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COMPANIES ACT AMENDMENTS

MCA Updates
MCA has made some recent amendments which are as under:
- Amends Companies (Appointment and Qualification of Directors) Rules to provide that JV, WOS and dormant unlisted public companies need not have independent directors - http://lunawat.com/Uploaded_File...
- Amends Schedule IV - Code for Independent Directors - http://lunawat.com/Uploaded_File...
- Amends NCLT Rules to insert Rule 87A for appeal to Tribunal u/s 252 - http://lunawat.com/Uploaded_File...
- Issues Companies Removal of Difficulties Order for voluntary winding of company commenced under companies Act 1956 pursuant to applicability of related sections under 2013 Act - http://lunawat.com/Uploaded_File...
- Amends Companies (Transfer of Pending Proceedings) Rules for giving effect to removal of difficulty order regarding voluntary winding up - http://lunawat.com/Uploaded_File...
SPICe form has been recently revisied on MCA21 Company Forms download page. Stakeholders are advised to check the latest version before filing.
Form GNL- 3 & INC -22 Were recently revisied on MCA21 Company Forms download page. Stakeholders are advised to check the latest version before filing.
DIR-5 ( Application for surrender of DIN ) has been notified and deployed as an eform for filing purposes. Stakeholders who wish to surrender DINs shall required to file this eform instead of it hitherto being filed as attachment to form RD-1. Please plan accordingly.
Hope this updates may be helpful..l
5 views · Posted Jul 26

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AMENDMENTS UNDER COMPANIES ACT 2013

*Exemptions to Private Companies under Companies Act, 2013:* As we all know that some exemptions were granted by MCA to Private Companies on 05.06.2015, the MCA has added more exemptions by amending the notification issued on 5th June, 2015 and by notifying further exemptions on 13th June, 2017: 1. New Concept of *Start-up/ Start-up Companies* has been introduced: Start up Private Companies are not required to prepare the Cash Flow Statements under Companies Act, 2013. For the purposes of this Act, the term 'start-up' or "start-up company" means a private company incorporated under the Companies Act, 2013 (18 of 20'l3) or the Companies Act, 1956 ('l of 1956) and recognized as start-up in accordance with the notification issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry." 2. The Private Companies which are small companies are not required to mention the amount of *remuneration drawn* by Directors ...
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