Corporate Update March 2021

A. Companies (Management and Administration) Amendment Rules,2021

The Ministry of Corporate Affairs (MCA) on March 5th, 2021, has issued the Companies (Management and Administration) Amendment Rules,2021 to further amend the Companies (Management and Administration) Amendment Rules,2014.
The following amendments have been made: –

• Rule 11(1), which specifies the filing of annual returns, has been substituted, namely: –
  “Every company shall file its annual return in Form No. MGT-7 except One Person Company (OPC) and Small Company. One-person Company and Small Company shall file annual returns from the financial year 2020-2021 onward in Form No. MGT-7A.”
• Rule 12, which specifies the filing of annual return with registrar, has been substituted namely:
  
  • Filling of Annual Return with Registrar: – A copy of annual return shall be filed with the Registrar with such fees as may be specified for this purpose.
  • Form No. MGT-7, which specifics the annual return filed by the One-Person Company and small companies, has been substituted.
  • Form No. MGT-7A, which specifics the abridged annual return for One-Person Company and small companies, has been substituted.

Link to Notification:

http://www.mca.gov.in/Ministry/pdf/CompaniesMgmtAdminAmndtRules_05032021.pdf

B. Companies (Incorporation) Third Amendment Rules,2021

The MCA on March 5th March, has issued the Companies (Incorporation) Third Amendment Rules,2021 to further amend the Companies (Incorporation) Rules,2014: –
The Following amendments have been made: –
• Form IN 35 AGILE-PRO, which specifics the application of registration of the Goods and Service Tax Identification Number, has been amended.

Link to the Notification:

http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporation3rdAmndtRules_05032021.pdf