MCA issued a Notification no. GSF 453 dated 14th June, 2011 amending the Companies Regulations, 1956 by reclassifying the jurisdictional region of RD’s from four to six by inserting two new regions i.e. Eastern & North Eastern Region and South East Region Directorate Headquarter at Hyderabad. These new Regulations will be known as Companies (Amendment) Regulations, 2011.
MCA vide its notification dated 10th June, 2011, has amended the provisions of Section 4A of the Companies Act, 1956 and inserted four more companies in the list of the Public Financial Institutions (PFIs) which will be known as PFIs.
The Government of India has circulated the model draft Legal Metrology (Enforcement) Rules, 2011 for States/UTs. Meanwhile, most of the State Governments have published draft notification in the State Gazette, inviting objection, if any, to be submitted within 30 days of the publication. Salient Features License for manufacturing, dealership or repairing will remain valid for one to …
Model Legal Metrology (Enforcement) Rules, 2011 for States Read More »
MCA vide notification no. GSR 430 (E) dated 3rd June, 2011, revised Cost Audit Report rules and issued new Companies (Cost Audit Report) Rule, 2011. The said rules shall be applicable to every Company in respect of which an audit of the cost records has been ordered by the Central Government under sub-section (1) of Section 233B of the Companies Act, 1956.
MCA vide notification no. GSR 429 (E) dated 3rd June, 2011,has revised and issued new Companies (Cost Accounting Records) Rules, 2011. The Company’s to which these rules apply has to obtain a Compliance Report, in each of its financial year commencing on or after 1st April, 2011 duly certified by a Cost Accountant and submit the same to the Central Government …
MCA vide Letter No. F. No. 3/57/2011-CL.II dated 3rd June, 2011 has initiated a new process of “Lok Adalats” to review and ascertain the legal cases where the companies and their officers in default are inclined to get the offences compounded. MCA has asked all the ROC’s and Regional Director’s (RD) to organize Lok Adalats headed by RD’s …
MCA has taken another initiative in order to eliminate the inconvenience caused due to payment processing delays by introducing payment of MCA filing fees via National Electronic Fund Transfer (NEFT) mode, in addition to the existing payment methods i.e. Credit Card, Internet Banking & Physical Challan (for payments in excess of Rs. 50,000/-). Please click here for NEFT payment user guide.
Definition of Pre-packaged commodities : The significant changes that are discernible between the earlier and the new leaner version of the legislation include pre-packaged commodities being defined in the Act itself rather than in the rules, and the same now being linked with the quantity rather than the value. Appointment of Controller and Other Officers of Legal …
Synopsis of the new act and the rules made there under: Read More »
MCA vide letter no. 17/143/2011-CL.V issued draft Companies (Dematerialization of Certificates) Rules, 2011, so that Public Companies and their subsidiaries which have raised money by issue of shares, debentures, accepting public deposits, stock, bond or any other financial instruments from public, other than from directors of the company, shall be required to issue and keep such share certificates, debenture certificates and certificates …
Dematerialization of Share Certificate by Public Companies Read More »
Securities and Exchange Board of India (SEBI) vide Cir/ISD/ 3/2011 dated 17th June, 2011 has made dematerialization of Promoter’s shares in all the listed companies mandatory, in order to improve transparency in the dealings of shares by promoters including pledge / usage as collateral. In order to trade the Companies Securities in normal segment, all the listed Companies have to achieve 100% …
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