March 25, 2021 Summary of the notifications issued by MCA on 24/03/2021 MCA relaxes penal provisions with respect to Unpaid Dividend Account and Valuation by a Registered Valuer as per the Companies Amendment Act, 2020 Through this notification, MCA has relaxed penal provisions under the Companies Act, 2013 with respect to contravention of the [...]
March 19, 2021 Summary of the notifications and circular issued by MCA and IBBI on 18/03/2021 MCA notifies the commencement of provision related to remuneration of non-executive directors in case of inadequate/nil profits. MCA has notified the provision that non-executive director, including an independent director, can be remunerated by the Company in case [...]
March 08, 2021 Summary of the notifications and circular issued by MCA and IBBI on 05/03/2021 and 04/03/2021 respectively MCA notifies the commencement of the provision with respect to abridged Annual Return for One Person Company and Small Company under the Companies Act, 2013 MCA has notified the provision that empowers Central Government [...]
March 05, 2021 Summary of the notification issued by IBBI on 04/03/2021 IBBI notifies Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2021 Through this amendment, the requirement, as specified in Regulation 31(2), to announce the filing of list of stakeholders with the Adjudicating Authority through public announcement in newspapers in [...]
February 22, 2021 Summary of the notification issued by MCA on 19/02/2021 MCA exempts certain class of Companies from the definition of ‘Listed Company’ under the Companies Act, 2013 with effect from 01/04/2021 In a move to further improve the ease of doing business in India by reducing compliance burden, MCA has excluded [...]
February 10, 2021 Summary of the circular issued by SEBI on 09/02/2021 SEBI notifies revised disclosure formats by specified persons under Regulation 7 of the PIT Regulations, 2015 Further to the amendments made to Regulation 7 of the PIT Regulations, 2015, requiring member of the promoter group and designated person (in place of [...]
February 5, 2021 Summary of the Circular issued by IBBI on 02/02/2021 Applicants can submit a copy of the application via online to the Board under Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 Through this Circular, IBBI [...]
February 3, 2021 Summary of the notification issued by MCA on 01/02/2021 MCA eases norms for One Person Company (OPC) incorporated under the Companies Act, 2013 and its Rules with effect from 01/04/2021 Key highlights of the Companies (Incorporation) Second Amendment Rules, 2021 are: 1. Non-resident Indians can also incorporate OPC and the minimum [...]
February 02, 2021 Summary of the notifications issued by MCA on 01/02/2021 MCA amends criteria for a company to be classified as a Small Company under the Companies Act, 2013 with effect from 1st April, 2021 Through this amendment, any Company, other than a public Company, with paid up capital and turnover as per [...]
February 01, 2021 Summary of circulars issued by MCA, BSE and NSE on 28/01/2021. MCA extends deadlines for filing AOC-4, AOC-4(CFS), AOC-4(XBRL) and AOC-4(Non XBRL) for the financial year ended 31st March, 2020 under the Companies Act, 2013 to 15/02/2021 Through this notification, MCA has extended the deadline for filing AOC-4, AOC-4(CFS), AOC-4(XBRL) and [...]