MCA eases norms for shifting of registered office
Published: Aug 01, 2017
By TIOLCORPLAWS News Service
NEW DELHI, AUG 01, 2017: IN a bid to give a boost to the World Bank Ease of Doing Business Index, the Government has further simplified the guidelines for shifting of registered office.
As per the notification issued by the Minister of Corporate Affairs (MCA) on July 27, 2017, a new form-Form No. INC-23 was considered under the Companies (Incorporation) Rules, 2014 where now the Companies can shift their address of registered office within the same State or to another State.
The following documents are required to furnish by the Companies willing to shift their registered office from one State to another:
1) a copy of Memorandum of Association, with proposed alterations
2) a copy of the minutes of the general meeting at which the resolution authorising such alteration was passed, giving details of the number of votes cast in favour or against the resolution
3) a copy of Board Resolution or Power of Attorney or the executed vakalatnama
Whereas, the aforesaid notification also mandates to produce the listed documents for the Companies willing to shift their registered office within the State:
1) Board Resolution for shifting of registered office
2) Special Resolution of the members of the company approving the shifting of registered office
3) a declaration given by the Key Managerial Personnel or any two directors authorised by the Board, that the company has not defaulted in payment of dues to its workmen and has either the consent of its creditors for the proposed shifting or has made necessary provision for the payment
4) a declaration not to seek change in thc jurisdiction of the Court where cases for prosecution are pending
5) acknowledged copy of intimation to the chief Secretary of the state as to the proposed shifting and that the employees interest is not adversely affected consequent to proposed shifting
In the past decades, Indian Government has noticed a huge growth in the spectre of corruption and black money among various sectors. Considering the Indian economic, in May 2014, the Modi Government has launched many drives like 'Demonitisation' & 'GST' being the primary pitches in order to break the grip of corruption and black money.
Since then, Modi had disclosed that data mining post demonetisation so far showed that over three lakh registered companies were indulged in suspicious dealings and thereby, cancelled registration of over one lakh companies.
