{"id":599,"date":"2021-09-07T10:01:10","date_gmt":"2021-09-07T10:01:10","guid":{"rendered":"http:\/\/www.rnm.in\/blog\/?p=599"},"modified":"2025-01-30T10:55:43","modified_gmt":"2025-01-30T10:55:43","slug":"amendments-issued-by-mca-rbi","status":"publish","type":"post","link":"https:\/\/www.rnm.in\/blog\/amendments-issued-by-mca-rbi\/","title":{"rendered":"Amendments issued by MCA\ufeff & RBI"},"content":{"rendered":"\n

In this edition we have tried to bring to your notice the latest amendment that followed in the month of August, 2021 issued by MCA and RBI.<\/p>\n\n\n\n

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

Companies (Appointment and Qualification of Directors) Amendment Rules, 2021 <\/strong><\/p>\n\n\n\n

In exercise of the powers conferred by section 149\nread with section 469 of the Companies Act, 2013 (18 of 2013), the Central\nGovernment hereby makes the following rules further to amend the Companies\n(Appointment and Qualification of Directors) Rules, 2014, & These rules may\nbe called the Companies (Appointment and Qualification of Directors) Amendment\nRules,2021 & they shall come into force on the date of their publication in\nthe Official Gazette.<\/p>\n\n\n\n

The Amendment provides that an individual shall not be required to pass the online proficiency self-assessment test to be included in independent directors databank when he has served for a total period of not less than three years as on the date of inclusion of his name in the data bank in the pay scale of Director or equivalent or above in any Ministry or Department, of the Central Government or any State Government, and having experience in handling matters relating to commerce, corporate affairs, finance, industry or public enterprises; or the affairs related to Government companies or statutory corporations set up under an Act of Parliament or any State Act and carrying on commercial activities. It is further provided that an individual who are or have been, for at least ten years either as an advocate of a court or in practice as a chartered accountant or in practice as a cost accountant or in practice as a company secretary, shall not be required to pass the online proficiency self-assessment test. Read more: https:\/\/mca.gov.in\/bin\/ebook\/dms\/getdocument?doc=MzU0MTU=&docCategory=Notifications&type=open<\/a><\/p>\n\n\n\n

Companies (Creation and Maintenance of\ndatabank of Independent Directors) Second Amendment Rules, 2021.<\/strong><\/p>\n\n\n\n

In exercise of the powers conferred by section 150\nread with section 469 of the Companies Act, 2013 (18 of 2013), the Central\nGovernment hereby makes the following rules further to amend the Companies (Creation\nand Maintenance of databank of Independent Directors) Rules, 2019, & These\nrules may be called the Companies (Creation and Maintenance of databank of\nIndependent Directors) Second Amendment Rules, 2021 & they shall come into\nforce on the date of their publication in the Official Gazette.<\/p>\n\n\n\n

The institute shall within sixty days from the end of every financial year send an annual report to every individual whose name is included in the data bank and also to every company in which such individual is appointed as an independent director in the format provided in the Schedule to these Rules. The schedule consists of various entries namely Director\u2019s Name, DIN Number, IDDB Registration Number, Subscription (1 year or 5 year or Lifetime), Membership Validity, Online Self-Assessment Proficiency Test Status (N.A if exempted), Participation during the Financial Year, and Total Participation. Read more: https:\/\/www.mca.gov.in\/bin\/dms\/getdocument?mds=FQkrQysTnQxLA3y%252BNiOcdQ%253D%253D&type=open<\/a><\/p>\n\n\n\n

Special Court Notification under Section 435\nof the Companies Act,2013 <\/strong><\/p>\n\n\n\n

In exercise of the powers conferred by section 435 of\nthe Companies Act, 2013 (18 of 2013), the Central Government, with the\nconcurrence of the Chief Justice of the High Court of Jharkhand hereby\ndesignates the Court mentioned in column (2) of the Table below as Special\nCourt for the purpose of providing speedy trial of offences under clause (b) of\nsub-section (2) of section 435 of the said Act, namely:-<\/p>\n\n\n\n

SI. No. <\/td>Court <\/td>Jurisdiction as Special Court <\/td><\/tr>
(1) <\/td>(2) <\/td>(3) <\/td><\/tr>
1 <\/td>Court of Sub-Divisional Judicial Magistrate at Ranchi <\/td>State of Jharkhand. <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Read more: https:\/\/www.mca.gov.in\/bin\/dms\/getdocument?mds=%252BAD5OxLsNJTJMNmC9KYK4Q%253D%253D&type=open<\/a><\/p>\n\n\n\n

Companies (Registration of Foreign Companies)\nAmendment Rules, 2021<\/strong> <\/p>\n\n\n\n

In exercise of the powers conferred by clause (c) and clause (h) of sub-section (1) and sub-section (3) of section 380, clause (a) of sub-section (1) and sub-section (3) of section 381, section 385, clause (a) of section 386, section 389 and section 390, read with section 469 of the Companies Act, 2013 (18 of 2013), Central Government hereby makes the following rules to amend the Companies (Registration of Foreign Companies) Rules, 2014,& these rules may be called the Companies (Registration of Foreign Companies) Amendment Rules, 2021 & they shall come into force on the date of their publication in the Official Gazette. Read more: https:\/\/www.mca.gov.in\/bin\/dms\/getdocument?mds=eqdkd0Ws%252FDyhNwsupZJTCw%253D%253D&type=open<\/a><\/p>\n\n\n\n

Limited Liability Partnership (Amendment) Act,\n2021.<\/strong><\/p>\n\n\n\n

MCA has notified the\nLimited Liability Partnership (Amendment) Act, 2021 which shall come into force\non such date as the Central Government may, by notification in the Official\nGazette. Both houses of Parliament has approved LLP Amendment Bill, 2021.\nFinally, the same got the approval of President of India on 13th August, 2021\nand become LLP Amendment Act, 2021. The major Highlights are:<\/p>\n\n\n\n