MCA directs NBFCs complying with Ind AS to file financial statements with New forms
Ministry of Corporate Affairs has issued Companies (Accounts) Amendment Rules, 2020, which mandates the Non-Banking Financial Companies (NBFC) to file financial statements with the Registrar. The amendment also provides the forms to be filed along with the financial statement.
MCA extends due date for filing eform AOC-4 NBFC( Ind AS) and eform AOC-4 NBFC for FY 2018-19
The Ministry of Corporate Affairs(MCA) vide Circular dated 30th January, 2020 has notified that the New format for fling eform AOC-4 NBFC( Ind AS) and eform AOC-4 NBFC ( Ind AS) is likely to be released on 31st January 2020 and 17th February 2020 respectively.
IBBI streamline the process of transfer of membership from one RVO to another.
The Insolvency and Bankruptcy Board of India vide notification dated 28th January 2020 has prescribed strict timelines and procedure for seamless transfer of a membership from one Registered Valuer Organisation (RVO) to another. The Companies (Registered Valuers and Valuation) Rules, 2017 (Rules) envisage Registered Valuer Organisations (RVOs) to act as front-line regulators for development and regulation of the valuation profession, The Rules envisage that a member may shift membership from one RVO to another, subject to prior permission of the Insolvency and Bankruptcy Board of India.
FSSAI issues Food Safety and Standards (Food Product standards and food additives) Amendment Regulation.
The Draft Food Safety and Standards (Food Product standards and food additives) Amendment Regulation, 2020 suggests that “Milk and Meat producing animals except poultry and fish shall not be fed with feed containing meat or bone meal including internal organs, blood meal and tissues of bovine or porcine origin materials except milk and milk products. “
FSSAI mandated that feed for food producing animals shall comply with BIS specifications for compounded feeds for cattle
Food Safety and Standards Authoity of India vide notification dated 27 January 2020 has mandated that producers of commercial feeds and feed materials manufactured for Meat and Milk producing animals shall comply with specifications for compounded feeds for cattle laid down by Bureau of Indian Standards (BIS) and shall also carry BIS certification on the label of the products.
MOHFW notifies import of oxytocin reference standards exclusively for test and analysis.
The Ministry of Health and Family Welfare vide notification dated 27th January, 2020, issued amendment to the Drugs and Cosmetics Act, 1940 by which the Oxytocin reference standards is permitted to be imported exclusively for the purpose of test and analysis.
The Ministry of Labour and employment has declared the services of the industries engaged in manufacturing of alumina to be a public utility service.
The Ministry of Labor and employment vide notification dated 24th January 2020 has declared that the services of the industries engaged in manufacturing of alumina and aluminium and mining of bauxite, which is covered under Industrial Disputes Act, 1947, to be a public utility service.
MoEFCC has proposed changes in parameters and standards of pharmaceutical drug manufacturing under environmental protection rules.
The Ministry of Environment, Forest and Climate Change, on January 23, 2020, has issued The Draft Environment (Protection) Amendment Rules, 2019 inviting suggestions and objections. The amendment proposes to alter the entry in schedule 1 governing Pharmaceutical (Manufacturing And Formulation) Industry.
BIS Standards on Acetic Acid shall be effective from August 2020.
The Department of Chemicals and Petrochemicals has issued an order dated 24th January, 2020 to declare the date of coming into effect of the Acetic Acid (Quality Control) Order, 2019. The above-said order shall come into effect from 3rd August 2020.
MCA notifies rules for winding up of companies
The Ministry of Corporate Affairs vide notification dated 24th January 2020, has published The Companies (Winding Up) Rules, 2020 comprising of 191 Rules and 95 Forms, applicable for winding up of companies under the Companies Act 2013. The Rules lay down a structured and time bound process for winding up of Companies. The Rules shall be effective from 1st April 2020.
