Corporate Updates 27 March 2014


The Ministry of Corporate Affairs has notified 183 new sections of the Companies Act 2013 and some sub-sections of 13 sections which were already notified by notification dated 12th September 2013 and remaining schedule, by way of Notification dated 26th March, 2014. These sections have been notified to come into effect from 1st April 2014. With the notification of these sections, now a total of 283 sections of the new Act stand notified. As the Sections have been notified, it is expected that all relevant rules with forms will also be notified shortly.

Further, the Sections remaining to be notified are related to NFRA, IEPF, Compromise and arrangement, oppression and mismanagement, winding up, sick companies, special courts, NCLT etc.


SEBI vide its Circular number CIR/CFD/DIL/1/2014 dated March 25, 2014 has prescribed a standard format for Auditors’ Certificate, under Clause 24 of the Listing Agreement which shall be followed by all the companies filing draft/ final scheme/ petition with the Stock Exchange(s) on or after March 25, 2014 for approval of any draft Scheme of amalgamation / merger / reconstruction, etc., as it was observed by SEBI that the Auditors’ Certificate filed by the companies are in different format and there was no standardization.

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