Strict Filing of Annual Returns - Otherwise status change to dormant from active - no more filings up to filing of those forms

MCA Press Release

Implementation of enhanced Regulatory framework on Annual statutory filings

All Companies which have not filed their statutory annual filings for
both form 20B and 23AC/23ACA since 2006 i.e. 2006-2007, 2007-2008 and
2008 -2009 (i.e. has not done any of the six required filings) will
not be allowed to file any other e-form with Ministry unless and until
all such pending documents are filed. The status of such companies
would be changed to “Dormant “. Each such company having the status
as Dormant will have to file an application for normalising in
eform-61 and once e-form 61 is approved by respective Registrar of
Company, the company will be given a stipulated period of 21 days for
filing all the due balance sheets and annual returns from the date of
approval of form61.If all the due document s are not filed within
this period, the company’s status will again be reverted to “Dormant”
and will have to follow the process of filing form 61 once again.

Compulsory Attendance of Professional Development Programmes by the Members

ATTENTION MEMBERS !

Compulsory Attendance of Professional Development Programmes by the Members

The Council of the Institute at its 200^th Meeting held on March 18, 2011 at New Delhi amended the Guidelines for Compulsory Attendance of Professional Development Programmes by the Members to provide as under:

	Next block of three years	April 01, 2011 to March 31, 2014
	Min. number of Programme Credit Hours (PCH) to be acquired by Members in Practice	15 PCH in each year or 50 PCH in a block of three years w.e.f April 01, 2011
	Min. number of PCH to be acquired by Members in Employment (i.e. members in whose name Form 32 has been filed to work as Company Secretary under the provisions of Sec. 383A of the Companies Act, 1956)	10 PCH in each year or 35 PCH in a block of three years w.e.f April 01, 2011
	Min. number of PCH to be acquired by Members above the age of 60 years	Presently the members of the age of 65 years are not required to obtain PCH. This age limit stands reduced to 60 years and the members above the age of 60 years shall be required to obtain 50% of the PCH required to be obtained by the members below 60 years w.e.f April 01, 2011.
	Members failing to obtain the mandatory PCH upto March 31, 2011	Provided with a shortfall upto 10 PCH and required to compensate by obtaining atleast 5 additional PCH on pro rata basis in the first year of the next block of three years commencing from April 01, 2011.
	Members who have not obtained any PCH during the block ending on March 31, 2011	Members seeking renewal of CoP to provide an explanation for non compliance with the Guidelines – to be decided on case to case basis.
	Carry forward of the excess PCH if the member has already completed the mandatory PCH upto December 31, 2010 and continued to attend Professional Development Programmes during January – March, 2011	The Guidelines for Compulsory Attendance of Professional Development Programmes by the Members do not provide for carry forward of PCH from one block of three years to the other. If any member had obtained the mandatory PCH upto December 31, 2010 and continued to attend Professional Development Programmes during January – March, 2011, then in such case the PCH obtained by such member during January – March, 2011 would be treated as having been obtained in the first year of the next block commencing from April 01, 2011.

Recent News

1.MCA issued circuler Reg.prosecution of director.

2.MCA issued notification for effective date for revised schedule VI

3.ICSI issued notification for revised credit hours memebers

4.Form 2 has been revised.

5.New DIN rules notified from 27 th onwards.

6.Challan payment discontinued from 27th onwards, only online payment up to 50,000.

7.Form 61 has been revised.

Thanks and Regards

VIJAY KUMAR SAJJAN

HOW TO WORK UNDER PRESSURE

New DIN rules notified today - instant approval

see 26 the march notification No more physical submission of documents. Instant approval if professionals digitally signed.

Hi friends, please keep in contact with all of our msop friends. Take care.... wish you all ,the prosperous future .

Lost Generation Poem

Hi All.... Prathyusha suggested that i post this poem on the blog.

hi all

i am very happy to be part of this 4th msop. we had a great time there for fifteen days. friends be in touch n update about ur prosperity in life time to time.

thanks and regards,

archana kulkarni

Introduction of Annual return on Foreign Liabilities and Assets reporting by Indian Companies and discontinuation of the Part B of Form FC-GPR

