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MINISTRY OF CORPORATE AFFAIRS (MCA)

1. Extension of time for filing of Notice of appointment of the Cost Auditor for the F.Y. 2015-16 in Form CRA-2 and filing of cost audit report to the Central Government for the F.Y. 2014-15 in form CRA MCA  has released the revised Form CRA-2 on 12th June, 2015 and is available on the MCA 21 system for filing. MCA has also announced that in view of the delay in availability of revised Form CRA"2 on the MCA 21 portal, the additional fee on account of any delay beyond the prescribed period of 30 days from the date of Board Meeting in which the appointment of the Auditor was made for filing of CRA-2 for the financial year starting on or after 1" April, 2015 is waived for all such filings till 30th June, 2015. 2. Exemptions to Section 8 Companies : MCA has in exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 and in pursuance of sub-section (2) of said section read with section 8 of the Companies Act, 2013 (18 of 2013), and in supersession of notifications issued under section 25 of the Companies Act, 1956 (1 of 1956) directed that certain provisions of the Companies Act, 2013, shall not apply to a body to which a licence is granted under the provisions of the aforesaid section 8. This was announced vide MCA’s notification dated 5th June, 2015 3. Exemptions to Private Companies MCA has in exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 and in pursuance of sub-section (2) of said section of the Companies Act, 2013 (18 of 2013), directed that certain provisions of the Companies Act, 2013, as specified in column (2) of the Table, shall not apply or shall apply with such exceptions, modifications and adaptations, to a private company. This was announced vide MCA’s notification dated 5th June, 2015. This was announced vide MCA’s notification dated 5th June, 2015. 4. Exemptions to Nidhis Companies MCA has in exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 read with section 406 of the Companies Act, 2013 (18 of 2013) and in supersession of notification number GSR 517(E), dated the 31st August, 2006 and GSR 326(E), dated the 8th April, 2011 or any other notification issued under section 620A of the Companies Act, 1956, directed that certain provisions of the Companies Act, 2013, shall not apply or shall apply with such exceptions, modifications and adaptations, as specified to Nidhis. This was announced vide MCA’s notification dated 5th June, 2015. 5. Exemptions to Government Companies MCA has in exercise of the powers conferred by clauses (a) and (b) of sub-section ( 1) of section 462 and in pursuance of sub-section (2) of said section of the Companies Act, 2013 (18 of 2013) and in supersession of notifications issued under Section 620 of the Companies Act, 1956 (1 of 1956), directed that certain provisions of the Companies Act, 2013, shall not apply or shall apply with such exceptions, modifications and adaptations to a Government company, namely. This was announced vide MCA’s notification dated 5th June, 2015 6. Commencement Notification of Companies (Amendment) Act, 2015 The Ministry of Corporate Affairs (“MCA”) has issued a notification dated May 29, 2015 whereby the provisions of sections I to 12 and 15 to 23 of the Companies (Amendment) Act, 2015 (21 of 2015) shall come into force. 7. Companies (Shares Capital and Debentures) Second Amendment Rules, 2015 The Ministry of Corporate Affairs (“MCA”) has amended the Rule 5 sub-rule (3) of the Companies (Shares and Debentures) Rules, 2014 vide notification dated May 29, 2015 with respect to provisions of Common Seal. 8. Companies (Declaration and Payment of Dividend) Second Amendment Rules, 2015 The Ministry of Corporate Affairs (“MCA”) has amended the Companies (Declaration and Payment of Dividend) Rules, 2014 dated May 29, 2015 by virtue of which has omitted the Rule 3, sub-rule (5) of the above said rules. 9. Companies (Incorporation) Second Amendment Rules, 2015 The Ministry of Corporate Affairs (“MCA”) has amended the Companies (Incorporation) Rules, 2014 vide amendment dated May 29, 2015 by virtue of which Rule 12 has been amended with respect to approval required from sectoral regulators like RBI, SEBI while incorporation of Company. 10. Companies (Registration of Charges) Amendment Rules,2015 The Ministry of Corporate Affairs (“MCA”) has amended the Companies (Registration of Charges) Rules, 2014 dated May 29 by virtue of which Rule 3,sub-rule (4), clause (a) amended with respect to provision of Common of Seal. 11. Companies (Registration Offices and Fees) Second Amendment Rules, 2015 The Ministry of Corporate Affairs (“MCA”) has amended the Companies (Registration Offices and Fees) Rules, 2014 dated May 29, 2015 by virtue which Rule 15 has amended with respect to inspect or obtain copies of resolutions referred in Clause (g) of Sub-Section(3) of Section 117 of the Companies Act, 2013. 12. Companies (Incorporation) Amendment Rules, 2015 The Ministry of Corporate Affairs (“MCA”) has introduced the Companies (Incorporation) Amendment Rules, 2015 dated May 1, 2015. There have been a number of amendments introduced by the Ministry of Corporate Affairs (“MCA”) vide this notification. Some of the noticeable amendments are as follows:
  1. Rule 5 of the Companies (Incorporation) Rules, 2014 has been omitted.
  2. In Rule 6, “having paid up share capital of fifty lakh rupees or less or average annual turnover”, the words, “having paid up share capital of fifty lakh rupees or less and average annual turnover” shall be substituted.
  3. penalty clause in Rule 7A pertaining to One Person Company has been introduced.
  4. In Rule 16, sub-rule (1), for clause (q), the following shall be substituted –“the promoter or First Director shall self attest his signature and latest photograph in Form No. INC 10
  5. Rule 36-For simplifying the process of incorporation of Company, the integrated process shall apply with effect from May 1, 2015. Form INC-29 has been introduced as an integrated Form for the incorporation of the Company.
 
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