Companies LawLegal Updates

MCA issues Companies (Incorporation) Fourth Amendment Rules, mandates declaration at the time commencement of Business

MCA Updates

MCA introduces Form No. INC- 20A which would be used in the form of declaration for commencement of Business. Thereafter, inserts Rule 23A which mandates the directors to submit a declaration at the time of commencement of Business under Section 10 A in Form No. INC- 20A in accordance with Companies (Registration Offices and Fees) Rules 2014. Further directs that the content in the form is required to be verified by the CS, or a CA or a Cost Accountant in practice. MCA further clarifies that the companies that requires registration or approval from any sectoral regulators such as RBI, SEBI etc. are also required to obtain and attach the  respective declaration.

Further, MCA inserts Rule 41 specifying the list of the documents that are required to be submitted along with the application under Section 14 for conversion of public company into private company within 60 days from the day of passing a special Resolution before the Regional Director in e-form No. RD-1 along with the fees as provided in the Companies (Registration Offices and Fees) Rules,2014. In reference to the conversion of public company into private company MCA introduces form no. – INC 25 wherein advertisement is required to be published in the newspapers mentioning about the conversion. In addition inserts Form no. RD- 1 which is form required for filing the application to the Regional Director for the conversion.

Below is the link of Companies (Incorporation) Fourth Amendment Rules, 2018
http://www.mca.gov.in/Ministry/pdf/CompaniesFourthAmendmentRules_19122018.pd
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