company law notifications

Extension of Various Compliances By Ministry of Corporate Affairs

Company Law - The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Ministry of Corporate Affairs has enhanced the timeline regarding the duration of several schemes till the end of the year 2020 in the wake of constant disturbance caused by the coronavirus pandemic in certain p...

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7 Due dates extended by MCA to 31st December, 2020

Company Law - Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020 by the Government of India...

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Extension of timelines for various Company Law compliances under Companies Act, 2013

Company Law - Keeping in view the practical difficulties being faced on account of Covid-19, MCA to facilitate Ease of doing business has granted following reliefs to Companies/LLPs by way of Circulars and Amendments to Rules dated 28.09.2020: 1. Extension of Companies Fresh Start Scheme, 2020 (CFSS): CFSS Scheme which was to end on 30.09.2020 Vide Gen...

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Extension of CFSS, LLP Settlement & Various Schemes Till 31.12.2020

Company Law - The Ministry of Corporate Affairs introduced several schemes {Companies Fresh Start Scheme, 2020 (CFSS) General Circular No. 30/2020, LLP settlement Scheme 2020 General Circular No. 31/2020, Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 General Circular No. 33/2...

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AGM extension- Is it valid till 31.12.2020 for all companies?

Company Law - Whether extension of AGM for financial year 2019-20 is valid up to 31st December, 2020 in each case and for all companies? Due to the outbreak of COVID-19 disease all over the world, holding an Annual General Meeting (AGM) physically is risky, therefore, if the Company is holding AGM physically then the same shall be […]...

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MCA Extended duration of several Schemes till 31.12.2020

Company Law - MCA on 28.09.2020, vide various circulars and notification extended the date of various schemes to 31.12.2020 which were launched for ease of doing Business, Schemes extended are as follows:- 1. Companies Fresh Start Scheme, 2020 2. LLP Settlement Scheme, 2020 3. Scheme for relaxation of time for filing forms related to Creation or Modifi...

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Relax additional fees & extend last date of filing various e-forms: ICSI

Company Law - ICSI requests Ministry of Corporate Affairs for Relaxation of additional fees and  for extension of last date for filing of various e-forms under the Companies Act, 2013 vide its letter dated 27th December 2019. THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (...

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Companies (Amendment) Bill, 2018 as introduced in Lok Sabha

Company Law - (1) This Act may be called the Companies (Amendment) Act, 2018. (2) It shall be deemed to have come into force on the 2nd day of November, 2018....

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Summary of changes as per Draft Companies (Cost Records and Audit) Amendment Rules, 2017

Company Law - Pursuant to implementation of IndAS, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to bring parity between financial records and cost records. Accordingly, the Draft Companies (Cost Records and Audit) Amendment Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments....

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Draft Companies (cost records and audit) Amendment Rules, 2017

Company Law - 1. Material Costs-(a) Proper records shall be maintained showing separately all receipts, issues and balances both in quantities and cost of each item of raw material required for the production of goods or rendering of services under reference....

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Suo Moto NCLAT Delhi order under Insolvency, Competition & Company Law

Suo Moto (NCLAT Delhi) - That the period of lockdown ordered by the Central Government and the State Governments including the period as may be extended either in whole or part of the country, where the registered office of the Corporate Debtor may be located...

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MCA notifies Special court in Maharashtra, WB & TN for SEBI Cases under Companies Act, 2013

Notification No. S.O. 4283(E). - (27/11/2020) - Central Government hereby designates Special Courts in the States of Maharashtra, West Bengal (WB) and Tamil Nadu (TN) for the purposes of trial of offences under Companies Act, 2013, in respect of cases filed by the Securities and Exchange Board of India. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION ...

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MCA relaxes residency requirement of 182 days for Director

General Circular No. 36/2020 - (20/10/2020) - It is hereby clarified that non-compliance of minimum residency in India for a period of at least 182 days in a year, by at least one director in every company, under section 149 of the Companies Act, 2013 shall not be treated as non-compliance for the financial year 2020-­2021 also....

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Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020

Notification No. G.S.R. 642(E). - (16/10/2020) - (1) These rules may be called the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020. (2) They shall come into force from the date of their publication in the Gazette....

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IEPF e-forms filing due date extended till 31st December 2020

General Circular No. 35/2020 - (29/09/2020) - MCA enabled filing of various IEPF e-forms (IEPF -1, IEPF- I A, IEPF-2, IEPF-3, IEPF-4, IEPF-7) and e-verification of claims filed in e-form IEPF-5 without additional fees till 31st December 2020...

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Time for Creation of deposit repayment reserve & to deposit 15% of amount of debentures extended

General Circular No. 34/2020 - (29/09/2020) - Clarification with regard to creation of deposit repayment reserve of 20% u/s. 73 (2) (C) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 of Companies (Share capital and Debentures) Rules 2014 – COVID-19 – Extension of time-regarding. General Circula...

