{"id":15903,"date":"2020-09-06T11:30:56","date_gmt":"2020-09-06T06:00:56","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=15903"},"modified":"2020-09-05T16:41:13","modified_gmt":"2020-09-05T11:11:13","slug":"mca-amendment-in-companies-management-and-administration-rules","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/mca-amendment-in-companies-management-and-administration-rules\/","title":{"rendered":"MCA amendment in Companies (Management and Administration) Rules"},"content":{"rendered":"\n<p class=\"has-drop-cap\">MCA has amended the Companies (Management and Administration) Rules, 2014, while exercising its powers conferred under <strong>section 92<\/strong> sub-section (3), read with <strong>section 469<\/strong> sub-sections (1) and (2) of the Companies Act, 2013. The Central Government hereby makes the rules which are called as <strong><em>Companies (Management and Administration) Amendment Rules, 2020. <\/em><\/strong>They will come in force on the date of publication in the Official Gazette. <strong><em>The amendment came into force from 28 August 2020.<\/em><\/strong><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/mca-amendment-in-companies-management-and-administration-rules\/#Highlights_of_Amendment\" >Highlights of\nAmendment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/mca-amendment-in-companies-management-and-administration-rules\/#New_Amendment_Companies_does_not_require_to_attach_the_Extract_of_Annual_return\" >New Amendment: Companies does not require to attach the Extract of Annual\nreturn<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/mca-amendment-in-companies-management-and-administration-rules\/#MCA_Notified_To_Display_Companies_Annual_Return_on_website\" >MCA Notified To Display Companies Annual Return on website<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/mca-amendment-in-companies-management-and-administration-rules\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Highlights_of_Amendment\"><\/span>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHighlights of\nAmendment\n\n\n\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"580\" height=\"354\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-25.png\" alt=\" Highlights of Amendment \" class=\"wp-image-15904\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-25.png 580w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-25-300x183.png 300w\" sizes=\"(max-width: 580px) 100vw, 580px\" \/><\/figure><\/div>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/update-on-41st-gst-council-meeting\/\">Update on 41st GST Council Meeting<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"New_Amendment_Companies_does_not_require_to_attach_the_Extract_of_Annual_return\"><\/span>New Amendment: Companies does not require to attach the Extract of Annual\nreturn<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Ministry of Corporate Affairs notified Companies Management,\nand Administration Amendment Rules 2020; it stated that the <strong><em>company\nis no longer required to attach extract of the Annual Return<\/em><\/strong>. The rules\nseek to amend the Companies Management and Administration Rules 2014. In\nCompanies (Management and Administration) Rules, 2014, in rule 12, in sub-rule\n(1), the proviso will be inserted, as follows:-<\/p>\n\n\n\n<ul><li>Provided that the company is now not be required\nto attach the extract of an annual return with a Board\u2019s report in Form No.\nMGT.9. In such a case, the web link of annual return has been disclosed in the\nBoard&#8217;s report, and it must be in accordance with section 92, sub-section (3) of\nthe Companies Act, 2013.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">No need to Attach the MGT-9 with Directors Report<\/h3>\n\n\n\n<p><strong><em>According to section 134<\/em><\/strong> of the Companies Act, the statements have to be attached, laid before the company in a <a href=\"https:\/\/corpbiz.io\/learning\/annual-general-meeting\/\"><strong>general meeting<\/strong><\/a>, which is a report by its Board of Directors. It must include &#8220;the extract of an annual return\u201d as given under sub-section (3) of section 92.&nbsp; <\/p>\n\n\n\n<p><strong><em>According to section 92 sub-section (3)<\/em><\/strong> of the Companies Act, 2013, every company has to place a copy of the <a href=\"https:\/\/corpbiz.io\/learning\/procedure-of-filing-annual-return\/\"><strong>annual return<\/strong><\/a> on a website of a company, if any. The web-link of such annual return will be disclosed in the Board\u2019s report. <\/p>\n\n\n\n<p><strong><em>Whereas now MCA vide notification dated<\/em><\/strong> <strong>28 August 2020<\/strong> has notified that the Extract of an Annual Return in\nForm MGT 9 is not needed to be enclosed with the Board Report. The company is\nonly required to disclose a web link in the Board Report where an annual return\nmentioned in sub-section (3) of section 92 is placed for the Financial Year &#8211;\nended 31 March 2020 &amp; onwards.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MCA_Notified_To_Display_Companies_Annual_Return_on_website\"><\/span>MCA Notified To Display Companies Annual Return on website<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>MCA has notified the provision for the display of company&#8217;s\nannual return on the website while exercising its powers conferred by <strong><em>sub-section\n2 of section 1<\/em><\/strong> of the Companies (Amendment Act 2017 (1 of 2018). <\/p>\n\n\n\n<p>The <strong><em>central government<\/em><\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Central_government\"><strong><em>[1]<\/em><\/strong><\/a><\/sup> hereby appoints the date- 28 August 2020 on which the provision of <strong><em>section 23, clause (ii) of <\/em><\/strong>the said Act, will come into force. It states that every company must place a copy of the Annual Return on the website of the company if any, and the web link of such annual return are to be disclosed in the Board\u2019s Report. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p> In understanding of the above stated latest notification, companies are no longer burdened with to attach extract of an Annual Return along with the Board&#8217;s report in Form No. MGT.9. All are required to file a copy of the Annual Return on the website of a company, and a web link of such annual return must be disclosed in the Board&#8217;s Report. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/threshold-limit-under-companies-act-2013\/\">Threshold Limit Under Companies Act, 2013<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MCA has amended the Companies (Management and Administration) Rules, 2014, while exercising its powers conferred under section 92 sub-section (3), read with section 469 sub-sections (1) and (2) of the Companies Act, 2013. The Central Government hereby makes the rules which are called as Companies (Management and Administration) Amendment Rules, 2020. They will come in [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":15912,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[153],"tags":[971],"acf":{"service_id":"215"},"authorName":"Soumya Bajpai","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/01\/0.jpg","authorDescription":"Soumya has done LLB (Hons) and has a 2+years experience in writing. Her main interest is in reading judgments, new enactments and amendments taking around in law. She always strives to bring the best to work that she does.","postViews":5305,"readingTime":2,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/15903"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=15903"}],"version-history":[{"count":5,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/15903\/revisions"}],"predecessor-version":[{"id":15914,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/15903\/revisions\/15914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/15912"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=15903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=15903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=15903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}