MCA UPDATES

The MCA has notified the ‘Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 which shall come into force from 10th July, 2018.

Through this notification, the format of e-form DIR-3 KYC under new Rule 12A (Directors KYC) vide, along with procedure for restoration of deactivated DINs of Directors, applicable w.e.f. 10 July, 2018, has been introduced. The Central Government or Regional Director (Northern Region), shall be empowered to deactivate the Director Identification Number (DIN), of an individual who does not intimate his particulars in e-form DIR-3-KYC within stipulated time. The de-activated DIN shall only be re-activated after e-form DIR-3-KYC is filed along with prescribed fee of Rs. 5,000/-. Further, e-form DIR-3-KYC is required to be filed every year on or before 30th April and for the financial year ended 31st March, 2018, eform DIR-3 KYC shall submit on or before 31st August, 2018.

MCA

The MCA has notified the much-awaited amendments through the Companies (Registration of Charges) Amendment Rules, 2018, which shall come into force from the date of their publication in the Official Gazette i.e 05-07-2018. A Company or charge holder shall within a period of 300 days, instead of 30 days, from the date of payment or satisfaction in full or any charge registered, give intimation of the same to the Registrar in Form No. CHG-4 along with the prescribed Fee. Further, if the form is filed beyond 300 days, the Registrar shall not register the same unless the delay is condoned by the Central Government.