Corporate Updates – 09-11-2017


MCA has notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017 and the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment)Regulations, 2017 both shall come into force on the date of their publication in the Official Gazette. A resolution plan shall disclose details of the resolution applicant and other connected persons to enable the Committee of Creditors to assess credibility of such applicant and other connected persons to take a prudent decision while considering the resolution plan for its approval. The resolution plan shall disclose the details in respect of the resolution applicant, persons who are promoters or in management or control of the resolution applicant; persons who will be promoters or in management or control of the business of the corporate debtor during the implementation of the resolution plan; and their holding companies, subsidiary companies, associate companies and related parties, if any. It shall disclose details of convictions, pending criminal proceedings, disqualifications under the Companies Act, 2013, orders or directions issued by SEBI, categorization as a willful defaulter, etc..


The Union Ministry of Home Affairs has made it mandatory for all Non Governmental Organisations (NGO’s) to register with Niti Aayog’s portal NGO Darpan, if they want to receive orhope to receive foreign funding. The notice states that in order to receive money under the Foreign Contribution Regulation Act, 2010, NGOs must obtain a Unique Darpan Identification Number from the portal. Registration will involve providing contact details as well as PAN and Aadhaar numbers of the organisation’s key functionaries. The deadline for registration has not been specified. Further, MHA has made it clear that availing FCRA online services such as uploading annual returns (in online Form FC 4) or changes (in online Form FC 6) will require Unique Darpan Identification Number. NGO-Darpan (NGO Mirror) is a platform that provides space for interface between Voluntary Organisations / NGOs and key Government Ministries / Departments / Government Bodies

News from NIRC of ICSI

NIRC of ICSI is organising Rajasthan State Conference on the theme Corporate Laws – Reforms And Ease of Doing Business on Saturday, the 11th November, 2017 (9.30 AM to 5.30 PM) at Hotel Hilton, 42 Geejgarh House, Hawa Sadak, Jaipur – 302006. Fees : Rs.750/- (For Members/Students/Others); Free Corporate Members of NIRC (Delhi & Chapters). PCH – 4.

Speak Your Mind