{"id":411,"date":"2021-01-06T10:07:05","date_gmt":"2021-01-06T10:07:05","guid":{"rendered":"http:\/\/www.rnm.in\/blog\/?p=411"},"modified":"2025-01-30T10:55:44","modified_gmt":"2025-01-30T10:55:44","slug":"recent-amendments-by-mca-rbi-december-2020","status":"publish","type":"post","link":"https:\/\/www.rnm.in\/blog\/recent-amendments-by-mca-rbi-december-2020\/","title":{"rendered":"Recent Amendments by MCA & RBI"},"content":{"rendered":"\n

In this edition we have tried to bring to your notice the latest amendments that followed in the month of December, 2020 issued by MCA and RBI.<\/p>\n\n\n\n

Amendments\nissued by MCA<\/strong><\/h3>\n\n\n\n

Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020<\/strong>
MCA has amended the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 through Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020. Read More: http:\/\/www.mca.gov.in\/Ministry\/pdf\/SecondAmdtRules_18122020.pdf<\/a> <\/p>\n\n\n\n

Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2020<\/strong>
MCA has notified the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2020, which shall come into force on the date of their publication in the Official Gazette i.e 18-12-2020. Read More: http:\/\/www.mca.gov.in\/Ministry\/pdf\/FifthAmdtRules_18122020.pdf<\/a> <\/p>\n\n\n\n

Companies (Auditor\u2019s Report) Second Amendment Order, 2020 <\/strong>
MCA has notified the 01.04.2021 a new date for CARO, 2020 applicability thru Companies (Auditor\u2019s Report) Second Amendment Order, 2020 . Read More: http:\/\/www.mca.gov.in\/Ministry\/pdf\/CompaniesSecondAmdtOrder_22122020.pdf<\/a> <\/p>\n\n\n\n

Companies (Amendment) Act, 2020<\/strong>
MCA has notified the dates as 21-12-2020 as the date from which certain provisions as amended by the Companies (Amendment) Act, 2020 shall come into force.  Read More: http:\/\/www.mca.gov.in\/Ministry\/pdf\/CommencementNotification_22122020.pdf<\/a> <\/p>\n\n\n\n

Companies (Incorporation) Third Amendment Rules, 2020<\/strong>
MCA has vide Companies (Incorporation) Third Amendment Rules, 2020 notified Rule 9A Extension of reservation of name in certain cases. Under the rule Registrar shall extend the period of a name reserved under rule 9 up to 60 days on Payment of Fees which will be effective from 26th<\/sup> January, 2021.<\/strong> Read More: http:\/\/www.mca.gov.in\/Ministry\/pdf\/ThirdAmdtRules_24122020.pdf<\/a> <\/p>\n\n\n\n

Amendments issued by RBI<\/strong><\/strong><\/h3>\n\n\n\n

24×7 Availability of Real Time Gross Settlement (RTGS) System<\/strong>
A reference is invited to the Statement on Developmental and Regulatory Policies dated October 09, 2020 wherein Reserve Bank of India (RBI) had announced making available the Real Time Gross Settlement (RTGS) system round the clock on all days. Accordingly, it has been decided to make RTGS available round the clock on all days of the year with effect from 00:30 hours on December 14, 2020. Read More: https:\/\/www.rbi.org.in\/Scripts\/NotificationUser.aspx?Id=11998&Mode=0<\/a> <\/p>\n\n\n\n

External Trade \u2013 Facilitation – Export of Goods and Services<\/strong>
With reference to the Statement on Development and Regulatory Polices announced as part of Bi-monthly Monetary Policy Statement dated 4 Dec, 2020. With a view to further enhance the ease of doing business and quicken the approval process, it has been decided to delegate more powers to the Authorized Dealer Category \u2013 I banks (AD banks) with regard to Direct Dispatch of Shipping Documents, \u201cWrite-off\u201d of unrealized Export bills, Set-off of Export receivables against Import payables and  Refund of Export Proceeds. Read More: https:\/\/www.rbi.org.in\/Scripts\/NotificationUser.aspx?Id=12005&Mode=0<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

In this edition we have tried to bring to your notice the latest amendments that followed in the month of December, 2020 issued by MCA and RBI. Amendments issued by MCA Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020 MCA has amended the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 through Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, […]<\/p>\n","protected":false},"author":3,"featured_media":412,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[26,14],"tags":[120,69,27,86],"class_list":["post-411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-legal","category-general","tag-companies-amendment-act-2020","tag-mca","tag-ministry-of-corporate-affairs","tag-rbi"],"yoast_head":"\nLatest Amendments by MCA and RBI in December 2020<\/title>\n<meta name=\"description\" content=\"The Ministry of Corporate Affairs (MCA) and the Reserve Bank of India (RBI) issued a 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