1.1 Million Companies To Submit Loans & Receipts to ROC

1.1 Million Companies To Submit Loans & Receipts to ROC
Ministry Of Corporate Affairs has decided to make disclosure guidelines more strict and rigid. According to the mandate, every company other than Government companies need to submit a one time return covering from April 1, 2014, to January 22, 2019, on all outstanding receipts of money or loans taken, which are otherwise not considered deposits.

Highlights of The Companies (Amendment) Ordinance, 2019

Highlights of The Companies (Amendment) Ordinance, 2019
A company must obtain Commencement Certificate within 6 months of incorporation date without which the company cannot commence any business activity or borrow money.
To create a new Charge Filing with Registrar Of Companies (ROC) the time limit has been reduced from 300 days to 60 days.
If a company willfully or wrongly furnishes statement/ information during filing Charge Forms with RoC, shall be liable for misrepresentation and jail.

New Companies Registered from 15th Jan 2019 – 1st Feb 2019

7,519 Companies Incorporated from 15th Jan 2019 – 1st Feb 2019
652 Companies Registered on 16th Jan 2019 which is the highest
6,902 New Private Companies, 202 Public Companies, and 415 Private One Person Company has been registered
Maharashtra has the highest count of new companies – 1,433

MCA Mandates Half Yearly Filing for MSME Buyers | 22nd Jan 2019

Ministry of Corporate Affairs notification on 22nd January 2019
S.O. 368(E) – In the notification it is said every company that gets supplies of goods or services from Micro and Small Enterprises and whose payments to MSME suppliers has exceeded 45 days from the Date of Acceptance/Date of Deemed Acceptance of the goods or services of the suppliers as in the provisions of section 9 of the Micro, Small and Medium Enterprises Development Act, 2006. Hereby company will be referred to as ‘Specified Company’ shall submit a half yearly return to the Ministry of Corporate Affairs.