MCA
MCA has notified the Companies (Share Capital and Debentures) Third Amendment Rules, 2016. In
the notification, the cap on issue of sweat equity shares for Start Up
Companies has been raised two fold upto 50% of its paid-up capital upto 5
years from the date of its incorporation or registration. Further, MCA
has notified in the case of issue of convertible securities offered on
preferential basis, the manner of determination of the price of
resultant shares. Amongst many other changes, the requirement to make
the securities allotted by way of preferential offer fully paid up at
the time of their allotment in Rule 13 has been omitted therefrom. The
amended rules shall come into force on the date of their publication in
the Official Gazette.
MCA
MCA has notified that new versions of eforms Form INC-23 (Application
to Regional Director for approval to shift the Registered Office from
one state to another state or from jurisdiction of one Registrar to
another Registrar within the same State), Form MR-1(Return of appointment of MD/WTD/Manager) and Form MR-2 (Form
of application to the Central Government for approval of appointment or
reappointment and remuneration or increase in remuneration or waiver
for excess or over payment to managing director or whole time director
or manager and commission or remuneration to directors) are likely to be
revised on MCA21 Company Forms Download page w.e.f 21st July 2016. Stakeholders
are advised to download the latest version before filing. Form- wise
date of last version change is available at on the website of MCA.
Thanks & Regards,
Meetesh Shiroya
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