Wednesday, October 5

Tag: Regulatory

When is the Due Date for Filing DIR-3 KYC for FY 21-22?
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When is the Due Date for Filing DIR-3 KYC for FY 21-22?

For Financial Year 21-22 - any person who has been allotted “Director Identification Number (DIN/DPIN)” on or before 31st March 2022 and the status of such DIN is ‘Approved’, needs to file form DIR-3 KYC to update KYC details in the system on or before 30 Sep 2022. 30 Sep 2022 is the last date for filing DIR-3 KYC form for FY 21-22 After expiry of the respective due dates, system will mark all non-compliant DINs against which DIR-3 KYC form has not been filed as ‘Deactivated due to non-filing of DIR-3 KYC’. The Director will be liable to pay the late filing fee of Rs 5,000, for filing after the due date Please follow the steps mentioned below to file DIR-3 KYC form: Login to MCA Visit DIR-3 KYC Web (Home > MCA Services > DIN Services > DIR-3-KYC-WEB) Enter the DI...
Madras HC Upholds Constitutional Validity of Proviso to Section 167 (1) (a) of the Companies Act
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Madras HC Upholds Constitutional Validity of Proviso to Section 167 (1) (a) of the Companies Act

The Madras High Court has upheld the constitutionality of section 167 (1) (a) of the Companies Act that mandates defaulting companies’ directors to vacate their office in other companies where they hold directorships except the company which had defaulted. The first bench of chief justices AP Sahi and Subramonium Prasad upheld that the proviso to section 167(1)(a) was neither arbitrary nor does it violate any of the fundamental rights provided under the Constitution of India. The high court order came in response to a petition filed by a company secretary challenging the proviso. According to the petitioner, the proviso to section 167 (1) (a) violated Article 14 that guarantees the fundamental right of equality.  It was also contended that the proviso is detrimental to non-defaul...
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Update from IBBI – 29 Oct 2018

Update on Public Announcements and Invitation of Resolution Plans from Insolvency and Bankruptcy Board of India mentioned below for your reference. Public Announcements 25-10-2018 Public Announcement of Liquidation Process-Nawa Engineers And Consultants Pvt. Ltd. 05-10-2018 Public Announcement of Liquidation Process-Inasra Technologies Pvt. Ltd. 27-10-2018 Public Announcement of Corporate Insolvency Resolution Process-Snowqueen Towers Pvt. Ltd. 26-10-2018 Public Announcement of Corporate Insolvency Resolution Process-Angad Infrastructure Pvt. Ltd. 26-10-2018 Public Announcement of Corporate Insolvency Resolution Process-Harsh Polymers (India) Ltd. 25-10-2018 Public Announcement of Liquidation Process-Vegan Colloids Ltd. 27-10-2018 Public Announcement of Liquidation...