Insights

Legal and Corporate Secretarial Updates

News from the desk of MCA, EPFO and MSME

July 10, 2021

News from the desk of Ministry of Corporate Affairs (MCA)

MCA DECIDES TO PROVIDE RELAXATION ON FILING FORMS RELATED TO CREATION OR MODIFICATION OF CHARGE

On receipt of numerous representations from the stakeholders concerning the difficulties faced by them on account of the threat posed by COVID-19, for the purpose of providing relaxation of timelines related to filing of certain forms for creation or modification of charges. Ministry of Corporate Affairs (‘MCA’) on 30th day of June 2021 issued a General Circular No. 12/2021 for providing extension for relaxation of time and condoning the delay in filing certain forms related to creation or modification of charges under the Companies Act, 2013.

Pursuant to the aforesaid general circular, period between April 01, 2021 to July 31, 2021 shall not be considered while counting the number of days for registration or modification or condonation of charges.

Earlier Ministry of Corporate Affairs (‘MCA’) on 03rd May, 2021 issued a General Circular No. 07/2021 (“original circular”) on the captioned subject providing relaxation of time and condoning the delay for filing certain forms related to creation or modification of charges under the Companies Act, 2013 for the period between April 01, 2021 to May 31, 2021.

Therefore, now with the issuance of General Circular No. 12/2021, period between April 01, 2021 to July 31, 2021 shall not be considered while counting the number of days for registration or modification or condonation of charges and all other requirements provided in the original circular shall remain unchanged

The complete text of the circular may be viewed at below link:

https://www.mca.gov.in/bin/dms/getdocument?mds=vqTLu4GNC8MKujYEiUpIEg%253D%253D&type=open

 

News from the desk of Ministry of Corporate Affairs (MCA)

MCA PROVIDES RELAXATION ON LEVY OF ADDITIONAL FEE IN FILING OF CERTAIN FORMS

On receipt of numerous representations from the stakeholders concerning the difficulties faced by them on account of the threat posed by COVID-19, Ministry of Corporate Affairs (‘MCA’) on 30th day of June 2021 had issued a General Circular No. 11/2021 on the captioned subject providing extension of timeline to the Companies/ LLPs to file forms under the Companies Act, 2013/ LLP Act, 2008 (other than form CHG-1, form CHG-4 & form CHG-9) which were/are due for filing during 01st April, 2021 to 31st July, 2021; without any additional fee till 31st August, 2021.

Earlier on 03rd day of May, 2021 MCA had issued a General Circular No. 06/2021 (“original circular”) on the captioned subject providing relaxation from the additional fee upto June 30, 2021 for filing of forms by Companies/ LLPs to file forms under the Companies Act, 2013/ LLP Act, 2008 (other than a CHG-1 form, CHG-4 form & CHG-9 form) which were/are due for filing during 1st April, 2021 to 31st May, 2021.

Therefore, with the General Circular No. 11/2021 additional fee for the forms which were/are due for filing during 1st April, 2021 to 31st July, 2021 has been waived off till 31st August, 2021 and all other requirements provided in the original circular shall remain unchanged.

The complete text of the circular may be viewed at below link:

https://www.mca.gov.in/bin/dms/getdocument?mds=oNl%252BU4n7x%252FntbDPEaxYULQ%253D%253D&type=open

 

News from the desk of Employee Provident Fund Organization (EPFO)

The Employee Provident Fund Organization (EPFO) vide their order dated 01st June, 2021 have decided the mandatory seeding of Aadhar number for filing ECR in accordance with section 142 of Code on Social Security w.e.f. 01st June 2021.

Now vide cicular dated 15th Jue 2021, the date have been extended from 01st June 2021 to 01st September 2021.

The complete text of the Circular may be viewed at below link:

https://www.epfindia.gov.in/site_docs/PDFs/Circulars/Y2021-2022/WSU_Aadhar_ECR_529.pdf

 

News from the Ministry of Micro, Small & Medium Enterprises (MSME)

The Ministry of Micro, Small & Medium Enterprises (“MSME”) passed an office memorandum on 02nd July, 2021 regarding inclusion of retail and wholesale trade.

In the captioned office memorandum, the ministry pursuant to receiving various representations has decided to include Retail and wholesale trades as MSMEs and they are allowed to be registered on Udyam Registration Portal. However, benefits to Retail and Wholesale trade MSMEs are to be restricted to Priority Sector Lending only.

Accordingly, the list of eligible additional activities under NIC Code 45, 46 and 47 are as under:

45 Wholesale and retail trade and repair of motor vehicle and motorcycles

46 Wholesale trade except of motor vehicles and motor cycles

47 Retail Trade Except of Motor Vehicles and motor cycles

The Udyam Registration is allowed for above three NIC Codes and activities mentioned against them. The Enterprises having Udyog Aadhaar Memorandum (UAM) under above three NIC Codes are now allowed to migrate to Udyam Registration Portal or they can file Udyam Registration afresh.

Earlier the Ministry has released an office memorandum no. UAM/MC/01/2017-SME dated 27.06.2017 on the subject 'Activities (NIC codes) not covered under MSMED Act, 2006 for registration of Udyog Aadhaar Memorandum (UAM)' excluded certain activities from registration on UAM Portal. This office memorandum was further validated for Udyam Registration vide office memorandum no. 5/2(1)/2020-P&G/Policy dated 17.07.2020. Certain changes were made vide 5/2(1)/2020/E-P&G/Policy dated 01.12.2020; where it was clarified that in Table 1 of office memorandum no. UAM/MC/01/2017-SME dated 27.06.2017, NIC codes 45, 46 and 47 and the activities mentioned against these NIC codes, are not permitted for registration in Udyam Registration Portal (https:lludyamregistration.gov.in).

The complete text of the office memorandum may be viewed at below link:

http://dcmsme.gov.in/OM%20%20regarding%20%20inclusion%20of%20Traders.pdf

Last updated: 10/07/2021

Article contributed by:

Munesh Gaur

Senior Associate- Legal

MBG Corporate Services

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