MCA Update: Relaxation for Minimum Residency Period-FY 2020-21 u/s 149 of Companies Act, 2013

Ministry of Corporate Affairs #MCAA) vide its General Circular No. 36/2020 dated 20th October, 2020 has clarified that non-compliance of minimum #residency in India for a period of at least 182 days in a year, by atleast one Director in every Company under Section 149 of ...

The Companies (Amendment) Act 2020: Updates

The Companies (Amendment) Bill, 2020 was introduced by the Government in the Parliament on 17th March 2020, and was passed by Lok Sabha on 19th September, 2020 and Rajya Sabha on 22nd September, 2020 which has changed certain amendments in the Companies Act 2013, primarily ...

Foreign Contribution (Regulation) Amendment (FCRA) Bill 2020

The Government has introduced the Foreign Contribution (Regulation) Amendment (FCRA) Bill 2020 in the Lok Sabha on September 21, 2020 with twin objective to make the FCRA law more stringent and to streamline the provision of FCRA by strengthening the compliance mechanism, ...

Are You Intending to Incorporate Company in India? Quick Lookouts!

New Restriction on FDI where Chinese Companies or Chinese National are Beneficial Owners

(Having impact on all the foreign investments coming into India)   The Government of India (‘GOI’) had released a Press Note dated April 17, 2020 read with the Foreign Exchange Management (‘Non-debt Instruments’) ...

Key Measures Announced Regarding Companies Act and Insolvency & Bankruptcy Code

The Government of India had already introduced Companies (Amendment) Bill, 2020 to liberalize and decriminalize the strict provisions under the Companies Act, 2013. The said bill was presented with the intent to provide ease of working by taking away number of penal ...

Now Start up Companies may Issue Sweat Equity not Exceeding 50% of its Share Capital

The Ministry of Corporate Affairs has brought amendments in the Companies (Share Capital and Debentures) Rules, 2014 as mentioned below:

Suspension of Initiation of Corporate Insolvency Resolution Process During Lockdown

Holding Annual General Meeting Through Video Conferencing or Other Audio Visual Means

Till this enforcement of this notification, Companies with financial year ending on 31st December, 2019 were allowed to hold their Annual General Meeting (“AGM”) on by 30th September, 2020. Further, certain relaxations have been provided by the Ministry to ...

Review of Foreign Direct Investment (FDI) Policy Due to Current COVID-19 Pandemic

The Government of India (GOI) released a Press Note dated 17/04/2020 revising the existing FDI policy for Eligible Investors (Para 3.1.1 of extant FDI policy as contained in Consolidated FDI Policy, 2017) as:

MCA Allows Holding Of EGMs In Companies Through VC Or OAVM Facility

Please be informed that the Ministry of Corporate Affairs has allowed the companies to hold their Extraordinary General Meetings (EGMs) through Video Conference (VC) or Other Audio Visual Means (OAVM) along with e-Voting facility/simplified voting through registered emails, ...

MCA Update for DIN Activation and Active Filing

Big Opportunity by the Ministry of Corporate Affairs to the Directors and Companies to remove their status as Deactivated/ non-compliant.

MCA Update: LLP settlement Scheme, 2020

MCA has introduced LLP Settlement Scheme, 2020. Through the Scheme, One-Time relaxation in additional fees has been provided to the defaulting LLPs to make their default good by filing pending documents with the ROC and to serve as a compliant LLP in future.

Governmeent eases Winding Up of Indian Companies.

The Ministry of Corporate Affairs has notified rules for winding up and provide an option to the small companies to shut their companies without going to the National Company Law Tribunals (NCLTs). The Companies (Winding Up) Rules, 2020, signed off on 24th ...

New Process of Incorporation of Entity in India

Stakeholders may kindly note that the Ministry of Corporate Affairs has updated the process of incorporating Companies in India to encourage Ease of Doing Business (EODB) initiative. The new web Form ‘SPICe+’ for incorporating Indian Companies shall be deployed ...

Cabinet approves proposal for Review of Foreign Direct Investment ('FDI') policy on various sectors

On August 28th 2019, the Union Cabinet chaired by the Prime Minister Shri. Narendra Modi approved proposal for review of the current Foreign Direct Investment (“FDI”) policy on various sectors. In respect of the above, the proposed changes in the FDI policy are ...

New Compliance Of MCA Applicable On Indian Companies To Be Followed From 2019

This is to inform you that the Ministry of Corporate Affairs has come up with various new compliance applicable on the Indian Companies to be followed from 2019. Accordingly, we have prepared a chart including all the deadlines (One-time or Annually) along with the necessary ...

Active Company Tagging Compliance By MCA To Be Followed By Companies Formed Before 31st Dec 2017

There has been a very important update from the Ministry of Corporate Affairs vide new Companies (Incorporation) Amendment Rules 2019 dated 21st February, 2019: Pursuant to which, every company incorporated on or before the 31st December, 2017 shall file the particulars of ...

Beneficial Ownership

The Ministry of Corporate Affairs has notified the new Section 90 of the Companies Act, 2013 and Companies (Significant Beneficial Owner) Rules, 2018.