The Ministry of Corporate Affairs has instructed that from Monday next, i.e. May 29th, 2011 the payment of less than Rs. 50,000/- through electronic mode will be permissible in the “Investor Education and Protection Fund” through “Pay Misc. Fee functionality”. This facility will also be admissible for user having category as “Official Liquidator (OL)” office, and the user having category as MCA employee.

For payments of above Rs. 50,000, stakeholders will have the option to either make the payment in electronic mode, or paper challan. However, from 1st October, 2011 such payments would be made in electronic mode only.

It may be noted that in the interest of stakeholders and to improve service delivery time the MCA decided to accept payments of value up to Rs. 50,000/- only for MCA 21 Services from 27th March, 2011 in electronic mode.

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Category : Company Law (3411)
Type : News (12549)

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