MCA further relaxes the levy of additional fees in the filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL, AOC-4 Non-XBRL, and MGT-7/ MGT-7A
The Ministry of Corporate Affairs vide General Circular no. 01/ 2022 dated February 14, 2022, has declared that no additional fees shall be levied up to 15.03.2022 for the filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL, AOC-4 Non-XBRL, and up to 31.03.2022 for filing of e-forms MGT-7/ MGT-7A in respect of the financial year ended on 31.03.2021 […]
Foreign Exchange (Compounding Proceedings) Rules, 2024
The Ministry of Finance (Department of Economic Affairs) vide its Notification dated 12th September, 2024 issued the Foreign Exchange (Compounding Proceedings) Rules, 2024 (“Amended Rules”) that supersede the Foreign Exchange (Compounding Proceedings) Rules, 2000 (“Erstwhile Rules”). While a large portion of the Erstwhile Rules remains untouched, key changes have been incorporated under Rule 4, apart from a newly […]
Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2024
The Ministry of Finance has, by way of notification dated August 16th, 2024, amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (‘Principal Rules’) with effect from the date of the notification. The key amendments brought about by the amendment are set out below: 1.Definition of Control Pursuant to the amendment, the Principal Rules now provide for […]
MCA allows companies to conduct their EGMs through VC or OAVM
The Ministry of Corporate Affairs vide General Circular no. 20/ 2021 dated December 08, 2021 has decided to allow companies to conduct their EGMs through Video Conference (VC) or Other Audio Visual Means (OAVM) or transact items through postal ballot upto June 30, 2022.
MCA extends the time for filing of e-form DIR-3-KYC and web-form DIR-3-KYC-WEB, without fee
MCA vide its notification dated September 28, 2022 has extended the time for filing of e-form DIR-3-KYC (to be filed by every DIN holder who is filing his KYC details for the first time with MCA and any DIN holder who wants to update any information of his KYC details) and web-form DIR-3-KYC-WEB (to filed mandatorily by […]
MCA clarifies the mandating Companies to round off figures appearing in Financial Statements
MCA vide an update dated September 26, 2022, clarifies the following: “CLARIFICATION: Amendment to Schedule III to the Companies Act, 2013 vide MCA Notification GSR. 207(E) dated March 24, 2021 mandates companies to round off the figures appearing in the Financial Statements depending upon their total income. However, if the companies provide absolute figures in e-forms ie. AOC-4, the […]
MCA amends the Companies (Corporate Social Responsibility Policy) Rules, 2014
MCA vide its notification dated September 20, 2022 amended the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as “the said rules”) and called it the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022 (“the said amendment”). In the said amendment:
MCA amends the Companies (Specification of Definition Details) Rules, 2014
MCA vide its notification dated September 15, 2022 amends the Companies (Specification of definition details) Rules, 2014 and called it the Companies (Specification of definition details) Amendment Rules, 2022. In the Companies (Specification of definition details) Rules, 2014, in rule 2, in sub-rule (1), for clause (t), the following clause is substituted: “(t) For the purposes of […]
MCA amends the notification of the GOI, notifying Corporate Debtors competent to make an application for fast track Corporate Insolvency Resolution Process
MCA vide its notification dated August 30, 2022 amended the notification of the Government of India, in the Ministry of Corporate Affairs, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide S.O. 1911(E), dated June 14, 2017 (“said notification”). In the said notification, clause (b) is substituted by the following: “(b) a Startup (other […]
MCA amends the Companies (Registration of Charges) Rules, 2014
MCA vide its notification dated August 29, 2022 amended the Companies (Registration of Charges) Rules, 2014 and called it the Companies (Registration of Charges) Second Amendment Rules, 2014.