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Recent Posts in "company law notifications"

MCA notifies Special court in Maharashtra, WB & TN for SEBI Cases under Companies Act, 2013

Notification No. S.O. 4283(E). (27/11/2020)

Central Government hereby designates Special Courts in the States of Maharashtra, West Bengal (WB) and Tamil Nadu (TN) for the purposes of trial of offences under Companies Act, 2013, in respect of cases filed by the Securities and Exchange Board of India. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th November, 2020 S.O. ...

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MCA relaxes residency requirement of 182 days for Director

General Circular No. 36/2020 (20/10/2020)

It is hereby clarified that non-compliance of minimum residency in India for a period of at least 182 days in a year, by at least one director in every company, under section 149 of the Companies Act, 2013 shall not be treated as non-compliance for the financial year 2020-­2021 also....

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Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020

Notification No. G.S.R. 642(E). (16/10/2020)

(1) These rules may be called the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020. (2) They shall come into force from the date of their publication in the Gazette....

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Extension of Various Compliances By Ministry of Corporate Affairs

The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Ministry of Corporate Affairs has enhanced the timeline regarding the duration of several schemes till the end of the year 2020 in the wake of constant disturbance caused by the coronavirus pandemic in certain p...

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Posted Under: Company Law |

7 Due dates extended by MCA to 31st December, 2020

Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020 by the Government of India...

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Posted Under: Company Law |

Extension of timelines for various Company Law compliances under Companies Act, 2013

Keeping in view the practical difficulties being faced on account of Covid-19, MCA to facilitate Ease of doing business has granted following reliefs to Companies/LLPs by way of Circulars and Amendments to Rules dated 28.09.2020: 1. Extension of Companies Fresh Start Scheme, 2020 (CFSS): CFSS Scheme which was to end on 30.09.2020 Vide Gen...

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Posted Under: Company Law |

IEPF e-forms filing due date extended till 31st December 2020

General Circular No. 35/2020 (29/09/2020)

MCA enabled filing of various IEPF e-forms (IEPF -1, IEPF- I A, IEPF-2, IEPF-3, IEPF-4, IEPF-7) and e-verification of claims filed in e-form IEPF-5 without additional fees till 31st December 2020...

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Time for Creation of deposit repayment reserve & to deposit 15% of amount of debentures extended

General Circular No. 34/2020 (29/09/2020)

Clarification with regard to creation of deposit repayment reserve of 20% u/s. 73 (2) (C) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 of Companies (Share capital and Debentures) Rules 2014 – COVID-19 – Extension of time-regarding. General Circular No. 34/2020 File No.02/08/2020-CL-V Go...

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MCA Extended duration of several Schemes till 31.12.2020

MCA on 28.09.2020, vide various circulars and notification extended the date of various schemes to 31.12.2020 which were launched for ease of doing Business, Schemes extended are as follows:- 1. Companies Fresh Start Scheme, 2020 2. LLP Settlement Scheme, 2020 3. Scheme for relaxation of time for filing forms related to Creation or Modifi...

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Posted Under: Company Law |

Extension of CFSS, LLP Settlement & Various Schemes Till 31.12.2020

General Circular No. 30/2020, 31/2020, 32/2020, 33/2020 (28//0/9/20)

The Ministry of Corporate Affairs introduced several schemes {Companies Fresh Start Scheme, 2020 (CFSS) General Circular No. 30/2020, LLP settlement Scheme 2020 General Circular No. 31/2020, Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 General Circular No. 33/2...

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Posted Under: Company Law |

Companies (Amendment) Act, 2020 receives assent of President

No. 29 of 2020 (28/09/2020)

Companies (Amendment) Act, 2020 received the assent of the President on the 28th September, 2020. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 28th September, 2020/Asvina 6, 1942 (Saka) The following Act of Parliament received the assent of the President on the 28th September, 2020 and is hereby published for genera...

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Companies (Meetings of Board and its Powers) Third Amendment Rules, 2020

Notification No. G.S.R. 590(E) (28/09/2020)

MCA vide notification No. G.S.R. 590(E) dated 28th September, 2020 allowed following matters to be dealt with in any meeting held through video conferencing or other audio visual means for the period from 19th March 2020 and ending on 31st December, 2020 Provided that where there is quorum presence in a meeting through physical presence [...

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Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2020

Notification No. G.S.R. 589(E). (28/09/2020)

MCA extends time for Compliances required by Every individual who has been appointed as an independent director in a company, on the date of commencement of the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019 (I.e. 1st December 2019) , shall within a period  of 13 Months from such commencement (i.e. upt...

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Time for conducting EGMs through VC or OAVM extended till 31.12.2020

General Circular No. 33/2020 (28/09/2020)

Time for conducting EGMs through Video Conference (VC) or Other Audio Visual Means (OAVM) also stand extended till 31.12.2020. In continuation of the extensions being given for compliance relaxations previously announced, MCA has extended the time period upto which companies can conduct their board meetings through VCs or Other Audio Visu...

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Relaxation for filing Charge related forms extended till 31.12.2020

General Circular No. 32/2020 (28/09/2020)

The Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 extended till 31.12.2020. General Circular No. 32/2020 F. No. 02/05/2020-CL-V Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 28...

