This relates to appointment of Company Secretaries in Private Companies and Applicability of Secretarial Audit.

Amendment: (To be effective from 1st April 2020)

(a) The requirement for appointment of Company Secretary for a private limited company: The threshold changes from Rs. 5 crores to Rs. 10 crores of paid up share capital .

(b) Secretarial Audit – The additional criteria of “Outstanding Loan or Borrowings from banks or Public Financial Institutions exceeds Rs 100 Cr.” has been inserted apart from existing Paid up share capital & Turnover criteria

[Official Notification:]

http://www.mca.gov.in/Ministry/pdf/AmdtRules_06012020.pdf

MCA.GOV.IN

www.mca.gov.in

CDSLINDIA.COM

Issuer-Admission-Procedure | CDSL

In order to admit its securities with CDSL, a company should first establish electronic connectivity with CDSL. The company can establish a direct in-house electronic connectivity with CDSL or can utilize the services of a Registrar and Transfer Agent (RTA) having electronic connectivity with CDSL.

PIB.GOV.IN

GSTR-9 & GSTR -9C more simplified & last dates of submission extended

The Government has decided today to extend the due dates of filing of Form GSTR-9 (Annual Return) an

PLACEMENT.ICSI.EDU

ICSI

Every Registered person shall display his Good and Service Tax Identification Number on the name of board exhibited at the entry of his principal place of business and every additional place or places of business.

http://www.cbic.gov.in/…/09.10.2019_CGST%20Rules…

Ministry of Corporate Affairs (MCA) has introduce Online Compliance Monitoring System (MCACMS) for issuing show cause notices and submitting replies from companies/directors for non-compliance under provision of Companies Act, 2013.

MCACMS Portal started sending show cause notices for certain violations by email to the Company /Director / Company Secretary. The Show cause notice will carry a CMS reference Number such as F. No. D/RCXXX/XXX/2019/XX/YY-YY.

The notice will carry details of non-compliances under which section the notice is issued for and the timelines for submitting the reply. The Company is required to serve a copy of the said notice to the directors/KMPs and the notice will be treated as deemed to have been served upon every officers in default of the company in terms of the Companies Act. 2013. The recipient of showcase notice has to submit reply at the portal.

One can opine that in case if there is any default in complying with the provision of applicable law, rules and regulations as defined thereunder will going to receive notices from regulators. Hence, it is hereby advised to comply with each and every provision of the Act in true letter and spirit so as to avoid any action from Registrar of Companies (ROC) and any other regulatory authority, if any.

MCACMS.GOV.IN

mcacms.gov.in

Section 164(2) provides that “No person who is or has been a director of a company which—

a) has not filed financial statements or annual returns for any continuous period of three financial years; or

b) has failed to repay the deposits accepted by it or pay interest thereon or to redeem any debentures on the due date or pay interest due thereon or pay any dividend declared and such failure to pay or redeem continues for one year or more, shall be eligible to be re-appointed as a director of that company or appointed in other company for a period of five years from the date on which the said company fails to do so.

Provided that where a person is appointed as a director of a company which is in default of clause (a) or clause (b), he shall not incur the disqualification for a period of six months from the date of his appointment”

(default of non-filing of financial statement or annual return for continuous period of three financial year i.e. 2015-16, 2016-17 and 2017-18).

In this regard all the defaulting directors are hereby cautioned to find the pending statutory returns and do necessary compliance as per provisions of law otherwise action will be initiated Under Section 164 of the Companies Act, 2013 and Rules made thereunder. The DINs of such directors are not allowed to be used for filing any e-forms on MCA21 portal.

Best Regards,

Team BKA (+91-11-43632828)

Source: http://mca.gov.in/Ministry/pdf/Upload_31102019.pdf

For Further information, please read below:

Last date for filling is 31st October 2019, for half year ending 30.09.2019.

e-form MGT-7 upto 31.12.2019,