Amendment in Rules

Ministry of Corporate Affairs (MCA) vide notifications dated 18^th December 2018 has amended the following rules:

1. Companies (Incorporation) Rules, 2014
2. Companies (Registration of Charges) Rules, 2014

Highlights of the amendment are as follows:

• Declaration for Commencement of Business u/s10A is to be filed in e-form INC-20A. Further, in case of a company pursuing objects requiring registration or approval from any sectoral regulators, the approval is also required to be obtained and attached with the form
• The Procedure is prescribed for taking the approval from the Regional Director
• Conversion of Public Company into Private Company
• Change in Financial year  
• In case if no order for approval or re-submission or rejection has been explicitly made by the Regional Director within the stipulated time, an application shall stands approved and an approval order shall be automatically issued to the applicant.
• E-form CHG-4 has been changed and has been aligned with the amendment of Companies (Amendment) Act, 2017 [E-form CHG-4 for Satisfaction of Charge can now be filed within 300 days with additional fees as applicable without Condonation of delay]