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LLP Settlement Scheme 2020 extended to 31.12.2020

General Circular No. 31/2020 (28/09/2020)

MCA had introduced a new scheme known as the LLP Settlement Scheme, 2020 which was valid from 01.04.2020 to 13.06.2020 and was later extended till 30.09.2020. The Scheme has been further extended to 31.12.2020 to enable LLPs to make good their previous defaults. General Circular No. 31/2020 F. No. 17/61/2016-CL-V-Pt.I Government of India ...

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Companies Fresh Start Scheme, 2020 extended till 31.12.2020

General Circular No. 30/2020 (28/09/2020)

The Ministry of Corporate Affairs had introduced a new scheme known as the Companies Fresh Start Scheme, 2020, valid from 01.04.2020 to 30.09.2020 to enable companies to make good their previous defaults. This Scheme has now been extended till 31.12.2020. General Circular No. 30/2020 F. No. 02/01/2020-CL-V Government of India Ministry of ...

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Time for registration of Independent Directors extended to 31.12.2020

Notification No. S.O. _ (E) (22/09/2020)

The Ministry of Corporate Affairs has also extended the time within which Independent Directors of companies have to register themselves on the databank maintained by the IICA from 30.09.2020 to 31.12.2020. Government of India Ministry of Corporate Affairs Notification New Delhi, the 22nd August, 2020 S.O. _ (E).- In exercise of the power...

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Tenure of Company Law Committee extended upto 17.09.2021

F. No. 211/2018-CL-V (17/09/2020)

In continuation of the Order of even no. dated 18.09.2019 (annexed herewith), the tenure of the Company Law Committee is hereby extended upto two years from the date of that order i.e. upto 17.09.2021....

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AGM extension- Is it valid till 31.12.2020 for all companies?

Whether extension of AGM for financial year 2019-20 is valid up to 31st December, 2020 in each case and for all companies? Due to the outbreak of COVID-19 disease all over the world, holding an Annual General Meeting (AGM) physically is risky, therefore, if the Company is holding AGM physically then the same shall be […]...

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Posted Under: Company Law |

Extension of Last Date of Filing Cost Audit Report for FY 2019-20

General Circular No. 29/2020 (10/09/2020)

It has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the companies is submitted by 30th November, 2020...

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Companies (Acceptance of Deposits) Amendment Rules, 2020

Notification No. G.S.R. 548(E) (07/09/2020)

MCA notifies Companies (Acceptance of Deposits) Amendment Rules, 2020 vide Notification No. G.S.R. 548 (E) dated 07th September 2020 and amended rule 2, in sub-rule (1), in clause (c), in sub-clause (xvii) of Companies (Acceptance of Deposits) Rules, 2014. Extract of Revised Rule 2(1)(c)(xvii) is as follows:- (c) ‘Deposit’ inc...

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Companies (Management and Administration) Amendment Rules, 2020

Notification No. G.S.R. 538(E) (28/08/2020)

The Companies (Management and Administration) Amendment Rules, 2020– A company shall not be required to attach the extract of the annual return with the Board’s report in Form No. MGT-9, in case the web link of such annual return has been disclosed in the Board’s report in accordance with sub-section (3) of section 92 of [&helli...

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Provisions for Placement of annual return on website of company notified

Notification No. S.O. 2920(E) (28/08/2020)

Amendment to Sub-Section (3) Section 92 of Companies Act 2013 made effective from 28.8.2020 provides that  Every company shall place a copy of the annual return on the website of the company, if any, and the web-link of such annual return shall be disclosed in the Board’s report. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi...

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R&D for Covid vaccine, drugs & medical devices included in CSR

Notification No. G.S.R. 526(E) (24/08/2020)

Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 MCA notifies following activities as CSR Activity Provided that any company engaged in research and development (R&D) activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vacc...

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Contribution for R&D activities-More entities covered in CSR

Notification No. G.S.R. 525(E) (24/08/2020)

MCA amends Schedule VII of Companies Act, 2013  and to include more entities in engaged in research and development to whom contribution will fbe treated as Contribution for Corporate Social Responsibility (CSR) Activities as required under Section 135 of Companies Act, 2013. Same is done by substituting item (ix) of Schedule VII of Comp...

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File GNL-1 for seeking extension of time in holding of AGM

General Circular No. 28/2020 (17/08/2020)

MCA has not given any extension for holding of AGM for the financial year ended as at 31.03.2020 and has only allowed holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM). MCA has now clarified as below- 1. Companies can use relaxations in General Circular No. 20/2020, dated […]...

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Keshav Chandra appointed as Director in SFIO under MCA

Notification No. S.O. 2709(E) (11/08/2020)

Central Government hereby appoints Shri Keshav Chandra, IAS (AGMUT: 1995) as Director in the Serious Fraud Investigation Office (SFIO) under Ministry of Corporate Affairs, with effect from the forenoon of 03.08.2020, for an overall tenure of five years up to 17.12.2022 or until further orders, whichever is earlier....

