The Ministry of Corporate Affairs relaxes compliance burden under the companies/LLP Act

The Ministry of Corporate Affairs vide its circular dated 24th March 2020 has implemented several relief measures, especially on statutory and regulatory compliance matters related to several sectors, in the context of outbreak of pandemic …

The Companies (Auditor’s Report) Order, 2020 (CARO) shall be in force from 1st April 2020.

The Companies Auditors Report Order is applicable for audit of financial statements of eligible companies for the financial years commencing on or after the 1st April 2020.
Covid-19 relief by Finance Minister

Finance Minister announces COVID -19 Compliance reliefs

The Finance Minister on 24th March 2020 has announced several reliefs for easing the burden on the citizens of India for complying with the requirement of Income-tax Act, Companies Act, Goods and Service tax laws …

No penalty for non-filing Form “CAR” to confirm Readiness towards COVID-19

The web Form has been deployed as a purely confidence-building measure to assess the readiness of the companies to deal with COVID-19 Threats in India. As such no penalty or enforcement-related action is applicable.

MCA clarifies that spending funds for fighting COVID-19 qualifies as a CSR activity

The Ministry of Corporate Affairs on 23rd March 2020 has announced that the funds utilized by companies on preventive healthcare, sanitation measures, and disaster management to check the spread of the novel coronavirus (Covid-19) will …

MCA Specifies time-frame for filing declaration to central government in Form NDH-4

The Ministry of Corporate Affairs on 19th March 2020 has provided the time frame for Nidhi companies to apply to the Central Government for updation and declaration of Nidhi company status in Form NDH-4. In …

MCA allows video-conferencing instead of physical board meetings due to Covid-2019 outbreak

The Ministry of Corporate Affairs vide Notification dated 19th March 2020 has issued the Companies (Meetings of Board and its Powers) Amendment Rules, 2020. The amendment provides temporary relaxation to the requirement of physical presence …

Companies Amendment Bill, 2020 – Introduced

The Minister of State of Finance, Anurag Thakur tabled the Companies (Amendment) Bill 2020 in the Lok Sabha. The bill was earlier approved by the Union Cabinet on 04th March, 2020. The bill seeks to …

Public comments invited to Draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020

Comments, if any, may be submitted online therein by end of business hours on 28th March, 2020. The comments must be mailed to companiesact2013@icsi.edu.

MCA brings changes in Form INC-28 through Companies incorporation second Amendment Rules, 2020

Form INC-28 is amended in such a way requiring the company to state the section of Insolvency and Bankruptcy Code, 2016, under which order passed.