Vistra Insights

Vistra India Update 392

January 16, 2020 to January 31, 2020.

COMPANY LAW

1.    Companies (Winding Up) Rules, 2020

Ministry of Corporate Affairs (MCA) has introduced Companies (Winding Up) Rules, 2020. These rules are applicable for winding up of Companies under Companies Act, 2013 and will come into force on April 1, 2020. 

Click to view the circular

 

2.    Extension of last date for filing Form AoC-4 NBFC (Ind AS) and Form AoC-4 CFS NBFC (Ind AS) for FY 2018-19 under Companies Act, 2013

Given that the Form AoC-4 NBFC (Ind AS) and Form AoC-4 CFS NBFC (Ind AS) are expected to be available on MCA portal by 17th February, 2020, Ministry of Corporate Affairs has extended the time limit for filing the forms to 31st March, 2020 without payment of additional fees. 

Click to view the circular

 

3.    Companies (Accounts) Amendment Rules, 2020

Ministry of Corporate Affairs (MCA) has amended Companies (Accounts) Rules, 2014 to provide that every Non-Banking Financial Companies which is required to comply with Ind AS shall file financial statement with Registrar of Companies together with Form AoC-4 NBFC (Ind AS) and Form AoC-4 CFS NBFC (Ind AS). The amendment also prescribes the relevant Forms.

Click to view the circular

 

CUSTOMS

4.    Publishing of rate of exchange for conversion of the foreign currency

The Central Board of Excise and Customs (CBEC) vide Notification No. 05/2020 - Customs (N.T.) notified the rate of exchange for conversion of the foreign currency into Indian currency or vice versa for Export and Import of goods, with effect from 17th of January 2020.

Click to view the circular

 

 

 

 

 

 

 

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