Corporate Updates – 13-07-2016


Ministry of Corporate Affairs (MCA) has recently notified that the new version of e-Form AOC -4 (Form for filing financial statement and other documents with the Registrar) is likely to be revised and shall be available by 3rd week of July, 2016. As per MCA, the changes will be made in respect of Corporate Social Responsibility (CSR) expenditure details. In the revised Form AOC-4, details of CSR expenditure are to be filled compulsorily by all the eligible companies. MCA has also requested the corporate(s) to plan their Annual filing as per revised AOC-04. Further eForm FC-2 (Return of alteration in the documents filed for registration by foreign Company), Form FC-4 (Annual Return of a Foreign Company), Form MGT-10 (Changes in shareholding position of promoters and top ten shareholders), Form SH-7 (Notice to Registrar of any alteration of share capital) and Refund Form are likely to be revised on MCA portal by 13th July 2016. Stakeholders are advised to download the latest version before filing. Form- wise date of last version change is available at on the website of MCA.


RBI on a review of the reporting requirements and to reduce the burden of compliance, AD Category I banks are advised to discontinue submission of report on details about invocation of bank guarantee for service imports with immediate effect. They may, however, maintain records of such invocations and furnish the required details to RBI whenever sought. As per the Master Direction No.8 dated January 01, 2016 on ‘Other Remittance Facilities’ in terms of which, AD Category-I banks were permitted to issue guarantees in favour of a non-resident service provider on behalf of their resident customers importing services, subject to the conditions laid therein and AD Category-I banks were required to report about invocation of bank guarantee for service imports.

News from NIRC of ICSI

1. NIRC of ICSI has decided to start fortnightly "PCS HELPLINE" to provide guidance / counseling in respect of problems and difficulties being faced by our members. In this series, NIRC of ICSI is organizing "PCS HELPLINE” programme on 13th July, 2016, to resolve the queries over telephone regarding Technical / Procedural / Interpretation issues relating to the topic Related Party Transaction. CS Ilam C Kamboj, PCS (Former Associate Vice President- Legal & Company Secretary Hero MotoCorp Ltd.,), will be available to answer the queries telephonically, on 13th July, 2016 from 2.00 PM to 3.30 PM at 011-4934 3001.

2. NIRC of ICSI is organising a Workshop on "INSOLVENCY AND BANKRUPTCY CODE, 2016" on Saturday, the 16th July, 2016 by CS Vinod Kothari, (Registration starts at 9.00 AM) from 10.00 am onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi Fee : Rs. 400/- per delegate (Inclusive of Service Tax) upto 13-07-2016 thereafter Rs. 500/- including Corporate Members of NIRC, Online Payment Facility Available; Free For Members of Yuva Corporate Membership Scheme of NIRC; Program Credit Hours: 04.

Hope the information will assist you in your Professional endeavours. In case of any query / information, please do not hesitate to write back to us.

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Thanks and Regards

Team Corporate Updates

011 – 4504 2509


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