25/04/2019.

2. Marking of status of Company as “Active – Non Compliant” in MCA Master Data.

3. Filing of following eforms will be barred: –

• SH-7
• PAS-3
• DIR-12 (except cessation)
• INC-22
• INC-28 (for amalgamation /demerger)

***Also note that for filing this DIN of All directors should be in Active mode with MCA

B. Form DPT-3 (RETURN OF DEPOSITS)

MCA – E-FORM DPT-3 (i.e., Last Date 22.04.2019 ) within ninety days from the date of said publication of this notification(22.01.2019) along with fee:

Every Company other than Government company shall file onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause(c) of sub-rule 1 of rule 2 from the 01^st April, 2014 to publication of this notification (22.01.2019) in the official Gazette, as specified in Form DPT-3 within ninety(90) days i.e 22.04.2019 along with fee provided in the Companies (Registration Office and Fee) Rules, 2017.”

Excluded Companies:

* Government Companies.

Consequences of late / Non Filing:

2. File with additional fee and company shall in default in non filing the form.

Required Information:

1. Details of outstanding receipt of money or loan by a company Form 01.04.2014 to 22.01.2019.

**Form yet to be notify by the MCA21.

C. Form 20A (Commencement of Business)

MCA – E-FORM 20A :

AN OVERVIEW ONCOMPANIES (AMENDMENT) ORDINANCE, 2018

• Provision of declaration for commencement of business re-introduced. Name of company can be removed if not complied with.
• In many routine matters, ‘fine’ or ‘imprisonment’ converted into ‘Penalty’, which can be imposed directly by RD or ROC after issuing SCN.
• Removal of name if company if subscription amount not paid or company not carrying on business.

DECLARATION BEFORE COMMENCEMENT OF BUSINESS [New Section – 10A]

“A company incorporated after commencement of thecompanies (amendment) ordinance, 2018, i.e 02-11-2018 and having share capital shall not commence any business or exercise any borrowing powers unless-

(a) a declaration filed by a director within a period of one hundred and eighty days of the date of incorporation of the company in FORM INC- 20A and verified in such a manner as may be prescribed, with the registrar that every subscriber to the memorandum has paid the value of the shares agreed to  be taken by him on the date of making of such declaration; and

(b) The company has filed with the registrar a verification of its registered officeas provided in sub-section (2) of section 12in FORM INC-22.

Vide MCA notification dated 18/12/2018 Companies (Incorporation) fourth amendment Rules, 2018 has come into force wherein after rule 23, “rule 23A has been inserted” stating that the declaration to obtain certificate of commencement of business  is required to be filed in Form – INC-20A.

When to Apply?

Within 180 Days of Incorporation

Who needs to apply?

Companies having share capital which are Incorporated on or after 02/11/2018.

D. Form MSME-1

MCA – E-FORM MSME-1 (Form yet to notify by the MCA21) (i.e., Last Date 20.02.2019) within Thirty days from the date of said publication of this notification (22.01.2019) along with fee:

Every Company, having creditor/ vendor which are registered as a MSME registered creditor/vendor and who get supplies of goods or services from micro, small and medium enterprises and whose payments to micro, small and medium enterprise suppliers exceed (45) forty five days from the date of acceptance, as per the provisions of Section 9 of the Micro, Small and Medium Enterprises Development Act, 20O6, shall submit MSME-1 to MCA stating the amount of payment due and reasons of the delay.

Further, every such specified company, shall file in MSME – 1 details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days from the date of publication of this notification i.e 20-02-2019.

Note: Every such specified company shall file a return as per MSME-1, by 31st October for the period from April to September and by 30th April for the period from October to March.

In this regard, requested to ask your creditors/ vendors who’s payment exceeding 45 days to provide MSME registration certificate.

Consequences of late / Non Filing:

1. File with additional fee and company shall in default in non filing the form.

**Form yet to be notify by the MCA21.