Legal Updates

Companies (Amendment) Act, 2019 notified w.e.f 31st July, 2019

After getting clearance from both the houses, "The Companies (Amendment) Act, 2019" has been notified in the Official Gazette dated July 31, 2019 after receiving assent from the President. The provisions of this Act, shall be deemed to have come into force on November 2, 2018 except sections 6, 7 and 8, clauses (i), (iii)… Read More

RBI liberalizes restriction on end use of External Commercial Borrowings

RBI vide notification dated 30th July, 2019 has liberalized the restriction on end use of External Commercial Borrowings. As per the notification, eligible borrowers who satisfy certain conditions mentioned therein, will now be permitted to raise ECBs for specified purposes from recognized lenders, except foreign branches/ overseas subsidiaries of Indian banks. The conditions along with… Read More

MCA revises Form AOC-4 XBRL, CHG-1, CHG-8 and CHG-9

MCA has revised Form AOC-4 XBRL, CHG-1, CHG-8 and CHG-9 w.e.f 1st August, 2019. Stakeholders are advised to check the latest version before filing. Read More

MCA extends due date of filing Form BEN-2

MCA vide General Circular No. 08/2019 extended due date of filing Form BEN-2 to 30th September, 2019 without additional fees. The complete circular is attached herewith: GeneralCircular29072019   Read More

DIR-3-KYC-WEB service available on MCA portal- Due date 30th September, 2019

MCA notifies Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 w.e.f 25th July 2019 and made following amendments: i) e-Form DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in… Read More

MCA issues Press Release on amendments in Insolvency and Bankruptcy Code (Amendment) Bill, 2019

MCA issued Press Release Note dated 17th July, 2019 on “Insolvency and Bankruptcy Code (Amendment) Bill, 2019” pertaining to the Union Cabinet's recent approval to the proposed amendments to the Insolvency and Bankruptcy Code, 2016. The amendments aim to fill critical gaps in the corporate insolvency resolution framework and maximizing value from the Corporate Insolvency… Read More

MCA revises Form BEN-2

MCA revises Form BEN-2 on MCA portal w.e.f  17th July, 2019. Stakeholders are advised to check the latest version before filing. Read More

RBI extends due date of filing of FLA return

In view of the recent change in reporting platform for submission of FLA return, RBI extends the due date for filing the FLA return to July 31, 2019 for convenience of reporting for F.Y. 2018-19.   Read More

Form NFRA-1 available on NFRA Portal- Last date to file form is 31st July, 2019

In furtherance to MCA General Circular No.12/2018, National Financial Reporting Authority vide notification no. NF-11/1/2019-O/o Secy-NFRA dated 1st July, 2019 intimates that Form NFRA-1 has been deployed on the website of NFRA ( w.e.f 1st July, 2019  and clarifies that the last date for filing of form is 31st July, 2019. The detailed notification is… Read More

Deployment of Form BEN-2

Form BEN-2 (Return to the Registrar in respect of declaration under Section 90) notified vide the Companies (Significant Beneficial Owners) second Amendment Rules, 2019 dated 1st July 2019 is available for filing purposes now. Read More

MCA notified new format of Form BEN-2

MCA vide notification F.No.1/1/2018 CL-V dated 1st July, 2019 amends Companies (Significant Beneficial Owners) Rules, 2018 and provides for new format of Form No. BEN-2. The new e-Form shall be available on MCA portal w.e.f 2nd July, 2019 and accordingly Form BEN-2 shall be filed within 30 days of its deployment on the portal as… Read More

MCA amends Nidhi Company Rules

MCA vide Nidhi (Amendment) Rules 2019 amends rules for Nidhi Companies effective from 15th August,2019. In the amended Rule it provides definition of a Nidhi Company, amends provisions related to incorporation and compliances of Nidhi Companies.  Copy of the Nidhi (Amendment) Rules 2019 can be referred from the link below- NidhiRules_01072019   Read More

MCA substitutes new provisions of Section 406 related to Nidhi Companies

MCA vide notification File No. 1/1 /2018-CL-I dated 1st July, 2019 notifies, Section 81 of Companies (Amendment) Act, 2017 to make it effective from 15th August, 2019. This section substitutes the provisions of Section 406 i.e. power to modify act in its application to Nidhis. MCA commencement notification attached for the reference- CommencementNotification_01072019   Read More

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