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Ministry of Corporate Affairs

  1. Imposing fees on certain e- forms filed with ROC, RD or MCA (HQ) under MCA-21 where present no fee is prescribed -  MCA has in furtherance to its circular dated 21st June 2012 and 27th July, 2012 released General_Circular_22/2012 dated 3rd August, 2012 intimating that the fees on 23B has been further deferred for one week and shall now be applicable from 12th August, 2012.
  2. Filing of Balance Sheet and Profit and Loss account by Companies in Non-XBRL for accounting year commencing on or after 01-04-2011- MCA had vide General_Circular 21/2012 dated 2nd August, 2012 has intimated that all companies who are required to file non-XBRL eform 23AC & ACA as per revised schedule VI be allowed to file their financial statements without any additional fee/penalty  upto 15th September, 2012 or within 30 days from the date of their AGM, whichever is later.
  3. The Investor Education and Protection Fund (uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules 2012 -  MCA has in furtherance to its circular No. 17 dated 23rd July, 2012 released a General Circular 20/2012 dated 1st August, 2012 and clarified as follows:
    1. any Company, which has filed multiple Form 5 INV while uploading the information for the year 2010-11 on or before the date of issue of the said circular, should again file Form 5 INV (single) and upload the details of investors in excel template. This process should be completed by 31st August, 2012.
    2. All companies which have not yet filed Form # 5 INV are allowed to file Form 5 INV along with details of investors in excel template upto 31st August, 2012.
  4. Imposing fees on certain e-forms filed with ROC, RD or MCA(HQ) under MCA-21 where at present no fee is prescribed – With reference to the Ministry’s General Circular no. 14/2012 dated 21st June 2012, the MCA has vide General_Circular_19/2012 dated 27th July, 2012 deferred the fees payable on filing of Form 23B (Information by statutory auditor to the Registrar) for two weeks and shall now be applicable from 5th August, 2012.
  5. Filing of Cost Audit Report and Compliance Report in the eXtensible Business Reporting Language (XBRL) mode - MCA has vide General_Circular 18/2012. dated 26th July, 2012 intimated that that all cost auditors and concerned companies will be allowed to file their Cost Audit Reports and Compliance Reports for the year 2011-12 [including the overdue reports relating to any previous year(s)] with the Central Government in the XBRL mode, without any penalty, upto 31st December, 2012.
  6. The Investor Education and Protection Fund (uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules 2012 -  MCA vide its General_Circular No.17/2012 dated 23rd July, 2012 has clarified that Companies are required to file Form 5 INV for the year 2010-11 upto 31st July, 2012 or within 90 days of the date of AGM, whichever is later. It has also been clarified that the Company which has filed Form 5 INV but could not upload the correct excel template within 14 days of filing of Form INV, can file details of investors in excel template upto 31st August, 2012.
  7. Constitution of a Committee to formulate a policy document on Corporate Governance: In continuation to the Office memorandum dated 7th March, 2012, MCA has intimated vide   General_Circular/Office Memorandum. dated 29th June, 2012, that the Chairman of SEBI or his nominee shall also be the member of the Committee to formulate the policy document on Corporate Governance.
  8. Filing of Balance Sheet and Profit and Loss Account in Extensible Business Reporting Language(XBRL) Mode for financial year commencing on or after 1.4.2011: MCA Vide General Circular No. 16/2012 dated  6th July, 2012 has intimated the following  select classes of companies to file their Balance sheet and Profit and loss Account in XBRL mode for the financial year commencing on or after 01.04.2011.all companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; orall companies having paid up capital of Rupees five crore and above; orall companies having turnover of Rupees one hundred crore and above; orall companies who were required to file their financial statements for FY 2010-11, using XBRL mode.However, banking companies, insurance companies, power companies and Non-Banking Financial Companies (NBFCs) are exempted from XBRL filing t ill further orders.Further All companies referred  above, will be allowed to file their financial statements in XBRL mode without any additional fee/ penalty upto 15th November, 2012 or within 30 days from the date of their AGM, whichever is later.
  9. Companies (Central Government's) General Rules and Forms), 2012 – MCA had vide notification G.S.R(E). dated 26th July, 2012 notified that the Central Government has in exercise of the powers conferred by sub-section (1) of  section 642 read with section 610B of the Companies Act, 1956 (1 of 1956), made the rules further to amend the Companies (Central Government’s) General Rules and Forms, 1956 thereby bringing about changes in Form # 21 and 23 which shall come into effect from 12th August, 2012.
