Corporate Updates – 10-05-2016


Ministry of Corporate Affairs has notified new version of e-Forms of Forms PAS-3 (Return of allotment), CHG-1 (Application for registration of creation, modification of charge), DIR-12 (Particulars of appointment of Directors and the key managerial personnel and the changes among them), SH-11(Return in respect of buy-back of securities), FTE (Application for striking off the name of company under the Fast Track Exit (FTE) Mode). Stakeholders are advised to download the latest version before filing. Form- wise date of last version change is available at on the website of MCA.


RBI vide notification has repealed Foreign Exchange Management (Deposit) Regulations, 2000 and it has been superseded by the Foreign Exchange Management (Deposit) Regulations, 2016. These regulations seek to regulate deposits between a person resident in India and a person resident outside India. Under the revised regulations, no restriction shall be applicable for opening of rupee/ foreign currency deposit accounts by foreign diplomatic missions and diplomatic personnel or their family members in India with an Authorised Dealer in India. RBI also allowed banks to issue International Credit Cards (ICCs) to NRIs and PIOs. Certain restrictions under the revised regulations have been placed on individuals or entities of Pakistan or Bangladesh nationality/ownership. These regulations shall come into effect from April 1, 2016.

News from NIRC of ICSI

Registration open for Regional Residential Conference to be held on May 20-21, 2016 (Friday and Saturday) at INFINITY RESORT, JIM CORBETT, Dist. Ramnagar, Dhikuli, Uttarakhand- 244715. Fee : Non-Residential – Rs. 2000/-; Residential : Rs. 8,250/-, Online payment option available. PCH –8.

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