MCA 21 A National e Governance Mission<\/p>\n
\u00a0Company Secretary Notification<\/p>\n
MCA 21 \u2013 A National e-governance mission *
\nAs you are aware that the Ministry of Company Affairs,\u00a0Government of India has initiated MCA 21 Project as a National egovernance mission. MCA 21 is envisioned to introduce a service\u00a0oriented approach in the design and to make the Corporate World\u00a0globally competitive. The objectives of this project are as follows:
\n\uf0b7 Business enabled to register a company and file statutory documents\u00a0quickly and easily
\n\uf0b7 Public to get access to relevant records and effective grievances\u00a0redressal
\n\uf0b7 Professionals to be able to offer efficient services to their client\u00a0companies
\n\uf0b7 Financial Institutions to easily find charges registration and\u00a0verification
\n\uf0b7 Employees to ensure proactive and effective compliance of\u00a0relevant laws and corporate governance<\/p>\n
The MCA 21 is designed to automate processes related to the\u00a0pro-active enforcement and compliance requirements under the\u00a0Companies Act, 1956.
\nTo implement the project, the Companies (Amendment) Act 2006\u00a0has been enacted to insert new sections 610B, 610C, 610D and 610E in\u00a0the Companies Act, 1956 so as to make provision for electronic filing\u00a0system and for payment of fees through electronic form under the said\u00a0Act which are essential for the successful implementation of the MCA-\u00a021 Project. After the proposed amendments to the Companies Act,\u00a01956 have been enacted, the documents in electronic form duly
\nauthenticated with digital signatures shall be accepted under the\u00a0provisions of that Act. The proposed electronic system also provides\u00a0for multiple modes of payment of statutory fees.
\nThe Act also provides for new sections 266A, 266B, 266C, 266D,\u00a0266E, 266F and 266G in the Companies Act, 1956 so as to, inter alia,\u00a0provide for allotment of a unique Director Identification Number to any\u00a0individual, intending to be appointed as a director in a company or to\u00a0any existing director of a company, for the purpose of hisidentification as such, through electronic or other form and to provide\u00a0for penalty for any violation in this regard.
\nTo make the e-governance a reality and to prescribe a legal\u00a0framework for this flagship programme, this Act provides for, inter-alia;
\n1. Application for allotment of Director Identification Number
\n2. Allotment of Director Identification Number
\n3. Provisions relating to filing of application, documents inspection\u00a0etc. through electronic form.
\n4. Power to Modify Act in relation to electronic records (including the\u00a0manner and form in which electronic records shall be filed)Recent Notifications under Companies Act, 1956<\/p>\n
1)
\nMINISTRY OF COMPANY AFFAIRS\u00a0NOTIFICATION
\nEXTRA ORDINARY, PART II, SECTION 3, SUB-SECTION (i)}
\nNew Delhi, the 10th
\nFebruary, 2006<\/p>\n
\n
G.S.R. 56 (E) In exercise of the powers conferred by clauses (a) and (b) of\u00a0<\/span>sub-section (1) of section 642 read with section 610A of the Companies Act, 1956\u00a0(1 of 1956), the Central Government hereby makes the following rules further to\u00a0amend the Companies (Central Government\u2019s) General Rules and Forms, 1956,<\/em><\/em><\/em><\/p>\n namely:- \u201c6A. Section 159. \u2013 Every company having a share capital shall file the\u00a0annual return with the Registrar together with the Form 20B. MCA 21 A National e Governance Mission \u00a0Company Secretary Notification MCA 21 \u2013 A National e-governance mission * As you are aware that the Ministry of Company Affairs,\u00a0Government of India has initiated MCA 21 Project as a National egovernance mission. MCA 21 is envisioned to introduce a service\u00a0oriented approach in the design and to make … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[2873],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/29676"}],"collection":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/comments?post=29676"}],"version-history":[{"count":1,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/29676\/revisions"}],"predecessor-version":[{"id":116258,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/29676\/revisions\/116258"}],"wp:attachment":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media?parent=29676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/categories?post=29676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/tags?post=29676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n1. (1) These rules may be called the Companies (Central Government\u2019s)\u00a0General Rules and Forms (Amendment) Rules, 2006.
