MCA revises form MGT-7/MGT-7A.

Earlier all the companies (public/ private/ OPC) were required to file annual return in Form No. MGT-7. However, Ministry of Corporate Affairs (MCA) on 5th March 2021 amended Companies (Management and Administration) Rules, 2014 and …

Regulatory Impact Assessment (RIA) for revision of existing Accounting Standards.

NFRA noted that most of the companies to which these proposed revised standards will apply are private limited companies.

MCA extends the last date of filing of cost audit report to the board of directors.

Due to the extraordinary disruption caused by the pandemic, It has been decided that if a cost-audit report for the financial year 2020-21 by the cost auditor to the Board of Directors of the companies …

MCA extends the time for holding AGM for Financial Year ended on 31st March 2021.

Based on the representation received from the companies, seeking extension of time for holding Annual General Meeting, MCA has granted extension of time for a period of two months, which means the companies now have …

MCA issues clarification for Nidhi companies

Stakeholders are advised to verify the antecedents of the company functioning as a Nidhi company and to ensure that the company has been declared as Nidhi company by the central government.

Companies (Appointment and Qualification of Directors) Amendment Rules, 2021

The amendment exempts advocates, Company Secretaries, Cost accountants and chartered accountants practicing for 10 years from requirement to pass online proficiency self-assessment test to be included in independent directors databank.

The Companies (Creation and Maintenance of databank of Independent Directors) Second Amendment Rules, 2021

The amendment provides that the Indian Institute of Corporate Affairs (IICA) shall within sixty days from the end of every financial year send an annual report to every individual whose name is included in the …

The Cost and Works Accountants (Amendment) Regulations, 2021.

As per the draft, a new regulation 111D has been inserted which reads as “A member in practice may form a multi-disciplinary firm with the member of other professional bodies as prescribed under Regulations 111B …

MCA exempts foreign companies and companies incorporated outside India from the provisions of sections 387 to 392.

Section 387 to 392 of the Companies Act 2013 deals with dating of prospectus and provisions as to experts consent and allotment, the registration of prospectus, offer of India depository receipts and the punishment for …

The Companies (Specification of definitions details) Third Amendment Rules, 2021.

The electronic-based offering of securities, subscription thereof or listing of securities in the International Financial Services Centres set up under section 18 of the Special Economic Zones Act, 2005 (28 of 2005) shall not be …

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