Corporate Updates 11 June 2014


1. MCA has made Amendment in the rules relating to the Appointment of Company Secretary by notifying the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2014 which comes into force w.e.f 9th June, 2014. Now new Rule 8A has been inserted and require Appointment of whole time Company Secretary in all companies which has a paid up share capital of five crore rupees or more. The much awaited amendment for all company secretaries and now a whole time Company Secretary will be required in all companies including Private Limited Companies having paid up capital of Rs. 5 Crores or more.

2. MCA has issued the Companies (Removal of Difficulties) Fourth Order, 2014 (know more) on 06-06-2014 whereby it is provided that until a date is notified by the Central Government under Section 434(1) of the Companies Act, 2013 for constitution of Tribunal, the Company Law Board constituted in pursuance of Section 10E(1) of the Companies Act, 1956 shall exercise the jurisdiction, powers, authority and functions of the Tribunal under of Section 74(2) of the said Act. It has come into force from the date of notification in the Official Gazette.

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