Divya Sharma & Associates, Company Secretaries

31/12/2020

*MCA Update*,

MCA has further extended the dates for conducting Board meetings through Video Conference (VC) / Other Audio-Visual Means (OAVM), for approving financial statements and other restricted agenda items, from *31st December 2020 to 30th June 2021.

28/12/2020

Compendium of Exemptions & Applicability of Provisions for Section 8 company under CA 2013

Compendium of Exemptions and Applicability of provisions under CA, 2013 with modifications

28/12/2020

Compendium of Exemptions and Applicability of provisions under CA, 2013 with modifications

17/06/2020

*MCA UPDATE | 17.06.2020*
*General Circular No. 23/2020*

A long awaited exemption came today in respect of filing of Form CHG 1 and CHG 9.

MCA came with some fees relaxation for charges pending from such certain date

File your pending charge at the earliest possible, if covered under the below scheme.

The Link of the scheme attached.

14/05/2020

New Definition of MSME as announced by FM

Low threshold in MSME definition have created a fear among MSMEs of graduating out of the benefits and hence
killing the urge to grow.

• There has been a long-pending demand for revisions.

Announcement:

• Definition of MSMEs will be revised
• Investment limit will be revised upwards
• Additional criteria of turnover also being introduced.
• Distinction between manufacturing and service sector to be
eliminated.
• Necessary amendments to law will be brought about.

Revised Definition of Micro, Small & Medium Enterprises

Micro

Investment< Rs. 1 cr.
and
Turnover < Rs.5 cr.

Small

Investment< Rs. 10 cr.
and
Turnover < Rs.50 cr.

Medium

Investment< Rs. 20 cr.
and
Turnover < Rs.100 cr.

13/05/2020

Additional relaxation in relation to compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 – Covid-19 pandemic

12/05/2020

Exemptions from various provisions under Factories Act, 1948.

Government of Uttar Pradesh vide notification no.No. 13 /2020/ 502 /###VI-03-2020- 30 (Sa.)/2020TC has exempted all factories registered under The Factories Act, 1948 in the state from the provisions of Section 51 (Weekly Hours), Section 54 (Daily Hours), Section 55 (Interval Of Rest), Section 56 (Spread Hours), Section 59 (Extra wages for overtime) with effect from 20th April 2020 till 19th July 2020 subject to aforesaid conditions,
1. No adult worker shall be allowed or required to work in a factory for more than twelve hours in any day and Seventy-two hours in any week.
2. The periods of work of adult workers in a factory each day shall be so fixed that no period shall exceed six hours and that no worker shall work for more than six hours before he has had an interval for rest of at least half an hour.
3. Wages shall be in proportion of the existing wages. (e.g. If wages for eight hours are 80 Rupees, then proportionate wages for twelve hours will be 120 Rupees. Hence, employers having their factories in the state of Uttar Pradesh registered under the Act may avail the benefit of extended working hours allowed at their factories in adherence to the specific instruction issued hereinabove including payment of overtime wages.

06/05/2020

Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)_
http://www.mca.gov.in/Ministry/pdf/Circular20_05052020.pd

30/04/2020

Notification of Companies (Appointment and Qualifications of Directors) Second Amendment Rules, 2020 by Ministry of Corporate Affairs:

Extension of deadline for Independent Directors to get themselves registered with the Data Bank from April 30, 2020 to June 2020.

Through this notification, MCA has extended the deadline for those individuals who were acting in the capacity of Independent Directors as on 01/12/2019 to get themselves registered with the Data Bank as prescribed by Companies (Appointment & Qualification of Directors) Fifth Amendment Rules, 2019 to June 2020, as against the earlier deadline of April 2020.