Ministry of Corporate Affairs

Companies (Removal of Difficulties) Order, 2013: Ministry of Corporate Affairs (MCA)Vide Companies (Removal of Difficulties) Order, 2013 dated 20/09/2013 notified as under.

1. The order may be called Companies (Removal of Difficulties) Order, 2013.

2. Continuance of matters, proceedings or cases before the Company Law Board until there are transferred to tribunal under Section 434:-

It is clarified that until a date is notified by the Central Government under sub-section(1) of Section 434 of the Companies Act, 2013(18 of 2013) for transfer of all matters, proceeding or cases to the Tribunal constituted under Chapter XXVII of the said Act, the Board of the Company Law Administration shall exercise the power of the Tribunal under sections 24,58 and Section 59 in pursuance of the second proviso to subsection (1) of section 465 of the said Act.

Clarification on the notification dated 12.9.2013: MCA Vide General Circular No. 16/2013 dated 18.09.2013 clarified that with effect from 12.09.2013, the relevant provisions of the Companies Act, 1956, which correspond to provisions of 98 sections of the companies Act, 2013 brought into force on 12.09.2013, will cease to have effect from that date.

Clarification on the notification dated 12.9.2013: MCA has vide General Circular No. 15/2013 dated 13.09.2013 clarified on certain difficulties expressed by the stakeholders in the implementation of 98 sections of the provisions of the Companies Act, 2013. It was clarified that:

1. Sub-section (68) of section 2:- Registrar of Companies may register those Memorandum and Articles of Association received till 11.9.2013 as per the definition clause of the ‘private company’ under the Companies Act 1956 without referring to the definition of ‘private company’ under the “said Act”.

2. Section 102: All the Companies which have issued notices of general meeting on or after 12.09.2013, the statement to be annexed to the notice shall comply with additional requirements as prescribed in section 102 of the “said Act”.

3. Section 133: Till the Standards of Accounting or any addendum thereto are prescribed by Central Government in consultation and recommendation of the National Financial Reporting Authority, the existing Accounting Standards notified under the Companies Act,1956 shall continue to apply.

4. Section 180: In respect to the requirement to the Special Resolution under Section 180 of the “said Act” as against ordinary resolution required by the Companies Act 1956, if notice for any such general meeting was issued prior to 12.09.2013, then such resolution may be passed in accordance with the requirement of the Companies Act, 1956

Commencement Notification Of Companies Act 2013: MCA Vide Commencement Notification dated 12/09/2013 notified that the Central Government appointed the 12th day of September, 2013 as the date on which the 98 provisions of the Companies Act, 2013 as mentioned in the notifications have come into force.

Relaxation of last date and additional fee in filling of e-form 23C for Appointment of Cost Auditor: MCA vide General Circular No. 14/2013 dated 3^rd September, 2013 has decided to extend the last date of filing and to relax the additional applicable fees on e-forms 23C upto 31^st October, 2013 and as such the e-form 23C can be filed for appointment of the cost Auditor with normal applicable fee, upto 31^st October, 2013 or within 90 days of the Commencement of the Company’s financial year to which the appointment relates, which ever is later.