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Showing posts from July, 2016

Company (Account) Amendment Rules

The MCA amend the Companies Account Rules by Notification dated : 27.07.2016. This rules may be called Company (Account) Amendment Rules Earlier Provision: Earlier Provision: Provided further that nothing in this rule shall apply in respect of preparation of consolidated financial statement by an intermediate  wholly-owned subsidiary, other than a wholly-owned subsidiary whose immediate parent is a company incorporated outside India: Amended Provision: "Provided further that nothing in this rule shall apply in respect of preparation of consolidated financial statements by a company if it meets the following conditions:- (1) it is a wholly-owned subsidiary, or is a partially-owned subsidiary of another company and all its other members, including those not otherwise entitled to vote, having been intimated in writing and for which the proof of delivery of such intimation is available with the company, do not object to the company not presenting consolidated fin

The Companies (Incorporation) Third Amendment Rules

The Companies (Incorporation) Third Amendment Rules The MCA amend the Companies Incorporation Rules by Notification dated : 27.07.2016. This rules may be called Company (Incorporation) Third Amendment Rules Rule No. Earlier Provisions Amended Rules Effects of Amendment Rule 3(2) Substituted No person shall be eligible to incorporate more than a One Person Company or become nominee in more than one such company. A Natural person shall not be member of more than a One person Company at any point of time and the said person shall not be nominee of more than a One Person company” Earlier a person can only be member of OPC or nominee of OPC. Earlier a person can’t be Nominee of a OPC and Member of a OPC. But after amendment rules a person can be Nominee in one OPC and member in one OPC simultaneously. Rule 8(2)(ii) Substituted it includes the name of a registered trade

NCLT FORM

PURPOSE OF FORMS S.No. Form No. Purpose of form Relevant Rules 1 NCLT-1 General Heading for proceedings 34,64, 66, 67, 68, 69, 70, 71, 73, 74, 75, 77, 78, 79, 80, 81, 83, 86 and 87  2 NCLT-2 Notice of Admission 34 3 NCLT-3 Notice of Motion 34 4 NCLT-3A Advertisement detailing petition 35 5 NCLT-3B Individual Notice of petition/application to creditors, members, etc 68 6 NCLT-4 General Heading for proceedings 34 7 NCLT-5 Notice 34 and 37 8 NCLT-6 General Affidavit Verifying Petition 34 9 NCLT-7 Affidavit by way evidence 39 10 NCLT-8 Application for Execution of Order under clause (3) of section 424 of the Act with reference to a Decree 56 11 NCLT-9 General Heading for proceedings 72, 76, 82, 84, 88 and 154 and also General Form for all purposes if no specific