COMPANY LAW AMENDMENTS part 2 - CS EXECUTIVE 2023

Lesson No.4 – Debt Capital and Deposits Amendment No.5 The Companies (Acceptance of Deposits) Amendment Rules, 2022 (Dated 24th August, 2022) According to the amendment in rule 16 of the Companies (Acceptance of Deposits) Rules, 2014: Every company to which these rules apply, shall file return of deposit in E Form DPT-3 and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company and declaration to that effect shall be submitted by the auditor in E Form DPT-3.

Lesson No.5 - Charges

Amendment No.6

The Companies (Registration of Charges) Amendment Rules, 2022 (Dated 27th April, 2022)

The amendment provides that in rule 3 pertaining to registration of creation or modification of Charge, a sub-rule (5) shall be inserted, namely: “Nothing contained in this rule shall apply to any charge required to be created or modified by a banking company under section 77 in favour of the Reserve Bank of India when any loan or advance has been made to it under sub-clause (d) of clause (4) of section 17 of the Reserve Bank of India Act, 1934.”

Brief Analysis:

The rule 3 shall not apply to any charge required to be created or modified by a banking company under section 77 (Duty to register charge) in favour of the Reserve Bank of India when any loan or advance made to it under section 17 (4) (d) of the RBI Act, 1934.

Amendment No.7

The Companies (Registration of Charges) Second Amendment Rules, 2022 (Dated 29th August, 2022)

According to the amendment, rule 13 is inserted by stating that, signing of charge e-forms (i.e. Form No. CHG-1, CHG-4, CHG-8 and CHG-9) by insolvency professional or resolution professional or liquidator for companies under resolution or liquidation, as the case may be and filed with the Registrar.