Company Law Settlement Scheme 2014 (CLSS 2014)
MCA has brought the Company Law Settlement Scheme (CLSS) 2014 under which one time opportunity is provided to Defaulting Companies and its Directors to file their annual Reports, Financial Statements and related Documents due for filing on or before 30th June 2014 by 15th October 2014 with the following benefits

• Payment of only 25% of payable additional fee;
• Enjoy Immunity from prosecution and
• Directors will also not be disqualified under section 164(2) of the Companies Act, 2013.

MCA create repository for Independent Directors
As per section 150 of the Companies Act, 2013 an independent director may be selected from a data bank containing names, addresses and qualifications of persons who are eligible and willing to act as independent directors, maintained by anybody, institute or association, as may be notified by the Central Government. In this regard, the three Professional Institutes, namely, The Institute of Chartered Accountants of India, The Institute of Company Secretaries of India and The Institute of Cost Accountants of India, under the active encouragement of the Ministry of Corporate Affairs, Government of India have taken a joint initiative and developed a portal namely "Independent Directors Repository”.

The portal would help to facilitate the individuals who are eligible and willing to act as Independent Directors. This will also facilitate Companies to select the persons who are eligible and willing to act as Independent Directors. The portal is now operational and the URL of the portal is www.independentdirector.in