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Reg. Dispatch of notice by listed companies for rights issue

General Circular No. 27/2020 (03/08/2020)

In case of listed companies, which comply with relevant circulars issued by SEBI, inability to dispatch the relevant notice to shareholders through registered post or speed post or courier would not be viewed as violation of section 62(2) of the Act for rights issues opening upto 31st December, 2020....

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NCLT & NCLAT(Procedure for investigation of misbehaviour or incapacity of Chairperson, President and other Members) Rules, 2020

Notification No. G.S.R. 470(E) (28/07/2020)

These rules may be called the National Company Law Tribunal and National Company Law Appellate Tribunal (Procedure for investigation of misbehavior or incapacity of Chairperson, President and other Members) Rules, 2020....

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Companies (Indian Accounting Standards) Amendment Rules, 2020

Notification No.G.S.R. 463(E) (24/07/2020)

(1) These rules may be called the Companies (Indian Accounting Standards) Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....

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Designation of Special Courts at Kamrup (Guwahati) under Company Law

Notification No. S.O. 2445 (E) (24/07/2020)

Chief Justice of the High Court of Gauhati hereby designates Court of Chief Judicial Magistrate, Kamrup (M) at Guwahati as Special Court for the purposes of providing speedy trial of offences under clause (b) of sub-section (2) of section 435 of the Companies Act, 2013. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 24th July, ...

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NFRA bans another auditor in IL&FS case for 5 Years & levied penalty

NFRA Order No. NF-20012/1/2020 (23/07/2020)

NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Five Lakhs is levied upon CA Rukshad Daruvala. (ii) In addition, CA Rukshad Daruvala is debarred for a period of five years from being appointed as an auditor or internal auditor or undertaking any […]...

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NFRA bars ex-Deloitte CEO for 7 years & levies Penalty

File No.NF-200121112020-1/o Secy-NFRA (22/07/2020)

NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Twenty Five lakhs is levied upon CA Udayan Sen. (ii) In addition, CA Udayan Sen is debarred for a period of seven years from being appointed as an auditor or internal auditor or undertaking […]...

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Govt. appoints new Chairman and members of IEPF

S.O. 2282(E) (08/07/2020)

Central Government hereby appoints the Shri Rajesh Verma as Chairperson and Shri Anil K. Sharma, Shri P. S. Narasimha,  Shri Rakesh Jain and Shri Gopal V. Kumar as Members to the Investor Education and Protection Fund Authority with effect from the date of publication of this notification. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New D...

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Extension of last date of filing of Form NFRA-2 to 270 days

General Circular No. 26/2020 (06/07/2020)

It has been decided that the time limit for filing of Form NFRA­-2, for the reporting period FY 2018-19, will be 270 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....

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Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020

Notification No. G.S.R. 420(E) (29/06/2020)

MCA has vide Notification No. G.S.R. 420(E) dated 29th June, 2020 has issued and published the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020 further to amend the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. Full text of the notification is as follows...

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Clarification on CSR contribution to PM CARES Fund

General Circular No. 25/2020  (25/06/2020)

In view of the amendment in Schedule VII of the Companies Act, 2013 vide gazette notification no. G.S.R. 313(E) dated 26th May, 2020, deemed to have come into force on 28th March 2020, the Office Memorandum No. CSR-05/1/2020-CSR_MCA dated 28.03.2020 is redundant and hence stands superseded....

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Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2020

Notification No. G.S.R. 396(E). (23/06/2020)

MCA has issued Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2020 which are applicable from  23rd June 2020 and by this Registration of details of Independent Directors in Independent Directors Data Bank who were director on 1st December 2019 is been allowed till 30th September 2020. Revised rules now prov...

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Companies (Meetings of Board and its Powers) Second Amendment Rules, 2020

Notification No. G.S.R. 395(E) (23/06/2020)

Companies (Meetings of Board and its Powers) Second Amendment Rules, 2020- MCA further relax the requirement of holding Board meetings with physical presence of directors under section 173 (2) read with rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 for approval of the annual financial statements, Board’s report,...

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Measures for benefit of CAPF & CPMF veterans & their family included in CSR

Notification No. G.S.R. 399(E) (23/06/2020)

MCA amends Clause (vi) of CSR Schedule VII of Companies Act 2013 to includes measures for the benefit of Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows vide Notification No. G.S.R. 399(E) dated 23rd, June 2020. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi,...

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MCA extends time for Creation of deposit repayment reserve & to deposit 15% of amount of debentures

General Circular No. 24/2020 (19/06/2020)

Further Extension of time till 30th September 2020 to creation of deposit repayment reserve of 20% u/s. 73(2)(C) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 of Companies (Share capital and Debentures) Rules 2014 vide General Circular No. 24/2020 Dated: 19th June, 2020. Requirement under section 73...

