Corporate Updates 23 July 2014


MCA has amended the Companies(Miscellaneous) Rules, 2014, which shall come into force from the date of their publication in the Official Gazette. Through this amendment much need relief is granted to the various stakeholders whose applications are pending at various levels for the want of clarity. According to the amended Rules, any application or form filed with the Central Government or Regional Director or Registrar prior to the commencement of these rules but not disposed of by such authority for want of any information or document shall, on its submission, to the satisfaction of the authority, be disposed of in accordance with the rules made under the Companies Act, 1956.


RBI has delegated the work related to Money Transfer Service Scheme (MTSS) to the Regional Offices. The application for necessary permission to act as an Indian Agent under MTSS is now be made to the respective Regional Office of the Foreign Exchange Department of the Reserve Bank under whose jurisdiction the registered office of the applicant falls. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

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