Tomorrow is the last date for Submitting Suggestions for the 2nd Tranche of Draft Rules Under the Companies Act 2013

Tomorrow i.e. October 23, 2013 is the last date for submission of suggestions/ comments for the 2nd tranche of Draft Rules being framed under the Companies Act, 2013. Earlier, the Ministry of Corporate Affairs had extended the date by 4 days to 23rd October 2013. After tomorrow the system will not accept any suggestions/ comments on the subject. In this phase, following nine Chapters have been covered:

1. Chapter III - Prospectus and Allotment of Securities;

2. Chapter IV - Shares Capital and Debentures;

3. Chapter VII - Management and Administration;

4. Chapter XIII - Appointment and Remuneration of Managerial Personnel;

5. Chapter XV - Compromises, Merger and Amalgamations;

6. Chapter XVII - Registered Valuers;

7. Chapter XXI - Companies authorized to register under this Act;

8. Chapter XXVII - National Company Law Tribunal and Appellate Tribunal; and

9. Chapter XXVIII - Special Courts (Mediation and Conciliation Panel).

Forms for 9 chapters issued under 2nd phase have also been put for public comments. Earlier, the Ministry had invited suggestions/ comments for the first tranche of Draft Rules being framed under the Companies Act, 2013. The last date for sending such suggestions was 10th October. Under the first tranche of Draft Rules, 16 Chapters had been covered.

All the Draft Rules put out for public comments, as also the Companies Act, are available on the website of the Ministry of Corporate Affairs.