S. Jaykishan

Chartered Accountants

Tag Archive for MCA

KYC of Active Companies – MCA’s spree to clean up the waste

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KYC of Active Companies – MCA’s spree to clean up the waste

– CS Aditi Jhunjhunwala

–  Mayank Kumar

In its further endeavour to eradicate the sham companies the Ministry of Corporate Affairs has come up with Notification dated 21st February, 2019 inserting Rule 25A vide Companies (Incorporation) Amendment Rules, 2019 providing for KYC of companies pursuant to powers under section 12 (9) and 469 of the Companies Act, 2013.

The introduction of ACTIVE is another fall out of the MCA’s drive after striking of […] Read More >>





Shareholders are free to decide managerial remuneration

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Shareholders are free to decide managerial remuneration

(Date: 14/09/2018)

The Ministry of Corporate Affairs has done away with the mandatory approval from the Central Govt. for payment of managerial remuneration to top executives which means they can receive salary in excess of 11 per cent of net profit of a company. Now, the decision for payment of excess salary to top executives will be approved by the shareholders through special resolution.

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Issuance and transfer of shares in dematerialized form by unlisted public companies

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Issuance and transfer of shares in dematerialized form by unlisted public companies

(Date: 11/09/2018)

The Ministry of Corporate Affairs (MCA) has amended the Companies (Prospectus and Allotment of Securities) Rules, 2014 wherein it has made it mandatory for all Unlisted Public Companies to issue the securities only in dematerialized form and to facilitate dematerialization of all its existing securities in accordance with provisions of the Depositories Act, 1996 and regulations made there under. The MCA has taken this step as a measure […] Read More >>


Relaxation of additional fees and extension of last date of filing Form BEN-2

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Relaxation of additional fees and extension of last date of filing Form BEN-2

(Date: 7/09/2018)

The Ministry of Corporate Affairs has received several representations regarding the extension of the last date of filing of e-form BEN 2 without additional fees. Post examining, it has been decided that the time limit for filing the BEN-2 form would be 30 days from the date of deployment on the MCA 21 portal and no additional fees shall be levied if filed within 30 days of […] Read More >>