RULES OF LAW

In exercise of the powers conferred under the proviso to clause (d) of sub-section (2) of section 68 of the Companies Act, 2013, the Central Government has notified via order dated 10th March,2106 that the debt to capital and free reserves ratio shall be 6:1 for government companies within the meaning of clause (45) of section 2 of the Companies Act, 2013 which carry on Non-Banking Finance Institution activities and Housing Finance activities.

Central Government has amended rule 17 of Companies (Share Capital and Debentures) Rules, 2014 via notification dated 10th March, 2016 and inserted following proviso in rule 17, in sub-rule (1), in clause (n), after sub-clause (iii): "Provided that where the audited accounts are more than six months old, the calculations with reference to buy back shall be on the basis of un-audited accounts not older than six months from the date of offer document which are subjected to limited review by the auditors of the company". http://www.mca.gov.in/Ministry/pdf/Notification_11032016.pdf  

Central government w.e.f 26.01.2016 has amended rule 8, rule 9 and rule 36 of Companies (Incorporation) Rules, 2014 and substituted the existing eform INC-1 with new eForm INC-1. http://mca.gov.in/Ministry/pdf/Amendement_Rules_22012016.pdf

MCA has issued circular dated 15th January, 2016 to clarify Hindu Undivided Family ( HUF)/its Karta cannot become Partner/ Designated Partner in LLP. As per Section 5 of LLP act, 2008 only an individual or Body Corporate may be a partner in the LLP and HUF cannot be treated as a Body Corporate for the purpose of LLP Act, 2008. http://www.mca.gov.in/Ministry/pdf/General_Circular_2_2016.pdf

Ministry of Corporate Affairs has issued notification dated 13th January, 2016 to enforce sub-section (5), sub-section (6) (except with respect to the manner of administration of the Investor Education and Protection Fund) and sub-section (7) of section 125 of the Companies Act, 2013 w.e.f 13th January, 2016. http://www.mca.gov.in/Ministry/pdf/Commencement_Section125_Notification_13012016.pdf  

Ministry of Corporate Affairs has issued Circular No. 01/2016 dated 12th January, 2016 to Clarify some Frequently Asked Questions on Corporate Social Responsibility under Section 135 of Companies Act, 2013. http://www.mca.gov.in/Ministry/pdf/FAQ_CSR.pdf

http://www.sebi.gov.in/cms/sebi_data/attachdocs/1453201291889.pdf