Applicability of the Companies Act, 2013. Which covers the questions like where and whom to applicable?

In simplified language, The Companies Act, 2013 is applicable to India. 

 

There is certain question comes to mind that which type of companies are covered in The Companies Act, 2013.

Those companies already registered in previous companies’ law The Companies Act, 1956. Companies are covered under the company’s acts are:

  1. Insurance Companies
  2. Banking Companies
  3. Companies like generation or supply of electricity

 

There is certain exception given to above companies if they are registered under certain acts respectively Insurance Act, 1938 or Insurance Regulatory Development Authority Act, 1999, Banking Regulation Act, 1949 and Electricity Act, 2003.

Companies Act, 2013 applicability tried to explain in simple language above but more specifically and precisely as mentioned below.

 

Section 1, as per the Companies Act, 2013

 

1.  (1) This Act may be called the Companies Act, 2013.

(2) It extends to the whole of India.

(3) This section shall come into force at once and the remaining provisions of this Act shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

(4) The provisions of this Act shall apply to—

(a) companies incorporated under this Act or under any previous company law;

(b) insurance companies, except in so far as the said provisions are inconsistent with the provisions of the Insurance Act, 1938 (4 of 1938) or the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);

(c) banking companies, except in so far as the said provisions are inconsistent with the provisions of the Banking Regulation Act, 1949 (10 of 1949);

(d) companies engaged in the generation or supply of electricity, except in so far as the said provisions are inconsistent with the provisions of the Electricity Act, 2003 (36 of 2003);

(e) any other company governed by any special Act for the time being in force, except in so far as the said provisions are inconsistent with the provisions of such special Act; and

(f) such body corporate, incorporated by any Act for the time being in force, as the Central Government may, by notification, specify in this behalf, subject to such exceptions, modifications or adaptation, as may be specified in the notification.


ln continuation to General Circular No. 1112020 dated 24th March 2020 and keeping in view the requests received from various stakeholders seeking extension of time for compliance of the subject requirements on account of covid-19, it has been decided to further extend the time in respect of matters referred to in paras V , Vl of the aforesaid circular, from 30th June 2020 to 30th September 2O20. All other requirements shall remain unchanged.

2. This issues with the approval of the competent authority

 

Credit: MCA

Source: Circular24_20062020


The companies are required to file forms related to creation or modification of charges within the timelines provided in section 77 of the Companies Act, 2O 13 (Act), i.e. a total o[ 120 days of the creation or modification of charge. In case, the company fails to register the charge within the period of thirty days referred to in sub-section ( 1) of section 77 , the charge holder may file the form related to creation or modification of charges under section 78 of the Act, within the overall timelines for filing of such form under section 77.

2. On account of the pandemic caused by the COVID-19, representations have been received in this Ministry, requesting that the timelines related to filing of certain charge related forms may be suitably relaxed so as to provide a window of compliance for the registration of charges. Under the Companies Fresh Start Scheme, 2O2O as laid out in the General Circular No. 12 / 2O2O, dated 3O.O3.2O2O, the benefit of waiver of additional fees was not extended to the charge related documents. Therefore, it has been suggested that some dispensation may be provided for filing of charge related documents as well.

3. In view of the above, the Central Government in exercise of its powers under section 460 read with section 4O3 of the Act and the Companies (Registration Offices and Fees) Rules, 2014 (Fees Rules) has decided to introduce a Scheme, namely “Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013” for the purpose of condoning the delay in filing certain forms related to creation/ modification of charges.

4. The details of the scheme are as under: –
(i) The scheme shall come into effect from the date of issue of this Circular.

(ii) Applicability:

The scheme shall be applicable in respect of filing of Form No. CHG-l and Form No. CHG-9 (both referred as (‘form’ or ‘forms’) by a company or a charge holder, where the date of creation / modification of charge:
(a) is before O1.03.2020, but the timeline for filing such form had not expired under section 77 of the Act as on O1.03.2020, or
(b) falls on any date between 01.O3.2O2O to 3O.O9.2O2O (both dates inclusive).

(iii) Relaxation of time:

(a) In case a form is filed in respect of a situation covered under sub-para (ii)(a) above, the period beginning from 01.03.2020 and ending on
3O.O9.2O2O shall not be reckoned for the purpose of counting the number of days under section 77 or section 78 of the Act. In case, the form is not filed within such period, the first day after 29.O2.2O2O shall be reckoned as 01.10.2020 for the purpose of counting the number of days within which the form is required to be filed under section 77 or section 78 of the Act.

(b) In case a form is filed in respect of a situation covered under sub-para (ii)(b) above, the period beginning from the date of creation/ modification of charge to 30.09.2020 shall not be reckoned for the purpose of counting of days under section 77 or section 78 of the Act. In case, the form is not filed within such period, the first day after the date of creation / modification of charge shall be reckoned as 01.10.2020 for the purpose of counting the number of days within which the form is required to be filed under section 77 or section 78 of the Act.

