MCA has extended the validity of certain exemptions available to enterprises by five more years keeping with its policy of ease of doing business in India.
MCA in its notification dated March 16, 2022, has extended the validity of certain exemptions available to enterprises by 5 more years keeping with its policy of ease of doing business in India.
PRESS NOTE 1 OF 2022
On March 14, 2022, the Department for Promotion of Industry and Internal Trade (“DPIIT”) released a Press Note issuing clarifications and amendments to certain provisions of the Consolidated FDI Policy Circular of 2020 (“FDI Policy”). The amendments shall take effect from the date of relevant FEMA notification’ which is yet to be released. The major amendments […]
MCA inserted a sub-rule (1B) in rule 12 of Companies (Accounts) Rules, 2014 mandating every company covered under sub-section (1) to section 135, to furnish a report on Corporate Social Responsibility in Form CSR-2 to the Registrar as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS),
The Ministry of Corporate Affairs vide notification dated February 11, 2022, published Companies (Accounts) Amendment Rules, 2022 to further amend Companies (Accounts) Rules, 2014. In the Companies (Accounts) Rules, 2014 in rule 12, after sub-rule (IA), the following sub-rule shall be inserted, namely: – “(IB) Every company covered under the provisions of sub-section (1) to section 135 […]
MCA relaxes levy of additional fees in 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. 22/ 2021 dated December 29, 2021 has declared that no additional fees shall be levied upto 15.02.2022 for the filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL, AOC-4 Non-XBRL and upto 28.02.2022 for filing of e-forms MGT-7/ MGT-7A in respect of the financial year ended on 31.03.2021 respectively. During […]
Introduction of Legal Entity Identifier (LEI) for Cross-border Transactions
The Reserve Bank of India vide Circular A.P.(DIR Series) bearing no: 20 dated December 10, 2021 notified that with effect from October 01, 2022, the AD Category I banks shall obtain the LEI number from the resident entities (non-individuals) undertaking capital or current account transactions of Rs. 50 crore and above (per transaction) under FEMA, 1999. As […]
Subsequent to this, MCA vide its General Circular No. 3/2022 dated May 05, 2022, issued clarification on passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with rules made thereunder on account of COVID-19-Extention of timeline-reg.
In continuation to Ministry’s General Circular No. 14/2020 dated 08.04.2020, General Circular No. 17/2020 dated 13.04.2020, General Circular No. 22/2020 dated 15.06.2020, General Circular No. 33/2020 dated 28.09.2020, General Circular No. 39/2020 dated 31.12.2020, General Circular No. 10/2021 dated 23.06.2021, and General Circular No. 20/2021 dated 08.12.2021, MCA decided to: