Corporate Updates – 22-05-2017

MCA – LLP

MCA has notified the much awaited East Exit Scheme for LLP. The Central Government has amended the Rules by notified the Limited Liability Partnership (Amendment) Rules, 2017, which shall come into force with effect from 20th May, 2017. According to the amendment, LLP has to file all overdue returns before filing an application to registrar for striking off its name. LLP has to file overdue returns in Form 8 and Form 11 up to the end of the financial year in which the limited liability partnership ceased to carry on its business or commercial operations before filing Form 24 along with certain documents. Further a a copy of the acknowledgement of the latest Income-tax return filed along with the copy of the initial limited liability partnership agreement, if entered into and not filed, along with changes thereof in cases where the Limited Liability Partnership has not commenced business or commercial operations since its incorporation is also required to be filed.

MCA – NCLT

The Government of India has notified the Companies (Transfer of Proceedings) Rules, 2016. Through these rules all matters relating to winding up and amalgamation has been transferred from High Courts to NCLT. All petitioners were required to submit all information forming part of the records relating to matter filed under Section 433(e) and such documents including details of the proposed Insolvency Professional to the National Company Law Tribunal having jurisdiction over the Company with in 60 days. The time was further extended upto 6 months i.e 14-06-2017 vide notification dated 28-02-2017. All stakeholders are requested to comply with the said notification. Further, the office of NCLT & Registry shall remain open to accept the filing during the vacations i.e month of June, 2017.

News from NIRC of ICSI

Today, the 22nd May, 2017, NIRC is organising a Meeting of Practising Company Secretaries on the topic “Opportunities For Company Secretaries under Labour Laws” at 5:30 PM at NIRC Auditorium, Parsad Nagar, New Delhi – 110005. Fees – NIL; PCH – 2.