Corporate Updates 07.12.2016

MCA

Ministry of Corporate Affairs has issued Clarification regarding filing of offline Challans with IEPF Authority under Companies Act.MCA has made it mandatory to deposit the amount in IEPF through online challans only and all Challans for IEPF will be generated online only. Further Form IEPF-1 mentioning SRN No. of Challan generated online can only be accepted. All Companies transferring the amount to IEPF are requested to ensure that the process mentioned above is followed. The offline challans will not be accepted by MCA from 15th December, 2016.
 
IBBI

The Insolvency and Bankruptcy Board of India has published the Syllabus, Format and Frequency of the “Limited InsolvencyExamination”. Under Regulation 5 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, Chartered Accountants, Company Secretaries, Cost Accountants, and Advocates having ten years of experience whether in employment or in practice, are required to pass Limited Insolvency Examination, for registration as an insolvency professional. Accordingly, members of the Institute having 10 years of experience as a Company Secretary whether in employment or in practice can register themselves as Insolvency Professionals after passing the Limited Insolvency Examination.
"CS Shivam Rastogi is a Fellow Member of the Institute of Company Secretaries of India, Managing Partner of SVR & Co. Company Secretaries and Past Chairman of Noida Chapter of NIRC of the ICSI. He also have diversified experience in Corporate Laws, Taxation, Legal Audits, Secretarial Management & Compliance thereof, Arbitration & Reconciliation, Stock Market operations, Consumer Protection Laws, Business Administration"

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