Compliance under Companies Act explained: this guide covers what Compliance under Companies Act means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Dear Reader!
This article contains various Compliance requirements under the Companies Act 2013. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
| Applicable Laws/Acts |
Due Dates |
Compliance Particulars |
Forms / Filing mode |
|
Companies Act, 2013
|
Within 180 Days From The Date Of Incorporation Of The Company + An additional time of 6 more months shall be allowed by MCA
(6+6 months) |
As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC.
CLICK HERE |
MCA E- Form INC 20A
(one time compliance) |
| Companies Act, 2013
|
First declaration within 90 days from the date of notification Dt. 08.02.2019
|
A person having Significant beneficial owner shall file a declaration to the reporting company
http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf
i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019
In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.
|
Form BEN-1
Draft Format available at
LINK |
| Companies Act, 2013
|
30.09.2020
(Due Date Extended as covered under CFSS 2020 Scheme |
Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.
(Within 30 days from deployment of the E –form (earlier the date of receipt of declaration in BEN-1 )
CLICK HERE
BEN -2 due date extended till 31.03.2020
Circulars Link:
CLICK HERE |
Form BEN – 2
(e-form deployed by Ministry (ROC)) on 01.07.2019 |
| Companies Act, 2013
|
File between 1st April, 2020 to 30th September, 2020 without any Additional filing fee (Rs. 10,000/-) |
Filing of the particulars of the Company & its registered office.
(by every company incorporated on or before the 31.12.2017.)
Due date extended- Link :
CLICK HERE |
Active Form
INC -22A |
| Companies Act, 2013
|
File between 1st April, 2020 to 30th September, 2020 without any Additional filing fee (Rs. 5,000/-) |
*DIN KYC through DIR 3 KYC Form is an Annual Exercise.
Last date for filing DIR-3 KYC for Financial year 2018-19 has been extended till 14th November 2019
CLICK HERE
Annual Exercise:
CLICK HERE
Penalty after due date is Rs. 5000/-(one time) |
E-Form DIR – 3 KYC
(Web Based and E-form)
|
| Companies Act, 2013
|
within 60 days from the date of deployment of this form on the website of the
Ministry. |
Reconciliation of Share Capital Audit Report (Half-yearly)
Pursuant to sub-rule Rule 9A (8) of Companies (Prospectus and Allotment of Securities) Rules, 2014
To be filed all unlisted companies, deemed public companies
Till further clarification to be filled in GNL-2
Applicable w.e.f. 30.09.2019
Extension Notification:
|
E-Form PAS – 6
Available w.e.f. 15.07.2020 |
| Companies Act, 2013 |
Within 270 days from the date of deployment of this Form |
Annual Return To Be Filed By Auditor With The National Financial Reporting Authority
Click Here
Note on NFRA -2 Click Here |
NFRA-2
(NFRA-2 e-Form live since 9th December 2019.) |
| Companies Act, 2013 |
Due date was 30.06.2020 and can be filed till 30.09.2020 under Moratorium period / CFSS |
DPT 3 is a return of deposits that companies must file to furnish information about deposits and/or outstanding receipt of loan or money other than deposits.
Company can file Form DPT-3 upto 30.09.2020 without any additional fee |
DPT-3 |
- MCA update on Extract on Annual Return (MGT – 9)
Ministry of Corporate Affairs (MCA) vide Gazette ID CG-DL-E-28082020-221419 dated 28
th day of august 2020 has issued and published the Companies (Management and Administration) Amendment Rules, 2020, In exercise of the powers conferred under sub-section (3) of section 92, read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Management and Administration) Rules, 2014.
Applicable w.e.f. from 28th day of August, 2020.
Crux of this notification:
“Provided that a company shall not be required to attach the extract of the annual return with the Board’s report in Form No. MGT.9, in case the web link of such annual return has been disclosed in the Board’s report in accordance with sub-section (3) of section 92 of the Companies Act, 2013.”