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MCA relaxes time to file forms for creation/modification of charges

General Circular No. 23/2020 (17/06/2020)

The companies are required to file forms related to creation or modification of charges within the timelines provided in section 77 of the Companies Act, 2013 (Act), i.e. a total of 120 days of the creation or modification of charge....

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MCA extends EGM deadline upto 30th September 2020

General Circular No. 22/2020 (15/06/2020)

MCA allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot upto 30th September, 2020....

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Companies (Share Capital and Debentures Amendment Rules, 2020

Notification No. G.S.R. 372(E). (05/06/2020)

Companies (Share Capital and Debentures Amendment Rules, 2020 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 5th June, 2020 G.S.R. 372(E).– In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to ...

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MCA includes ‘PM CARES Fund’ in CSR Schedule VII

Notification No. G.S.R. 313(E) (26/05/2020)

MCA notifies PM CARES as eligible to receive CSR Corpuses of corporates as it amends Schedule VII of Companies Act, 2013 vide Gazette Notification dated 26th May, 2020 and included Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) in Corporate Social Responsibility (CSR) Activities under Sectio...

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Dispatch of notice by listed companies for rights issue- MCA clarifies

General Circular No. 21/2020 (11/05/2020)

MCA Clarification on dispatch of notice under section 62(2) of Companies Act, 2013 by listed companies for rights issue opening upto 31st July, 2020 vide General Circular No. 21/2020 Dated: 11th May, 2020. General Circular No. 21/2020 F. No. 2/4/2020-CL-V Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, S...

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MCA clarifies on holding of Digital AGM through VC or OAVM

General Circular No. 20/2020 (05/05/2020)

MCA clarifies on holding of Digital AGM through VC or OAVM For companies which are required to provide the facility of e-voting under the Act, or any other company which has opted for such facility and For companies which are not required to provide the facility of e-voting. ...

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Last date of filing of Form NFRA-2 extended to 210 days from deployment date

General Circular No. 19/2020 (30/04/2020)

It has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19, will be 210 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....

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Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020

Notification No. G.S.R. 268 (E) (29/04/2020)

MCA has issued Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020 which are applicable from 29th April 2020 and by this Registration of details of Independent Directors in Independent Directors Data Bank who were director on 1st December 2019 is been allowed till 30th June 2020. Revised rules now provide ...

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Draft Procedure for Submission of Audit Files to NFRA

Notification No. NF-20011/3/2020 (28/04/2020)

NFRA proposes to prescribe the procedures to be followed by all entities regulated by NFRA for submission of Audit Files to NFRA. NFRA invites comments from regulated entities on the procedure described in this draft document in Annexure A....

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Companies allowed to hold AGM till 30.09.2020 whose FY ending on 31.12.2019

General Circular No. 18/2020 (21/04/2020)

Several representations have been received from stakeholders with regard to difficulty in holding annual general meetings (AGMs) for companies whose financial year ended on 31st December, 2019 due to COVID-19 related social distancing norms and consequential restrictions linked thereto....

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MCA further clarifies on passing of ordinary & special resolutions- COVID-19

General Circular No 17/2020 / Press Relase ID No. 1614099 (13/04/2020)

Further Clarification vide General Circular No 17/2020 on passing of ordinary and special resolutions by companies under the Companies Act, 2013 and rules made thereunder on account of the threat posed by COVID-19...

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MCA allows filing of IEFF e-forms till 30.09.2020 without additional fees

General Circular No. 16/2020 (13/04/2020)

General Circular No. 16/2020 File No. 16/01/2018-IEPFA (Vol. II) Investor Education and Protection Fund Authority Ministry of Corporate Affairs Government of India Ground Floor, Jeevan Vihar Building, 3, Parliament Street, New Delhi-01, Dated: 13th April, 2020 To All Stakeholders, Nodal Officers (IEPF) of Companies, All Regional Directors...

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COVID-19 related FAQs on Corporate Social Responsibility by MCA

General Circular No. 15/2020 (10/04/2020)

MCA vide General Circular No. 15/2020 dated 10th April 2020 has issued and published COVID-19 related FAQs on Corporate Social Responsibility (CSR). Major Update: ‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’ is not included in Schedule VII of the Companies Act, 2013 and therefore any contribution to such fu...

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MCA allows companies to hold EGMs through VC or OAVM

General Circular No. 14/2020 (08/04/2020)

MCA allows  companies to hold Extraordinary General Meetings (EGMs) through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails....

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MCA modifies LLP Settlement Scheme 2020

General Circular No. 13/2020 (30/03/2020)

in order to support and enable Limited Liability Partnerships (LLPs) registered in India to focus on taking necessary measures to address the COVID-I9 threat and to reduce their compliance burden, certain modifications to the LLP Settlement Scheme, 2020 have been decided to be implemented with effect from 01.04.2020 vide General Circular ...

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Companies Fresh Start Scheme, 2020

General Circular No. 12/2020 (30/03/2020)

Central Government introduce a Scheme namely Companies Fresh Start Scheme, 2020 (CFSS-2020) condoning the delay in filing the specified documents with the Registrar, insofar as it relates to charging of additional fees, and granting of immunity from launching of prosecution or proceedings for imposing penalty on account of delay associate...

