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Active Form INC 22A date extended to 15th June, 2019

Ministry of Corporate Affairs extended date of filing form active INC 22A to 15th June 2019 for the companies which are registered on or before 31st December 2017

Official Notification form MCA 

http://www.mca.gov.in/Ministry/pdf/CompaniesRegistrationOfficesFeesRule_25042019.pdf

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DIR-3KYC – Update from MCA for Filing DIR-3KYC on Annual Basis

  

As per rule 12A of the Companies (Appointment and Qualification of Directors) Rules 2014, “every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall, submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year. Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March, 2018, shall submit e-form DIR-3 KYC on or before 5th October,2018.”

However, the DIR-3 KYC e-form presently available on the portal does not cater for the following: (i) Filing on annual basis, and (ii) Filing in respect of DINs allotted post 31 March 2018. It presently caters only to those individuals who were allotted DINs as on 31st March 2018 and whose DINs have been marked as ‘Deactivated due to non-filing of DIR-3 KYC’. Stakeholders may please note that DIN holders are required to file the DIR-3 KYC form every year, so that they are aware of and confirm the data & information as available in the MCA21 system.

With the objective of making the form more user friendly, the form is presently being modified to enable pre-filling of data & information so that annual filings can be done by DIN holders in a simple and user friendly manner.

The revised form, which will be shortly deployed, can be filed without any fee within a period of 30 days from the date of deployment. Accordingly, DIN holders who had filed DIR-3 KYC form earlier and complied with the said provisions may kindly await the deployment of the modified form for fulfilling their compliance requirements.

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Last date for filing ACTIVE Form INC 22A is 25th April 2019

Last date for filing ACTIVE Form INC 22A is 25th April 2019

Request you to kindly update photographs of registered office along with one Director with longitude and latitude of exact address.

Penalty after 25th April – 10000/-

File ACTIVE Form INC 22A with Fastlegal -call 9782280098, email- [email protected]

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How to file Form INC 22A (Active Company Tagging Identities and Verification)

Active Company Tagging Identities and Verification (ACTIVE) form INC 22A is required to filed by every Company incorporated on or before 31st December, 2017 to MCA.

Mandatory Requirements for Filing Form INC 22A: 

  1. Address of Registered Office of the company, Photo of Office Address is required to be uploading along with Director of the company who is signing the Form INC22A
  2. Company should file all its overdue returns before filing form INC22A
  3. Every Director of the company must be KYC complied ( Must have filed form DIR3KYC) 
  4. Email Id of the company ( to be verified through OTP) 
  5. List of Directors as on date of filing of Form INC 22A
  6. Details of Auditor of the company including Name of Firm, PAN, Membership Number , Period from which Appointed  
  7. Details of cost Auditors, if applicable  
  8. Details of Managing Director , CEO, Manager of the company 
  9. Details of company Secretary of the company , if applicable 
  10. Details of CFO of the company , if applicable 
  11. SRN of E form Filed for Financial Year 2017-18

Due Date for Filing Form INC 22A (ACTIVE) 

The E form INC22A is required to Filed on or Before 25th April, 2019 

Late Fee

Late Fee for Filing E form INC 22A after 25th April 2019 will be Rs. 10000/- 

Effect of Non filing 

Company Status will be Changed to “ACTlVE-non-compliant” and Company will not required to file other forms 

(i) SH-07 (Changc in Authorizr:d Capital);

(ii) PAS-03 (Changc in Paid-up Capital);

(iii)DIR- 12 (Changes in Director except cessation);

(iv) INC-22 (Changc in Registered Ofhce);

(v) INC-28 (Amalgamation, de-merger)

File ACTIVE (INC22A ) with Fastlegal – Call – 9782280098 or Email : [email protected] 

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Reporting of Outstanding Loans and Advances to MCA in E-form DPT-3

In the Recent Notification dated 22nd Jan, 2019 Ministry of Corporate Affairs has mandated every Company to Report outstanding and Advances to MCA in E Form DPT-3 within 90 days of this notification. 

The MCA has amended the existing deposit rules in which MCA has clarified that  that Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company.


