Recent Amendments by MCA & SEBI
In this edition we have tried to bring your notice the latest amendment that followed in the month of May, 2021 issued by MCA and SEBI.
Amendments issued by MCA
Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013
In exercise of the powers conferred under section 460 read with section 403 of the companies act, 2013 and the companies (Registration offices and fees) Rules, 2014, ministry has decided to allow relaxation of time and condone the delay in filing forms related to creation/ modification of charges. Read more: https://www.mca.gov.in/bin/dms/getdocument?mds=Jk5WdP58JBNwkqVJxXfhbQ%253D%253D&type=open
Gap between two board meetings under section 173 of the Companies Act, 2013
In view of the difficulties arising due to resurgence of Covid-19 , it has been decided by the ministry that the requirement of holding meetings of Board of the companies within the intervals provided under section173 of the companies act, 2013 (120 days) stands extended by a period of 60 days for first two quarters of Financial year 2021-22. Read more: https://www.mca.gov.in/bin/dms/getdocument?mds=dZUwhX9hMCv9X%252B5hgAoe5A%253D%253D&type=open
Relaxation of time for filing certain forms under the Companies Act, 2013
In view of the difficulties arising due to resurgence of Covid-19 , it has been decided by the ministry to grant relaxation on levy of additional fees for filing of various forms under companies act, 2013/ LLP Act ,2008/ Rules made thereunder due for filing during 1st April ,2021 to 31stMay, 2021 upto 31st July ,2021 to file such forms without any additional fees. Read more: https://www.mca.gov.in/bin/dms/getdocument?mds=HM1U%252FSJ5NDWKaT8%252B1e3qKg%253D%253D&type=open
Clarification on offsetting the excess CSR spent for FY 2019-20
It is clarified that where a company has contributed any amount to ‘PM CARES Fund’ on 31.03.2020, which is over and above the minimum amount as prescribed under section 135(5) of the Companies Act, 2013 (“Act”) for FY 2019-20, and such excess amount or part thereof is offset against the requirement to spend under section 135(5) for FY 2020-21 , then the same shall not be viewed as a violation subject to certain conditions. Read more: https://www.mca.gov.in/bin/dms/getdocument?mds=yh5ok6xXPSdmLMFFFZ9bdQ%253D%253D&type=open
Amendments issued by SEBI
Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers) (Amendment) Regulations, 2021
In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011& these regulations may be called the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2021& shall come into force on the date of their publication in the Official Gazette. Read more: https://www.sebi.gov.in/legal/regulations/may-2021/securities-and-exchange-board-of-india-substantial-acquisition-of-shares-and-takeovers-amendment-regulations-2021_50077.html