The Ministry of Corporate Affairs, Government of India has established a Central Scrutiny Centre (CSC) for carrying out scrutiny of Straight Through Processes (STP) e-forms filed by the companies under the Act and the Rules made thereunder, and which shall function under the administrative control of the e-Governance Cell of the MCA.
The CSC will carry out scrutiny of the e-forms filed through STP and findings will be forwarded to the concerned jurisdictional ROC, wherever required, for further necessary action under the provisions of the Act and the Rules made thereunder.
This notification shall come into force from March 23, 2021.
The notification can be accessed here.
MCA notifies amendment in Section 149(9) of Companies Act 2013
The Central Government vide its notification appointed the March 18, 2021 as the date on which the provisions of section 32 and section 40 of the Companies Amendment Act, 2020 shall come into force.
Section 149(9) as amended vide the Companies (Amendment) Act, 2017 shall come into force from March 18 2021.
The said amendment talks about ‘Remuneration payable to Independent Director in case of absence or inadequate profits. Through the amendment, the following proviso has been inserted that “if a company has no profits or its profits are inadequate, an independent director may receive remuneration, exclusive of any fees payable under sub-section (5) of section 197, in accordance with the provisions of Schedule V.”
The effect of the amendment would be that it allows the Independent Director to take remuneration in case of no profit or inadequate profit as per Schedule-V. The revised table as mentioned below:
| Sl.No. | Where the effective capital (in rupees) is | Limit of yearly remuneration payable shall not exceed (in Rupess) in case of a managerial person | Limit of yearly remuneration payable shall not exceed (in rupees) in case of other director |
| 1 | Negative or less than 5 crores. | 60 lakhs | 12 Lakhs |
| 2 | 5 crores and above but less than 100 crores. | 84 lakhs | 17 Lakhs |
| 3 | 100 crores and above but less than 250 crores. | 120 lakhs | 24 Lakhs |
| 4 | 250 crores and above | 120 lakhs plus 0.01% of the effective capital in excess of Rs.250 crores: | 24 Lakhs plus 0.01% of the effective capital in excess of Rs.250 crores |
The notification can be accessed at: http://www.mca.gov.in/Ministry/pdf/AmendmentNotification_19032021.pdf