March 23, 2020 Key Compliance under Companies Act, 2013 and IB Code, 2016 Amendment! 1. Deployment of form on “Company Affirmation of Readiness towards COVID-19” Having made an appeal to the corporate sector for implementing a strategic policy on social distancing, which is most critical for reducing community transmission of the Novel [...]
March 20, 2020 Summary of Notifications and Circulars issued by MCA and SEBI on 19/03/2020 and 18/03/2020 1. The Companies (Meetings of Board and its Powers) Amendment Rules, 2020 In line with MCA bulletin on its website confirming the government’s in-principle decision to relax the requirement of holding Board Meeting’s with physical [...]
March 19, 2020 Summary of bulletin issued by MCA on 18/03/2020 1. Relaxation in holding Board Meeting with physical presence of Directors to enable people take necessary precautions against coronavirus MCA has issued a bulletin on its website confirming the government’s in-principle decision to relax the requirement of holding Board Meeting’s with physical presence of [...]
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 [...]
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 [...]