MCA issues Notification for Commencement of 98 Sections of the New Act

Ministry of Corporate Affairs issues Notification for Commencement of 98 Sections of the New Act

The Companies Act, 2013 as passed by the Parliament and assented to by the President of India is available on the Ministry of Corporate Affairs’ website at www.mca.gov.in. The Ministry has initiated the process to implement the new Act in consultation with concerned regulatory authorities, Ministry of Law & Justice and other stakeholders. The first set of draft rules has also been placed on the Ministry’s website on 9th September, 2013. The relevant Forms under such rules and remaining draft rules/forms are also being released for public comments shortly.  It has therefore been decided to enforce the provisions of the new legislation in phases. The provisions of the new Act which require statutory/regulatory consultation or functioning of new bodies or prescription of relevant rules/forms will be brought in force after the preparatory action is completed. In the first instance it has been decided to notify those provisions of the Act which do not require such preparations. Accordingly, a notification for commencement of 98 sections of the new Act has been issued by the Ministry today i.e. 12th September, 2013. The details of provisions brought in effect are available on the web-site of the Ministry of Corporate Affairs or by clicking the following link. http://www.mca.gov.in/Ministry/pdf/CommencementNotificationOfCA2013.pdf The Gazette Notification of the Companies Act, 2013 can be downloaded by clicking the following link http://egazette.nic.in/WriteReadData/2013/E_27_2013_425.pdf

Rajya Sabha passes Companies Bill

The Rajya Sabha today passed the Companies Bill.

The Bill was already passed by Lok Sabha in December last year and now only President's nod required to make it a law. 

MCA has extended the date for filing Forms 23AC & 23ACA for Non-XBRL Companies for the year commencing on or after 1st April, 2011 from 15.09.2012 to 15.10.2012 without any additional fees or penalty as the new forms after revised Sch VI has not been notified by MCA yet. The Circular in this regard can be downloaded from the link below:

http://www.mca.gov.in/Ministry/pdf/General_Circular_28_2012.pdf

Imposing Fees on Certain E-Forms Filed with ROC, RD OR MCA(HQ) under MCA-21 Where at Present No Fee is Prescribed

The Ministry of  Corporate Affairs has decided to impose a certain amount of fee on the following forms at the rates indicated in table below:-

S.No.	Form No.	Particulars of the Form	Fee Applicable
1	Form 1 of Investor Education & Protection Fund Rule	Statement of amounts credited to Investor Education and Protection Fund	As per Schedule X to the Act.
2	Form 23B	Information by statutory auditor to the Registrar of companies Act, 1956 pursuant to section 224(1)(a) of the Companies Act, 1956	As per Schedule X to the Act.
3	Form 24A	Information by statutory auditor to the Registrar of companies Act, 1956 pursuant to section 224(1)(a) of the Companies Act, 1956.	As per Companies (Fee onApplication) Rules,1999
4	Form 36	Receiver’s or manager’s abstract of receipts and payments (charge related form)	As per Schedule X to the Act.
5	Form 61	Application to RoC-(a) Compounding of Offences u/s 621A (b) Application for extension of Annual General Meeting upto 3 months u/s 166 of the Act (c) Application for extension of time for preparation of Annual Accounts upto 18 months u/s 220 of the Act. (d) Others	a)As per Companies (Fee onApplication) Rules, 1999(b) -Do- (c) -Do- (d) -Do-
6	Form 62	Form for submission of misc.documents under the below mentioned rules: (a) Form 154 of the companies (Court) Rules, 1959 (b) Form 157 of the companies (Court) Rules, 1959 (c) Form 158 of the Companies (Court) Rules, 1959	As per Schedule X tothe Act.
7	Form 65	Application to the Central Govt (HQ)-(a)Application pursuant to rule 2 of the Companies (Application for Extension of Time or Exemption under Subsection (8) of Section 58A) Rules, 1979. (b) Information and explanation on reservations and qualification contained in the cost audit report by a company	(a) as per Companies(Fee onApplication) Rules, 1999 (b) Nil (c) as per Companies (Fee on Application) Rules, 1999

This fee is effective from July 22, 2012. Prior to it  no fee was levied for forms.

Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012

Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules,2012, has mandated every company to file eForm 5INV containing the information of unclaimed and unpaid amounts as referred to in subsection

(2) of section 205C of the Companies Act, 1956.

This information is required to be filed every year within a period of 90 days after the holding of Annual General Meeting or the date on which it should have been held as per the provisions of section 166 of the Act, and every year thereafter till completion of the seven years’ period.

The information is to be filed in Form 5- INV as per the above mentioned rules; and thereafter an excel sheet containing detailed investor wise details is to be filed separately.

The Notice dt. 18.05.2012 & the Notification notifying the above Rules dt. 10.05.2012 are attached 

IEPF (Uploading of Info etc.) Rules, 2012

IEPF Notice 18 May 2012

MCA - Last date for filing DIN 4 extended

The last date for filing Form DIN-4 by DIN holders for furnishing their Income tax PAN and to update Income- tax PAN details has been extended up to 29th February, 2012. 


For details kindly see General Circular No: 70/2011 by clicking the link below :


http://www.mca.gov.in/Ministry/pdf/General_Circular_No_70_2011.pdf

MCA - CLSS - 2011 Scheme extended

The Ministry of Corporate Affairs (MCA) has vide its General Circular No. 71/2011 extended the last date for availing benefit under Company Law Settlement Scheme (CLSS), 2011 up to 15th January, 2012. The MCA has further stated that this Scheme will not be extended beyond 15th January, 2012. A copy of the General Circular No: 71/2011 is available on MCA portal under News & Events and under heading Act, Bills and Rules or may be downloaded at the link:

http://mca.gov.in/Ministry/pdf/General_Circular_No_71_2011.pdf