Corporate Updates 11 July 2014


1. MCA with an intention to simplify procedures and with a view to ensure timely disposal of E-Forms in the office of Registrars of Companies and keeping in view the penal provisions for false declaration as contained in section 448 read with section 447, has now instructed that with effect from21-07-2014 all E-Form MGT – 14 except for change of name, change of object, resolution for further issue of capital and conversion of companies will be processed and taken on record using the Straight Through Process (STP) mode. Now onus to comply with the provisions and to attach all mandatory documents will be on certifying professionals.

2.  MCA has issued the Companies (Removal of Difficulties) Fifth Order, 2014 which shall came into force on the date of its publication in the official Gazette. The order has been issued to remove the difficulties arisen regarding compliance with the provision of clause (76) of section 2 of the said Act define the term ‘related party’. In sub clause (v) of clause (76) of section 2, for the word “or”, the word “and” shall be substituted.

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