MCA
MCA has notified the Companies (Share Capital and Debentures) Third Amendment Rules, 2016. In the notification, the cap on issue of sweat equity shares for Start Up Companies has been raised two fold upto 50% of its paid-up capital upto 5 years from the date of its incorporation or registration. Further, MCA has notified in the case of issue of convertible securities offered on preferential basis, the manner of determination of the price of resultant shares. Amongst many other changes, the requirement to make the securities allotted by way of preferential offer fully paid up at the time of their allotment in Rule 13 has been omitted therefrom. The amended rules shall come into force on the date of their publication in the Official Gazette.
MCA
MCA has notified that new versions of eforms Form INC-23 (Application to Regional Director for approval to shift the Registered Office from one state to another state or from jurisdiction of one Registrar to another Registrar within the same State), Form MR-1(Return of appointment of MD/WTD/Manager) and Form MR-2 (Form of application to the Central Government for approval of appointment or reappointment and remuneration or increase in remuneration or waiver for excess or over payment to managing director or whole time director or manager and commission or remuneration to directors) are likely to be revised on MCA21 Company Forms Download page w.e.f 21st 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.
News from NIRC of ICSI
1. NIRC of ICSI is organising Rajasthan State Conference (Host Jaipur Chapter) on the theme "New Era of Opportunities for Company Secretaries" on Saturday, the 23rd July, 2016 from 10 AM onwards at Hotel Holiday Inn, Jaipur. Fees : Rs. 750/- per delegate; Free for Corporate Members of NIRC (Delhi & Chapters); Program Credit Hour: 6. Online Registration Facility available at www.icsi.edu/niro.
2. NIRC – ICSI announces niro and also through signed hard copy addressed to The Chairman, NIRC of ICSI, ICSI-NIRC Building, Plot No.4, Prasad Nagar Institutional Area, Near Rajendra Place, New Delhi – 110005). Three best entries shall be awarded with a Citation, Trophy, Cash Prize & Publications.
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