Corporate Updates – 10-07-2017


MCA has issued amendments to National Company Law Tribunal (Amendment) Rules, 2017 to introduce the new Form NCLT – 9 for filing an appeal or application to NCLT for revival or restoration of the name of the company under Section 252(1) or 252(3). In the National Company Law Tribunal Rules, 2016, after Rule 87, Rule 87A shall be inserted which provides for Appeal or application under Section 252(1) and 252(3) before the Tribunal in Form No. NCLT. 9, with such modifications as may be necessary. Such application Shall be served to ROC and person as the tribunal may direct not less 14 days before the date fixed for hearing of the appeal or application. NCLT shall give appropriate orders for restoration of name, cost to be paid and to file all pending returns with ROC as it deems fit.


MCA has issued Companies (Appointment and Qualification of Directors) Amendment Rules, 2017 which shall come into force from the date of publication in the Official Gazette i.e 5th July, 2017. Through this notification, exemptions have been granted to certain classes of companies from appointment of Independent Director on the Board of the Company. The following classes of unlisted public company shall not be covered under sub-rule (1) are a joint venture, a wholly owned subsidiary and a dormant company as defined under section 455 of the Act. Further, In the principal rules, in the Annexure, for Physical Form DIR-5 (Application for surrender of Director Identification Number) an e-form DIR-5 shall be substituted.

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