GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Proposed Amendments in COMPANIES (MANAGEMENT AND ADMINISTRATION) RULES 2014

News and Press Release - Dated:- 2-2-2016 - Register of members, etc. 7.1 Rule 3 of the Companies (Management and Administration) Rules, 2014 provides that every company limited by shares shall, from the date of its registration, maintain a register of its members in Form No. MGT-1. It also provides that in the case of existing companies, registered under the 1956 Act, particulars shall be compiled within six months from the date of commencement of these Rules. The Committee noted that the compa .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ld be allowed to be transferred to Register of Members under the 2013 Act. Further, it was recommended that particulars as are required to be captured in Form MGT-1 shall be mandatorily maintained in respect of all persons becoming members after 1 April 2014. Finally, , the Committee also recommended incorporation of additional fields in the transfer form SH-4 for obtaining the requisite particulars in MGT-1 for enabling compliance with Rule 3. 7.2 As per Rule 5(2) of the Companies (Management a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

place since the 1956 Act, no amendment is required for the purpose. 7.3 As per Rule 8 of the Companies (Management and Administration) Rules, 2014, every entry in the register maintained under Section 88 of the Act and index included therein is required to be authenticated by the Company Secretary or by any other person authorised by the Board along with the date of board resolution authorising the same. It was pointed out that in respect of listed companies, there are huge transactions almost o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rson whose name is entered in the register of members of a company as the holder of shares in that company but who does not hold the beneficial interest in such shares (hereinafter referred to as the registered owner ), shall file with the company, a declaration to that effect in Form No. MGT-4 in duplicate, within a period of thirty days from the date on which his name is entered in the register of members of such company. Further, Form MGT-5 is prescribed for declaration to be given by benefic .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e attached to Form MGT-6. However, the suggestion to consolidate the information in Forms MGT-4 and MGT-5 into one form was not found to be acceptable as purposes for these two forms are different. Annual Return 7.5 Section 92(1) read with Rule 11(1) prescribes that the annual return shall be in Form no. MGT-7. The Committee noted that Form MGT-7 requires furnishing of specific information which is already captured in the Board s report such as CSR spend, remuneration of directors, details of tu .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ents, Board s Report etc. and making disclosures more relevant. Further the suggestions for exempting the disclosure of certain particulars in the Annual Return for companies with less than twenty shareholders was not accepted as it was felt that it may lead to too many classifications of companies and consequently lead to lack of clarity. The Committee, however, was of the opinion that a simpler Annual Return form for OPCs and small companies could, be prescribed. 7.6 Section 92(2) read with Ru .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

tract of annual return in form MGT-9 be attached to the board s report. As noted elsewhere also, deletion of this requirement without providing the information contained therein to the members may not be appropriate. The Committee recommended that after including pertinent information as a disclosure requirement under section 134, Form MGT-9 may be omitted (Paragraph 9.11 of Part I of the Report). Return to be filed with Registrar in case promoters stake changes 7.8 Section 93 read with Rule 13 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

general meeting 7.9 Explanation to Rule 17(2) provides that requistionists should convene the extraordinary meeting at the registered office or in the same city or town where it is situated and such meeting should be convened on a working day. It was suggested that the explanation should be modified to allow holding of EGMs by requisition on a day which is not a national holiday and the Committee agreed with the same as the AGMs are also allowed to be convened on any day which is not a national .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version