Corporate Updates – 11-03-2015

MCA:

MCA has clarified the Applicability of provisions of Section 186 of the Companies Act, 2013 relating to grant of loans and advances by companies to their employees. This clarification was much awaited, as the corporate are generally extending advances and granting loans to their employees. It has been clarified that loans and/or Advances made by the companies to their employees, other than the Managing or Whole time Directors (which is governed by section 185) are not governed by the requirements of Section 186 of the Companies Act, 2013. This clarification will, however, be applicable if such loans/advances to employees are in accordance with the conditions of service applicable to employees and are also in accordance with the remuneration policy, in cases where such policy is required to be formulated.

Delhi Revenue Department:

The Delhi Government has authorised M/s Stock Holding Corporation of India Limited (SHCIL) to electronically generate the registration fees receipt on behalf of the Government of NCT of Delhi. All sub-registrar’s are directed to accept the e-registration fee receipt issued by SHCIL for the purpose of charging registration fees leviable on registration of instruments after ensuring genuineness of receipt. The present system of payment of fees through DD will continue only till 31-03-2015 and it will be mandatory required to pay through SHCIL w.e.f 01-04-2015.

CSBF CULTURAL EVENING

The Institute has set up the Company Secretaries Benevolent Fund (CSBF) with an objective of extending financial assistance to its members and their families and their families in times of distress. With a view to achieve the righteous objective, spread the awareness and to undertake Membership Campaign, the CSBF is organizing a Cultural Evening on Saturday, the 14th of March, 2015 from 6.00 P.M. onwards at Air Force Auditorium, Subroto Park, New Delhi. You & your family are cordially invited to join to watch, mesmerizing play. The participation is free for members of CSBF and those who intend to get themselves enrolled as members of the fund. Members are also requested to contribute to CSBF voluntarily for the benefit of the fraternity at large.