Ministry of Corporate Affairs

Clarification with regard to applicability of provision of Section 372A of the Companies Act, 1956:

Consequent to the notification of Section 185 of the Companies Act, 2013 dealing with loans to directors which corresponds to Section 295 of the Companies Act, 1956, the Ministry had been approached with a number of representations. Section 186 of the Companies Act, 2013 is yet to be notified. MCA has vide General Circular No. 18/2013 dated 19^th November, 2013 clarified that Section 372A of the Companies Act, 1956 dealing with inter-corporate loans shall continue to remain in force till section 186. of the Companies Act, 2013 is notified
Relaxation of last date and additional fee in filing of e-Form 23C for Appointment of Cost Auditor:

MCA had vide General Circular No. 14/2013 dated 3rd September, 2013 extended the last date of filing on e-form 23C up to 31^st October, 2013 or within 30 days of the commencement of the company’s financial year to which the appointment relates, whichever is later.

MCA has now vide General Circular No. 17/2013 dated 1st November, 2013 decided to extend the last date of filing and to relax the additional fee applicable on e-form 23C to 30th November, 2013 or within 30 days of the commencement of the company’s financial year to which the appointment relates, whichever is later.

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