Ministry of Corporate Affairs Updates

Date

Particulars

March 18, 2021

  • The Ministry of Corporate Affairs has put certain restrictions on the remuneration payable to independent directors under Schedule V of the Companies Act, 2013. Read Notification Here!

  • The Ministry of Corporate Affairs has appointed 18th March, 2021, as the date on which provisions of Section 32 and 40 of the Companies (Amendment) Act, 2020 shall come into force. Read Notification Here!

March 14, 2021

  • The CII has submitted a paper to the Ministry of Corporate Affairs highlighting matters with respect to framework for settlement of offences; liability of independent directors; vicarious liability, etc.

March 8, 2021

  • The Ministry of Corporate Affairs (MCA) struck off 10,113 dormant companies by invoking the provisions of section 248 (2) of the Companies Act. Read Details Here!

  • The MCA notified 3rd Amendment Rules, 2021 for in Form INC-35 AGILE-PRO part of SPICe+. Read Notification Here!

  • The MCA issues notification for new Amendment Rules, 2021 for MGT-7, One Person Company (OPC) and Small Company. Read Notification Here! 

March 5, 2021

February 25, 2021

  • Ministry of Corporate Affairs & CBIC signed MoU for exchange of data for enhancing Ease of Doing Business in India and improve overall regulatory enforcement. Read Press Release Here!

February 22, 2021

  • Ministry of Corporate Affairs has clarified that Indian tech companies and startups, which are eyeing an overseas listing, would not be considered as listed companies in India.

February 19, 2021

  • MCA notified Companies (Specification of definitions details) Second Amendment Rules, 2021. Read Notification Here!

  • MCA calls for research proposals under the scheme “Funding Research and Studies, Workshops and Conferences etc.” Read Guidelines Here!

  • The Ministry of Corporate Affairs has extended the rules relating to significant beneficial ownership to Limited Liability Partnerships. Read Notice Here!

February 5, 2021

  • The MCA department will introduce MCA21 Version 3.0 in Fiscal 2021-22 with three modules such as e-Adjudication, e-Consultation, and Compliance Management. Read Modules Here!

Februaury 1, 2021

  • Finance Minister Smt. Nirmala Sitharaman presented first ever digital Union Budget of 2021-2022.

  • Companies (Incorporation) 2nd Amendment Rules, 2021 released by MCA. Read Amended Rules Here!

  • Companies (Specification of Definition details) Amendment Rules 2021 released by MCA. Read Rules Here!

  • Companies (compromises, arrangements and amalgamations) Amendment Rules 2021 released by MCA. Read Rules Here!

  • MCA has provided relaxation on the levy of additional fees for all AOC-4 e-forms till 31/03/2021. Read Circular Here!

  • MCA amends definition of small companies and evises threshold for paid up capital and turnover for Small Companies. Read Press Release Here!

  • The Ministry of Corporate Affairs (MCA) will launch data analytics driven MCA21 Version 3.0 during the Fiscal 2021-22. Read Press Release Here!

  • The Ministry of Corporate Affairs (MCA) decided to initiate the process of decriminalization of compoundable offences under the limited liability partnership (LLP) Act, 2008, for greater ease of doing business for law-abiding LLPs.

January 27, 2021

  • New ‘Extend’ functionality shall be introduced as part of SPICe+ Part A in line with Rule 9A ‘Extension of reservation of name in certain cases’ of the Companies (Incorporation) Third Amendment Rules, 2020 with effect from 26th January 2021. Stakeholders may kindly note and plan accordingly.

  • Stakeholders may please note that Scheme for condonation of delay for companies restored between 01 December 2020 and 31 December 2020 u/s 252 vide circular no. 03/2021 shall come into effective from 01st February 2021. Companies which have obtained orders of Hon’ble NCLT under section 252 of CA 2013 dated between 01 December 2020 and 31 December 2020 are requested to approach the concerned jurisdictional ROCs along with copy of NCLT order, challan copy towards payment of cost as imposed by Hon’ble NCLT to avail the benefit of the scheme and/to mark the company’s status from ‘Strike off’ to ‘Active’. Further, to avoid last minute rush and any hardship in filing documents on the MCA21 portal, stakeholders are advised to approach the ROCs at the earliest and shall not wait till the last date.

