Companies Act 2013 notification

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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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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AGM due date extended by 3 Months for all companies

Order No. ROC/P/Sec 96/2020/414 (08/09/2020)

AGM due date for the Financial Year ended 31.03.2020 has been extended by 3 Months for all companies A major relief has been granted by MCA by way of granting extension of 3 months for holding annual general meeting and hence Companies with AGM due date as 30.09.2020 can conduct their AGM by 31.12.2020. But […]...

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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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Valuers registered with IBBI under MCA Rules can only be appointed as IP

Order No. IBBI/DC/28/2020 (04/09/2020)

The DC further finds that despite the IBBI Circular No. IBBI Circular IBBI/RV/019/2018 dated 17th October 2018 (which came into effect from 1st February 2019) which clearly states that no person other than a RV will be appointed to conduct valuation under the Code, and Circular dated 13th August 2019 that such appointment is illegal, [&he...

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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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MCA maiden success in recovery of $3.25 million in Nirav Modi case from USA

Release ID: 1648579 (25/08/2020)

PNB has informed MCA which spearheaded the corporate governance litigation in a foreign jurisdictional Court, that it has received $ 3.25 million (equivalent of Rs. 24.33 crore) as the first tranche of recoveries....

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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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September 2020