FM announces several relief measures relating to Statutory and Regulatory compliance matters across Sectors in view of COVID-19 outbreak

Source: The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press conference through video conferencing here today, Smt. Sitharaman announced much-needed relief […]

External Commercial Borrowings (ECB) Policy – Rationalisation of End-use Provisions, RBI Circular dated 30th July, 2019

ECB proceeds cannot be utilised for working capital purposes, general corporate purposes and repayment of Rupee loans except when the ECB is availed from foreign equity holder for a minimum average maturity period of 5 years. Further, on-lending for these activities out of ECB proceeds is also prohibited. Notification:_

The Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 have been notified w.e.f 25th July 2019

The Ministry of Corporate Affairs has amended The Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 have been notified w.e.f 25th July 2019. As per the said notification: i) E–Form DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the […]

In the Companies (Appointment and Qualification of Directors) Rules, 2014, after rule 12A, the following rule shall be inserted, namely:- ‘12B. Directors of company required to file e-form ACTIVE.-

(1) Where a company governed by Rule 25A of the Companies (Incorporation) Rules, 2014, fails to file the e-form ACTIVE within the period specified therein, the Director Identification Number (DIN) allotted to its existing directors, shall be marked as “Director of ACTIVE non-compliant company”. (2) Where the DIN of a director has been marked as […]

The Ministry of Corporate Affairs rolled out a new rules in the Companies (Acceptance of Deposits), Rules, 2014 with the notification dated 22 nd January, 2019.

Companies (Acceptance of Deposits) Amendment Rules, 2019 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 22nd January 2019 G.S.R. 42(E).—In exercise of the powers conferred by clause (31) of section 2 and section 73 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in […]

Filing of affidavits

Stakeholders are requested to please note that Filing of affidavits (from each of the subscribers to the memorandum and from persons named as the first directors, if any, in the articles that he is not convicted of any offence in connection with the promotion, formation or management of any company, or that he has not been found […]