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All the terms and conditions of the General Circulars No. 59/2011 dated 05.08.2011 and No. 60/2011 dated 10.08.2011 will remain the same.
Violation of Companies Act – The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that the number of prosecutions filed for the violations of the provisions of the Companies Act, 1956 and disposed of during last three years are as under:-
Expressing hope that the Companies Bill, 2009, will be passed by Parliament in 2011, the Corporate Affairs Minister, Veerappa Moily, today said his ministry was ready with the Cabinet note for the legislation. Companies Bill will be passed, if not in this (monsoon) session, (then) definitely in the winter session, Moily told reporters on the sidelines of a FICCI meet here.
The Ministry of Corporate Affairs, in exercise of the powers under Section 611(2) and 637B (b) of the Companies Act, 1956 has decided to introduce a Scheme namely, ‘Company Law Settlement Scheme, 2011,’condoning the delay in filing documents with the Registrar, granting immunity from prosecution and charging additional fee of 25 percent of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules made there under. The orders issued to this effect vide the ministry’s General Circular No. 59 of August 05, 2011 are in order to give an opportunity to the defaulting companies to enable them to make their default good by filing such belated documents and to become a regular compliant in future. This scheme is effective from today and will remain in force up to 31st Oct, 2011.
General Circular No. 60/2011 In continuation of the Ministry’s General Circular No. 59/2011 dated 5.8.2011 on the subject cited above, it is stated that the said scheme shall be applicable to Form 52 (filing of annual accounts by a foreign company) as foreign companies are included in the scheme.
Ministry of Company Affaisrs has issued General General Circulars No. 33/2011 dated 01.06.2011 wherein it was informed that in order to ensure corporate governance and proper compliances of provisions of Companies Act, no request, whether oral, in writing or through e-forms, for recording any event based information / changes shall be accepted by the Registrar of Companies from such defaulting companies, unless they file their updated Balance Sheet and Profit & Loss Accounts and Annual Return with the Registrar of Companies.
The Ministry of Corporate Affairs has framed following criteria for declaring any financial institution as a Public Financial Institution (PFI) under under section 4a of the Companies Act,1956: Decided that with effect from 12th June, 2011, all DIN-1 & DIN-4 applications has to be digitally signed by the practicing Chartered Accountants, Company Secretaries or Cost Accountants who shall also verify the particulars of the applicant given in the applications. All these applications will be approved online.
In order to give an opportunity for fast track exit by a defunct company for getting its name struck off from the ROC, the Ministry Corporate Affairs (MCA), Government of India (GOI) has on 7 June 2011 decided vide General Circular No.36/2011 to modify the existing route through e-form – 61 and has prescribed the ‘Fast Track Exit mode Guidelines’ (the FTE Guidelines) for defunct companies under section 560 of the Act.
All the stakeholders are hereby informed that Ministry of Corporate Affairs has opened all the work items filed prior to coming into force the amended Regulation 17 of The Companies Regulation, 1956 i.e. 15.02.2009 and are pending for user clarification / re-submission / under regulation 17(6). All ROCs have been directed to disposed off pending work […]
From Next month you can register a company in India in 24 hours! The Union ministry of corporate affairs has set the first week of July as the target date for launching a completely digitised service that will allow anyone with all relevant documents and approvals to complete the process of registering a company in one day.