\n(2) They shall come into force on the date of their publication, in the\u00a0Official Gazette.
\n2. In the Companies (Central Government’s) General Rules and Forms, 1956,-\u00a0(i) after sub-rule (2) of rule 3, the following sub-rules shall be inserted,\u00a0namely: –
\n\u201c(3) The Forms prescribed in Annexure \u2018A\u2019 to these rules may be filed\u00a0through electronic media or through any other computer readable media as\u00a0referred under section 610A of the Companies Act, 1956 (1 of 1956).
\n(4) The electronic-form shall be authenticated by the authorized\u00a0signatories using digital signatures, as defined under the Information\u00a0Technology Act, 2000 (21 of 2000).
\n(5) The Forms prescribed in Annexure \u2018A\u2019, when filed in physical form,\u00a0may be authenticated by authorized signatory by affixing his signature\u00a0manually.\u201d(ii) after rule 6, the following rules shall be inserted, namely: –\u00a0<\/em><\/em><\/em><\/p>\n
\n6B. Section187C. \u2013 Every company shall file a return in the form 22B\u00a0with the Registrar of the declaration made to it in compliance of section\u00a0153.\u201d
\n(iii) after rule 7A, the following rules shall be inserted, namely: –
\n\u201c7B. Section 220. – Every company shall file a balance sheet, profit and\u00a0loss account and other documents with the Registrar together with the Form\u00a023AC.
\n7C. Section 211. \u2013 Application to the Central Government for modification\u00a0in the matters to be stated in the company\u2019s balance sheet or profit and loss
\naccount shall be made in Form 23AAA.
\n7D. Sub-Section (8) of section 212. \u2013 Application for exemption from\u00a0attaching the annual accounts of the subsidiary companies shall be made to\u00a0the Central Government in Form 23AAB.
\n7E. clause (c) of sub-section (2) of section 205. \u2013 Application for not\u00a0providing depreciation shall be made to the Central Government in Form\u00a023AAC.\u201d
\n(iv) after rule 10A, the following rule shall be inserted, namely:-\u00a0\u201c10AB. Section 295. \u2013 Application for giving loan, providing security or\u00a0guarantee in connection with a loan shall be made to the Central\u00a0Government in Form 24AB.\u201d
\n(v) after rule 20A, the following rules shall be inserted, namely:-\u00a0\u201c20B. Section 621A. Application under section 166, 210, 394, 560 and\u00a0621A of the Act shall be made to the Registrar of Companies in Form 61.
\n20C. Every company shall file documents with the Registrar of\u00a0Companies under sections 18, 31, 44, 60, 77A, 488, 497, 509, 516, 551 and\u00a0555 of the Act and rule 313, 315, 327, 331, 335 of the Companies (Court)Rules 1959 and rule 10 of the Companies (Acceptance of Deposits) Rules,\u00a01979 together Form 62.
\n20D. section 620A; \u2013 Application for declaration as nidhi company shall\u00a0be made to the Central Government in Form 63.
\n20E. section 620A; \u2013 Application for opening branch or branches by a Nidhi company, pursuant to notification number GSR 555(E) dated 26th\u00a0July
\n2001, shall be made to the Central Government in Form 64.
\n20F; – Applications for extension of time or exemption under section\u00a058A(8) and information and explanation on reservations and qualification\u00a0contained in the cost audit report by a company under section 233B(7) of\u00a0the Companies Act, 1956 shall be made to the Central Government in Form\u00a065.\u201d
\n(vi) in rule 22, after the second proviso, the following proviso shall be\u00a0inserted, namely:-\u00a0\u201cProvided also that, where application is filed through electronic media or\u00a0through any other computer readable media, the user may choose any one\u00a0of the following payment options namely, (i) Credit Card; or (ii) Internet
\nBanking; or (iii) Remittance at the Bank Counter or (iv) any other mode as\u00a0approved by the Central Government. The requisite fee as specified in the
\nCompanies (Fees on Applications) Rules, 1968 shall be payable through\u00a0any of the accredited branches of the following Banks.
\n(a) Punjab National Bank
\n(b) State Bank of India
\n(c) Indian Bank
\n(d) ICICI Bank
\n(e) HDFC Bank\u201d
\n(vii) in Annexure A; –
\n[F No 1\/6\/2005\/CL.V]
\n(Jitesh Khosla)
\nJoint Secretary
\nNote: The Principal rules were published in the Gazette of India vide G.S.R. 432 dated
\nthe 18th January, 1956 and subsequently amended vide following notification in the
\nGazette of India.Serial
\nNumber
\nNotification
\nNumber
\nNotification
\nDate
\n1. SRO 2535 1.11.1956
\n2. SRO 3135 21.12.1956
\n3. SRO 237 19.1.1957
\n4. SRO 2105 29.1.1957
\n5. SRO 3038 28.9.1957
\n6. SRO 3867 7.12.1957
\n7. GSR 48 22.2.1958
\n8. GSR 723 23.8.1958
\n9. GSR 750 30.8.1958
\n10. GSR 1026 1.11.1958
\n11. GSR 14 3.1.1959
\n12. GSR 548 9.5.1959
\n13. GSR 1140 17.10.1959
\n14. GSR 1224 7.11.1959
\n15. GSR 1364 12.12.1959
\n16. GSR 220 27.2.1960
\n17. GSR 595 28.5.1960
\n18. GSR 195 18.2.1961
\n19. GSR 814 24.6.1961
\n20. GSR 1105 9.9.1961
\n21. GSR 1408 25.11.1961
\n22. GSR 653 12.5.1962
\n23. GSR 344 2.3.1963
\n24. GSR 628 13.4.1963
\n25. GSR 97 16.1.196526. GSR 822 12.6.1965
\n27. GSR 1570 30.10.1965
\n28. GSR 368 19.3.1966
\n29. GSR 421 18.3.1966
\n30. GSR 499 9.4.1966
\n31. GSR 743 21.5.1966
\n32. GSR 847 4.6.1966
\n33. GSR 1266 13.8.1966
\n34. GSR 130 20.1.1968
\n35. GSR 667 30.6.1973
\n36. GSR 327(E) 10.6.1975
\n37. GSR 414(E) 16.7.1975
\n38. GSR 2596 1.11.1975
\n39. GSR 2828 13.12.1975
\n40. GSR 154 31.1.1976
\n41. GSR 248(E) 24.3.1976
\n42. GSR 627 14.5.1977
\n43. GSR 24(E) 9.1.1979
\n44. GSR 1256 6.10.1979
\n45. GSR 555(E) 4.9.1982
\n46. GSR 479(E) 22.4.1988
\n47. GSR 694(E) 10.6.1988
\n48. GSR 782(E) 13.7.1988
\n49. GSR 908(E) 7.9.1988
\n50. GSR 1032(E) 26.10.1988
\n51. GSR 449 (E) 17.4.1989
\n52. GSR 510(E) 24.5.1990
\n53. GSR 795(E) 18.9.1990
\n54. GSR 289(E) 31.5.1991
\n55. GSR 614(E) 3.10.1991
\n56. GSR 754(E) 26.12.1991
\n57. GSR 312(E) 6.3.1992
\n58. GSR 353(E) 26.3.1992
\n59. GSR 484(E) 11.5.1992
\n60. GSR 581 (E) 27.8.199361. GSR 621 (E) 24.9.1993
\n62. GSR 286(E) 1.3.1994
\n63. GSR 598(E) 28.7.1994
\n64. GSR 697(E) 20.9.1994
\n65. GSR 283(E) 21.3.1995
\n66. GSR 424(E) 26.5.1995
\n67. GSR 251(E) 21.6.1996
\n68. GSR 97(E) 28.2.1997
\n69. GSR 126(E) 1.3.1997
\n70. GSR 16(E) 6.1.1999
\n71. GSR 23(E) 12.1.1999
\n72. GSR 130(E) 23.2.1999
\n73. GSR 788(E) 29.11.1999
\n74. GSR 58(E) 17.1.2000
\n75. GSR 363 (E) 27.4.2000
\n76. GSR 638(E) 26.7.2000
\n77. GSR 836(E) 24.10.2000
\n78. GSR 24(E) 15.01.2001
\n79. GSR 35(E) 24.01.2001
\n80. GSR 51(E) 31.01.2001
\n81. GSR 96(E) 14.02.2001
\n82. GSR 330(E) 07.05.2002
\n83. GSR 5(E) 03.01.2003
\n84. GSR 479(E) 12.06.2003
\n85. GSR 580(E) 24.07.20032)
\nCompanies (Amendment) Regulations, 2006 \u2013 Insertion of Part F
\nNOTIFICATION NO. GSR 157(E), DATED 16-3-2006
\nIn exercise of the powers conferred by sub-sections (5) and (8) of section 25 and subsection (2) of section 609, read with sub-section (2) of section 610A of the Companies Act,
\n1956 (1 of 1956), the Central Government hereby makes the following regulations further
\nto amend the Companies Regulations, 1956, namely:
\n(31) (1) These regulations may be called the Companies (Amendment)
\nRegulations, 2006.
