Follow Us :

In this editorial, author shall discuss the latest amendment made by Ministry of Corporate Affairs (MCA) in respect to Incorporation of Company with person/ company belong to country sharing land border with India like China, Pakistan, Bhutan, Myanmar, Nepal and Bangladesh:

MCA has notified Companies (Incorporation) Second Amendment Rules, 2022 w.e.f. May 20, 2022.

 These amendments have been made by :

i. Form 9 in Companies (Incorporation) Second Amendment Rules, 2022 has been substituted with new formats

ii. Amendment has been made in DIR-2 (Consent of Directors).

A. AMENDMENT IN FORMAT OF INC-9:

Declaration by First Subscriber:

W.e.f. June 01, 2022 if you are incorporating any Company in India you are required to use the “New INC-9” form. In the new form following clauses has been added:

√ I am required to obtain the Government Approval under the Foreign Exchange Management (Non-Debt Instrument) Rules, 2019 prior to subscription of shares and the same has been obtained and is enclosed herewith; Or

√ I am not required to obtain the Government Approval under the Foreign Exchange Management (Non-Debt Instrument) Rules, 2019 prior to subscription of shares

B. AMENDMENT IN FORMAT OF DIR-2:

Declaration by First Director:

W.e.f. June 01, 2022 if you are incorporating any Company in India you are required to use the “New DIR-2” form. In the new form following clauses has been added:

I further declare that,

√ I am not required to obtain the security clearance from the Ministry of Home Affairs, Government of India before seeking appointment as director; or

√ I am required to obtain the security clearance from the Ministry of Home Affairs, Government of India before seeking appointment as director and the same has been obtained and is attached.

C. AMENDMENT IN FORMAT OF DIR-3: If Applying for DIN

Declaration While Applying DIN:

√ I am not required to obtain the security clearance from the Ministry of Home Affairs, Government of India under sub-rule (1) of rule 10 before applying for director identification number; or

√ I am required to obtain the security clearance from the Ministry of Home Affairs, Government of India under sub-rule (1) of rule 10 before applying for director identification number and the same has been obtained and is attached.

Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com).

Author Bio

CS Divesh Goyal is Fellow Member of the Institute of Companies Secretaries and Practicing Company Secretary in Delhi and Steering Voice in the Corporate World. He is a competent professional having enrich post qualification experience of a decade with expertise in Corporate Law, FEMA, IBC, SEBI, View Full Profile

My Published Posts

Does Onus For Non-Compliance Rest Solely With Company Secretary? Stamp Duty on Transfer of Shares under Indian Stamp Act, 1899 Stamp Duty on Gift of Shares under Indian Stamp Act, 1899 Is a Company Required to Have Three Individuals as KMP? Section 186 of Companies Act, 2013: NBFC Applicability, Exemptions & Key Points View More Published Posts

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Post by Date
April 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930