faq on forms under indian companies act, 2013

FAQ ON FILING OF FORMS AND

RETURNS UNDER COMPANY LAW

(SELECT FORMS ONLY)CHANDIGARH CHAPTER OF NIRC OF ICAI

Presented ByAJAY GARG WITH NITIN RAWAT

Team AGBians

Team AGBians

Under CA1956, we used to work with single DSC

Will Single DSC still serve the purpose for Incorporation? If not then why?

DIGITAL SIGNATURE CERTIFICATE

Team AGBians

Under CA 1956, we never procured rather never asked such specific letters from Client Companies?

Why needed now? Is there any prescribed format? How can I preserve the same?

LETTER OF ENGAGEMENT AND AUTHORIZATION

Team AGBians

THE INCORPORATION SEEM TO BE VERY DIFFICULT TODAY AND TIME CONSUMING TOO

WHAT ARE THE FORMS RELATED TO INCORPORATION? AS A PROFESSIONAL WHAT PRECAUTONS SHALL I TAKE WHILE INCORPORATING COMPANY?

INCORPORATION WORRIES

Team AGBians

ANNUAL FILING 2013-14: WHETHER OLD FORMS OR NEW FORMS?

ARE THE FORMS 23AC, 23 ACA, 20B and 66 - THE RIGHT CHOICE? WILL THESE BE AVAILABLE AT THE TIME OF FILING? Circular No. 08/2014 and 22/2014

23AC/ACA

20B

66

Annual Filing

Team AGBians

Annual Filing 2014-15 Onward

OLD FORMS

Form 23AC Form 23 ACA

FORM - 20 B

FORM 66

NEW FORMS

AOC – 4

MGT – 7 (Annual Return) C No. 22/2014

MGT – 8 (Certificate from PCS)

MR – 3(SEC. AUDIT)

Special Resolution for Borrowing Powers – MGT14

Related Party Transactions – MGT14

Appointment / Regularization of Independent Directors – MGT14/DIR12

Appointment / Regularization of Woman Director – MGT14/DIR12

App./Reapp. of Auditor for 5 or less than 5 years – ADT1+GNL2

Remuneration of Cost Auditor

Team AGBians

NOTICE OF AGM

Existing KMP

Form MR – 1 (Return of Appointment)

Within 60 days of Appointment MGT – 14 (Registration of Resolution for appointment)

Team AGBians

EXISTING KMPs

Team AGBians

Appointment of KMP

Form MR – 1 (Return of Appointment)

Within 60 days of Appointment

From MGT – 14Form DIR - 12

NEW AND SUBSEQUENT KMPs

AUDITOR

Appointment of Auditor S-139

Format ADT – 1 Form GNL -2

Annexure: Consent and Eligibility Certificate

(Within 15 Days from the date of Meeting)

Responsibility Shifted on Company Team AGBians

AUDITOR

Resignation of Auditor S 140

Format ADT – 3Form GNL – 2

(Within 30 Days from the date of meeting to Company and ROC)

Responsibility of Filing on Auditor

Team AGBians

AUDITOR

Removal of Auditor S 140

Central Government Approval+ Shareholders Approval

Format ADT – 2Form GNL - 1

General Meeting – within 60 Days from receipt of approval

Team AGBians

PURPOSE

SAVING ELIGIBILITY TO BECOME DIRECTOR 164(2)(a)

REGULARIZATION OF IRRGEUALR COMPANY

TO PROCURE STATUS OF DORMANT COMPANY

TO AVAIL FAST TRACK EXIT SCHEME

FORM – CLSS -2014 G.C 34/2014 Team AGBians

COMPANY LAW SETTLEMENT SCHEME

Eligible Forms

Form 20B, 21A

Form 23AC , 23ACA, 66, 23B

Form FTE

Form MSC – 1

Team AGBians

COMPANY LAW SETTLEMENT SCHEME

EARLIER THE CONCEPT OF DORMANT COMPANY WAS NOT THERE. MANY OF MY CLIENTS HAVE MORE THAN ONE COMPANY BUT THEY DO NOT FORESEE BUSINESS ACTIVITIES IN SOME OF SUCH COMPANIES IN NEAR FUTURE

WHICH FORM I NEED TO FILE TO TAKE ADVANTAGE OF DORMANT COMPANY STATUS?

Team AGBians

DORMANT COMPANY

DORMANT COMPANY

Application for status of Dormant Co.

Form MSC – 1 with GNL - 1Form MGT – 14

Certificate from ROC

Format – MSC – 2

Return of Dormant Co.

Form MSC - 3

Team AGBians

DORMANT COMPANY

APPLICATION FOR STATUS OF ACTIVE CO.

Format MSC – 4 with GNL - 1Form MGT – 14

CERTIFICATE FROM ROC

Format – MSC – 5

Team AGBians

Documents: •No Objection Certificate•Board Resolution Copy•Application for striking off•Address Proofs of Directors•Annexure –A : Affidavit (to be given individually by every Director)•Annexure –B : Indemnity Bond (to be given individually or collectively by every Director)•Annexure –C : Statement of Accounts < one month old

Form: FTEFees : Rs. 5000/-

Team AGBians

FAST TRACK EXIT

Change in Shareholding PatternSection -93

Form MGT - 10 Listed companies to be more vigilant and informative

Reporting 15 days

Change in shareholding pattern of

•Promoters

•Top 10 shareholders

WHAT’S NEW – LISTED ENTITY

Team AGBians

Report on AGMSection -121

Format MGT - 15

Reporting 30 days

AGM Happenings No format prescribed till now

WHAT’S NEW – LISTED ENTITY

Team AGBians

Team AGBians

LATE FILING COMPOUNDING

Filing of any Form – Within 15/30 Days as may be prescribed+270 Days (S - 403)Form - GNL -1

FORM FOR COMPOUNDING

Form Related Issues – Solutions?

Write to mcahelpdesk

Call to MCA HelpDesk at : 0124- 4832500

Raise the ticket for individual problems

E-mail the difficulty to MCA officers involved in project: Mr. Sanjay Gupta ; Mr. Anil Kumar Bhardwaj

Write to officers of Infosys bhasker_s@infosys.com / mayank_wadhera@infosys.com Team AGBians

Certification - Precautions

• Complete set of Annexures.• Scan Impression -Clear and Readable • False, Misleading, Omission, Incomplete

Information• Counter Certificates – for gaps, if any• Attach Explanation wherever any aspect is

missing.GC No.

10/2014 Dt. 07/05/2014

Team AGBians

AJAY GARG AND NITIN RAWAT

TEAM AGBIANSagbcorplegal@gmail.com

09953753054