Corporate Updates 19 May 2014


As the services for incorporation of companies were not available on the MCA21 portal to stakeholders from 1st April, 2014 to 28th April, 2014 because of the deployment requirements for new E-forms. With an intention to provide one time opportunity, the validity of reservation of all such names with due date of expiry between 1st April, 2014 to 28th April, 2014 is hereby extended upto 31st May, 2014. They could not avail of the 60 days prescribed period for using the name to complete the corresponding incorporation requirements due to the non-availability of services. All applicants whose cases fall in the above mentioned category may be advised to file relevant E-forms for incorporating companies under the Companies Act, 2013 well before the extended validity period.


RBI has simplified the procedure for External Commercial Borrowings (ECB) from Foreign Equity Holder and delegated the powers relating to Proposals for raising ECB by companies belonging to manufacturing, infrastructure, hotels, hospitals and software sectors from indirect equity holders and group companies, miscellaneous services from direct / indirect equity holders and group companies and Proposals involving change of lender when the ECB is from FEH – direct / indirect equity holders and group Company, to the concerned AD banks to approve the cases under the automatic route. All other terms and conditions stipulated in the relative circulars shall continue to be applicable and remain unchanged.

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