Stakeholders have lost their hopes of regaining the fortune invested. Ministry of Corporate Affairs (MCA) has come to the rescue. MCA had already started working on the amendments companies act, 2013 much before the lockdown was announced. Here are some siting’s and amendments under the Companies Act, 2013 which is an initiative taken by MCA:-
- Changes in Companies (Significant Beneficial Owners) Rules 2018 to identify individuals/entities having significant control over the affairs of a company
- Companies (Incorporation) Rules, 2014 mandating all the companies incorporated before 31 December 2017 to upload all their particulars of various compliances including details of registered office in Form INC 22A Active.
- Specified Companies (Furnishing of information about the payment to micro and small enterprise suppliers) Order, 2019, mandating all the companies who receive goods or services from MSME and the payment for which is not made within 45 days from the date of acceptance or the date of deemed acceptance of goods or services from MSME to report such transactions in MSME Form I.
- Changes in Companies (Acceptance of Deposits) Rules, 2014 mandating all companies to file a return of deposits in Form DPT 3 with the MCA, furnishing information about filing the transactions that have not been considered as a deposit or both under the Companies (Acceptance of Deposits) Rules 2014 (Deposit Rules).
|A requirement of filing of MSME Form-I3||Intending to support the growth of and to protect the interest of MSME’s, the MCA has issued a notification dated 22 January 2019, mandating all the Specified Companies4, whose supply of goods or services from registered MSME and the respective payments to these registered MSME suppliers exceed 45 days from the date of acceptance or the date of deemed acceptance of the goods or services, shall file the Initial Return in MSME Form I with Ministry of Corporate Affairs|
Details required to be collected from the MSME suppliers before filing the return with the MCA
Following details are required to be collected from MSME to file the said form: Certificate of Registration issued by the Ministry of Micro Small and Medium Scale Enterprises to the MSME to ensure that the concerned entity is an MSME. Financial years to which the amount relates Name of the MSME PAN of MSME Amount due Date from which amount is due Total outstanding amount due as on date of notification of this order (i.e. 22 January 2019) Reason for delay Filing of half yearly return
Every company who receive goods or services from MSME and whose payments to MSME suppliers exceed forty-five days from the date of acceptance or the date of deemed acceptance of the goods or services as per the provisions of the MSME Act 2006 shall file the half-yearly returns for the period ended April to September and October to March every year.
|MSME Form I||Within 30 days from the date of Notification of the said Form5|
The due date for filing half-yearly return For the period from April to September- On or before 31st October every year For the period from October to March- on or before 30th April of every year
|The Companies (Acceptance of Deposits) Amendment Rules, 20196||Every Company shall have to file Form DPT 3 providing particulars of transaction that has not been considered as deposit7 or both. Thus, all companies other than Government Companies will have to file Form DPT-3 also for transactions that are listed under Deposit Rules.|
Further, the companies in its annual financial statements, are required to disclose about the money received from Directors (in case of companies other than private companies) and money received from Directors or relatives of Directors (in case of private companies only).
|Form DPT 3||On or before 22 April 2019|
The amendments have been made to look after the sole interest of the investors, stakeholders, and persons associated with finance.