Government of Telangana Launches Telangana ITC policy 2021-2026.
A dedicated Smart Cities wing will be created in collaboration with the MA&UD Department with an aim to create over 40 smart regions in the state bench marking with the best smart cities in the world.
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.
Revised timelines for issue of licenses under Tamil Nadu Business Facilitation Rules, 2017
The amendment provides that The Renewal of Factories License, License for Manufacturer/ Repairer/Dealer of Weights or Measures and License for Contractor for Employing Contractual Workmen shall be issued automatically and instantly online on Single Window portal upon payment of renewal fee.
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 data bank and also to every company in which such individual is appointed as an independent director.
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 and 111C in accordance with the regulating guidelines of the Council for functioning and regulation of such multidisciplinary firm”
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 contravention.
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 construed as ‘electronic mode’ for the purpose of clause (42) of section 2 of the Act.
MCA issues clarification on spending of CSR fund for COVID-19 Vaccination.
At present, corporates with a net worth of Rs 500 crore, or revenues exceeding Rs 1,000 crore, or net profit over Rs 5 crore, have to spend 2 percent of their average profit over the last three years on CSR programs.
MCA revises the timeline for companies to change its name as per the order of central government
The amendment mandates that the Companies shall change its name within a period of 3 months (as against 6 months), upon the receipt of direction from the Central Government.