\n(2) They shall come into force on the date of their publication in the Official Gazette.
\n2. In the Companies Regulations, 1956, after Part E, the following shall be added, namely:
\nPART F
\nApplication, documents, licence, etc., in the electronic manner.
\n27. Any application or document or notice or declaration or statement required to be
\nmade or filed or furnished or sent or given, as the case may be, by any person under
\nthese regulations may also be made or filed or furnished or sent or given, as the case
\nmay be, in the electronic manner :
\nProvided that the provisions of this regulation shall not be applicable to the provisions
\nof regulations 10 and 11 of Part C of these regulations.
\n28. Any certificate, licence, receipt or endorsement required to be given or granted or
\nmade or signed or acknowledged, as the case may be, by Regional Director or Registrar
\nof Companies, may also be given or granted or made or signed or acknowledged, as the
\ncase may be, in the electronic manner.
\n29. Any document required or uthorized to be registered, recorded or filed by or with
\nthe Registrar of Companies under these regulations may be registered, recorded or filed
\nby him in the electronic manner, subject to the compliance of the requirement of
\nregulation 18 of Part E of these regulations.
\n30. The register or index required to be maintained by the Registrar of Companies
\npursuant to these regulations may also be maintained in electronic manner.
\n31. The inspection of documents registered, recorded or filed with Registrar of
\nCompanies may also be made in electronic manner through payment of fee in a manner
\nas may be prescribed.
\n\uf06e\uf06e3)
\nCompanies Act, 1956: Notification under section 637A(1)
\nI
\nNotification No. G.S.R 202(E), dated 31st March, 2006.
\nIn exercise of the powers by sub-section (1) of section 637A of the Companies Act, 1956
\n(1 of 1956), the Central Government hereby makes the following further amendments in
\nthe notifications of the Government of India , the erstwhile Ministry of Law, Justice and
\nCompany Affairs(Department of Company Affairs) No. G.S.R. 555(E), dated the 26th July,
\n2001,published in the Gazette of India, Part II, section 3, sub-section (i), dated the 26th
\nJuly, 2001, namely :-
\nIn the said notification , in clause (1),-
\n(i) in sub-clause (a), in item (vii), the following provisos shall be inserted,
\nnamely :-
\n\u201cProvided that those Nidhi companies which have adhered to all the provisions of the
\nnotifications may undertake the business as insurance brokers, locker providers and to
\nprovide advisory services to members with the prior approval of the regulatory Authority
\nsubject to any other law in force in this regard :
\n\u201c Provided further that their gross income from mortgage and jewel loan shall not fall
\nbelow 80 per cent. Of gross income at any point of time during a financial year ;\u201c
\n(31) in sub-clause (d), in item (i), in the first proviso, for the table, the following
\nshall be substituted, namely :-
\nTABLE
\nRatio of net owned fund Date by which Extended date by
\nto deposits (as on 31-3-2001) the company was which the company
\nrequired to achieve has to achieve the
\nthe prescribed prescribed ceiling
\nceiling of 1 :20 of 1 :20
\n(a) More than 1:20 but up to 1:25 By 31-03-2004 By 31-03-2007
\n(b) More than 1:25 but up to 1:40 By 31-3-2005 By 31-03-2007
\nI More than 1:40 but up to 1:80 By 31-3-2006 By 31-03-2007
\n(d) More than 1:80 and above By 31-3-2007 By 31-03-2007
\n(iii)in sub-clause (e), in item I, the following Explanation shall be inserted, namely :- \u201cExplanation.- Introduction and documentary evidence of new depositors shall include all
\ncriteria applicable to \u2018know your customer norms\u2019 prescribed by Reserve Bank of India
