MCA extends the date for submission of comments/suggestions through e- Consultation Platform and the email till 15th May, 2022 – Notice dated 10.05.2022

Ministry of Corporate Affairs Notice inviting comments on the Report of the Company Law Committee (2022) Dated: 21st April, 2022 In continuation to the Notice dated 12th April, 2022 inviting comments/ suggestions on the Company Law Committee Report (2022) through…

Whether the Surat Municipal Corporation can claim any first charge or precedence over a property which is subject matter of e-auction under Liquidation Process, for the purpose of recovering the arrears towards the liability of property tax – M/s. Alpesh Gems Vs. Surat Municipal Corporation – Gujarat High Court

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MCA amends Nidhi Rules, 2014 to safeguard the interest of general public – The Nidhi (Amendment) Rules, 2022 – MCA Notification No. G.S.R. 301(E) dated 19.04.2022

To safeguard the interest of general public, it has become imperative that before becoming its member, one must ensure declaration of a company as a Nidhi by the Central Government and towards this, few necessary/important amendments in the Rules have been carried out which are applicable to the Companies to be incorporated after Nidhi (amendment) Rule, 2022, as under:- 1. A Public Company incorporated as a Nidhi with a share capital of Rs. 10 lakhs; needs to first get itself declared as a Nidhi from the Central Government by applying in form NDH-4 with a minimum membership of 200 and NOF of Rs. 20 lac within 120 days of its incorporation. 2. The Promoters and Directors of the company have to meet the criteria of fit and proper person as laid down in the rules. 3. For timely disposal, it has also been provided in amended Rules that in case no decision is conveyed by the Central Government within 45 days of the receipt of applications filed by companies in form NDH-4, approval would be deemed as granted. This would apply for such companies which shall be incorporated after Nidhi (Amendment) Rules, 2022.

Declaration for Commencement of Business (COB) from Central Government is also now required for Nidhi – The Companies (Incorporation) Amendment Rules, 2022 – MCA Notification No. – G.S.R. 291(E) dated 08.04.2022

MCA amends Companies (Incorporation) Rules, 2014 that declaration by the Central Government under section 406 of the Act shall be obtained by the Nidhi before commencing the business and a declaration in this behalf shall be submitted at the stage of incorporation by the company.

The Companies (Management and Administration) Amendment Rules, 2022 – MCA Notification No. – G.S.R. 279(E) dated 06.04.2022

MCA amends the Companies (Management and Administration) Rules, 2014 that the particulars namely, address or registered address (in case of a body corporate); e-mail ID; Unique Identification Number; and PAN Number, of the register or index or return in respect of the members of a company shall not be made available for any inspection under section 94(2) or for taking extracts or copies under section 94(3).

The Companies (Indian Accounting Standards) Amendment Rules, 2022 – MCA Notification No. – G.S.R. 255(E) dated 23.03.2022

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 23rd March, 2022 G.S.R 255(E).—In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the National Financial…