MCA direction for payment of remuneration for directors of companies with inadequate profit
If, in any financial year, a company has no profits or its profits are inadequate, the company shall not pay to its directors, including any managing or whole time director or manager or any other non-executive director, including an independent director, by way of remuneration any sum exclusive of any fees payable to directors except in accordance with the provisions of Schedule V.
MCA revises limit of yearly remuneration of a managerial person and other directors
MCA has provided limit of yearly remuneration for all directors. Previously this was only applicable to managerial persons.
The Motor Vehicles (Registration and Functions of Vehicle Scrapping Facility) Rules, 2021.
The RVSF may be owned and operated by any legal entity, be it a person, firm, society or trust established in accordance with the applicable laws.
FSSAI to accept food and water testing reports from government recognized laboratories for hygiene rating.
The food and water testing reports from government recognized laboratories can be considered for the purpose of awarding hygiene rating certificate to the eligible food business.
IBBI directs the IRP/RPs to report the status of ongoing corporate insolvency resolution processes through Form CIRP 7.
The activities for which reporting has been made mandatory include failure to make public announcement as per prescribed timelines and failure to complete CIRP within 180 days from the insolvency commencement date.
MCA to establishes Central Scrutiny Centre (CSC) for carrying out scrutiny of Straight Through Processes (STP) e-forms filed by the companies.
The CSC shall function under the administrative control of the e-governance Cell of the Ministry of Corporate Affair.
