Corporate Updates 03.07.2016

MCA UPDATE

1. Companies (Removal of Difficulties) Third Order 2016

Effective from 01/04/2014

Time period to comply with rotation changed in a logical manner.

Instead of 3 years, time period given till 1st AGM held after 3 years.

http://www.mca.gov.in/Ministry/pdf/ROD_Third_Order_2016.pdf


2. Companies (Appointment & Remuneration of Managerial Personnel) Amendment Rules 2016

A. MR-1 not required to be filed for CEO, CS, CFO.

B.  disclosure relating to Directors and employees getting remuneration reduced.

 Disclosure of employees whose salary is Rs. 1.2 crore p.a. / 8.5 lac p.m. to be made (instead of 60 lac p.a. / 5 lac p.m.)

http://www.mca.gov.in/Ministry/pdf/AmendmentRules_01072016.pdf


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