Company Law

Annual General Meeting – Extension of Time Limit

karthikandsunil, , , Leave a comment

Government of India
Ministry of Corporate Affairs
Office of the Director General of Corporate Affairs
CL-II-03/252/2021-0/o DGCoA-MCA

Kota House Annexe,
1, Shahjahan Road,
New Delhi-110011.

Dated 23.09.2021

OFFICE MEMORANDUM

Subject: Extension of time for holding of Annual General Meeting (AGM) for the Financial year ended on 31.03.2021

1. The Central Government has received representations seeking extension of time for holding Annual General Meeting (AGM) for the financial year 2020-21 ending on 31st March 2021 citing many difficulties faced due to second wave of Covid-19 and consequent lockdowns etc.

2. Accordingly, it has been decided to advise the Registrar of Companies (RoCs) to accord approval for extension of time for a period of two Months beyond the due date by which companies are required to conduct their AGMs for the financial year 2020-21 ended on 31st March 2021.

3. Kindly find enclosed a copy of the standard template for the order to be issued by RoCs under third proviso to sub-section (1) of section 96 of the Companies Act, 2013 ( the Act) for granting extension of time for conducting of AGM for the Financial Year 2020-21 ended on 31.03.2021 .

4. Please take this action with utmost urgency and issue order before the close of the office today and forward the copy of the order to this office before for consolidation and uploading it on the MCA21 website. Also display this order on the Notice Board of your respective offices.

5. This issues with approval of the Competent Authority.

End: As above

(Gaurav)
Deputy Director

Annual General Meeting – Extension of Time Limit

FM Press Conference – MCA (Company Law) Related Matters

karthikandsunil, Leave a comment
  1. Moratorium from 01-04-2020 to 30-02-2020: No additional fee will be levied for late filing
  2. Board Meeting : 60 days relaxation will be give for Board Meeting for next 2 quarters. All Companies should convene Board meetings quarterly and for that additional 60days can be availed.
  3. CARO 2020 : Implementation of CARO 2020 will be from FY 2020-21
  4. In case a company needs to conduct a meeting with a Independent director in FY 2019-20, had not conducted the meeting, the same will not be considered as a violation.
  5. The time limit for filing Form INC-20A (Commencement of Business) had been extended by additional 6 months. The current time limit was 180 days.
  6. For a Company, one of the Director should be a resident (in India for 182 days or more), and the contravention is treated as violation as per Section 149 of Companies Act, 2013. For FY 2019-20, the same will not be treated as violation.
  7. Deposit Reserve: Company having deposits should deposit 20% by 30-04-2020 and the due date was 30-04-2020 and the same was extended to 30-06-2020.
  8. In case of debentures maturing in a particular year, 15% needs to be deposited by 30-04-2020. The due date was extended to 30-06-2020

The extract of Press note is given below:

FM Press Conference – MCA (Company Law) Related Matters

INC-22A – Form Active – Due date for filing extended till 15th June, 2019

karthikandsunil, , , , , , , Leave a comment

The government has extended the deadline for uploading photos of business premises to June 15, giving corporates more time to comply with a provision aimed at spotting shell companies.

“It has been decided to extend the date to June 15,” confirmed a corporate affairs ministry official. The same is reported in Economic Times.

This new electronic form INC 22A, which is also known as e-Form ACTIVE (Active Company Tagging Identities and Verification), was notified as part of the Companies (Incorporation) Amendment Rules, 2019 in February. If the form is filed within the due date, there is no fee, while late filing will attract a fine of Rs 10,000.

Ministry of Corporate Affairs, issued notifications regarding extension of due date for filing Form Active (INC-22A) and also changing the date of filing without any payment of fees and till 15-06-2019 and with payment of Rs.10,000/- for filing on or after 16-06-2019, by amending Companies (Incorporation) Rules, 2014 and Companies (Registration offices and Fees) Rules, 2014. Both the notification were issued on 25th April, 2019.

