MCA has issued a series of notification on 13th June 2014, a summary of the same is given below:

1. Amendment of the Companies (Declaration and Payment of Dividend) Rules, 2014: -In rule 3, for sub-rule (5), the following sub-rule shall be substituted, namely: –

   “(5) No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the company of the current year.”

   Existing sub-rule (5) is reproduced below:

   (5) No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year are set off against profit of the company of the current year the loss or depreciation, whichever is less, in previous years is set off against the profit of the company for the year for which dividend is declared or paid.

2. Establishment of Registrar of Companies: By notification dated 13th June 2014, the Central Government hereby establishes the office of the Registrar of Companies at Hyderabad having territorial jurisdiction in the whole State of Telengana for discharging the functions of the Registrar of Companies under the various provisions of the said Act and appoints the Registrar of Companies, Hyderabad as Registrar of Companies for the purpose of registration of companies under the said Act in the State of Telengana.:
3. Establishment of Official Liquidator: By notification dated 13th June 2014, the Central Government hereby establishes the office of the Official Liquidator at Hyderabad having territorial jurisdiction for the purposes of the said Act for discharging the functions of the Official Liquidator in the whole State of Telengana and appoints the Official Liquidator at Hyderabad as Official Liquidator for the liquidation of companies under the said Act in the State of Telengana.