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Ministry of Corporate Affairs (MCA) has been very
active in the last few days despite Diwali holidays. Here are some of the updates from the MCA
site:
1. http://www.mca.gov.in/Ministry/pdf/General_Circular_37-2014.pdf -
Clarification with regard to trust/trustee as a partner in the Limited
Liability Partnerships (LLPS) dated 14/10/2014 – clarified that for the
purposes of these trusts it is not barred for a trustee, being a body
corporate, to hold partnership in an LLP in its name without the addition of
the statement that it is a trustee.
2. http://www.mca.gov.in/Ministry/pdf/General_Circular_38-2014.pdf - Right of
persons other than retiring directors to stand for directorship - Refund of
deposit under section 160 of the Companies Act, 2013 ln certain cases – Board
of Directors of a Section 8 company may decide as to whether the deposit made
by or on behalf of the person failing to secure than 25% of the valid votes is to be forfeited or
refunded
3. http://www.mca.gov.in/Ministry/pdf/Amendment_Rules_14102014.pdf - Companies (Audit and Auditors) Amendment
Rules, 2014 – Rule 10A inserted
4. http://www.mca.gov.in/Ministry/pdf/Amendment_Rules_14102014_I.pdf - Companies
(Accounts) Amendment Rules, 2014 – after Rule 6 proviso inserted
5. General
circular 39 - http://www.mca.gov.in/Ministry/pdf/General_Circular_39-2014.pdf
- 14/10/14 - Clarification on matters relating to Consolidated
Financial Statements
6. http://www.mca.gov.in/Ministry/pdf/General_Circular_41-2014.pdf - CLSS 2014
- Clarification re: disqualification of directors u/s 164(2)
7. Draft order
of Amalgamation proposed to be issued by Central Government causing
amalgamation of National Spot Exchange Limited with its Holding Company Financial
Technologies (India) Limited u/s 396 of the Companies Act, 1956 - http://www.mca.gov.in/Ministry/pdf/Draft_Order_of_Merger.pdf
8. Further
amendments to Schedule VII of the Companies Act, 2013 – CSR - http://www.mca.gov.in/Ministry/pdf/Amendment_Notification_24102014.pdf