\nbefore accepting deposits by non-banking finance bank companies\u201d,
\n{iv) in sub-clause (g) after the words \u201ca regional rural bank\u201d, the following words shall
\nbe inserted ; namely :-
\n\u201cor post office deposits in the name of the Nidhi company and not in the name of
\nindividuals\u201d,
\n(v) in sub-clause (h), in item (ii), for the words \u201cseven and half per cent.\u201d The words \u201cfive
\nper cent\u201d. Shall be substituted;
\n(vi)in sub-clause (i),
\n(a) in item (i), for sub-item (A), the following shall be substituted, namely :-
\n\u201c(A) have any person as director for a continuous period of more than ten years ;
\nExplanation.- Any break in continuous service a director of less than two years would
\nbe construed as holding office continuously :
\nProvided that where the tenure of any director already extended by Regulatory
\nAuthority, it shall terminate on expiry of such extended tenure.\u201d
\n(b) in para. (iii), in the proviso, after the words \u201cinterest thereon\u201d
\n(c) the following shall be inserted :-
\n\u201cif the company has not made provision in accordance with the regulations including
\nthe time schedule and \/or the company has not achieved the prescribed ratio of net fund to
\ndeposits.\u201d
\nIafter item (vi), the following item shall be inserted, namely :-
\n\u201c(vii) no person or firm appointed as statutory auditors of the company for a continuous
\nperiod of five years, shall be reappointed as statutory auditor.
\nExplanation.-Firm includes any partner of the same firm or any associate of the same
\nfirm either in that capacity or in any other individual capacity. \u201c;4)
\nNotification No. G.S.R 203(E), dated 31st March,2006.
\nIn exercise of the powers conferred by sub-section (I) of section 637A of the Companies
\nAct, 1956 (1 of 1956), the Central Government herby makes the following amendments in
\nthe notification of the Government of India, the erstwhile Ministry of Law, Justice and
\nCompany Affairs (Department of Company Affairs) No. GSR309 (E), dated 30th
\nApril,2002, published in the Gazette of India, Extraordinary, Part II, section 3, subsection(i), dated the 30th April, 2002, namely :-
\nIn the said notification, in clause (1), in sub-clause (ii)-
\n(i)for the proviso to Explanation (5), the following shall be substituted, namely :-
\n\u201cProvide that the Nidhi Companies or Mutual Benefit Societies incorporated on or before
\n26th July, 2001 shall make provisions in respect of loans disbursed end outstanding as on
\n31st March, 2002 for income reversal and non performing assets as per table given below :
\nTABLE
\nFor the year ended Extent of provision
\n31-03-2006
\n31-03-2007
\n31-03-2008
\n31-03-2009
\n31-03-2010
\n31-03-2011
\n50% of pretax profit as per published accounts
\n50% of pretax profit as per published accounts
\nUnprovided balance on an equal basis over the balance 4
\nyears
\nProvided further that a Nidhi company or a Mutual Benefit Society may make the
\nprovisions exceeding the above limits :
\nProvided also that the accounts for the year ending on 31st March, 2006 and the
\naccounts for succeeding years should clearly indicate the total amount of provision to be
\nmade on account of income reversal and non performing assets remaining unrealized by
\nnotes on accounts and the amount provided in that year and the balance amount to be
\nprovided, till the entire amount of income recognized without providing for nonperforming assets and the amount remain unprovided for non-performing assets as on 31st
\nMarch, 2002
\nProvided also that it shall be the duty of the statutory auditor to certify that the note
\nexhibit true and fair view of the same\u201d;
\n{F. No. 4\/6\/2004-CL-VI}
\n*Compiled by Secretariat, Corporate and Allied Laws Committee<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"