Government of Goa adopts Start up Policy 2021.
As per the policy, all start-ups registered in Goa will be allowed to operate 24/7. An intimation from Startup Promotion Cell will be issued to the Panchayat and Local Bodies intimating them on the Certified Goa Startups to operate 24×7.
Ministry of Corporate Affairs further simplifies IEPFA Claim Settlement Process towards Ease of Doing Business and Ease of Living.
The main objective of the authority includes to promote Investor Education, Awareness & Protection, refund unclaimed shares, dividends and other amounts transferred to it under sections 124 and 125 of the Companies Act 2013 to the rightful claimants. IEPFA works under the administrative control of MCA.
MCA issues public notice on disqualification of DINs.
As per clause (a) of Section 164(2) a Director who has not filed financial statements or annual returns for any continuous period of three financial years; will be disqualified for the period of 5 Years. DINs of such directors were flagged by MCA.
MCA extends the last date for filing cost audit report to the board of directors.
If a cost-audit report for the financial year 2020-21 by the cost auditor to the Board of Directors of the companies is submitted by 31st November then the same would not be viewed as a violation of rule 6(5) of Companies (cost records and audit) Rules, 2014.
MCA grants relaxation on levy of additional fees in filing of e-forms.
The relaxation has been granted, based on the requests received from various stakeholders regarding relaxation on levy of additional fees for annual financial statement filings required to be done for the financial year ended on 31.03.2021.
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 issued Companies (Management and Administration) Amendment Rules, 2021. According to the amended rules, every company shall file its annual return in Form No. MGT-7 except one person Company (OPC) and small company. A new Form No. MGT-7A has been prescribed in respect of annual return of OPC and small companies.
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 is submitted by 31st October 2021 then the same would not be viewed as a violation of rule 6(5) of Companies (cost records and audit) Rules, 2014.
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 time till the end of November 2021 to hold the AGM.
DGH extends timelines for submissions against the Production Sharing Contracts processes
The DGH has provided that timelines for submissions against the Production Sharing Contracts processes in both online and offline mode till 31.10.2021.
