The proposed scheme of compromise or arrangement filed under sections 230-232 or Section 66 of the Companies Act 2013, as the case may be is required to be served upon the Exchange seeking representations or objections, if any, through online mode. Now, would be accepted and processed through the Listing Centre only and no physical filings would be accepted.The service of such notice can be filed through the Listing Module – NCLT.

In reference to incorporation of company with zero fees, MCA has revised the limit of Rs. 10 Lacs of nominal capital to Rs. 15 Lacs with effect from March 18, 2019. Further, in case of shifting of registered office from one State/UT to another State/UT, advertisement can be made in English Newspaper with widely (in place of “widest”) circulated.

SEBI vide its Circular dated 12th March, 2019 modified the formats/timelines/submissions w.r.t. the disclosure of SBO in the shareholding pattern of listed entities pursuant to the introduction of Companies (Significant Beneficial Owners) Amendment Rules, 2019 dated 8th February, 2019.

The investors have the option of holding shares in physical form even after April 01, 2019 and for further transfer of shares are required to be held in dematerialized form only. Also, transfer deed once lodged prior to March 31, 2019 and returned due to any deficiency in any document may be re-lodged for transfer even after the aforesaid date.

Through this newsletter, we want to share the brief of notifications/circulars issued by from Ministry of Corporate Affairs (MCA), Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and other authorities including Insolvency and Bankruptcy Board of India (IBBI), National Company Law Tribunal (NCLT) and Stock Exchanges in the month of March, 2019 and compliance calendar for the month of April, 2019.