March 18, 2020 Summary of Circular issued by IBBI on 17/03/2020 1. Feature for modification of CIRP Forms submitted by an Insolvency Professional (IP) IBBI has now enabled a feature on the platform to facilitate the Insolvency Professionals to modify an already filed form. The modification shall not be subject to additional fees until [...]
March 16, 2020 Summary of Notifications issued on 12/03/2020 and 13/03/2020 1. Revisions to e-Forms GNL- 2 and INC- 28 vide Companies (Registration Offices and Fees) Second Amendment Rules, 2020 and Companies Incorporation (Second Amendment) Rules, 2020 respectively Further to the circulars issued by MCA on 17/02/2020 and 06/03/2020, directing Insolvency Professionals to [...]
March 13, 2020 Summary of the circular issued by MCA 12/03/2020 1. Extension of due date to 30/06/2020 for filing of Financial Statements for the FY 2018-19 for companies falling under UT of J&K and Ladakh jurisdiction MCA, vide its circular dated 12/03/2020, has extended the due date to 30/06/2020 from its earlier deadline of 31/03/2020 for [...]
March 11, 2020 Summary of the circular issued by MCA on 05/03/2020 1. MCA extends due date for filing form NFRA – 2 for FY 18-19 MCA vide this circular has extended the deadline for filing form NFRA – 2 from 90 days to 150 days from the date of deployment of the [...]
March 06, 2020 Summary of the General Circular issued by MCA 06/03/2020 1. MCA clarifies with respect to filing of necessary forms with MCA, by Insolvency Professionals(IPs), upon initiation of insolvency proceeding of a company under IBC, 2016 Further to MCA’s circular dated 17/02/2020, directing IPs to file necessary forms with MCA, a [...]
March 05, 2020 Summary of the circular issued by MCA on 04/03/2020 1. MCA notifies LLP Settlement Scheme, 2020 to give a one-time relaxation in additional fees and prosecution to defaulting LLPs thereby promoting ease of doing business In line with extension of Section 460 of Companies Act, 2013 for condonation of delay [...]
Use of jargons is a key aspect of quick and effective communication in specialized fields. Jargons are words or phrases unique to that field and not used elsewhere. With the advent of smart phone, IT jargons have entered many aspects of generic human life in the last two decades. The world of company secretaries [...]
March 04, 2020 Summary of general circular issued by MCA on 02/03/2020 1. MCA issues clarification with respect to prosecutions/internal adjudication proceeding issued against Independent Directors (IDs), Non-Promoters, and Non-Executive directors (NEDs) Through this circular, MCA has issued Standard Operating Procedure to be followed by the Registrars with respect to initiation of proceedings [...]
March 03, 2020 Summary of the Notification and Corrigendum issued by MCA on 02/03/2020 1. MCA notifies amendment to provisions with respect to Government Companies declared under the Companies Act, 2013 MCA, vide this notification, amends its previous notification vide G.S.R.463(E) dated 05/06/2015, including insertion of explanation to definition of “Government Company” and [...]
March 02, 2020 Summary of the notification issued by MCA on 28/02/2020 1. MCA extends deadline to 1st May, 2020 for Independent Directors to get their names listed in the Online Data Bank MCA, vide Companies (Appointment and Qualification of Directors) Amendment Rules, 2020, has amended Rule 6 of the aforesaid rules to extend [...]
