Thursday, September 19, 2024
Home » Economy » The Ministry of Corporate Affairs (“MCA”) Notifies the Companies (Appointment and Qualification of Directors) (Amendment) Rules, 2024

The Ministry of Corporate Affairs ("MCA") Notifies the Companies (Appointment and Qualification of Directors) (Amendment) Rules, 2024

August 28, 2024
Economy
0

Share

MCA has introduced amendments to the Companies (Appointment and Qualification of Directors) Rules, 2014, which have come into effect on August 1, 2024. These changes aim to enhance transparency and simplify the procedures for appointing directors. Notably, the amendment to rule 12A now mandates that updates made to personal information of directors must be done in specified form by September 30th of each financial year. Additionally, a new provision has been introduced allowing directors to update their mobile numbers and email addresses in real time, replacing the previous annual update process. Previously, directors had to file their KYC annually, with contact information updates, only possible in the following April, often leading to outdated details during organizational changes or restructuring. This new approach ensures continuous and accurate communication, facilitating seamless transitions and reducing disruptions.

Related Posts

RECENT POST

Reader / Viewer discretion and disclaimer :
The information provided on SMEConnect (www.smeconnect.in) website is intended for general informational purposes only. While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the content. The views and opinions expressed in the articles and posts on this website are those of the authors and do not necessarily reflect the official policy or position of SMEConnect website. Readers are advised to independently verify any information found on this website before making decisions based on it. We do not endorse, represent, or warrant the accuracy or reliability of any third-party content linked on this site. Furthermore, SMEConnect (www.smeconnect.in) website shall not be held liable for any errors, omissions, or delays in the information provided, nor for any losses, injuries, or damages arising from its display or use. Please note that the content on SMEConnect (www.smeconnect.in) website may be subject to change without notice.