Corporate Updates 25 March 2014

MCA: 

MCA gives discretionary powers to Central Government to extend service terms of CLB Bench. If it considers it necessary in public interest so to do, Central Government may give extension in service to the Chairman, Vice Chairman and Members upto a maximum period of one year or till constitution of the National Company Law Tribunal, whichever is earlier”

Important MCA Update: 

MCA has issued a Important Notice on the website of the Ministry of Corporate Affairs, advising and informing all the stakeholders that all forms under RSUB/PUCL would be marked back to respective officials of the ROC/RD/Central Government as the case may be starting today’s midnight i.e 25th Mar 14. The forms would be processed by the respective officials at the back office. However, “Form FTE”, “Form EES2010”, “Form EES2011”, “Refund Form”, Investor Complaint Form” and all LLP forms” would continue to be allowed for filing under RSUB/PUCL.

Further, all offline payment facility (Challan, NEFT and Pay Later) would be stopped from 26th March, 2014 till 31st March, 2014 (both days inclusive). You are requested to make payment only through online mode (Credit/Debit Card and Net Banking). All stakeholders are requested to plan their activity accordingly.

The notice can be viewed at the home page of MCA21 or you can Click Here to view the same.

Hope the information will assist you in your Professional endeavors. In case of any query / information, please do not hesitate to write back to us.

RBI:

The Reserve Bank of India in the wake of promoting and protecting the interest of Depositors has constituted “The Depositor Education and Awareness Fund (the Fund)” wherein the amount to the credit of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be credited to the Fund, within a period of three months from the expiry of the said period of ten years. The depositor would, however, be entitled to claim from the bank his/her deposit or any other unclaimed amount or operate her account after the expiry of ten years, even after such amount has been transferred to the Fund. The bank would be liable to pay the amount to the depositor/claimant and claim refund of such amount from the Fund. For detailed notification, please Click Here.