Corporate Law Updates

Compilation of Notifications / Circulars issued by  the MCA for Companies and/or LLPs from May 30, 2022 to June 1, 2022 

Sr. No. Amendments / Extensions / Clarifications given by the MCA Summary of Amendments / Extensions / Clarifications given by the MCA Applicable To
1. Companies (Compromises, Arrangements & Amalgamations) Amendment Rules, 2022

dated 30/05/2022

 

Revision in Form No. CAA-16:

The MCA has revised format of Form No. CAA-16 to insert declaration on compliance with Government approval requirement under FEMA.

In case of a compromise or an arrangement or merger or demerger between an Indian company and a company or body corporate which has been incorporated in a country which shares land border with India (i.e. China, Bhutan, Nepal, Pakistan, Bangladesh and Myanmar).
2. Clarification on Micro Finance / Micro Credit as an Object in the Object Clause of MOA of Section 8 Company dated 30/05/2022

 

Micro Finance / Micro Credit as an Object in the Object Clause of MOA of Section 8 Company is not feasible:

The MCA has directed to all ROCs / RDs / CRC Officials to issue directions / orders for changing their objects to prevent such Companies from carrying out Micro Finance activities.

Section 8 Companies which have included Micro Finance / Micro Credit as an Object in the Object Clause of MOA
3. Companies (Accounts) Third Amendment Rules, 2022 dated 31/05/2022

 

Extension for filing Form CSR-2:

The MCA has extended the deadline for submitting Form CSR-2 till June 30, 2022, from the previous deadline of May 30, 2022

Every Company to whom CSR was applicable for FY2020-21
4. Circular for Relaxation in paying additional fees in case of delay in filing all the event based e-forms by LLPs dated 31/05/2022 Relaxation in paying additional fees:

The MCA has allowed LLPs to file various event based LLP e-Forms, due dates of which are falling between 25th February, 2022 and 31st May, 2022, without paying additional fees up to 30th June, 2022.

Every LLP
5. Companies (Appointment and Qualification of Directors) Amendment Rules, 2022 dated 01/06/2022 Revision in Form No. DIR-2:

The MCA has revised format of Form No. DIR-2 to insert declaration on compliance with Government approval requirement under FEMA.

Every Company where the person seeking appointment as Director is a national of a country which shares land border with India (i.e. China, Bhutan, Nepal, Pakistan, Bangladesh and Myanmar)

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Qualification: CS
Company: Maurya & Associates, Company Secretaries
Location: Mumbai, Maharashtra, India
Member Since: 09 May 2022 | Total Posts: 8
CS Sanjay Maurya is Associate Member of The Institute of Companies Secretaries of India having good experience in secretarial matters. He is young and energetic Practicing Company Secretary. View Full Profile

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