For circular, Click here
-
MCA Monthly Update Calendar: August 2020
|
Sl. |
Particulars of the Circulars |
Link |
| 1 |
Report of the Committee on Business Responsibility Reporting |
Click here |
|
2 |
The timeline for receiving the proposals for Research studies on Corporate Governance has expired. It will be informed when applications are being accepted again. |
Click here |
|
3 |
Shri Keshav Chandra, IAS (AGMUT: 1995) has been appointed as Director in the Serious Fraud Investigation Office (SFIO) under Ministry of Corporate Affairs, with effect from the forenoon of 03.08.2020, for an overall tenure of five years up to 17.12.2022 or until further orders, whichever is earlier. |
Click Here |
|
4 |
Filling up the posts of Joint Registrar, Deputy Registrar, Assistant Registrar, Programmer, Court Officer, Private Secretary, Senior Legal Assistant, Assistant Library Information Officer, etc. on deputation basis in National Company Law Tribunal (NCLT) Benches. - Last date of receipt of applications is 19.10.2020. |
Click here |
| 5. |
Clarification on Extension of Annual General Meeting (AGM) for the financial year ended 31.03.2020, Companies Act, 2013 |
Click here |
| 6 |
NFRA issues Audit Quality Review Report of the Statutory Audit for FY 2017-18 of IL&FS Financial Services Limited |
Click here |
| 7 |
Amendment of item no. (ix) in the Schedule VII of the Companies Act, 2013 |
Click here |
| 8 |
Amendment of the Companies (CSR Policy) Rules, 2014 of the Companies Act, 2013 |
Click here |
| 9 |
The timeline for receiving the proposals for Research studies on Corporate Governance has expired. It will be informed when applications are being accepted again. |
Click here |
IBC / IBBI Updates {Insolvency and Bankruptcy Board of India}
Due to the emerging financial distress faced by most companies, it has been decided to raise the threshold of default under section 4 of the IBC 2016 to Rs 1 crore (from the existing threshold of Rs 1 lakh). This will by and large prevent the triggering of insolvency proceedings against MSMEs.
Important Notifications and Circulars Tracker
| Sl.
|
Notification(s) |
Link(s) |
| 1. |
IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
|
Click here |
| 2. |
IBBI amends the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 |
Click here |
| 3 |
Judgment dated 14th August, 2020 of the Hon’ble Supreme Court of India in the matter of Babulal Vardharji Gurjar Vs. Veer Gurjar Aluminium Industries Private Limited & Anr. |
Click here |
| 4 |
In the matter of Babulal Vardharji Gurjar Vs. Veer Gurjar Aluminium Industries Pvt. Ltd. & Anr., Civil Appeal No. 6347 of 2019 |
Click here |
| 5 |
In the matter of Univalue Projects Pvt. Ltd. vs. The Union of India & Ors. W. P. No. 5595 (W) of 2020 With C.A.N. 3347 of 2020 and others petitions |
Click here |
| 6 |
In the matter of RV Registration |
Click here |
| 7 |
In the matter of State Bank of India Vs. Anil Dhirajlal Ambani in IA No. 1009 of 2020 in CP(IB) 916 (MB) of 2020 & IA No. 1010 of 2020 in CP(IB) 917 (MB) of 2020 |
Click here |
| 8 |
In the matter of Mr. Rajneesh Singhvi, Insolvency Professional |
Click here |
| 9 |
Invitation of Public comments: Discussion Paper on Corporate Liquidation Process |
Click here |
| Sl. No. |
Particulars |
Link |
| 1 |
Constitution of Special Bench NCLT Kolkata from 24.8.2020 to 26.8.2020 |
Click here |
| 2 |
Constitution of Bench at NCLT Hyderabd on 28.8.2020 & 31.8.2020 |
Click here |
| 3 |
Corrigendum to advertisement issued vide O.M. No. 10/57/2016-NCLT (Pt.III) dated 17.08.2020 regarding Filling up various posts on deputation basis in NCLT |
Click Here |
| 4 |
Take notice that the matter listed on 25.08.2020 in the Court of Chairperson will not be taken up due to non-availability of the Bench. The next date of hearing will be notified later. |
Click Here |
| 5. |
Take notice that the matter adjourned on 17.08.2020 in the Court - II will be listed |
Click Here |
| 6. |
Filing of default record from Information Utility in petitions filed U/s 7 of IBC. |
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