MCA
The Ministry of Corporate Affairs has amended the Companies (Incorporation) Rules, 2014 and notified the Companies (Incorporation) Fourth Amendment Rules, 2016 which shall come into force on the date of their publication in the Official Gazette. Revised integrated incorporation form for companies has been released through this Amendment. “Simplified Proforma for Incorporating Companies Electronically (SPICe-INC 32)” along with electronic MoA (SPICe MoA-INC 33) and electronic AoA(SPICe AoA-INC 34) are available for filing purposes. Before filing these forms, stakeholders may get themselves familiarized by downloading them from the portal and thoroughly reading the corresponding instruction kits.
MCA
A three-member Expert Group, headed by TERI, Chairman Sh. Ashok Chawla, constituted to
examine issues related to audit firms, including possible adverse
impact from restrictive shareholder agreements. According to the order,
the Expert Group would examine whether joint audit could be introduced
in cases where there are restrictive covenants and other specified cases
where there is a multinational audit firm as the auditor. Further, the
panel would look at having such firms which can provide services outside
India, particularly in developing countries, in competition with
multinational accounting firms. The panel has been given two months time
to submit its report to the government. If required, the group can
invite or co-opt subject matter experts relating to audit of books of
accounts and financial statements.
Thanks & Regards,
CS Meetesh Shiroya
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