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MCA introduces Companies Fresh Start Scheme 2020 & Revises LLP Settlement Scheme 2020

NA (30/03/2020)

Ministry of Corporate Affairs introduces the 'Companies Fresh Start Scheme, 2020' and revised the 'LLP Settlement Scheme, 2020' to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19...

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Suo Moto NCLAT Delhi order under Insolvency, Competition & Company Law

Suo Moto (NCLAT Delhi)

That the period of lockdown ordered by the Central Government and the State Governments including the period as may be extended either in whole or part of the country, where the registered office of the Corporate Debtor may be located...

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Posted Under: Company Law | |

Relaxation under different statues during pandemic of COVID-19

We all are aware (or may be some of us are already fed up) with the news of CoVID-19 which is pandemic and led to thousands death tolls around world with Italy the most affected country. Likewise CoVID-19 has reached in India through residents who have visited and/or returned from affected countries. In India, the […]...

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Posted Under: Company Law |

COVID-19 – Special relief Measures for Companies & LLP

General Circular No. 11/2020 (24/03/2020)

In order to support and enable Companies and Limited Liability Partnerships (LLPs) in India to focus on taking necessary measures to address the COVID-19 threat, including the economic disruptions caused by it, the following measures have been implemented by the Ministry of Corporate Affairs to reduce their compliance burden and other ris...

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MCA defers applicability of CARO 2020 to 1st April 2020 (FY 2020-21)

Notification No. S.O. 1219(E) (24/03/2020)

MCA has vide its order dated 24th March 2020 announced that CARO 2020 will applies, for the financial years commencing on or after the 1st April, 2020 instead of financial years commencing on or after the 1st April, 2019. Decision is been take considering recent Outbreak of Corona Virus. GOVERNMENT OF INDIA MINISTRY OF CORPORATE […...

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Spending of CSR funds for COVID-19 is eligible CSR activity: MCA

General Circular No. 10/2020 (23/03/2020)

Keeping in view the spread of the Corona Virus (COVID-19) in India, its declaration as pandemic by the World Health Organisation (WHO) and decision of the Government of India to treat this as a notified disaster, the Ministry of Corporate Affairs vide its General Circular No. 10/2020 dated 23rd March, 2020 has clarified that spending [&he...

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Companies (Meetings of Board and its Powers) Amendment Rules, 2020

Notification No. G.S.R. 186 (E). (19/03/2020)

Companies (Meetings of Board and its Powers) Amendment Rules, 2020- Reg: Board meetings under the Companies Act, 2013: Considering the need to take precautionary steps to overcome the outbreak of the coronavirus (Covid-19), the Government has in-principle decided to relax the requirement of holding Board meetings with physical presence of...

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A brief on valuation approaches for registered valuers

Types of approaches used in Valuation : A brief on valuation approaches for registered valuers With the introduction of concept of Registered valuer’ by Companies Act, 2013, the requirement for a professional and methodological  approach to valuation has arisen. Not a while ago, for majority of proefessionals the valaution of an eq...

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Posted Under: Company Law |

Govt introduces Companies (Amendment) Bill, 2020 in Lok Sabha

Bill No. 88 of 2020 (17/03/2020)

Government introduces Companies (Amendment) Bill, 2020 in Lok Sabha on 17th March 2020.  The Companies (Amendment) Bill, 2020, inter alia, provides for the following, namely:— (a) to decriminalise certain offences under the Act in case of defaults which can be determined objectively and which otherwise lack any element of fraud or do n...

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Constitution of NCLAT Bench at Chennai

Notification No. S.O. 1060(E) (13/03/2020)

Central Government hereby constitutes another Bench of the National Company Law Appellate Tribunal (NCLAT) at Chennai to hear the appeals against the orders of the Benches of the National Company Law Tribunal (NCLT) having jurisdiction of Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Lakshadweep and Puducherry....

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Draft Companies (CSR Policy) Amendment Rules, 2020 for comments

Notification No. G.S.R...(E) (13/03/2020)

In order to operationalize the Companies (Amendment) Act, 2019, the Companies (Corporate Social Responsibility Policy) Amendment Rules , 2020 has been drafted for carrying out amendments in the Companies (CSR Policy) Rules, 2014....

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Last date to file MGT-7 and AOC-4 in J&K & Ladakh extended to 30.06.2020

General Circular No. 09/2020 (12/03/2020)

It has been decided to further extend the due date for filing of e-forms AOC-4, AOC-4 (CFS) AOC-4 XBRL and e-form MGT-7 upto 30.06.2020, for companies having jurisdiction in the UT of J&K and UT of Ladakh without levy of additional fee....

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Companies (Incorporation) second Amendment Rules, 2020

Notification No. G.S.R. 169(E) (12/03/2020)

MCA notifies Companies (Incorporation) second Amendment Rules, 2020 and amend Annexure, in Form No. INC-28 vide Notiufication dated 12th March 2020. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 12th March, 2020 G.S.R. 169(E)._ In exercise of the powers conferred by section 3, sub-section (1) of section 7 and s...

