Corporate Updates – 06-04-2016


MCA has notified the New version of eForm INC-1 (Application for reservation of name) and MR-1 (Return of appointment of MD/WTD/Manager) w.e.f 6th April, 2016 and the same are available on MCA21 Portal. Only new version of the eForm will be acceptable. Stakeholders are requested to plan accordingly and ensure that you have downloaded the latest version for filing and uploading the latest version only. Form- wise date of last version change is available at on the website of MCA.


The Reserve Bank of India has made amendments in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 which may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifth Amendment) Regulations, 2016 and shall come into force from the date of their publication in the Official Gazette. 26% FDI was permitted in the insurance sector under the automatic route and government approval was required for FDI beyond 26% and up to 49%. Now, up to 49% FDI is permitted under the automatic route, subject to prescribed conditions. In addition, it has now been prescribed that the investment under the automatic route up to 49% shall be subject to verification by the Insurance Regulatory and Development Authority of India.

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