Source: https://economictimes.indiatimes.com & http://www.mca.gov.in

INC-22A – Form Active – Due date for filing extended till 15th June, 2019

DIR-3 KYC – Directors Annual KYC filing – Clarification by Ministry of Corporate Affairs

karthikandsunil, , , , , Leave a comment

Ministry of Corporate Affairs had made a clarification post (not by way of Notification or Circular) in their website http://www.mca.gov.in regarding the annual filing of DIR-3 KYC for those Directors who had already filed the form and for those DIN allotted post 31-03-2018.

The clarification states that the DIR-3 KYC e-form presently available on the portal does not cater for the following:

(i) Filing on annual basis, and

(ii) Filing in respect of DINs allotted post 31 March 2018. It presently caters only to those individuals who were allotted DINs as on 31st March 2018 and whose DINs have been marked as ‘Deactivated due to non-filing of DIR-3 KYC’.

It is also clarified that, the form is presently being modified to enable pre-filling of data & information so that annual filings can be done by DIN holders in a simple and user friendly manner. The revised form, which will be shortly deployed, can be filed without any fee within a period of 30 days from the date of deployment.

Source: http://www.mca.gov.in

DIR-3 KYC – Directors Annual KYC filing – Clarification by Ministry of Corporate Affairs

Companies Incorporation – Amendment in Rules

karthikandsunil, , Leave a comment
Companies (Incorporation) Rules, 2014 – Recent amaendment

The following welcome changes were bought in by Companies(Incorporation) Second Amendment Rule, 2019:

COMPANIES INCORPORATED AFTER 18TH MARCH 2019, WITH AN AUTHORISED CAPITAL OF RS.15,00,000/- FEE ON INC-32 (SPICE) IS NOT APPLICABLE. Currently the limit is Rs.10,00,000/-

In case of shifting of registered office of a company from one State/Union Territory to another, the company have to advertise in the Form No.INC.26 in the vernacular newspaper in the principal vernacular language in the district and in English language in an English newspaper with the widest circulation in the state in which the registered office of the company is situated.

By way of amendment, the phrase “with the widest circulation” is substituted with “with wide circulation“.

Companies Incorporation – Amendment in Rules

Companies Incorporated before December, 2017 needs to file INC-22A to make their status Active

karthikandsunil, Leave a comment

Ministry of Corporate Affairs vide notification dated 21st February, 2019 amended Companies (Incorporation) Rules, 2014 which require Companies Incorporated on or before 31st Decemeber, 2017 to file Active Company Tagging Identities and Verification (Form ACTIVE) on or before 25-04-2019.

Companies which are not filed Annual Returns and Financial Statements up-to Financial Year 2017-18 (MGT-7,AOC-4 etc) shall be restricted from filing Form ACTIVE. In the Form ACTIVE also you need to mention the Service Request Number (SRN) of Form MGT-7 & Form AOC-4 of Financial Year 2017-18.

The Companies which have been Struck-off or are under the process of Striking off or under liquidation or amalgamated or dissolved SHALL NOT be required to file Form – ACTIVE.

In case Company doesn’t file FORM ACTIVE, the company shall be marked as ACTIVE – non-compliant on or after 26th April, 2019. The following event based information and changes SHALL NOT be accepted in case of non-filing of Form ACTIVE:

  1. Change in Authorised Capital – Form SH-07
  2. Change in paid-up capital – Form PAS-03
  3. Change in Director except cessation – Form DIR-12
  4. Change in Registered Office – Form INC-22
  5. Amalgamation, Demerger – Form INC-28

The Company can file Form ACTIVE on or after 26-04-2019, and make the status of the Company Active – Compliant on payment of fee of Rupees Ten Thousand.

The Company had to upload photographs of the registered office (both external building and inside office showing therein at least one director who has affixed his/her Digital Signature in INC-22A).

Companies Incorporated before December, 2017 needs to file INC-22A to make their status Active