Companies (Indian Accounting Standards) Amendment Rules, 2021
To enable users of financial statements to understand the effect of interest rate benchmark reform on an entity‘s financial instruments and risk management strategy, an entity shall disclose information about, the nature and extent of risks to which the entity is exposed arising from financial instruments subject to interest rate benchmark reform, and how the entity manages these risks.
The Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021.
An institute shall create and maintain a databank of persons willing and eligible to be appointed as independent directors, and such databank shall be an online databank which shall be placed on the website of the institute.
The Companies (Meetings of Board and its Powers) Amendment Rules, 2021.
Through this amendment rule 4 has been omitted which deals with restriction of conducting Board Meeting through Video Conferencing/Other Audio-Visual Means for selected agenda items, however due to the COVID pandemic, MCA granted relaxation for conduction meeting through VC till 30th June 2021, which now permanently allows virtual resolutions on financial statements, restructuring.
Companies (Incorporation) Fourth Amendment Rules, 2021
The amendment provides that the application for incorporation of a company shall be accompanied by the revised e-form AGILE – PRO-S (INC-35)
MCA publishes the third list of Forms for which due date extension and additional fees waiver is provided
The new list clarifies that filing of FORM FC-1, FORM FC-2, FORM PAS-3, FORM MR-1 are also subject to due date extension and additional fees waiver
MeitY issues SOP for re-processing wrongly rejected packets in SSUP
MeitY issues SSUP BPO reprocessing functionality for re-processing wrongly rejected
packets. The residents can complaint, and it will be taken up by the concerned authorities for
review and reconsideration. If found wrongly rejected, the packets will be processed
accordingly and the resident will be informed about the status via SMS/ E-mail.
NCLAT revises SOP for adjudication proceedings
The revised SOP allows Learned Advocates or Authorized representatives to e-file appeal/interlocutory application/reply/rejoinder or undertakings till the tribunal commence physical hearings. The e-forms shall be filed in the same format hard copies are filed as per NCLAT Rules, 2016.
MCA Clarification on offsetting the excess CSR contributed to PM CARES Fund for FY 2019-20
MCA has clarified that where a company has contributed any amount to ‘PM CARES Fund’ on 31.03.2020, which is over
and above the minimum amount of prescribed CSR, such excess amount or part thereof is offset against the CSR requirement for FY 2020-21.
Consumer Protection (E-Commerce) (Amendment) Rules, 2021.
The Amendment is brought under rule 4 which deals with duties of e-commerce entities.
MCA enlists forms for which due date extension and additional fees waiver is granted
The Ministry of Corporate Affairs has enlisted the Forms for which due date extension and additional fees waiver is provided by the ministry through Circular no. 06/2021 and 07/2021.
