DEC 21, 2016

Delegation of powers to Regional Director & discontinuation of form INC-7

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MCA delegates its powers under certain sections of the Companies Act, 2013 to Regional Director

MCA vide Notification No. S.O. 4090(E) dated December 19, 2016 in supersession of all earlier notifications related to delegation of power to Regional Director except powers delegated under section 153, and pursuant to power vested in it under section 458 of the Companies Act, 2013 has delegated its powers to the Regional Directors at Mumbai, Kolkata, Chennai, New Delhi, Ahmedabad, Hyderabad and Shillong, under the following matters:-

S. No. Sections Particulars
1. Clause (i) of sub-section (4) of section 8 For alteration of memorandum in case of conversion of section 8 company into another kind of company.
2. Sub-section (6) of section 8 Power to revoke the licence granted to section 8 company.
3. Sub-sections (4) and (5) of section 13 Approval of application for shifting of registered office from one State to another.
4. Section 16 Power to determine whether the name of company is identical with or too nearly resembles the name by which a company is existence has been previously registered or is identical with or too nearly resembles to an existing name of company registered under the Companies Act, 2013 or any previous company law.
5. Section 87 Power to order rectification or condonation in register of charges.
6. Sub-section (3) of section 111 Power to declare on application that the rights conferred by this section are being abused to secure needless publicity for defamatory matters.
7. Sub-section (1) of section 140 Approval for removal of the auditor.
8. Sub-section (5) of section 230 Sending the notice of meeting for compromise and arrangements to the Central Government.
9. Sub-sections (2), (3), (4), (5) and (6) of section 233 Confirmation for merger or amalgamation between two or more small companies or between a holding company and its wholly owned subsidiary company.
10. First and second proviso of sub-section (3) of section 272 Obtain the previous sanction by the Registrar to the presentation of a petition for winding up.
11. Sub-section (1) of section 348 Power to exempt the Company Liquidator for winding up of a company is not concluded within one year after its commencement.
12. Sections 361, 362, 364 and 365 Power to order for winding up of the company has assets of book value not exceeding one crore rupees.
13. Clause (i) of the proviso to sub-section (1) of section 399 Power to allow inspection of documents filed under section 26 and 388
14. Section 442 Application for referring the matter to the Mediation and Conciliation Panel.

Click here to download the Notification.

MCA to discontinue normal incorporation procedure shortly

Stakeholders may kindly note that existing INC-2 and INC-7 eforms are likely to be withdrawn from the MCA portal shortly. Stakeholders will then have to use only SPICe (Simplified Proforma for Incorporating a Company electronically) forms viz. SPICe (INC-32), SPICe eMoA (INC-33) and SPICe eAoA (INC-34) for incorporation of all companies including Section 8 Companies (except Part I companies, a company having more than 7 subscribers/promoters, or foreign national subscribers not having a valid DIN). A revised version of INC-7 shall be made available a few days after the discontinuation of the existing version of INC-7 which shall be applicable only for Part I companies, a company having more than 7 subscribers/promoters, or foreign national subscribers not having a valid DIN. During the intervening period a separate process will be specified for incorporation of such companies. Stakeholders who have already filed INC-2 or INC-7 prior to the notification of this change would be able to resubmit previous versions of these forms (if required), within a stipulated time period. The effective date of these changes will be published on the MCA portal. All Stakeholders are requested to make note of the upcoming changes, and are advised to use only SPICe eform henceforth for any new filings, so as not to face any inconvenience at a later date due to withdrawal of INC2 and INC7 eforms.