Thursday, 27 July 2017

IMPORTANT NOTICE AT MCA WEBSITE



Forms DIR-12, CRA-4, SPICe and INC-27 are likely to be revised on MCA21 Company Forms Download page w.e.f 29th Jul 2017. Stakeholders are advised to check the latest version before filing.

With Regards

CS Prakash Verma

Wednesday, 26 July 2017

MCA Clarification regarding applicability of exemption u/s 143(3)(i) of Companies Act, 2013

MCA Update:

Clarification regarding applicability of exemption u/s 143(3)(i) of Companies Act, 2013

Ministry of Corporate Affairs (MCA) has issued a circular dated 25th July, 2017 clarifying the year from which the exemption u/s 143(3)(i) of the Act will be applicable to certain private limited companies.

Earlier, MCA had issued a notification dated 13th June, 2017 amending its previous notification dated 05th June, 2015 which has prescribed exemptions for Private Limited Companies. By this new notification dated 13th June, 2017, alongwith other matters, MCA has given exemption that Auditor is not required to mention details about internal financial control for certain private companies (small companies, OPCs and other specified Private companies).

However, it was not clear from which year this exemption can be implemented. Upon seeking clarifications by stakeholders, MCA by issuing the Circular dated 25th July, 2017 has clarified that this exemption shall be applicable to those audit reports in respect of financial statements pertaining to financial years commencing on or after 01st April, 2016 which are made on or after 13th June, 2017.

Copy of this Circular can be accessed at below link:
http://www.mca.gov.in/Ministry/pdf/GeneralCircular8_25072017.pdf

Copy of Notification dated 13th June, 2017 can be accessed at below link:
http://egazette.nic.in/WriteReadData/2017/176689.pdf

WBR
Prkverma

Friday, 21 July 2017

Important Notice on MCA Website about XBRL

Updated MCA XBRL Validation Tool version and business rules CSR reporting Business Rules related to the XBRL C&I taxonomy 2016 have been revised. 

Stakeholders are advised to make a note of the changes and use new version of MCA XBRL Validation Tool V3.0.6 while filing AOC-4 XBRL.

With Regards
CS Prakash Verma

Wednesday, 19 July 2017

IMPORTANT NOTICE AT MCA WEBSITE

Form AOC-4, CRA-2 and 21A are likely to be revised on MCA21 Company Forms Download page w.e.f 21st Jul 2017. Stakeholders are advised to check the latest version before filing.



With Regards
CS Prakash Verma

Tuesday, 11 July 2017

Insolvency resolution ecosystem is not ready yet, says SBI Chairperson, Arundhati Bhattacharya

Insolvency resolution ecosystem is not ready yet, says SBI's Arundhati Bhattacharya

http://economictimes.indiatimes.com/news/economy/policy/insolvency-resolution-ecosystem-is-not-ready-yet-says-sbis-arundhati-bhattacharya/articleshow/59547034.cms

Friday, 7 July 2017

NCLT Order - Misrepresentation in BS of the Company

Company wrongly shown issued capital as Rs.84  cr instead of Rs.100 cr. in violation of Sec.211 of CA 1956.  Co. contended that the  default did not cause any prejudice to members, creditors and no harm was caused to public interest.  NCLT however refused to  compound the offence:

http://nclt.c2k.in/OtherNCLT/Publication/Hyderabad_Bench/2017/Other/JellaJaganN.pdf

With Regards
Prakash Verma

Wednesday, 5 July 2017

TGL ADVISORS ® : Automated issuance of Patent Certificates - India

TGL ADVISORS ® : Automated issuance of Patent Certificates - India: The CGPDTM (Patents office, India) has implemented automated process for generation and issuance of Patent Certificates from 03/07/2017. ...

Automated issuance of Patent Certificates - India

The CGPDTM (Patents office, India) has implemented automated process for generation and issuance of Patent Certificates from 03/07/2017.

