18/07/2024
Summary of the MCA Notifications and Circulars dated 16/07/2024 and 17/07/2024.
These notifications and circulars are integrated in our free-to-use website ca2013.com.
MCA notifies the Companies (Appointment and Qualification of Directors) (Amendment) Rules, 2024.
Vide this notification, an individual who has been allotted a DIN may update their personal mobile number or email address by 30th September of the financial year and in case any update is required to be made beyond this due date, a fee of Rs. 500 shall apply.
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MCA notifies the Companies (Incorporation) Amendment Rules, 2024
Vide this notification, the word ‘Nidhi’ has been removed from the list of undesirable names.
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Waiver of additional fees for specified IEPF e-forms until 16th August 2024
Additional fees on filing of forms IEPF -1, IEPF-1A, IEPF-2, IEPF-4 and e- verification of claims filed in e-form IEPF-5 has been waived off till 16th August 2024. Additionally, a one-time relaxation for communication by the Authority of non-receipt of verification report along with documents after expiry of the given period has been provided till 16th August 2024.
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MCA notifies the Nidhi (Amendment) Rules, 2024
This notification provides that no company shall use the words ‘Nidhi Limited’ in its name unless the Central Government by notification in the Official Gazette has declared it to be a Nidhi Company.
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MCA notifies IEPF Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2024.
Vide this notification, the requirement under Forms IEPF 3 and IEPF 7 is now merged with form IEPF 4 and IEPF 1 respectively.
The existing Form IEPF1 has been amended to also include the amounts transferred on account of share transfers to the Fund. The following additional information now needs to be filed through IEPF 1-
- The entire fund information w.r.t. number of shares with the IEPFA on record date, dividend per share, total amount to be credited, the TDS Deducted and the net amounts credited.
- Surplus amount after payment of dues for Section 8 company before its conversion into any other kind.
- Amount received through disposal of securities under section 38(4) of Companies Act 2013
- Dividend on shares transferred to IEPF
- Proceeds realized on delisting of companies/banks with respect to shares transferred to IEPF
- Proceeds realized on winding up of companies/banks with respect to shares transferred to IEPF
- Surrender of shares under Section 236 of Companies, Act 2013
Form IEPF-2 has been amended to include the following:
- If the person being appointed as the nodal officer in the company, is an existing nodal officer in the holding or subsidiary company, and if so, the CIN of the holding or subsidiary company, as the case maybe.
- Updated details of the Deputy Nodal Officer
- Number of shares in the unclaimed suspense/demat suspense account of the company
- An excel file of investor wise details needs to be attached to the form
Form IEPF-5 has been amended to include more types of entities and respective formats of Identification/ Registration numbers.
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MCA issues Circular for merger of Forms IEPF-3 with IEPF-4 and IEPF-7 with IEPF-1 along with change in payment process thereof in MCA Version 3
In addition to the merger of the above-said forms, the processing will be through Straight through process and the amount to be transferred will be through ‘Pay Miscellaneous Fee’ service after selecting option ‘Investor Education and Protection Fund’.
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