  10. Delegation of powers of Central Government to Registrar of Companies: MCA Vide Notification   S.0 (E) dated 10th July, 2012 has notified that in exercise of the power conferred by sub-Section (1) of Section 637 of the Companies Act 1956 (1of 1956), and in supersession of the notification of the Government of India, in the then Department of Company Affairs, number G.S.R. 222(E), dated the 17th March, 2011, except as respects things done or omitted to be done before such supersession, the Central Government  delegates to the Registrar of Companies, the power and functions vested in it under the following Sections of the said Act, subject to condition that the Central Government may revoke such delegation of powers or may itself exercise the powers and function under the said sections, if in its opinion such a course of act ion is necessary in the public interest , namely :-
  11. Section 21, 25, proviso to Subsection (1) of Section 31, Subsection (1D) of section 108, section 572. The powers and functions under sub-Section (1D) of Section 108 shall be exercised and performed either by the Registrar of Companies of the State in which the registered office of the Company is situated, or by the Registrar of Companies of the State in which the applicant ordinarily resides. The notification shall come into force with effect from 12.08.2012.
  12. Delegation of powers of Central Government to Regional Director: MCA Vide its Notification S.O. (E) dated 10th July, 2012 has notified that in exercise of the power conferred by sub-Section (1) of Section 637 of the Companies Act , 1956 (1 of 1956), and in supersession of the notification of the Government of India, in the then Department of Company Affairs, number G.S.R. 223(E), dated the 18th March, 2011, except as respects things done or omitted to be done before such supersession, the Central Government delegates to the Regional Directors at Mumbai, Kolkata, Chennai, Noida, Ahmedabad and Hyderabad, the power and functions vested in it under the following Sections of the said Act, subject to condition that the Central Government may revoke such delegation of powers or may itself exercise the powers under the said Sections, if in its opinion such a course of act ion is necessary in the public interest , namely :-
  13. Section 17, 18, 19 Section 22, sub-Section (3),(4),(7) and clause (a) of sub-Section (8) of Section 224, Section 141, Section 188, Section 297(1) proviso, Section 394-A, Section 400, second proviso to sub-Section (5) of Section 439 and sub Section (6) of the said Section. (j ) clause (a) of sub Section (1) of Section 496, clause (a) of sub Section (1) of Section 508, sub-Section (1) of Section 551, clause (b) of sub- Section (7) of Section 555 and the proviso to clause (a) of sub Section (9) of the said Section, (n) proviso to subsection (1) of section 610, and (o) section 627, This notification shall come into force with effect from 12.08.2012.
  14. Notifying certain sections of Companies (Second Amendment) Act, 2012: MCA Vide Notification S.O. (E) dated 10th July, 2012 has notified  that in exercise of powers conferred by sub-Section (2) of Section 1 of the Companies (Second Amendment ) Act , 2002 (11 of 2003), the Central Government hereby appoints the 12th day of August of 2012 as the date on which the provisions of Sections 7, 8 (in relation to Section 18 & 19 of the Companies Act , 1956), 20 and 25 (in relation to Section 188 of the Companies Act , 1956) of the said Act shall come into force.
  15. Company Law Board (Fees on Application and Petitions) (Amendment) Rules, 2012: MCA Vide  General Notification G.S.R. (E) dated 10th July, 2012  has intimated  that in Company Law Board (Fees on Application and Petitions) Rules, 1991, in the Schedule, serial numbers 1, 2, 3, 13, 18 and the entries relating thereto shall be omitted.
  16. Limited Liability Partnership (Winding up and Dissolution) Rules, 2012: MCA Vide  General Notification G.S.R. (E) dated 10th July ,2012 circulated the Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
  17. They shall come into force on the date of their publication in the Official Gazette.
  18. Companies (Central Government's) General Rules and Forms), 2012 - New Form 24AAA: MCA Vide  General Notification G.S.R. (E) dated 10th July, 2012 informed about the  further  amendment to the Companies (Central Government's) General Rules and Forms, 1956. These shall come into force with effect from 12.08.2012.
 
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