Payal Chheda & Co.

06/03/2020

LLP Settlement Scheme, 2020

LLP settlement Scheme, 2020 launched; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar

Start Date - 16th March, 2020

End Date - 13th June, 2020

Applicability - Any defaulting LLP can file documents which were due for filing till 31st October, 2019

Applicable Fees- additional fee Rs 10/- per day, shall not exceed Rs. 5,000/- per document

Immunity from prosecution if filled within 13th June, 2020

Applicable to Form – 3, Form – 4, Form – 8, Form – 11

Scheme not applicable to LLPs applied for striking off

Regards,

Payal Chheda & Co.

02/11/2019

MCA extends Due Dates of ROC Return Filing (FY 2018-19)

The due date for filing of financial statements in e-forms AOC-4, AOC (CFS) AOC-4 XBRL upto 30.11.2019

The due date for filing Annual return in e-form MGT-7 upto 31.12.2019.



Regards,

Payal Chheda & Co.

27/07/2019

DIR-3 KYC RETURN FOR FY 2018-19

Following are the key points of filing DIN- KYC for FY 2018-19

1. E-form DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in e-form DIR-3 KYC but wants to update his details.

2. The DIN holder who has submitted DIR-3 KYC e-form in the previous financial year and no update is required in his personal details have to file Web service DIR-3-KYC-WEB with MCA.

3. The directors who have acquired DIN in FY 2018-19 and for the Directors who have filed DIR-3 KYC once but wants to update his details with MCA are required to file form E-form DIR-3 KYC with MCA.

4. Last date of filing DIR-3 KYC is 30th September, 2019.

5. Late Fees for filing DIR-3 KYC after due date is Rs. 5000.

13/05/2019

General Circular on ADT-1 filed through GNL-2

For ADT-1 filed as attachment in GNL-2_ during 01/04/2014 to 20/10/2014, One time opportunity to file e-form ADT-1 for the said appointment without an fee till 15/06/2019. No relaxation for GNL-2 filed post 20/10/2014.

MCA Weblink :-

15/04/2019

MCA Clarification – Filing of e Form DIR – 3 KYC annually by all Directors holding DIN

The Ministry of Corporate Affairs (MCA) has on 13th April, 2019, given the clarification with regards to filling of e-Form DIR – 3 KYC by all Directors holding DIN clarifying that all DIN holders are required to file the DIR-3 KYC form every year, so that they are aware of and confirm the data & information as available in the MCA21 system.

Hence, it is now clarified that all DIN holders have to complete their KYC annually by filling e-form DIR 3 KYC every year before 30th April of immediate next financial year.

However, as the form is presently being modified to enable pre-filling of data & information, the time limit for filling e-form DIR 3 KYC for FY 2018-19 has been extended and it can be filed without any fee within a period of 30 days from the date of deployment of the Form on the MCA website.

08/03/2019

File E-form ACTIVE - Mandatory compliance for all companies:-

Active Company Tagging Identities and Verification is a new concept which is introduced by the Ministry of Corporate Affairs. It is an attempt of Ministry of Corporate Affairs in order to identify the Active Companies and to verify their Registered Office.

FOLLOWING ARE THE KEY POINT OF THE FILING:-

1. Which are Companies are required to file e-form Active (INC-22A)??

Ans.- Every Company* Incorporated on or before 31st December 2017 are required to file this e-form.

So, we can say that all this companies are required to file e-Form Active i.e. INC-22A

i. Public Company(whether listed or not)

ii. Private Company

iii. Government Company

iv. One Person Company

*Company has been defined under Section 2(20) of the Companies Act 2013 which specifically states that- Company means Company Incorporated under this Act or under any previous law.

So, Every Entity which is incorporated under previous applicable laws is also required to file this form.

2. Last Date of filing this form is 25-04-2019.

3. Documents required for filing

i. At least 2 Photographs

– One Photograph Showing External Building of the registered office of the Company.

– One Photograph of Inside office .i.e. Registered Office of the Company also showing therein at least one Director/KMP who has affixed his/her Digital Signature to this form.

– It is advisable to take the photograph taking the Board /Name Plate of the Company which is displayed outside the Registered Office of the Company.

ii. E-mail id of the Company and it will be verified by an OTP, so it is advisable not to use one single email id for more than one company.

iii. Address of the Registered Office of the Company.

-Along with Latitude & Longitude.

– It is advisable to extract the Latitude and Longitude of the Registered Office of the Company.

iv. Name of all the Directors of the Company, if it is more than 15 then Details of Special resolution passed for such appointment will be required. However, in case of Government Company details of such resolution will not be required as there is no limit of directors in Government Company. Kindly Check that all the Directors have filled the DIR-3 KYC Form or They are not disqualified under section 164 of the Companies Act, 2013.

v. Details of Company Secretary.

