In two letters both dated 23rd August, 2018, addressed to the Ministry of Corporate Affairs (“MCA”), the Institute of Company Secretaries of India (“ICSI”) has taken an initiative to compile some of the practical issues faced by the stakeholders (companies) at the time of complying with the recent changes made to the provisions in the Companies Act, 2013 (“Act”) and all the Rules governed by it.
Along with listing down the issues, ICSI has also recommended possible solutions to solve for these issues in the best interest of compliance and spirit of law.
These letters majorly cover for the following issues:
- Name Availability- Bringing rejection to minimal
- Revision in RUN e-form
- Expanding the period of name reservation
- Surrender of Director Identification, Number (DIN) and DIR-5
- Extension request for filing of E-form DIR 3 KYC for the DIN allotted on or before 31st March –
- Newspaper advertisement for shifting of registered office of companies
- Companies (Significant Beneficial Owners) Rules, 2018 and compliance
- Request for allowing the KMP to file his resignation to Registrar
- Removal of name of Companies from Register of Companies u/s 248 – Reg.
- Difficulties in Incorporation Process
- Incorporation of a company with more number of subscribers
- Practical difficulties relating to E-form DIR 3 KYC
- Director Identification Number- easy availability
- Commencement of process of KYC for companies
Source: The Institute of Company Secretaries
