Corporate Updates 02 April 2014

MCA has notified rules for various other Chapters of the Companies Act, 2013. All rules are applicable from 01-04-2014.

Chapter XXII- The Companies (Registration of Foreign Companies) Rules, 2014.
Chapter XIV: Companies (Inspection, Investigation and Inquiry) Rules, 2014
Chapter XIII- The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
Chapter XXIV – The Companies (Registration Offices and Fees) Rules, 2014.
Chapter XXI -The Companies (Authorised to Registered) Rules, 2014.

RBI through its Press Release orders non-levy of fines for low balances in saving account and asks banks to cut down services for such accounts. Banks should not levy penal charges for non-maintenance of minimum balance in ordinary savings bank account and inoperative accounts, but instead curtail the services accorded those accounts until the balance is restored.

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