Above said info may be access from below link -

http://www.ipindia.gov.in/writereaddata/Portal/News/352_1_PublicNotice-PatentCertificate.pdf

With Regards
CS Prakash Verma

Tuesday, 4 July 2017

IMPORTANT NOTICE AT MCA WEBSITE


"IMPORTANT NOTICE AT MCA WEBSITE"

SPICe form is likely to be revised on MCA21 Company Forms Download page w.e.f 5th July, 2017. Stakeholders are advised to check the latest version before filing.


With Regards

CS Prakash Verma

Monday, 3 July 2017

"Comprehensive e-filing for Patents Update"

"Comprehensive e-filing for Patents Update" 
 
The current webpage lists the periodic updates done in the comprehensive e-filing module for Patents:

Name Update Release Date
Petition u/r 128 Addition of Rule 128 in "On petition not otherwise provided for" 2017-06-21
Segregation of different Petitions under Form 30 Seperate entries of Petition in Entry no. 46 (Schedule 1) 2017-06-21
Request for Withdrawal U/R 11A(3)(c) New entry provided in Form 30 (without fee) 2017-06-19
Filing of Response to office action New entry has been provided in Form 30 (both with fee as well as without fee) 2017-06-14
Issues with respect to type of applicant (NP/ONP/SE/SU) in fee calculation Provision of selection of type of applicant has been provided in form 18, form 18A, Renewal of patent, form 9 and transmittal fee 2017-06-12
Conversion of CS to PS under section 9(3) New entry provided in Form 30 (without fee) 2017-06-07
Request for Hearing U/R 84(2) New entry provided in Form 30 (without fee) 2017-05-29
Notify the Controller whether he will attend the hearing U/R28(4) New entry provided in Form 30 (without fee) 2017-05-29

  • New Unique Numbering System
  • The CBRs for all the e-filed applications can now be downloaded immediately after successful payment by the users
  • The Axis Bank Corporate login in the e-filing payment gateway is temporarily unavailable due to some technical reasons.The users are advised to use other available payment options.

Saturday, 1 July 2017

PAN / TAN Fees

"Notice from Ministry of Corporate Affairs"

Stakeholders may kindly note that PAN fee shall be revised from INR 107 to INR 110 and TAN fee from INR 63 to INR 65 due to implementation of GST w.e.f 1st July 2017.

With Regards
CS Prakash Verma

Friday, 30 June 2017

Notice inviting comments on amendments to Companies (Specification of Definitions Details) Rules, 2014

"Public Notice from Ministry of Corporate Affairs"

The proviso to clause (87) of section 2 of the Companies Act, 2013 provides for restricting class or classes of holding companies from having layers of subsidiaries beyond prescribed number. Based on suggestions received, the Ministry of Corporate Affairs (MCA) is considering commencing the said provision.

Accordingly, a notification proposing amendments to the Companies (Specification of Definitions Details) Rules, 2014 containing the above prescription has been drafted and is available, along with a background/explanatory note, on the online portal of the Ministry, www.mca.gov.in. It has been decided to invite suggestions/comments on the draft notification/rules from stakeholders. Comments/suggestions on the draft rules along with justifications in brief may be sent latest by 20th July, 2017 through email at csddar@mca.gov.in. It is requested that the name, contact number, email address and postal address of the sender be indicated clearly at the time of sending suggestions/comments in the given format.

Link for the above said Notice is given below-

http://www.mca.gov.in/Ministry/pdf/Notice_29062017.pdf


With Regards
CS Prakash Verma

Thursday, 29 June 2017

JackMa's Pure Wisdom



TODAY IS VERY DIFFICULT !
TOMORROW IS EVEN MORE DIFFICULT !!
BUT THE DAY AFTER TOMORROW IS VERY BEAUTIFUL !!!

Wednesday, 28 June 2017

Surrender DIN - MCA / ROC

DIR-5 (Application for surrender of Director Identification Number) has been deployed as an e-form for filing purposes. Stakeholders who wish to surrender DINs shall be required to file this e-form instead of it being filed as an attachment to form RD-1. Please plan accordingly before filing of DIN surrender application.

Link for DIR-5 is given below-

http://www.mca.gov.in/MCA21/dca/downloadeforms/eformTemplates/NCA/Form_DIR-5_help.zip

With Regards
CS Prakash Verma