Dear All,
Sub : Companies Act 2013-- Amendments and Relaxation granted through Circulars extending the time of various form/ return filing and compliance
Please find detailed amendment given by MCA under the Companies Act 2013 with extension of timelines till 31 Dec 2020 for various compliances under the Companies Act, 2013. Copies of all Circulars and Notifications are as attached.
1. Circular No. 30/ 2020 dt 28092020====Extension of Companies Fresh Start Scheme, 2020 (CFSS 2020)
2. Circular No. 31/ 2020 dt 28092020===== Extension of LLP Settlement Scheme, 2020
3. Circular No. 32/ 2020 dt 28092020===== Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013
4. Circular No. 33/ 2020 dt 28092020====Allowing conducting of EGM through VC or Other Audio Visual Means
5. Notification No. G.S.R. 590(E) dt 28092020 ====Extending the time upto which the companies can conduct Board meetings through VC or Other Audio Visual Means
6. Notification No. G.S.R. 589(E)dt 28092020====Extending the time within which Independent Directors can register themselves on databank maintained by IICA
Further please note that the Companies (Amendment) Bill , 2020 was passed in Lok Sabha on 17th Sept 2020 and in Rajya Sabha on 22nd Sept 2020 has now received the assent of President of India on 28th Sept, 2020 and now it has become the Companies ( Amendment ) Act , 2020 . Few synopsis of CAA 2020 is as attached for your ready perusal.
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ear Members,
There are many news on amendments to current FDI policy in India.
Please share the amendments/notification if any on same.
Also as read "An entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route," according to a press note by the Department for Promotion of Industry and Internal Trade (DPIIT).
In my scenario the Indian company is WOS of a Singapore company which holds 99% of shares and the investment was under automatic route. Now the Indian company has proposed to make a right issue.
In my opinion this new amendment to FDI do not apply here as Singapore do not share land border nor it indirectly getting fund from any of such border sharing countries. Hence Govt approval is not necessary.
Please share your views.
Q. Curtsy
Swetha.V
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Respected Members,
In Exp. III rule 2 of Companies (Significant Beneficial Owners) Amendment Rules, 2019 dt.08.02.2019 it is written that - For the purpose of this clause, an individual shall be considered to hold a right or entitlement indirectly in the reporting company, if he satisfies any of the following criteria, in respect of a member of the reporting company, namely:
(ii) where the member of the reporting company is a Hindu Undivided Family (HUF) (through Karta), and the individual is the Karta of the HUF;
My query is, in my register of members simply name of share holder is written as XYZ HUF. The fund is pulled from HUF's Account only. It is no where written that HUF is holding shares through karta. Then in such case BEN-1 and BEN 2 will applicable or not?
It will be great if someone can provide guidance on above.
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Cany any on highlights the impact of New amendments for disqualification of directors and the consequent vacation of their office ?
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Can anyone please tell me what Amendments come in relation to Register of significant beneficial owners in a company?
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