Corporate Updates – 23-12-2016

PCS INDUCTION PROGRAM

Registration open for Practicing Company Secretaries who have obtained Certificate of Practice in last 2 years and Company Secretaries who intend to obtain the Certificate of Practice for TWO DAYS PCS INDUCTION PROGRAM (PIP) being organised by NIRC of ICSI on 3rd & 4th January, 2017 (Tuesday & Wednesday) at 9.30 AM onwards at ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi to support & build the capacities of young entrants into practice. Certification of Participation will be awarded to all participants. Fee: Rs. 500/- per delegate inclusive of Service Tax: PCH : 08. Online Registration facility available.

MCA

MCA has revised the version of e-forms : FormIEPF-5 (Application to the Authority for claiming unpaid amounts and shares out of Investor Education and Protection Fund (IEPF)), Form CG-1 (Form for filing application or documents with Central Government), Form PAS-3 (Return of allotment), Form MSC-1 (Application to Registrar for obtaining the status of dormant company), Form MGT-14 (Filing of Resolutions and agreements to the Registrar), Form AOC-4 (Form for filing financial statement and other documents with the Registrar) are likely to be revised on MCA portal with effect from 24th December, 2016. All the stake holders are advised to check the latest version of the form before filing.

MCA

MCA has issued National Company Law Tribunal (Amendment) Rules, 2016. Through this amendment, provision for Presentation of joint petition has been inserted which provide that the Bench may permit more than one person to join together and present a single petition if it is satisfied, having regard to the cause of action and the nature or relief prayed for, that they have a common interest in the matter. Such permission shall be granted where the joining of the petitioners by a single petition is specifically permitted by the Act. Further, Rule 38A has been inserted to provide Multiple remedies, which states that a petition shall be based upon a single cause of action and may seek one or more reliefs provided that the reliefs are consequential to one another. After Rule 68, the Rule 68A Application to cancel variation of rights under sub┬Ěsection (2) of section 48 shall be inserted. This rule also covers the set of documents to be accompanied with the application form in Form No NCLT-1. Further, Form No. NCLT-3C is newly inserted. The Amendment Rules shall come into force on the date of their publication in the Official Gazette.

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