Who is Required to File Form DPT-3 

Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits,

in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to the date of publication of this notification in the Official Gazette, as specified

in Form DPT-3

within ninety days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014

Every Company : Means Every company whether Private Company, Public Company, Small Company, OPC, Nidhi Company etc 

What Information to be provided in Form DPT-3 for Amounts which are not considered as Deposits:-

 Any amount received from or as Loan or Financial Assistance  –

  • the Central Government; or
  • a State Government; or any amount received from any other source whose repayment is guaranteed by the Central Government or State Government; or
  • any amount received from a local authority; or
  • any amount received from statutory authority constituted under an Act of Parliament or a State Legislature.
  • Foreign Governments
  • Foreign or international banks
  • Multilateral financial institutions
  • Foreign Governments owned development financial institutions;
  • Foreign export credit agencies
  • Foreign collaborators
  • Foreign body corporate
  • Foreign citizens
  • Foreign authorities 
  • Persons residents outside India subject to the provisions of Foreign Exchange Management Act, 1999 (42 of 1999)
  • A loan or facility from any banking company
  • From the state Bank of India or any of its subsidiary banks
  • From a banking institution notified by the Central Government under section 51 of the Banking Regulation Act
  •  A corresponding new bank as defined in clause( d )of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980); or
  •  From a cooperative bank as defined in clause (b-ii) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934)
  • Public Financial Institutions notified by the Central Government;or
  • Any regional financial institutions
  • Insurance companies; or
  • Scheduled Banks as defined in the Reserve Bank of India Act,1934(2 of 1934).
  • Any amount received against issue of commercial paper or any other instruments issued in accordance with the guidelines or notification issued by the Reserve Bank of India
  • Any amount received by the company from any other company
  • Any amount received and held pursuant to an offer made in accordance with the provisions of the Act towards subscription to any securities including share application money or advance towards allotment of securities pending allotment, so long as such amount is appropriated only against the amount due on allotment of securities applied for
  • Any amount received from a person who, at the time of the receipt of the amount, was a director of the company or the relative of the director of a private company
  • Any amount raised by the issue of bonds or debentures secured by a first charge or a charge ranking pari passu with the first charge on any assets referred to in Schedule III of the Act excluding intangible assets of the company
  • Any amount raised by the issue of non-convertible debentures not constituting a charge on the assets of the company and listed on recognized stock exchange as per applicable regulations made by Securities and Exchange Board of India
  • Any amount received from an employee of the company not exceeding his annual salary under a contract of employment with the company in the nature of non-interest bearing security deposit
  • Any non-interest bearing amount received and held in trust

Any amount received in course of , or for the purposes of the business of the company-

  • As an advance for supply of goods or provision of services accounted for in any manner whatsoever provided that such advance is appropriated against supply of goods or provision of services within a period of three hundred and sixty five days from the date of acceptance of such advance.
  •  As advance accounted for in any manner whatsoever, received in connection with consideration for immovable property under an agreement or arrangement, provided that such advance is adjusted against such property in accordance with the terms of agreement or arrangement.
  • As security deposit for performance of the contract of supply of goods or provision of services
  • As advance received under long term projects for supply of capital goods except those covered under item (b) of subclause (xii) clause (c) of sub- rule (1) of rule (2) of the Companies (Acceptance of Deposits) Rules, 2014.
  • As an advance towards consideration for providing future services in the form of a warranty or maintenance contract as per written agreement, if the period for providing such services does not exceed the period prevalent as per common business practice or five years, from the date of acceptance of such service whichever is less.
  • As advance received and allowed by any sectoral regulator or in accordance with directions of Central or State Government.
  • As an advance for subscription towards publication, whether in print or electronic to be adjusted against receipt of such publications.
  • Any amount brought in by promoters of the company by way of unsecured loans in pursuance of the stipulation of any lending financial institution.
  • Any amount received by a Nidhi company in accordance with the rules made under section 406 of the Act.
  • Any amount received by way of subscription in respect of chit under the Chit Funds Act, 1982(4 of 1982)
  • Any amount received by company under any collective Investment scheme in compliance with regulations framed by the Securities and Exchange Board of India
  • Any amount of twenty five lakh rupees or more received by a start up company, by way of convertible note (convertible into equity shares or repayable within a period not exceeding five years from the date of issue) in a single tranche, from a person

Any amount received by a company from –

  •  Alternate Investment Funds
  • Domestic venture Capital Funds
  • Infrastructure Investments Trusts
  • Real Estate Investment Trusts
  • Mutual Funds registered with the Securities and Exchange Board of India.

In all the above cases which are not considered as Deposit , Specific Amount with each case is required to Reported  in the E form.

What if company does not have any amount that is required to be reported ?

