CAIRR Update January 31, 2023

Home/ Update January 31, 2023

CAIRR Update January 31, 2023

January 31, 2023

Summary of the Notification issued by MCA on 21/01/2023

This notification is integrated in our free-to-use website

MCA revises e-forms SH-7, SH-8, SH-9 and SH-11 under the Companies (Share Capital and Debentures) Amendment Rules, 2023 w.e.f. 23/01/2023

1. SH-7 (Notice to Registrar of any alteration of share capital):

The form is amended to include the following details:
  • Voting by members at the general meeting
  • Appeal to the Tribunal against the order of the Central Government
  • Order of Tribunal- Date of passing of order and receipt of the same

It can now be filed for cancellation of unissued shares of one class and increase in shares of another class. Working for calculation of ratios in case of conversion is required to be attached to the form.

2. SH-8 (Letter of offer):

The form is amended to include the following details:

  • Default in repayment of deposits, interest on deposits, debentures, preference shares, term loans to financial institutions or bank, interest of term loans and payment of dividend to shareholders
  • Default in compliance with sections 92, 123, 127 and 129 of the Companies Act, 2013
Requirement to submit information such as objective of buyback and expected capital structure before and after buyback is done away with.

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

  • Details of promoters of the Company
  • Notice of the general meeting along with the explanatory statement
  • Audited financial statements and buyback details of last 3 years

3. SH-9 (Declaration of solvency):

The requirement to attach board resolution and special resolution has been done away with.

4. SH-11 (Return in respect of buy-back of securities):

The form is amended to include the details such as source of buyback and Promoter wise shareholding details. Details pertaining to the stock exchanges where the company is listed and the merchant banker appointed by the Company are no longer required to be submitted. The requirement to submit the balance sheet and Certificate of compliance of buy-back rules is dispensed with.

5Form SH-15 (Certificate of compliance in respect of buy-back of securities) is omitted.

Click here to view the MCA Notification on Companies (Share Capital and Debentures) Amendment Rules, 2023


By | 2023-02-01T14:05:13+00:00 February 1st, 2023||0 Comments

About the Author:

Leave A Comment

Schedule a demoGo to CAIRRSubscribe to Newsletter