CAIRR Update March 19, 2020

March 19, 2020   Summary of bulletin issued by MCA on 18/03/2020 1. Relaxation in holding Board Meeting with physical presence of Directors to enable people take necessary precautions against coronavirus MCA has issued a bulletin on its website confirming the government’s in-principle decision to relax the requirement of holding Board Meeting’s with physical presence [...]

By | 2020-05-04T17:16:37+00:00 March 19th, 2020||0 Comments

CAIRR Update March 18, 2020

March 18, 2020   Summary of Circular issued by IBBI on 17/03/2020 1. Feature for modification of CIRP Forms submitted by an Insolvency Professional (IP)  IBBI has now enabled a feature on the platform to facilitate the Insolvency Professionals to modify an already filed form. The modification shall not be subject to additional fees until [...]

By | 2020-05-04T17:04:47+00:00 March 18th, 2020||0 Comments

CAIRR Update March 16, 2020

March 16, 2020   Summary of Notifications issued on 12/03/2020 and 13/03/2020 1. Revisions to e-Forms GNL- 2 and INC- 28 vide Companies (Registration Offices and Fees) Second Amendment Rules, 2020 and Companies Incorporation (Second Amendment) Rules, 2020 respectively   Further to the circulars issued by MCA on 17/02/2020 and 06/03/2020, directing Insolvency Professionals to [...]

By | 2020-03-16T15:53:48+00:00 March 16th, 2020||0 Comments

CAIRR Update March 13, 2020

March 13, 2020   Summary of the circular issued by MCA  12/03/2020 1. Extension of due date to 30/06/2020 for filing of Financial Statements for the FY 2018-19 for companies falling under UT of J&K and Ladakh jurisdiction    MCA, vide its circular dated 12/03/2020, has extended the due date to 30/06/2020 from its earlier deadline of 31/03/2020  for [...]

By | 2020-03-13T12:02:49+00:00 March 13th, 2020||0 Comments

CAIRR Update March 11, 2020

March 11, 2020   Summary of the circular issued by MCA on 05/03/2020 1. MCA extends due date for filing form NFRA – 2 for FY 18-19   MCA vide this circular has extended the deadline for filing form NFRA – 2 from 90 days to 150 days from the date of deployment of the [...]

By | 2020-03-11T15:16:24+00:00 March 11th, 2020||0 Comments

CAIRR Update March 09, 2020

March 06, 2020   Summary of the General Circular issued by MCA 06/03/2020 1. MCA clarifies with respect to filing of necessary forms with MCA, by Insolvency Professionals(IPs), upon initiation of insolvency proceeding of a company under IBC, 2016   Further to MCA’s circular dated 17/02/2020, directing IPs to file necessary forms with MCA, a [...]

By | 2020-03-09T13:07:31+00:00 March 9th, 2020||0 Comments

CAIRR Update March 05, 2020

March 05, 2020   Summary of the circular issued by MCA on 04/03/2020 1. MCA notifies LLP Settlement Scheme, 2020 to give a one-time relaxation in additional fees and prosecution to defaulting LLPs thereby promoting ease of doing business   In line with extension of Section 460 of Companies Act, 2013 for condonation of delay [...]

By | 2020-03-05T12:01:04+00:00 March 5th, 2020||0 Comments

CAIRR Update March 04, 2020

March 04, 2020   Summary of general circular issued by MCA on 02/03/2020 1. MCA issues clarification with respect to prosecutions/internal adjudication proceeding issued against Independent Directors (IDs), Non-Promoters, and Non-Executive directors (NEDs)   Through this circular, MCA has issued Standard Operating Procedure to be followed by the Registrars with respect to initiation of proceedings [...]

By | 2020-03-04T13:00:16+00:00 March 4th, 2020||0 Comments

CAIRR Update March 03, 2020

March 03, 2020   Summary of the Notification and Corrigendum issued by MCA on 02/03/2020 1. MCA notifies amendment to provisions with respect to Government Companies declared under the Companies Act, 2013   MCA, vide this notification, amends its previous notification vide G.S.R.463(E) dated 05/06/2015, including insertion of explanation to definition of “Government Company” and [...]

By | 2020-03-03T13:31:30+00:00 March 3rd, 2020||0 Comments

CAIRR Update March 02, 2020

March 02, 2020   Summary of the notification issued by MCA on 28/02/2020 1. MCA extends deadline to 1st May, 2020 for Independent Directors to get their names listed in the Online Data Bank   MCA, vide Companies (Appointment and Qualification of Directors) Amendment Rules, 2020, has amended Rule 6 of the aforesaid rules to extend [...]

By | 2020-03-02T12:27:37+00:00 March 2nd, 2020||0 Comments
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