1. Formation of High Level Committee For Corporate Social Responsibility: The
Ministry of Corporate Affairs has vide General Circular No 1/2015 dated
3rd February 2015 constituted a High Level Committee to suggest
Measures for improved monitoring and implementation of Corporate Social
responsibility under Shri Anil Baijal.
2. Extension of Time for Filing Form for Appointment of Cost Auditor
The
Ministry of Corporate Affairs has vide General Circular no 2/2015 dated
11th February 2015 extended the time for filing of Notice of
Appointment of the Cost Auditor in Form CRA 2 without late fee till 31st
March 2015.
3. Companies (Indian Accounting Standards) Rules 2015:
The
Ministry of Corporate Affairs has vide Notification dated 16th February
2015 notified that Companies ( Indian Accounting Standards ) Rules 2015
which shall come into force by 1st April 2015 and will be applicable
for Companies specified therein for the year ending 31.03.2016.
4. Companies (Removal of Difficulties) Order, 2015 :
The Ministry of Corporate Affairs has passed the Companies (Removal of Difficulties) Order 2015 on 13th February 2015.
1 Section 2(85) which provides for the definition of “small Company” shall now read”
‘‘small company’’ means a company, other than a public company,—
(i)
paid-up share capital of which does not exceed fifty lakh rupees or
such higher amount as may be prescribed which shall not be more than
five crore rupees; and
(ii) turnover of which as per its last profit
and loss account does not exceed two crore rupees or such higher amount
as may be prescribed which shall not be more than twenty crore rupees:
Provided that nothing in this clause shall apply to— (A) a holding
company or a subsidiary company; (B) a company registered under section
8; or (C) a company or body corporate governed by any Special Act;
2
Section 186 which pertains to Loan and Invest ment by Company, the
following is to be added in sub section (11) in clause (b), after item
(iii):
“(iv) made by a banking company or an insurance company
or a housing finance company, making acquisition of securities in the
ordinary course of its business.
