Corporate Updates – 20-01-2017


MCA has notified that Form SPICe (INC-32) will be revised w.e.f 21st January 2017 so as to include the functionality of applying for Company PAN and first TAN (allotted by Income Tax Deptt) in the Incorporation form itself. Applying for PAN / TAN will be compulsory for all fresh incorporation applications filed in the new version of the SPICe form on or after 23 January 2017. For cases marked for resubmission prior to 23 January 2017, stakeholders are required to download older version of SPICe form for resubmission. Stakeholders may, therefore, kindly note that filing of SPICe forms (including resubmissions) will NOT be permitted temporarily w.e.f from 1 PM on 20th January until 8 AM on 23rd January, 2017. Thereafter, MCA21 system will accept new version of SPICe for fresh filings, as well as old version of SPICe for filing of previously marked resubmission cases. No PAN or TAN will be allotted for cases which were marked for resubmission prior to 23 January 2017. Stakeholders may also kindly note that the revised version of Form SPICe (INC-32) will mandatorily require application for both PAN and TAN also. MCA21 system will auto generate the pre-filled application forms 49A (PAN) and 49B (TAN) after submission of SPICe, which the stakeholders will be required to download, affix digital signature and then upload both signed forms on MCA21 system as linked forms. New version of SPICe incorporation applications will be processed only after Forms 49A & 49B are duly signed, uploaded and payment is confirmed by MCA. PAN (as allotted by Income Tax Deptt) will be printed in the Certification of Incorporation, and TAN will be separately communicated to the stakeholders by email. All the stakeholders are advised to download new version of SPICe form for all fresh applications from this date.


SEBI has notified the Securities And Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2017. In the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014, the word “Shares” shall be substituted for the words “Securities in the primary and secondary markets including shares”. Further, regulation 21 (4) in clause (e) after sub-clause (vii) the following sub-clauses shall be inserted “(viii) transactions by Category I and II foreign portfolio investors, in corporate bonds, as may be specified by the Board; (ix) transactions on the electronic book provider platform of recognized stock exchanges;” and existing sub-clause (viii) shall be re-numbered as sub-clause (x). The Amendments shall come into force on the date of their publication in the Official Gazette.

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