1. Companies (Authorised to Register) Amendment Rules, 2016
The Ministry of Corporate Affairs has vide Notification dated 31st May 2016 made rules to amend the Companies (Authorised to Registered) Rules, 2014. These Rules are applicable for conversion of a partnership firm into company, and for conversion of an LLP into company. Full text of the Rules can be accessed at
http://www.mca.gov.in/Ministry/pdf/NotificationOrder_ 01062016.pdf
2. Companies (Corporate Social Responsibility Policy) Amendment Rules, 2016.
The Ministry of Corporate Affairs has vide Notification dated 23rd May 2016 notified the rules to amend the Companies (Corporate Social Responsibility Policy) Rules, 2014.
Rule 4 of the Companies (Corporate Social Responsibility Policy) Rules, 2014, is substituted by, “The Board of a company can decide to undertake its CSR activities approved by the CSR Committee, through
(a) A company established under section 8 of the Act or a registered trust or a registered society, established by the company, either singly or along with any other company, or
(b) A company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government or any entity established under an Act of Parliament or a State legislature
Provided that if, the Board of a company decides to undertake its CSR activities through a company established under section 8 of the Act or a registered trust or a registered society, other than those specified in this sub-rule, such company or trust or society shall have an established track record of three years in undertaking similar programs or projects; and the company has specified the projects or programs to be undertaken, the modalities of utilization of funds of such projects and programs and the monitoring and reporting mechanism.
Further vide Notification dated 16th May 2016, the Ministry of Corporate Affairs has clarified that while taking CSR activities under the Act, the Company must not contravene any other laws of the land including Cigarette and Other Tobacco Products Act 2003.
The rules can be accessed at
http://www.mca.gov. in/Ministry/pdf/Notification_CSR_30052016.pdf and notification at http://www.mca.gov.in/Ministry/pdf/General_ circular05_16052016.pdf
3. Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2016
The Ministry of Corporate Affairs has vide Notification dated 4th April 2016 made an Amendment to the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015.
Rule 3 has been substituted with the following proviso “Provided that the companies in banking, insurance, power sector, non-banking financial companies and housing finance companies need not file financial statements under this rule”.
The rules can be accessed at
http://www.mca.gov.in/ Ministry/pdf/Rules_06042016.pdf
4. Notification constituting the National Company Law Tribunal and National Company Law Appellate Tribunal under Sections 408 and 410 respectively of the Companies Act, 2013
The Central Government has by Notification No S.O. 1933 (E ) dated 1st June 2016 constituted the National Company Law Appellate Tribunal for hearing appeals against the orders of the National Company Law Tribunal with effect from the 1st day of June, 2016
The Notification can be accessed at
http://www.mca. gov.in/Ministry/pdf/Notification_02062016_II.pdf
5. Commencement Notification under Section 1(3) of the Companies Act, 2013 and Notification constituting the Benches of National Company Law Tribunal
The Ministry of Corporate Affairs has vide Notification S.O. 1934(E) dated 1st June 2016 has notified the various sections of the Companies Act 2013 that have come into force.
The list can be accessed at http://www.mca.gov.in/ Ministry/pdf/Notification_02062016_I.pdf
The Central Government has also constituted the following Benches of the National Company Law Tribunal:
6. Transfer of matters or proceedings or cases pending before the Company Law Board to National Company Law Tribunal
The Ministry of Corporate Affairs has vide Notification S.O. 1936(E) dated 1st June 2016 declared that w.e.f 01st day of June, 2016, all matters or proceedings or cases pending before the Board of Company Law Administration (Company Law Board) shall stand transferred to the National Company Law Tribunal and it shall dispose of such matters or proceedings or cases in accordance with the provisions of the Companies Act, 2013 or the Companies Act, 1956.
The Notification can be accessed at
http://www.mca. gov.in/Ministry/pdf/Notification_02062016_III.pdf
7. Special Courts Under Section 435 Of Companies Act, 2013
The Ministry of Corporate Affairs has vide Notification S.O. 1796(E) dated 18th May 2016 after obtaining the concurrence of the respective Chief Justices of the High Courts, designates the following Courts mentioned in the Table below as Special Courts for the purposes of trial of offences punishable under the Companies Act, 2013 with imprisonment of two years or more in terms of section 435 of the Companies Act, 2013, namely:
