shantanu – Page 5

Period/Days of extension for names reserved and re-submission of forms

May 21, 2020

S.N. Issue Description Period/Days of Extension 1. Names reserved for 20 days for new company incorporation. SPICe+ Part B needs to be filed within 20 days of name reservation. Names expiring any day between 15th March 2020 to 31st May would be extended by 20 days beyond 31st May 2020. 2. Names reserved for 60 days for change of name of company. INC-24 needs to be filed within 60 days of name reservation. Names expiring…

COVID-19 related Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR)

May 21, 2020

shantanu

Blogs

S.N. FAQ Remarks 1. Whether contribution made to ‘PM CARES Fund’ shall qualify as CSR expenditure? Contribution made to ‘PM CARES Fund’ shall qualify as CSR expenditure under item no (viii) of Schedule VII of the Companies Act, 2013 and it has been further clarified vide Office memorandum F. No. CSR-05/1/2020-CSR-MCA dated 28th March, 2020. 2. Whether contribution made to ‘Chief Minister’s Relief Funds’ or ‘State Relief Fund for COVID-19’ shall qualify as CSR expenditure?…

Clarification on dispatch of notice under section 62 (2) of the Companies Act, 2013 by listed companies for rights issue opening up to 31st July, 2020

May 21, 2020

shantanu

company law, updates

The Ministry of Corporate Affairs has clarified that for rights issues opening up to 31st July, 2020, in case of listed companies, which comply with the aforementioned SEBI Circular dated 06th May, 2020, inability to dispatch the notice under section 62(1)(a)(i) of the Companies Act, 2013 to their shareholders through registered post or speed post or courier would not be viewed as violation of section 62(2) of the Companies Act, 2013. [Source: General Circular No.…

Clarification on holding of Annual General Meeting (AGM) through video conferencing (VC) or other audio-visual means (OAVM)

May 21, 2020

shantanu

company law, updates

In view of the continuing restrictions on the movement of persons at several places in the country, it has been decided that the companies be allowed to conduct their AGM through video conferencing (VC) or other audio-visual means (OAVM) during the calendar year 2020, subject to the fulfillment of certain requirements. [Source: General Circular No. 20/2020 dated 5th May, 2020]

Extension of the last date of filing of Form NFRA-2

May 21, 2020

shantanu

company law, updates

In continuation of the Ministry’s General Circular No.7/2020 dated 5th March, 2020 and after due examination, it has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19, will be 210 days from the date of deployment of this form on the website of the National Financial Reporting Authority (NFRA). [Source: General Circular No. 19/2020 dated 30th April, 2020]