MCA:
MCA has notified the rules to amend the Companies (Prospectus and Allotment of Securities) Rules, 2014, which shall come into force from the date of their publication in the Official Gazette. New proviso has been inserted in Rule 14(2)(a) stating that in case of an offer or invitation for non-convertible debentures referred to in the second proviso, made within a period of six months from the date of commencement of these rules, the special resolution referred to in the second proviso may be passed within the said period of six months from the date of commencement of these rules.” .
MCA:
MCA has notified the much awaited Cost Audit Rules under the provisions of the Section 148 of the Companies Act, 2013, as The Companies (Cost Records and Audit) Rules, 2014. For the applicability of these rules companies are broadly categorized into four classes namely A ,B, C and D. Each such category has specified the sub-categories or the specified activities. Major Highlights are : Limits based on paid-up capital and/or turnover and networth is defined for maintenance of cost records; Compliance Certificate removed for those companies which fall under the category for maintaining Cost Records; Maintenance Cost Records and Cost Audit also applicable to Foreign Companies; Cost Audit shall not be applicable to Companies operating in Special Economic Zone and for those companies whose revenue from exports in foreign exchange exceeds seventy five percent of its total revenue. The said rules has also specified the companies which need to get their cost records audited by the Cost Auditors.
Frequently Asked Questions on the Companies Act, 2013
ICSI with a view to share the knowledge & information on the Companies Act, 2013, with its Students & Members has come out with the 59 Frequently Asked Questions on the various provisions of the Companies Act, 2013 along with their answers.
Speak Your Mind