In this case company is not required to file Form DPT-3 

Is DPT-3 is One Time Return or to be Filed Every Year : 

Non Deposit Amounts are to be Reported One Time Only

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MSME Return to MCA/ROC

In the recent amendment the Ministry of Micro small and Medium enterprises prescribed Half Yearly Reporting to MCA by Companies 
which receives services or goods from micro or small enterprises and whose payments to micro and small enterprises suppliers exceed 45 days

Every company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days from the date of publication of this notification – Means the Due date for First Return is 21st Feb, 2019

Everycompany shall file a return as per MSME Form I annexed to this Order, by 31st October for the period from April to September and by 30th April for the period from October to March.

Form Required to be Filed to MCA/ROC:-

MSME Form I

Information required to be Filed in MSME Form I:-

Initial return of outstanding dues to Micro or Small Enterprises Suppliers

Total outstanding amount due as on date of notification of this order

Particulars of the name of suppliers and amount of payments due :-

  • Financial Years/Particulars
  • Name of Suppliers
  • PAN of Suppliers
  • Amount Due
  • Specify the date from which amount is due

REGULAR RETURN OF OUTSTANDING DUES TO MICRO AND SMALL ENTERPIRSES

Total outstanding amount during April to September

Particulars of the name of suppliers and amount of payments due :-

  • Financial Years/Particulars
  • Name of Suppliers
  • PAN of Suppliers
  • Amount Due
  • Specify the date from which amount is due

Total outstanding amount during October to March

  • Financial Years/Particulars
  • Name of Suppliers
  • PAN of Suppliers
  • Amount Due
  • Specify the date from which amount is due

Reasons for Delay in amount of payments due

The Form is required to be Digitally Signed by Director/CEO/Manager/Company Secretary of the Company

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How to Appoint or Add New Director in Private Limited Company

In Private Limited Company Directors plays main role in its functioning, Directors takes day to day decisions for business operations, Directors are key person in whom Shareholders of company trusts for their money invested, here in this article we will discuss about how a company can have new Director on its Board legally in India :

Obtain Consent of Proposed Director: 

Proposed Director Should give his consent to act as Director in the Company as per Form DIR-2 , this is very important document and company must obtain form DIR-2 form before proposing him Director of the Company. 

Digital Signature of Proposed Director :

If proposed Director does not have Digital Signature , he must obtain Digital Signature from Certifying Authority in India.

Obtain Director Identification Number (DIN): 

If the proposed Director does not have DIN , he should let the company know that he does not have ,and than the Company in which he is about to be appointed as Director is required to pass Board Resolution for proposing him to be Appointed as Director of the Company , the company should apply for DIN no of the proposed person. The Resolution is required to be attached with Form DIR 3.  ( This is new requirement for obtaining DIN , as new person cannot just apply for DIN if he is not to be appointed as Director in any Company. DIN is only allotted once for lifetime of Director.  

The Company should obtain all KYC documents along with necessary educational Qualification documents required as per terms of job, it is important to note that there is no minimum education qualification required to hold position of Director in the Company in India 


Issue of Notice of General Meeting: 

The Director in the Company are appointed in the General Meeting , the Company should issue notice to all the Shareholders of the Company for holding Extra Ordinary General Meeting of the Company, Please note that Notice of General Meeting should be issued in accordance with provisions of Companies Act, 2013 and rules made there under and Secretarial Standards issued by Institute of Company Secretaries of India (ICSI).


Hold Extra Ordinary General Meeting of the Company : 

Once the Notice of EGM is issued to the shareholders , now on the meeting date and time , hold the meeting and Pass the Necessary Resolution for Appointment of Director as Company. 

Issue Letter of Appointment 

Now issue letter of appointment to the Director of the Company mentioning terms and conditions of appointment and salary to be payable to the Director.

File form DIR-12 to ROC

Once all the above steps are completed the Company should file Form DIR-12 to ROC within 30 days form the date of appointment of Director , It is always advisable to File the Form DIR-12 within next day of appointment, so as to avoid late filing and Additional Fee.


Making Necessary entries in Register of Directors 

Company should make necessary entries in the Register of Director and Key Managerial Personals

File Necessary Amendment Application to GST, Tax Authorities  Other regulators 

The Company is required to make necessary application for Changes in Directors details in GSTN and Other Certificates, wherever applicable. 

Need Director Appointment Services ? Email us at [email protected] or Place your request here 

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Declaration of Commencement of Business by Company

The new Section 10A has been introduced through Companies Amendment Ordinance 2018 with effect from 2nd November , 2018 which provides that every company is now required to file e Form INC 20A with Registrar of Companies within 180 days of its Incorporation for commencement of its business.

