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Ministry of corporate affairs (MCA)

A. Companies (Incorporation) Amendment Rules, 2017

On 25th January, 2017, the Central Government of India, in exercise of powers conferred under section 469 read of the Companies Act, 2013 has notified the Companies (Incorporation) Amendment Rules, 2017. Such rules have been made effective from 30th January 2017.

Under the above-mentioned rules following changes have been made to the Companies (Incorporation) Rules, 2014:

For rule 18, the following rule shall be substituted, namely:-

 “18. The Certificate of Incorporation shall be issued by the Registrar in Form No.INC-11 and the Certificate of Incorporation shall mention permanent account number of the company where it is issued by the Income-tax Department”.

Further for Form INC-32 has been substituted with new form INC-32 under Simplified Proforma for Incorporating Company Electronically. The revised format requires fresh applicants to submit duly signed PAN and TAN forms linked with the SPICe form.

B. Notification –Exemption to Specified IFSC Private company –under section 462 of the Companies Act, 2013

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 the said section of the Companies Act, 2013 (18 of 2013), the Central Government, in the interest of public, has issued a notification dated 4th January 2017 directing that certain provisions of the Companies Act, 2013 (18 of 2013), shall not apply or shall apply with such exceptions, modifications and adaptations, to a private company which is licensed to operate by the Reserve Bank of India or the Securities and Exchange Board of India or the Insurance Regulatory and Development Authority of India from the International Financial Services Centre located in an approved multi services Special Economic Zone set-up under the Special Economic Zones Act, 2005 (28 of 2005)  read with the Special Economic Zones Rules, 2006.

C. Notification –Exemption to Specified IFSC Public company –under section 462 of the Companies Act, 2013

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 the said section of the Companies Act, 2013 (18 of 2013), the Central Government, in the interest of public, has issued a notification dated 4th January 2017 directing that certain provisions of the Companies Act, 2013 (18 of 2013), shall not apply or shall apply with such exceptions, modifications and adaptations, to an unlisted public company  which is  licensed to operate by the Reserve Bank of India or the Securities and Exchange Board of India or the Insurance Regulatory and Development Authority of India from the International Financial Services Centre located in an approved multi services Special Economic Zone set-up under the Special Economic Zones Act, 2005 (28 of 2005) read with the Special Economic Zones Rules, 2006.

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