Corporate Updates – 16-09-2015


MCA has provided much awaited relief to the private limited companies by allowing them to accept unsecured loan from directors and their relatives by making amendments to the Companies (Acceptance of Deposits) Rules, 2014, which will be called as the Companies (Acceptance of Deposits) Second Amendment Rules, 2015, and shall come into force on the date of their Publication in the Official Gazette. Accordingly Rule 2(1)(c)(viii) has been amended to read as any amount received from a Person who, at the time of the receipt of the amount, was a director of the company or a relative of the director of the Private company. A declaration to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others and the company shall also disclose the details of money so accepted in the Board’s report. Further, in Rule 3, "paid-up share capital and free reserves", wherever they occur, the words "Paid-up share capital, free reserves and securities premium account" shall be substituted.


DGFT has notified the date of operationalisation of modification in e-IEC’s as well as the IEC’s issued in physical format from 21st of September, 2015. Applicants seeking modification in their IEC’s may log on to and click on Importer Exporter Code (IEC) under Quick Links and select “Modify your IEC” to amend their e-IEC’s and IEC’s in physical format. Henceforth all modifications in e-IEC’s/ IEC’s would be done online only. Further, the fees for modifications in e-IEC’s/IECs will be Rs.200/- and fees can be paid online through net banking or through credit/debit cards.

News from NIRC of ICSI

NIRC is organising HP State Conference on the theme CS -Navigating the Future on Saturday, the 19th September, 2015 at Kasauli Resort, Kasauli, HP (Limited rooms available). Fee : Non-Residential – Rs. 750/; Residential : Rs. 2,500/-for Corporate Members & Non-Residential – Rs. 1,250/; Residential : Rs. 4,000/- for other members; PCH –8.

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