January 22, 2021

  • MCA has amended Corporate Social Responsibilty provisions via Companies (CSR Policy) Amendment Rules, 2021. Read the Amendments Here!

January 21, 2021

  • Notification S.0. 220(E). in the Gazette of India (Extra-Ordinary) in Hindi & English -for authorization under Section 272 (1)(e) of Companies Act, 2013 with corrigendum S.0. 222(E). Read Notification Here!

January 19, 2021

  • Invitation of comments on the report of the Company Law Committee on Decriminalization of the Limited Liability Partnership Act, 2008. Read Invitation Notice Here!

  • Report of the Company Law Committee on Decriminalization of The Limited Liability Partnership Act, 2008. Read Report Here!

January 15, 2021 

  • The last date of filing CFSS e-forms 2020 under the companies act shall be 31/03/2021. Read Circular Here!

  • Companies fresh start scheme (CFSS-2020) form shall be prepared for furnishing as eForm w.e.f 16th January 2021.

January 13, 2021

  • Clarification on spending of CSR funds for Awareness and public outreach on COVID-19 Vaccination program. Read The Circular Here!

January 9, 2021

  • “All stakeholders may please note that portal maintenance activity is scheduled from 10:00pm (09th Jan’21- Saturday) to 08:00am (10th Jan’21- Sunday). Activities may be planned accordingly. For any query, helpdesk may be contacted.”

  • This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States.

January 8, 2021

  • Final stage of Union Budget 2021-2022 commenced with Halwa Ceremony. Read Press Release Here!

  • In this unprecedented initiative, Union Budget 2021-22 will be delivered in paperless form for the first time. The Union Budget 2021-22 is to be presented on 1st February, 2021.

  • “Invitation of comments from the public on Pre-packaged Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016”. Read Notice Invitation Here!

January 2, 2021

  • “Filling up of the post of Financial Adviser in the National Company Law Tribunal(NCL T) under the Ministry of Corporate Affairs.” Read the Circular Here!

  • Union Finance Minister Smt. @nsitharaman
    holds Pre-Budget meeting for upcoming Budget 2021-22 with Finance Ministers of all States and Union Territories (with legislature) through video conferencing in New Delhi. Read the Press Release Here!

January 1, 2021

  • “Stakeholders may please note that there is no change in the additional fee logic of eform MGT-7 and AoC-4/AOC-4 XBRL/AOC-4 CFS/AOC-4 NBFC for the FY 2019-20 w.e.f 01 January 2021 since extension was provided to all the companies for conducting AGM and not for filing the form. Hence, the due date of form filing shall be computed based on the actual date of AGM or due date/extended due date of AGM as the case may be. Post 31st December 2020, additional fee shall be applicable from the actual date of AGM or due date/extended due date of AGM + 30/60 days as the case may be and Rs.100 per day shall be charged starting from such day even if such date falls prior to 31st December 2020.”

  • “Stakeholders may please note that the Field ‘SRN of the application filed for extension’ (GNL-1) in eform MGT-7 is made optional for FY 2019-20 w.e.f 01 January 2021 due to blanket extension provided for all companies to conduct AGM. Consequently, eForm MGT-7 has been revised on MCA21 Company Forms Download page w.e.f 1st January, 2021. Stakeholders are advised to check the latest version before filing.”

  • “Please note that the last date for filing DIR-3 KYC for Financial year 2019-20 has expired on 31st December 2020. The process of deactivating the non-compliant DINs is in progress and will be completed shortly. Please note that web service DIR-3 KYC shall not be available for filing during the pendency of this activity. Filing of DIR-3 KYC can be made after completion of the scheduled activity, as above, when the service is made available on the portal after payment of applicable fees. Stakeholders may kindly note and plan accordingly.”