Corporate Updates – 11-05-2016


Ministry of Corporate Affairs has notified The Companies (Registration Offices and Fees) Amendment Rules, 2016. The Ministry has amended Forms GNL-1 and GNL-4 which shall be compatible with the latest V2 platform designed by the MCA. Stakeholders are advised to check the latest version of the Forms before filing / uploading the same. The said amendment shall come into force from the date of their publication in the Official Gazette.


Department of Industrial Policy and Promotion (DIPP), has liberalized its FDI policy relating to Asset Reconstruction Companies (ARC). RBI has now permitted a person Resident Outside India to invest up to 100% in an ARC registered with Reserve Bank of India through Automatic Route. Investment limit of a sponsor will be governed by the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, (SARFAESI ACT), 2002. RBI has also allowed total shareholding of an individual FII/FPI to be below 10% of the paid-up capital. Further FIIs/FPIs are now allowed to invest in the Security receipts (SRs) issued by ARCs registered with Reserve Bank of India. The Press Note will come to effect from 12.05.2016.

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