– Name of the Company Secretary of the Company.

– PAN No.

– Membership No.

vi. Details of Statutory Auditor.

– Name of the Auditor/Firm.

– PAN No. of the Auditor/ Firm.

– Membership No. or Firm’s Regn. No.

– Period for which the Auditor has been appointed.

vii. Details of Cost Auditor

– Name and No. of Cost Auditor Appointed

– Membership no.

– Period for which Appointed.

– Financial Year to be covered by the cost auditor.

viii. Details of Managing Director/Whole Time. Director/Chief Executive Officer/Manager.

ix. Details of Form AOC-4/AOC-4 XBRL & MGT-7 Filed for FY-2017-18 .i.e. SRN No. will be required.

x. Any two DSC of Director will be required for filing.

4. Following Companies will not be allowed by Ministry of Corporate Affairs to file this e-form Active are.:-

i. Company which has not filed its due financial statements and Annual returns with ROC

ii. A company who’s any of the director/s has not filled DIR 3 KYC form or is disqualified under section 164 of the Companies Act, 2013

5. If company is unable to file the e-form with MCA within due time, Company will be marked with “Active- Non compliant” at the portal of Ministry Of Corporate Affairs and due to this the company will not be allowed to carry on some transactions such as:-

i. Change in Authorised Capital

ii. Change in Paid up Capital

iii. Changes in Director Accept Cessation,

iv. Change in Registered Office.

v. Amalgamation, De-merger

6. Which companies are not required to file this form??

Ans. Following Companies are not required to file this form:-

i. Companies which have been struck off

ii. Companies which are under process of Striking off.

iii. Companies which are under Liquidation.

iv. Companies which has been dissolved or amalgamated.

As per the register maintained by Ministry of Corporate Affairs.

6. Consequences of Filing e-form Active after the due date .i.e. 25-04-2019

Penalty will be charged from those companies who will file this form after the due date and the amount of penalty is Rs. 10,000.

30/10/2018

*MCA Update*

*Extension of ROC Annual Filing Due Date* till *31/12/2018*.
MCA Circular Link-http://www.mca.gov.in/Ministry/pdf/NoticeAndCircularGC_30102018.pdf

KINDLY NOTE THAT *The additional fee waiver vide circular No.10 dated 29th October 2018 is likely to be implemented by 31st October Midnight. Stakeholders may please take note and plan accordingly.*

21/09/2018

DIR-3 KYC fee has been reduced to INR 500/- from INR 5,000/- for 15 days, amendment notification dated 20.09.2018 vide Companies (registration office and Fees) 5th Amendment Rules, 2018

20/09/2018

Now LLP incorporation process is also centralised via notification of ministry of Corporate affairs vide LLP (Second Amendment) Rules, 2018 dated 18.09.2018.

16/09/2018

updates #

As you are aware the last date for filing form DIR-3 KYC without fee has expired on 15th September 2018. The process of deactivating the non-compliant DINs is in progress and is likely to be completed by 17th September 2018. Please note that the form DIR-3 KYC will not be available for filing during the pendency of this activity (from 16th September 2018
to 17th September 2018).

Regards,

Payal Chheda & Co.

06/09/2018

1. As per the extant rules, in respect of an individual who is in possession of Duplicate/Multiple DINs, he can retain the Oldest DIN only. DINs obtained later have to be surrendered. Please note that on approval of form DIR-5, all existing/erstwhile associations of the surrendered DIN shall be automatically
mapped to the retained DIN.

2. In respect of an individual with a single DIN, if it is/was once associated with any LLP or Company, it is NOT eligible for surrender.

Regards,

Payal Chheda & Co.

30/08/2018

The ministry of corporate affairs had sent queries to the auditors under Section 143 (12) of the Companies Act, 2013, on these resignations

The Securities Exchange Board of India (Sebi) ban on Price Waterhouse entities, barring its network entities from issuing audit certificates to any listed company in India for two years, has already sent shudders through the bigger firms

________________________
https://www.financialexpress.com/industry/financial-fraud-ministry-of-corporate-affairs-to-crack-down-on-firms/1296961/
__________________________

Recently, the auditor of Manpasand Beverages, Deloitte Haskins and Sells, resigned saying that the company did not provide significant information sought by it.

In a bid to check companies from doing financial frauds, the ministry of corporate affairs will crack down on firms committing such wrongs

This could include
➡arrests of directors of the company,
➡approaching the National Company Law Tribunal to take over the company
or
➡even appointing government nominated directors in the company, a senior government official said.

In a bid to check companies from doing financial frauds, the ministry of corporate affairs will crack down on firms committing such wrongs.