Corporate Updates – 01-07-2016


Ministry of Corporate Affairs has notified the Companies (Acceptance of Deposits) Amendment Rules,2016 which shall come into force on the date of their publication in the Official Gazette. The amendment has revised items which are not included in the definition of deposit. It has inserted the definition of start-up Company and has further stated that any amount of twenty five lakh rupees or more received by a start-up company, by way of a convertible note in a single tranche, from a person shall not be considered a deposit. Further, in Form DPT-1, a disclaimer para as provided in the notification shall be inserted.


The National Company Law Tribunal (NCLT) has laid down the criteria for listing of matters before the National Company Law Tribunal, Principal Bench and National Company Law Tribunal, New Delhi Bench. There are two NCLT Benches in Delhi. One is the Principal Bench and other the New Delhi Bench. All matters relating to companies having paid up share capital of more than Rs. 50 Lakhs to be listed before NCLT Principal Bench. Any other matter as per specific direction of President, NCLT will also get listed before Principal Bench. Matters relating to companies with paid up capital upto Rs. 50 lacs will get listed before NCLT New Delhi Bench.

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