Corporate Updates – 01-05-2015


The Union Cabinet gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014:-

1. Doing away with the requirement for filing a declaration by a company before commencement of business or exercising its borrowing powers and

2. rationalizing the procedure for laying draft notifications granting exemptions to various classes of companies or modifying provisions of the Act in Parliament, in order to ensure speedier issue of final notifications.

These Official Amendments will address issues related to ease of doing business and put in place a speedier process for approval of draft notifications for providing exemptions etc. from specific provisions of the Act to a class of companies.


DVAT Authorities with an intention to accelerate the registration process under ‘Ease of Doing Business’ Campaign has now been decided to issue registration certificates in shortest possible time. As per the new process, Dealer is required to furnish PAN and brief particulars including email, mobile phone etc., and upon verification of PAN, user ID and password would be communicated to the registrant on the same day. Dealer can file registration application under DVAT and/ or CST, as the case may be, and deposit fee online. Further, Registration number / TIN would be generated on submission of application and Registration Certificate would be made available in the login of dealer on the same day. It would be a Provisional Registration till physical verification is made. The procedure as detailed above shall taken effect from 30th April, 2015.

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