Corporate Updates – 13-10-2016


MCA has notified that e-Form INC-29 (Integrated Incorporation Form) will be withdrawn w.e.f. 1st November, 2016. Accordingly, e-Form INC-29 will no longer be available on the MCA21 portal and stakeholders will not be able to file any previously downloaded versions from this date. Stakeholders are requested to plan accordingly and use SPICe (Simplified Proforma for Incorporating Company electronically), INC-2 (One Person Company), or INC-7 (Incorporation of Company) e-Forms, as applicable for incorporation of Companies under the Companies Act, 2013. MCA had recently released SPICe forms where the entire process of incorporation was made electronic.


SEBI in it’s Circular stated that exclusively listed companies (ELCs) on the Dissemination Board will be required to exercise one of the two options — either raise capital for listing on nation-wide stock exchanges or exit from the dissemination board. The nation-wide stock exchanges hosting the ELCs on its dissemination board will be referred to as designated stock exchanges. To facilitate listing on nation-wide stock exchanges, the ELCs on the dissemination board will be allowed to raise capital for meeting the listing requirements through preferential allotment route. The ELCs which fail to list on the nation-wide stock exchanges under the mechanism would provide exit opportunity to its investors. The regulator will take action against companies that will continue to be on the dissemination board which includes freezing of shares of the promoters and directors and freeze bank accounts and other assets of promoters to compensate investors.

News from NIRC of ICSI

Registration open for NIRC’s Workshop on "Annual Filing- Concepts & Techniques" (XBRL, AOC – 4, MGT – 7 & MGT -8), on Saturday, the 15th October, 2016 (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/- upto 14-10-2016 for all participants including Corporate Members of NIRC; Online Payment / Registration Facility Available; Free For Members of Yuva Corporate Membership Scheme of NIRC; Program Credit Hours: 04.

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