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April 2024

Regulatory Referencer

By Pramod Prabhudesai | Rutvik Sanghvi | Sonalee Godbole, Chartered Accountants
Reading Time 10 mins

I. COMPANIES ACT, 2013

1. Adoption of a centralised approach for processing all e-forms filed by companies: MCA has notified that effective 6th February, 2024, the Central Processing Centre (CPC) shall process and dispose of e-forms filed by the companies. This is aimed at freeing up capacity at the offices of Regional Directors and Registrar of Companies to deal with enforcement matters. Further, it has been clarified that the jurisdictional Registrars shall continue to have jurisdiction over the companies whose e-forms are processed by the CPC in respect of all other provisions of the Companies Act, 2013. [Notification No. S.O. 446(E), dated 2nd February, 2024]

2. Guidelines on the appointment of Independent Directors and Board evaluation process: The Confederation of Indian Industry (CII) has issued Guidelines on the Appointment of Independent Directors and the Process of Board Evaluation. The Guidelines are divided into two parts with ‘Part A’ focusing on Appointment of Independent Directors & Succession Planning and ‘Part B’ on the Process of Board Evaluation. [Guidelines dated 6th February, 2024]

3. Revised Secretarial Standards on ‘Meeting of Board of Directors’ and ‘General Meetings’: The IC

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