Summary of administrative changes vide notification in the Companies Act, 2013 issued on 07.06.2019 are listed below: The Companies (Incorporation) Sixth Amendment Rules, 2019 w.e.f., 15.08.2019 a. A person or an association desirous of incorporating a company under section 8 i.e., Not for Profit Organisation, under the Companies Act, 2013 shall make an application [...]
Summary of Notification in Companies Act, 2013 issued on 30/05/2019 is provided below: Notification amending Schedule VII of the Companies Act, 2013: Through this notification, Central Government amends Schedule VII which lists the areas of Corporate Social Responsibility (CSR) by inserting ‘disaster management, including relief, rehabilitation and reconstruction activities’ as one of the CSR [...]
Summary of Notification in Companies Act, 2013 issued on 21/05/2019 and Circular issued by SEBI on 27/05/2019 are provided below: MCA Notification on Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Third Amendment Rules, 2019. Through this notification, MCA has omitted sub-rule(2) in [...]
Summary of Rule and Notification in Companies Act, 2013 issued on 22/05/2019 is provided below: National Financial Reporting Authority (Meeting for Transaction of Business) Rules, 2019: MCA has introduced new Rule to define the procedure to be undertaken by the Authority with regard to convening meetings, eligibility of persons to attend the meeting, maintenance [...]
Summary of Circular in Companies Act, 2013 issued on 16/05/2019 is provided below: MCA Notification on National Financial Reporting Authority (Recruitment, Salary, Allowances and Other Terms and Conditions of Service of Secretary, Officers and Other Employees of Authority) Rules, 2019. MCA has introduced a new Rule to define the procedure to be followed by [...]
Summary of Notification in the Companies Act, 2013 issued on 16/05/2019 is listed below: The Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2019: Rule 12B is inserted which provides that the DIN allotted to the existing directors of a company that has not filed e-form ACTIVE within the period specified (i.e., June 15, 2019) [...]
Summary of Circular in Insolvency and Bankruptcy Code, 2016 issued on 14/05/2019 is provided below: IBBI Circular on Insolvency Professionals to act as Interim Resolution Professionals and Liquidators (Recommendation) Guidelines, 2019 This circular replaces the ‘Interim Resolution Professionals or Liquidators (Recommendation) (Second) Guidelines, 2018’ which shall come into effect from 1st July, 2019. The [...]
General Circular No. 06/2O19: Clarification for form ADT-1 filed through GNL-2 under the Companies Act, 2013 dated 13.05.2019 MCA vide its Circular dated 13.05.2019 has clarified that the companies which had filed Form ADT-1 through GNL-2 as an attachment (by selecting 'others') during the period from 01.04.2014 to 20.10.2014 may file Form ADT-1 for appointment [...]
The Companies (Incorporation) Fifth Amendment Rules, 2019: Through this Amendment, Sub-Rule 8 pertaining to undesirable names is substituted to classify and segregate this rule into three different rules- a. Rule 8 (Names which resemble too nearly with name of existing company): The amendment illustrates the matters that are to be disregarded while comparing if [...]
Summary of Notifications in the Companies Act, 2013 issued on 08/05/2019 are listed below: The Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2019: Through this Amendment, MCA has increased the fee to be paid by Companies along with the application to the Registrar for removal of its name [...]