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.
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.
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% …
Reserve Bank of India (RBI) vide A.P. (DIR Series) Circular No. 73 dated 29th June, 2011 Liberalized Overseas Direct Investment provisions relating to transfer by way of sale of shares of a joint venture or wholly owned subsidiary (JV or WOS) outside India with and without write off upon fulfillment of certain conditions.
RBI vide A. P. (DIR Series) Circular No. 74 dated 30th June, 2011 specified the issue equity, preference shares under the government route of the foreign direct investment scheme for specified categories and payments shall be made directly by the foreign investor to the company. Payments made through third parties citing the …
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