Illustrations for Understanding Significant Beneficial Ownership - Part 3
This article is in continuation of our previous article on Significant Beneficial Ownership which explains this new concept.
The concept of Significant Beneficial Ownership is brought by the Ministry of Corporate Affairs ("MCA") to identify those individuals who indirectly control or exercise significant shareholding in the Company through layers of artificial entities like Companies or LLPs.
Pursuant to a general extension granted by respective ROCs, the time gap between 2 AGMs can exceed 15 months but cannot exceed 18 months.
The due date of e-form PAS-6 is falling under moratorium period starting from 01.04.2020 to 30.09.2020 given by MCA vide General Circular dated 24th March, 2020 (special measures taken in view of COVID-19 outbreak).
There is a lot of confusions amongst the professionals with respect to getting immunity certificate (filing Form CFSS after 1st October) for Form DPT-3 and other Forms whose due date falling between 01st April, 2020 and 30th September, 2020
The companies are required to file forms related to creation or modification of charges within the timelines provided in section 77 of the Companies Act, 2013, i.e. a total of 120 days of the creation or modification of charge.
Key changes under Companies (Auditor's Report) Order, 2020
The Ministry of Corporate Affairs (MCA) has notified the Indian Institute of Corporate Affairs (IICA) at Manesar (Haryana), as an institute to create and maintain a data bank containing names, addresses and qualifications of persons who are eligible and willing to act as independent directors
The Ministry of Corporate Affairs (MCA) has made certain amendments in Schedule III of the Companies Act, 2013 vide its notification dated 11th October 2018.