Hello Members, Greetings of the day..!!

Trust you’re enjoying our write-ups. Enjoy the latest write-up – NEWS & IMPORTANT UPDATES – MCA – 05.01.2018.

  • MCA21 system will be intermittently unavailable from Saturday, 6th Jan 2018   08.00 am to Saturday, 6th Jan 2018  6.00 pm IST due to maintenance activity. Stakeholders are requested to plan accordingly.
  • MCA is proactively designing a Front Office service (replacing INC-1 eform with Web-Form) for Name Reservation and Change of Name for companies capturing only absolutely essential information from the applicants. The said service is likely to be rolled out on 26th January 2018. Stakeholders may kindly note that INC-1 would be deprecated from the date of roll out of the FO service.
  • It is proposed to re-engineer the process of allotment of DIN by allotting DIN to individuals only at the time of their appointment as Directors (If they do NOT possess a DIN) in companies. DIR-3 (Application for Director Identification Number) would be applicable for the allotment of DIN to individuals in respect of existing companies only and shall be filed by the existing company in which the proposed Director is to be appointed. Further, DINs to the proposed first Directors in respect of new companies would be mandatory required to be applied for in SPICe forms (subject to a ceiling of 3 new DINs) only. It is also proposed to modify DIR-3 to permit allotment of upto 2 new DINs (since SPICe provides for upto 3 new DINs) only in respect of ‘Producer Companies’. A separate notification would be issued for the same and stakeholders may plan accordingly.
  • To facilitate corresponding changes in LLP eforms due to deprecation of DIR-3, it is proposed to temporarily suspend issuance of allotment of new DINs for Designated Partners/Partners of LLPs w.e.f 26th January 2018 till 31st March 2018. Stakeholders may kindly take note and plan accordingly.
  • It is proposed to mandate SPICe (with necessary provision for incorporating Producer Companies) as the only form for incorporation of companies w.e.f. 26th January, 2018. Accordingly, INC-7 would be deprecated for incorporation of companies. A detailed notification and FAQs relating thereto would be made available as and when the same is notified. Stakeholders may kindly take note and plan accordingly.
  • Stakeholders of Condonation of Delay Scheme (notified vide General Circular No.16/2017 dated 29th December 2017) may kindly note that the process for ‘reactivating’ the DINs in system in respect of disqualified Directors is in progress and they may check the status of the relevant DINs by 12th January 2018. However, they are requested to be ready with necessary ‘overdue documents’ for filing purposes. Stakeholders may further note that the scheme is not applicable for those Directors who may have been associated with a company which was struck off under Section 248(1) of the Companies Act-2013 and such DINs shall be activated only upon receipt of orders for revival of the said company as per due process laid down under Section 252 of the Companies Act-2013.
  • New version of XBRL Validation Tool with IND-AS taxonomy related changes will be available for Beta Testing shortly. Software Vendors are requested to incorporate the required changes in their tagging tools accordingly.IND-AS Taxonomy and Business Rules are available on XBRL portal.