(iv) Applicable Fees:

(a) In regard to sub-para (iii)(a) above, if the form is filed on or before 3O.O9.2O2O, the fees payable as on 29.02.2020 under the Fees Rules for the said form shall be charged. If the form is filed thereafter, the applicable fees shall be charged under the Fees Rules after adding the number of days beginning from 01 . 10.2O2O and, ending on the date of filing plus the time period lapsed from the date of the creation of charge till29.O2.2O2O.

(b) In regard to sub-para (iii)(b) above, if the form is filed before 30.09.2020, normal fees shall be payable under the Fees Rules. If the form is filed thereafter, the first day after the date of creation/modification of charge shall be reckoned as 01.10.2020 and the number of days till the date of filing of the form shall be counted accordingly for the purposes of payment of fees under the Fees Rules.

(v) The Scheme shall not apply, in case:

(a) The forms i.e.CHG-1 and CHG-9 had already been filed before the date of issue of this Circular.
(b) The timeline for filing the form has already expired under section 77 or section 78 of the Act prior to 01.03.2O2O.
(c) The timeline for filing the form expires at a future date, despite exclusion of the time provided in sub-para (iii) above.
(d) Filing of Form CHG-4 for satisfaction of charges.

5. This issues with the approval of the Competent Authority

 

Credit: MCA

Source: Circular23_17062020


  1. The Ministry of Corporate Affairs has received several representations regarding extension of the last date of filing of Form NFRA-2, which is required to be filed under rule 5 of the National Financial Reporting Authority Rules, 2018.

  2. The matter has been examined and it is stated that the time limit for filing Form NFRA-2 will be 90 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA).

  3. This issues with the approval of Competent Authority.

 

 

http://mca.gov.in/Ministry/pdf/NFRA_27112019.pdf


Relaxation of additional fees and extension of last date of filing of Form BEN-2 under companies Act, 2013.

1. The Ministry of Corporate Affairs has received representations regarding extension of the last date {or filing of e-Form BEN-2 without additional fees on account of certain new aspects which require further examination and clarification. The matter has been examined and it is hereby informed that the time limit for filing e-form No. BEN-2 is extended up to 31.12.2019 without payment of additional fee and thereafter fee and additional fee shall be payable. Consequent to the extension in the date of filing of e-Form BEN-2, the date of filing of Form BEN-1 may be construed accordingly.

2. This issues with approval of the competent authority.


  The Ministry of Corporate Affairs has received representations from stakeholders expressing certain difficulties in filing e-form DIR-3 KYC in accordance with Rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014. Requests have also been made for extension of period for filing such form.

The matter has been examined and it is hereby informed that it is being proposed that every person who has already filed DIR-3 KYC will only be required to complete his/her KYC through a simple web-based verification service, with pre-filled data based on the records in the registry, for ease of verification by the person concerned. However, in case a person wishes to update his mobile no. or e-mail address, he would be required to file e-form DIR-3 KYC, as this facility of updation is not being proposed in the web-based service. In case of updation in any other personal detail, e-form DIR-6 may be filed for updation of the same before completion of KYC through the web-based service.

The amendment in the relevant rules including the amendment related to extension of time (allowing for adequate time) for completion of KYC through e-form DIR-3 KYC or the web-based service, as the case may be, is being notified shortly. Stakeholders are advised to take note of the same and file according to the revised notification.

 This issues with approval of the competent authority.


G.S.R. 411(E).—In exercise of the powers conferred by 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 (Incorporation) Rules, 2014, namely:—
1. Short title and Commencement.—(1) These rules may be called the Companies (Incorporation) Sixth
Amendment Rules, 2019.
(2) They shall come into force with effect from 15th August, 2019.
2. In the Companies (Incorporation) Rules, 2014 (herein after referred to as the said rules), in rule 19,—
(i) in sub-rule (1), for the words, letters and figures “Form No.INC.12”, the words, letters and figures “Form INC-32
(SPICe)” shall be substituted.
(ii) in sub-rule (3),

(a) in clause (a), for the words “the draft memorandum”, the words “the memorandum” shall be substituted;
(b) in clause (b), for the words “the draft memorandum”, the words “the memorandum” shall be substituted;
3. In the Annexure to the said rules,—
(i) in Form no.INC-11, in the heading, after the words and figures “sub-section (2) of section 7”, the words and figures
“and sub-section (1) of section 8” shall be inserted.
(ii) For “Form No.INC-12”, the following Form shall be substituted,

(iii) in Form No.INC-32 (SPICe form),—
(a) in the heading , for the words and figures “Pursuant to sections 4, 7, 12, 152 and 153”, the words, figures and brackets
“pursuant to sections 4, 8(1), 7, 12, 152 and 153” shall be substituted;
(b) in serial number 1, item “(g) Section 8 license number” shall be omitted.
(c) in attachments, after item no.19, the following item shall be inserted.
“20. Declaration in Form No.INC-14;
21. Declaration in Form No.INC-15;
22. Optional attachment(s), (if any).”.

Source of Information : www.mca.gov.in