Introduction of Annual return on Foreign Liabilities and Assets>> reporting by Indian Companies and>> discontinuation of the Part B of Form FC-GPR:>>>> Many of you are aware that as per present FDI Regulations, the Indian>> Company which receives FDI both under the>> automatic and approval route needs to report to the Reserve Bank of>> India (RBI) through authorized dealer in Part A>> of Form FC-GPR at the time of investment. Similarly, the Companies>> need to file Part B of Form FC-GPR annually on>> or before 30th June of every year to RBI directly (Annual Reporting).>> In order to capture the statistics relating to Foreign Direct>> Investment (FDI), both inward and outward in a more>> comprehensive manner as also to align it with international best>> practices, vide AP DIR Circular No.45 dated 15th>> March 2011, it has been decided to replace Part B of the Form FC-GPR>> by a separate ‘Annual Return on Foreign>> Liabilities and Assets.>> The return should be submitted by July 15 of every year to the>> Director, Balance of Payment Statistics Division,>> Department of Statistics and Information Management (DSIM), Reserve>> Bank of India, C-9, 8th floor, Bandra Kurla>> Complex, Bandra (E), Mumbai - 400 051. Further, the return should be>> submitted by all the Indian companies which>> have received FDI and/or made FDI abroad (i.e. overseas investment) in>> the previous year(s) including the current>> year.

Mah Satyam writes to fin min to review Rs 617cr tax claim

Technology major Mahindra Satyam has written to the finance ministry against the demand notice sent by the Income Tax (I-T) department, reports CNBC-TV18's Kritika Saxena quoting sources close to the development. The company wants the ministry to review tax claims of Rs 617 crore and seeks stay under Section 119 of I-T Act, 1961.
Mahindra Satyam, however, has not received any response yet. The company is planning to approach the Ministry of Corporate Affairs to get the issue resolved.
The Mahindra-group company said the Central Board of Direct Taxes rejected various petitions it filed seeking reliefs for re-opening of past assessments for 2003-04 to 2008-09, determining the actual income based on the findings of investigating agencies, and granting stay of recovery proceedings for the said assessment years.
The company, in fact, is expecting to get a refund around Rs 300 crore. Sources also say that the case hearing is scheduled in the Andhra Pradesh court on March 25th.
Meanwhile, Dennis Nally, Chairman of PwC International has said that he is actively engaged in talks with regulators on Satyam. "We have a real desire to work with the regulators in a constructive way and we would want to arrive at fair and equitable conclusion," he added.
Mahindra Satyam shares were trading down at 0.30%.

Hi All,

"The great thing a little LAMP can do ,Which the big SUN can not do is ,It gives LIGHT at night.SO,No one is Superior by Size,but by PURPOSE.........."

Photos...

Those who have captured Photos/Videos upload the same in the blog..

Just a Step...

I hope every one liked the cards...
Its just a step to keep all in touch with...

Thanks

Deal All

Thanks you so much for support and motivation, voting and selecting me as best participant.

I am very much obliged to you all.

Friends be in touch, if any help from myside, let me know,ready at all times.

MSOP Speakers and Participants Presentations

Hi Swaroop,

Can you please share / upload speaker ppt's, also we can share our project reports / ppt for benefit of everyone.

Tks......

Recent amendments under Companies Act

Recent amendments under Companies Act

1.Sec.269 r/w Scheduele XIII exempts the private company and unlisted public company.Only listed company and subsidiary of listed company has to comply.

2.The sec.25 a power now vested with ROC, earstwhile with RD.

3.The sec.212 exempts attaching statement in relation to subsidiary company by complying certain conditions.Listed companies has to comply as per AS 21.

4.The The internet payment is mandatory from 27th march up to 50,000.Over and above 50,000, cash challan is accepted.However, from 1st october 2011 onwards, every paymeny must be online.cno cash payment at all.

5.The companies Name rules 2011 announced wherein professionals can approve the name by affixing the his/her DSC.
6.The DIN can be approved by the professionals by affixing his/her DSC as per new DIN rules.
7.The revised schedule VI has been announced, however effective yet to notify.
8.The IND-AS has been announced which is yet to notify.
9.ROC Karnataka issuing Sec.560(5) notice for gezette notification for EES 2010 scheme.
10.Payment to non WTD by way of commission does not require a CG approval if within the 1% or 3% of NP as the case may be.
11.There is Schedule VI relaxation in respect of certain prescribed companies.

Journey to membership

Day 1- Vision towards profession and development by J Sundaresan PCS
Secretarial Audit and Compliance certificate by M R Gopinath PCS

Day 2- Mergers and Acquisitions by Satish Menon PCS
Labour Laws and Industrial Relations by S Ravishankar PCS

Day 3- Appearance before CLB, Winding up, Compounding of offences by V Shreedharan PCS
Listing Compliances and ESOP by Vinay M A Assitant Company Secretary Subex systems

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