CAIRR Update January 24, 2023

January 24, 2023

Summary of the Notifications issued by MCA on 19/01/2023 and 20/01/2023

These notifications are integrated in our free-to-use website ca2013.com. 

Key highlights of the amendment are:

The e-form URC-1, which is the application for conversion of LLP or firm to a Company limited by shares or guarantee or unlimited company and conversion of society or trust to company limited by guarantee under section 8, is amended to incorporate the below changes:

1. The applicant is required to provide details of advertisement published in English and Vernacular language along with the objections received till date

2. Additionally, the applicant is required to furnish the below documents:

• Resolution of unregistered companies in case of Chapter XXI (Part I) companies
• Copy of objections received from companies along with details of resolutions provided

3. The requirement to attach the following documents has been dispensed with:

• Written consent from the secured creditors
• Written consent from majority of members agreeing for such registration
• Undertaking that the proposed directors shall comply with the requirements of the Indian Stamp Act, 1899

Click here to view the MCA Notification on Companies (Authorised to Register) Rules, 2023

MCA notifies the Nidhi (Amendment) Rules, 2023 w.e.f. 23/01/2023

MCA revises e-forms NDH-1, NDH-2, NDH-3 and NDH-4

1. NDH-1 (Return of Statutory compliances):

The form is amended to capture additional information including the following:

• Date of incorporation of the Company
• Financial year end date

2. NDH-2 (Application to Regional Director and Intimation to the Registrar)

The form is amended to capture additional information including the following:

• Purpose of application
• Details of branches/ collection centres
• Profit during the preceding 3 financial years

3. NDH-3 (Half yearly return)

The form is amended to capture additional information including the following:

• Number of branches at the beginning and end of the half year
• Profit during the preceding 3 financial years
• Financial Summary- Free Reserves, Accumulated losses, Other intangible assets, and Net Owned Funds

The requirement to attach Advertisement copy along with copy of intimation given to Registrar has been dispensed with.

4. NDH-4 (Form for filing application for declaration as Nidhi Company and for updation of status by Nidhis)

The form is amended to capture additional information including the following:

• Financial parameters- Paid up equity share capital, Free Reserves, Accumulated losses, Other intangible assets, and Net Owned Funds
• Deposit details
• Profits during the preceding 3 financial years

Further, the following documents are to be attached to the form:

• List of all members with PAN, complete residential address and amount of deposit accepted
• Break-up of deposits with bank/PO name, branch and account number
• Declaration with regard to fulfilment of fit and proper Person criteria by all Promoters and Directors of the company