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Companies (Registration Offices and Fees) Second Amendment Rules, 2020

Notification No. G.S.R. 170(E) (12/03/2020)

MCA notifies ‘Companies (Registration Offices and Fees) Second Amendment Rules, 2020‘ and amends vide Form No.GNL-2 and add the word ‘Filing under Insolvency and Bankruptcy Code, 2016‘ instead of ‘Form 159 of the Companies (Court) Rules,1959′ and also add after first verification column- Particulars of ...

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Filing of forms in Registry MCA-21 by IRP or RP or Liquidator- MCA clarifies

General Circular No. 08/2020 (06/03/2020)

Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional) (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC), 2016 MINISTRY OF CORPORATE AFFAIRS vide General Circular No. 08/2020 dated 06.03.2020, has issued clarification for statutory...

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Committee to prepare Investigation manual for SFIO

Notification No. F. No. Legal-35/3/2020 (06/03/2020)

F. No. Legal-35/3/2020 Government of India Ministry of Corporate Affairs 5th Floor, Shastri Bhavan, Dr. Rajendra Prasad Road, New Delhi-110001, Date: 06.03.2020 OFFICE ORDER Subject: Constitution of High Level Committee for preparation of Investigation manual for Serious Fraud Investigation Office (SFIO) With the approval of Competent Aut...

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MCA Extend last date of filing of Form NFRA-2 for FY 2018-19

General Circular No. 07/2020 (05/03/2020)

General Circular No. 07/2020 F. No.713912019-CL-I Government of India Ministry of CorPorate Affairs 5*’ Floor, ‘A’Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 05.03.2020 To A1l RDs, All RoC, The Stakeholders. Subject: Extension of the last date of filing of Form NFRA-2 reg. Sir, In continuation of the Ministry&...

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New Exemptions to Government Companies | Companies Act 2013

Notification No. G.S.R.151(E) (02/03/2020)

Exemptions to Government Companies under section 462 of the Companies Act 2013 vide notification dated 02.03.2020. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 02 March, 2020 G.S.R. 151(E). – In exercise of the powers conferred by clauses (a) and (b) of sub‑section (1) and in pursuance of sub-secti...

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MCA clarifies on prosecutions for defaults committed by a company

General Circular No. 1/2020 (02/03/2020)

Clarification on prosecutions filed or internal adjudication proceedings initiated against Independent Directors, non- promoters and non-KMP non-executive directors under Companies Act 2013...

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Companies (Appointment and Qualification of Directors) Amendment Rules, 2020

Notification No. G.S.R. 145(E) (28/02/2020)

Companies (Appointment and Qualification of Directors) Amendment Rules, 2020. Provided that an individual shall not be required to pass the online proficiency self-assessment test, when he has served as a director or key managerial personnel, for a total period of not less than ten years, as on the date of inclusion of his name in the dat...

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Phase 3 of IBBI Valuation Examinations w.e.f. 1st June 2020

Press Release No. IBBI/PR/2020/03 (28/02/2020)

IBBI publishes syllabus, format, frequency and other details of valuation examinations- Phase 3 of Valuation Examinations w.e.f. 1st June 2020 Insolvency and Bankruptcy Board of India Press Release No. IBBI/PR/2020/03 28th February 2020 Phase 3 of Valuation Examinations w.e.f. 1st June 2020 In pursuance of the rule 5 (3) of the Companies ...

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Companies (Auditor’s Report) Order, 2020 (CARO 2020)

Notification No. S.O. 849(E). (25/02/2020)

(1) This Order may be called the Companies (Auditor's Report) Order, 2020. (2) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act], except–...

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Companies (Incorporation) Amendment Rules, 2020

Notification No. G.S.R 128(E) (18/02/2020)

(1) These rules may be called the Companies (Incorporation) Amendment Rules, 2020. (2) They shall come into force with effect from the 23rd February, 2020....

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Companies (Registration Offices and Fees) Amendment Rules, 2020

Notification No. G.S.R. 127(E) (18/02/2020)

MCA has released revised form No. GNL-2 vide Companies (Registration Offices and Fees) Amendment Rules, 2020. A Company can file certain documents with the Registrar of Companies by filing this e-Form GNL-2 and in case there is no e- Form prescribed for filing any document with Registrar, then company or liquidator can file such documents...

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Filing of forms in Registry (MCA-21) by IRP, RP or Liquidator

General Circular No. 04/2020 (17/02/2020)

Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016)....

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Nidhi (Second Amendment) Rules, 2020

Notification No. G.S.R. 114(E) (14/02/2020)

Nidhi (Second Amendment) Rules, 2020- In the Nidhi Rules, 2014, in rule 23A, for the words six months the words nine months shall be substituted....

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Companies (Issue of Global Depository Receipts) Amendment Rules, 2020

[File No. 1/21/ 2013-CL-V-part] [G.S.R. 111(E).] (13/02/2020)

(1) These rules may be called the Companies (Issue of Global Depository Receipts) Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....

