updates

The Ministry of Corporate Affairs (MCA) has notified the Companies (Management and Administration) Amendment Rules, 2020 which shall come into force on the date of their publication in the official gazette i.e. 28th August, 2020. Through this amendment, a new proviso has been added to Rule 12(1) as provided that a company shall not be required to attach the extract of the annual return with the Board’s report in Form No. MGT.9, in case the…

The Ministry of Corporate Affairs (MCA) has notified the further amendments in Schedule VII to the Companies Act, 2013, which shall come into force on the date of their publication in the Official Gazette. The amendments are made in the item (ix) and the entries thereto, to substitute the same with the new clause. According to the amendments, contribution to incubators or research and development projects in the field of science, technology, engineering and medicine,…

The Ministry of Corporate Affairs (MCA) has notified the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020, which shall come into force on the date of their publication in the Official Gazette. A new proviso has been added in Rule 2 (1)(e), to provided that any Company engaged in research and development activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vaccine,…

The Ministry of Corporate Affairs has clarified that in case of listed companies, which comply with relevant circulars issued by SEBI, inability to dispatch the relevant notice to shareholders through registered post or speed post or courier would not be viewed as a violation of section 62(2) of the Act for rights issues opening up to 31st December, 2020. Other requirements provided in the said General Circular remain unchanged. [Source: General Circular No. 27/2020 dated…