MCA has notified “Companies (Restriction on number of layers) Rules, 2017” dated September 20, 2017.
This rule is notified to bring down the layers of the subsidiary companies to two layers, with some exemption granted in this regard. This rule came into effective from date it is published in the Official Gazette. This rule will have prospective effect and the holding companies which are have the layer of companies in excess of the rules, will required to submit the Form CRL-1. The copy of official gazette is not available on MCA, however the same is available on e gazette website. Copy of order is attached with the mail.
MCA has notified “Companies (Acceptance of Deposits) Rules, 2014” dated September 19, 2017.
Deposit rules provide for certain norms for the International Financial Service Company and private companies to accept the deposit from their members with the maximum limit of 100% of aggregate of paid up share capital, free reserves and securities premium account and that the company is required to file the details of such deposit accepted from members in Form DPT – 3. The copy of official gazette is not available on MCA, however the same is available on e gazette website. Copy of order is attached with the mail.