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Nidhi (Amendment) Rules, 2020

Notification No. G.S.R. 81(E). (03/02/2020)

MCA notifies substituted Form NDH-1, NDH-2 & NDH-3 and issued revised FORM NO. NDH-1- Return of Statutory Compliances, FORM NO. NDH-2 – Application for extension of time and FORM NO. NDH-3 – Return of Nidhi Company for the half year. Government of India Ministry of Corporate Affairs Notification New Delhi, 03rd Feb, 2020 G...

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Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2020

F. No. 2/31/CAA/2013-CL.V [G.S.R. 79(E).] (03/02/2020)

(1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....

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National Company Law Tribunal (Amendment) Rules, 2020

Notification No. G.S.R. 80(E) (03/02/2020)

These rules may be called the National Company Law Tribunal (Amendment) Rules, 2020. They shall come into force on the date of their publication in the Official Gazette....

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MCA notifies sub-sections (11) & (12) of section 230 wef 03.02.2020

F. No. 2/31/CAA-2013-CL-V (Part) (03/02/2020)

Central Government hereby appoints the 03rd of February,2020 as the date on which the provisions of sub-sections (11) and (12) of section 230 of the Companies Act, 2013 shall come into force....

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Last date for filing MGT-7 and AOC-4 in J&K & Ladakh extended

General Circular No. 03/2020 (31/01/2020)

MCA further extended the due date for filing of e-forms AOC-4, AOC-4 (CFS) AOC- 4 XBRL and e-form MGT-7 upto 31.03.2020, for companies having jurisdiction in the UT of J&K and UT of Ladakh without levy of additional fee. General Circular No. 03/2020 F.No. 01/34/2013 CL-V Government of India Ministry of Corporate Affairs 5th Floor, [&h...

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Date of filing AoC-4 NBFC (Ind AS) and AoC-4 CFS NBFC (Ind AS)

General Circular No. 02/2020 (30/01/2020)

General Circular No. 02/2020- MCA extend the last date for filing of AoC-4 NBFC (Ind AS) and AoC-4 CFS NBFC (Ind AS) for all eligible companies for the FY 2018-19, without payment of additional fee till 31st March, 2020. General Circular No. 02/2020 F. No. 1/ 19/2013-CL-V-Part III Government of India Ministry of Corporate Affairs To, Al...

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Companies (Accounts) Amendment Rules, 2020

Notification No. G.S.R. 60(E). (30/01/2020)

MCA notifies vide ‘Companies (Accounts) Amendment Rules, 2020′ that Every Non-Banking Financial Company (NBFC) that is required to comply with Indian Accounting Standards (Ind AS) shall file the financial statements with Registrar together with Form AOC-4 NBFC (Ind AS) and the consolidated financial statement, if any, with For...

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Section 460 of Companies Act 2013 made applicable to LLP

G.S.R. 59(E) (30/01/2020)

Government directs that provisions of section 460 of the Companies Act, 2013 (Condonation of Delay by Central Government in certain cases) shall apply to a limited liability partnership from the date of publication of this notification in the official Gazette. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS New Delhi, the 30th Jan, 2020...

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Companies (Winding Up) Rules, 2020

Notification No. G.S.R. 46(E) (24/01/2020)

(1) These rules may be called the Companies (Winding Up) Rules, 2020. (2) They shall come into force on the 1st day of April, 2020. (3) These rules shall apply to winding up under of Companies Act 2013 (18 of 2013)....

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Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020

Notification No. G.S.R. 13(E) [F. No. 01/05/2013-CL-V-Pt-I] (03/01/2020)

Brief provision of applicability of Secretarial Audit Report with amendment in rules vide Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020 The applicability of the Secretarial Audit is on the bigger Companies as per the Section 204(1) of the Companies Act, 2013 read with Rule 9 of the Companies (Ap...

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Form BEN-2 Date Extended to 31.03.2020

General Circular No. 01/2020 (01/01/2020)

It is hereby informed that the time limit for filing e-form No.BEN-2 is extended upto 31.03.2020 without payment of additional fee and thereafter fee and additional fee shall be payable....

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Last date of filing of CRA-4 (cost audit report) extended to 29.02.2020

General Circular No. 17/2019 (30/12/2019)

General Circular No. 17/2019- Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2018-19, without payment of additional fee, has been further extended till 29.02.2020. General Circular No. 17/2019 F.No. 52/50/CAB/2019 GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor, ‘A̵...

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CRA-4 cost audit report due Date Extended to 29.02.2020

General Circular No. 17/2019 (30/12/2019)

Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2018-19, without payment of additional fee, has been further extended till 29.02.2020....

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Relax additional fees & extend last date of filing various e-forms: ICSI

ICSI requests Ministry of Corporate Affairs for Relaxation of additional fees and  for extension of last date for filing of various e-forms under the Companies Act, 2013 vide its letter dated 27th December 2019. THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (...

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