Tuesday, May 7, 2019

Appointment of NCLT Members



Click here for list of Members


The Appointment Committee of the Cabinet (ACC) has approved the appointment of 32 Members including 14 Judicial and 18 Technical to the National Company Law Tribunal (NCLT). The ACC has also directed that the Ministry of Corporate Affairs will notify the place of posting for these appointees in consultation with the President, NCLT.

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SEBI panel may recommend FPI investment in unlisted cos




The Securities and Exchange Board of India committee on the overhaul of regulations for offshore investors is set to recommend that Foreign Portfolio Investors (FPIs) be allowed to buy shares of Unlisted Companies. The Khan Committee is expected to finalise its recommendations in the next two weeks and has already started the drafting process. Such a measure would be a boost for Start-ups and other Un-listed entities as they will get access to a broader pool of capital. Currently, overseas funders of start-ups have to come in through the Foreign Direct Investment (FDI) route and hence can only be strategic investors in such Companies.


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Online filing and Tracking of Quality Complaints/Trade Disputes







The DGFT has issued a notice which laid down the procedure for Online Filing and Tracking of Quality Complaints or Trade disputes relating to International Trade for both Indian and Foreign entities. Earlier the Online Filing facility were only available for trade disputes pertaining to Foreign entities. Further, the procedure for filing online complaint has been laid in two form, i.e. For Indian and Foreign Complainants and for the concerned regional authority of DGFT and SEZ, Indian Missions. This mechanism is to provide an additional window for resolution of complaints/disputes to create confidence in business environment in the country. Further, this mechanism is only reconciliatory in nature. The aggrieved parties are free to pursue any other course of action including legal action against the erring party. Disputes between the two Indian parties or between the two foreign parties are not covered under this mechanism.

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Thursday, May 2, 2019

EXTENSION IN DATES FOR DIR-3 KYC FORM




MCA has notified the Companies (Appointment and Qualification of Directors) Amendment Rules, 2019 which shall come into force on the date of their publication in the Official Gazette i.e 30-04-2019.

http://www.mca.gov.in/…/CosAppointmentQualificationDirAmend…
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Click on above link and find supporting document regards to this update

Amendments to Rule 12A are made to extend the time limit prescribed for submission of Form DIR – 3KYC by every director having approved DIN. The form DIR – 3KYC is now also required to be filed upto 30-06-2019 instead of earlier notified date of 30-04-2019. Further, the said Form DIR – 3KYC is yet to be made available on the portal of MCA.
 

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Wednesday, May 1, 2019

DPT 3 Due Date Extended upto 90 Days from 31 March 2019, notifies MCA

DPT 3 Due Date Extended upto 90 Days from 31 March 2019, notifies MCA

MCA has notified that the due date for filing of one time return by companies in form DPT 3 stands extended upto 90 Days from 31 March 2019, as against the earlier notified deadline of 90 days from 22 Jan. 2019.
It may be noted that on 22 Jan. 2019 the MCA has amended Rule 16A(3) of the Companies (Acceptance of Deposits) Rules, 2014, mandating every company (other than Government company) to file a one time return of outstanding receipt of money or loan (not considered as deposits) from 1 April, 2014 till that date, in Form DPT 3 (along with applicable fee) within ninety days from the date of publication of said notification.

MCA Notification dt. 31st April 2019 find link below

G.S.R. (E).- In exercise of the powers conferred by section 73 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Acceptance of Deposits) Rules, 2014, namely:-
1. (1) These rules may be called the Companies (Acceptance of Deposits) Second Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Acceptance of Deposits) Rules, 2014, in rule 16A, in sub-rule (3), –
(a) for the words “the date of publication of this notification in the Official Gazette”, the figures, letters and word “31st March, 2019” shall be substituted;
(b) for the words “ninety days from the date of said publication of this notification”, the words, figures and letters” ninety days from 31st March, 2019″ shall be substituted.
Note. – The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide number G.S.R. 256(E), dated the 31st March, 2014 and were last amended vide notification number G.S.R. 42(E), dated the 22nd January, 2019.

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MSME Form-1



Form MSME Form 1 has been deployed on MCA21 Company Forms Download page w.e.f 1st May, 2019 On referance of MCA Circular dated 21/02/2019 last date of filing initial return in MSME Form 1 will be 30th May, 2019. link of Circular is mentioned below:

http://www.mca.gov.in/…/InitialReturnInMSMEForm_21022019.pdf

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