Recent Developments in Companies Act, 2013 CS. Devendra V Deshpande Company Secretary

Topics Covered Directors Disqualification, Revival of Companies & Activation Significant Beneficial Ownership Demat of Shares of Public Companies Section 185 DIR 3 – KYC and Filing DPT 3 – Notification MSME Notifications Section 465 Adjudication and penalty Company Active Form – 22A

Disqualification revival and Activation Disqualified in which Company? Vacation in which Company? Can it be removed and effect of CODS after revival of the Company? Whether DIR 3 KYC non filing is disqualification? Revival of Companies current scenario Date of Annual General Meeting for 2018 after revival Compounding 1 Director on 31.03.2018 / 31.03.2019

SBO Significant beneficial Ownership Section 89 and Section 90 10% Calculation Finding an Individual BEN 1 and BEN 2 filing

Demat of Shares Whether Mandatory? Cut off date and Further issue / transfer of shares Demat of Shares with NSDL / CDSL Half yearly return Exemptions

Section 185 Individual Director Firms of Director Companies / Body Corporate in which the Director is Interested LLP Effect of exemption notification dated 05.06.2015

DIR 3 KYC Annual Compliance Attachments – Latest Utility Bills Validity of documents attested Effect of non KYC Annual Filing with non KYC DIN Resignation / demise of Director without KYC

DPT 3 Deposits / Exempted Deposits / Both One Time Return Annual Return Applicable to All Companies Outstanding period for One time Return VIMP What is to be included in amount not being a deposit (Tricky points)

MSME 2 Compliances 2 kinds of Companies are specified 1 for Registration and other for half yearly Return Section 9 of MSME

Section 465 30.01.2019 Repeal of Companies Act, 1956 Section 67 of LLP Act Producer Companies Provisions Saving of earlier provisions of repealed enactments

The Companies (Amendment) Ordinance, 2018 Fine and Penalty Whether it is Effective? Whether the forms are amended or introduced? Verification of Registered Office Commencement of Business Valuer

Adjudication and penalty ROC to be adjudication officer 1st Notice 15 – 30 days Reply in E mode – extension 15 days Hearing and appearance within 10 days Penalty would be imposed Appeal to RD – 60 days

FORM 22A – ACTIVE COMPANY Prefill Correct the data email etc Disqualified / non active Directors then cant be filed NO KMP including CS – can not be filed Geo Tagging If not filed then penalty 10000 and Company would not be able to file forms with MCA

Geo tagging

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