Main Requirements for Filing Form INC 20A:

  • The Subscribers has paid the share subscription amount to the Company
  • That the Company has obtained the regulatory approval required to be obtained for commencement of business for business activities which are specially regulated by other sectoral regulators like SEBI, RBI, IRDA etc.. 

What is required to done now :

  • No waiting for Opening of Bank Account 
  • Deposit Share Subscription amount in Company Bank Account 
  • File Form INC-22 for verification of Registered office 
  • File Form INC-20A within ASAP, not later than 180 days of Incorporation of Company 

How to pay Share Subscription amount to Company :

As normal practice every company is registered with Rs. 1Lakh  paid up capital, now it is compulsory that Rs. 1Lakh should be compulsory deposited in Company Bank Account within 180 days of its registration, so it is advisable to avoid incorporating company with higher paid up amount and promoters should go with Rs. 1000/10000 like paid up amount that can easily be paid to company account and Authorized capital of the company should be made at higher limit , so to issue shares at the later stage if required capital is introduced afterwards. 

Lesser amount can also be paid to company by cash , so having lesser amount of paid up capital will help you to better comply with this section. It Is always advisable to deposit the subscription amount to company bank Account as soon as Bank Account of newly incorporated company is opened.  

Section 10A.Commencement of business etc.


(1) A company incorporated after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital shall not commence any business or exercise any borrowing powers unless—
(a) a declaration is filed by a director within a period of one hundred and eighty days of the date of incorporation of the company in such form and verified in such manner as may be prescribed, with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration; and 
(b) The company has filed with the Registrar a verification of its registered office as provided in sub-­section (2) of section 12.  

(2) If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of fifty thousand rupees and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues but not exceeding an amount of one lakh rupees.

 (3) Where no declaration has been filed with the Registrar under clause (a) of sub-section (1) within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of sub-section (2), initiate action for the removal of the name of the company from the register of companies under Chapter XVIII.

How to Register Sole Proprietorship Firm Online in India

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How to Change the Nominee or Member of One Person Company

Every One Person Company shall always have Nominee of Member, that who shall become the member of the company in the event of death or incapacity to contract of member of Once Person of the Company.

First Nominee is declared at the time of Incorporation of company  with consent of nominee form INC -3

Now in case Member of One Person of the company wanted to Change the Nominee of Member than he can do so by Filing prescribed form to Registrar of Companies in Form INC-4

Form INC-4 is required to Filed in Following Cases :

  1. Notice of withdrawal of consent by the nominee of OPC
  2. Intimation about change in the name of the nominee of OPC
  3. Intimation of Cessation

Notice of withdrawal of consent by the nominee of OPC: 

Form INC-4 is required to filed when the Nominee has withdrawal consent to act as nominee of OPC, than the member of the Company shall nominate any other person as Nominee of the Company by taking consent of nominee in form INC-3 along with ID and Address Proof of Nominee.

Intimation about change in the name of the nominee of OPC:

Form INC-4 is required to be when there is change in nominee due to Change in Nominee by Member of OPC

Intimation of Cessation:

When the Member of the Company ceased to be member of the Company due to

  • transfer of ownership of the company to other person ,
  • Death of the member
  • Incapacity of member to contract

In this case the transferee or the nominee will become the member of the company.

In case of Change in Member either member can choose to Change the Nominee to new person or the existing nominee can remain the nominee.

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How to Check Public Documents of Company Registered in India

As a Business Organisation you must be dealing with different organisations in India , that may be Sole Proprietorship, Some are Partnership Firms, Some are Private Limited Companies and LLP’s.  Now it is must that you should know your vendor or customer correctly, for that you will be doing some research about proposed business through internet.  Now you must be aware that you have one more option that let you know about Financial Position of Organisation(Checking of Financial Statements ), Directors of the Company, Annual Return of the Company etc.

To Check the Public Documents of any Company Registered in India, you need to pay Rs. 100 per Company

This process is very simple and can be checked at MCA website ( http://mca.gov.in)  :

  • Create Account at MCA Website :  You must have an MCA account to access public documents facility.
  • Login to your Account : Login to your Account by providing userid and password
  • Go to MCA services and Select Document related Services – and View Public documents
  • Type Company name or CIN of Company
  • Select the Company for which you want to access the public documents
  • Check the Company Documents according to Category and Year that the required documents are available or not.
  • If the required documents are available, Proceed to make payment of Rs. 100
  • Once the payment is confirmed, Download option will be available in the MCA My Workspace page
  • Documents the Required documents and check all the details.

Above steps will help you in doing preliminary due diligence of your prospective customer or vendor.

Need Full Due Diligence Services , email us at [email protected]