Legal Updates - Corporate Law Reporter

Note on relaxations issued by MCA due to COVID-19 Outbreak

In view of the COVID-19 Pandemic outbreak, Ministry of Corporate Affairs (“MCA”) has extended its wholehearted support in order to combat with the situation. Due to this lockdown, Companies are facing issues w.r.t. conducting Meetings and filing of Returns. In order to smoothly continue the Business Operations of the Corporates in India, MCA has taken… Read More

MCA issues COVID-19 related FAQs on Corporate Social Responsibility (CSR)

MCA vide circular dated 10th April, 2020 has issued Frequently Asked Questions(FAQs) to clarify and to bring more clarity on eligibility of CSR expenditure related to COVID-19 activities. It has been provided that: Following items shall qualify for as CSR expenditure: Contribution made to ‘PM CARES Fund’ Contribution made to State Disaster Management Authority to… Read More

Relaxation by MCA on passing Ordinary and Special Resolution due to COVID-19

MCA vide circular dated 8th April, 2020 relaxes provisions related to passing Ordinary and Special resolution in member's meeting in view of the current extraordinary circumstances due to the pandemic caused by COVID- 19 prevailing in the country, requiring social distancing. Companies are requested to take all decisions of urgent nature requiring the approval of… Read More

MCA extends the timeline for inclusion of name in Data Bank of Independent directors

MCA vide Notification dated 28th February, 2020 extends the timeline for online application to Indian Institute of Corporate Affairs at Manesar for inclusion of name of Director in Data Bank of Independent Directors from 3 months to 5 months. Further, it amends the criteria for exemption from passing online proficiency self-assessment test. Now, the individual… Read More

Filing of EPFO/ ESI Returns by the Companies incorporated through SPICe+

MCA vide news & important updates notified that new Companies incorporated through SPICe+ and thereby have obtained Employees' Provident Fund Organisation(EPFO)/ Employees' State Insurance (ESI) numbers will have to file Statutory Returns only when they cross thresholds prescribed under the relevant Acts. Read More

Filing of Returns by the Insolvency Professional appointed under Insolvency Bankruptcy Code, 2016

MCA vide circular dated 17th February, 2020 notified that the Insolvency Professional (lnterim Resolution Professional (lRP) or Resolution Professional (RP) or Liquidator) as appointed under Insolvency Bankruptcy Code, 2016, would have to first file the NCLT order approving him as the IRP/RP/Liquidator in form INC-28 on the MCA Portal. Procedure to be followed while filing… Read More

Section 460 of CA,2013 regarding Condonation of Delay is now applicable to LLPs also

MCA vide its Notification dated 30th January, 2020 provides that the provisions of Section 460 of the Companies Act, 2013 regarding Condonation of Delay, shall now be applicable on Limited Liability Partnership(LLPs) also, with effect from 30th January, 2020. The Complete notification is attached herewith: NotificationLLP_31012020 Read More

Extension of last date of filing of forms MGT-7 and AOC-4 in UT of J&K and UT of Ladakh

MCA vide its Circular dated 31st January, 2020 extends last date of filing of e-forms AOC-4, AOC-4 (CFS) AOC-4 XBRL and e-form MGT-7 for the financial year ended 31st March, 2019 upto 31st March, 2020 for companies having jurisdiction in the UT of J&K and UT of Ladakh without levy of additional fee due to… Read More

MCA extends last date for filing of AOC-4 of NBFCs pending deployment of new e- forms AOC-4 NBFC(Ind AS) and AOC-4 CFS NBFC(Ind AS)

MCA vide circular dated 30th January, 2020 informed that two new e-forms namely AOC-4 NBFC(Ind AS) and AOC-4 CFS NBFC(Ind AS) are likely to be deployed on 31st January,2020 and 17th February, 2020 respectively. In view of the above, MCA extends the last date for filing of AOC-4 NBFC(Ind AS) and AOC-4 CFS NBFC(Ind AS) … Read More

MCA notifies Companies (Winding Up) Rules, 2020 effective from 1st April, 2020

MCA vide notification dated 24th January, 2020 published Companies (Winding Up) Rules, 2020 for laying down procedures for winding up by the Tribunal under Section 272 of the Companies Act, 2013 which will be effective from 1st April, 2020. The complete notification is attached herewith: Rules_28012020 Read More

SPICe+ : MCA to deploy new integrated form for Incorporation

MCA has issued following important updates regarding proposed changes in procedure for Name Reservation and Incorporation of a new Company: MCA would be shortly notifying & deploying a new Web Form ‘SPICe+’ replacing the existing SPICe form as a part of Government of India’s Ease of Doing Business(EODB) initiatives. SPICe+ would be an integrated Web form… Read More

MCA amends limit for appointment of Whole Time Company Secretary and Secretarial Audit

MCA vide notification dated 6th January, 2020 amended Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 to bring out changes in the scope of appointment of Company Secretary and Secretarial Audit to be effective from 1st April, 2020. Below are the amendments made under Rule 8A and Rule 9 pursuant to section 203 and… Read More

Extension of last date of filing of Form BEN-2

MCA vide circular dated 1st January, 2020 extends time limit for filing of Form BEN-2 (Return to the Registrar in respect of declaration under section 90) upto 31st March, 2020. BEN-2 has to be filed within 30 days from the receipt of declaration in Form BEN-1( declaration of Significant Beneficial Ownership by SBO). Accordingly last… Read More