March 5, 2015
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- The Companies (Registration Offices and Fees) Amendment Rules 2015:
In exercise of the powers conferred by Sections 396, 398, 399, 403 & 404 of the Companies Act, 2013, the central Govt has made the following rules on 24th February, 2015 to amend the Companies (Registration Offices & Fees) Rules, 2014.
In Rule 10 the following sub-rule shall be inserted
- “7. Any further information or documents called for, in respect of application or e-form or document, filed electronically with the MCA shall be furnished in the form GNL-4 as addendum.”
- In the Annexure, after Form GNL-3, the Form GNL-4 has been inserted.
- Companies (Declaration and Payment of Dividend) (Amendment) Rules, 2015. In exercise of the powers conferred under sub-section (l) of section 123 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government has made rules on 24th Feb, 2015 further to amend the Companies (Declaration and Payment of Dividend) Rules, 2014, namely Companies (Declaration and Payment of Dividend) (Amendment) Rules, 2015.
- Indian Accounting Standards:(Ind As) : In exercise of power conferred by Section 133 read with Section 469 of the Companies Act, 2013, and sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation with the National Advisory Committee on Accounting Standards, made the rules named Companies (Indian Accounting Standards) Rules, 2015 which shall come in to force from 1st April, 2015. The details of the rules are specified in the circular dated 16th Feb, 2015.
- Companies (Removal of Difficulties) Orders, 2015:
In exercise of the powers conferred by the section 470(1) of the companies Act, 2013, Central Government has made the Companies (Removal of Difficulties) orders on 13th February, 2015 to amend the Companies Act 2013.
a) Clause (85) of section 2 of the said Act provides for definition of the term “small company”. According to clause (85) of section 2, a company may be treated as a ‘small company’ if it meets either of the conditions provided therein thereby making the second limit unrestricted or inconsequential. Difficulties have arisen in this regard as companies which, though, meet one of the criteria but exceed the monetary limit in respect of second criteria excessively are also getting classified as ‘small companies’; The MCA has now clarified that in the sub clause (i) of Section 2(85) the word “OR” has been substituted with “AND”. Therefore a Company will be treated small company only if it satisfies both the conditions simultaneously: b) in clause (b) of sub-section (11) of section 186, in the absence of provisions for exemption to a banking company or an insurance company or a housing finance company making acquisition of securities in its ordinary course of business, a difficulty has arisen that such companies cannot make any acquisition of securities in their ordinary course of business; Clarification in this regard has now been made by MCA as under: 1) In the clause (b) of the section 186(11), A new item(sub-clause (iv) has been inserted that is., “(iv) made by a banking company or an insurance company or a housing finance company, making acquisition of securities in the ordinary course of its business.”
- Extension of time for filing Form CRA-2: MCA has vide its circular dated 02/2015 announced that the last date for filing Form CRA-2(Notice of Appointment of Cost Auditor) without late fee/penalty is extended up to 31st march, 2015.