1. General Circular no. 24/2014 :
In continuation of the General circular No. 20/2013 dated 2711212073, it is clarified that the shares held by a company in another company in a 'fiduciary capacity' shall not be counted for the purpose of determining the relationship of 'associate company' under section 2(6) of the Companies Act, 2013.
2. General Circular no. 23/2014 :
it is clarified that there is no bar in the new Act for a company incorporated outside India to incorporate a subsidiary either as a public company or a private company. An existing company, being a subsidiary of a company incorporated outside India, registered under the Companies Act, 1956, either as private company or a public company by virtue of section 4(7) of that Act, will continue as a private company or public company as the case may be, without any change in the incorporation status of such company.
3. General Circular no. 22/2014 :
It is, clarilied that Form MGT-7 shall not apply to annual returns in respect of companies whose financial year ended on or before 1st April, 2014 and for annual returns pertaining to earlier years. These companies may file their returns in the relevant Form applicable under the Companies Act, 1956.
It is clarified that until the requisite fee is specified by companies, inspections could be allowed wlthout lely of fee.
4. Notification : Companies (Management and Administration) Amendment Rules, 2014.
In the Companies (Management and Administration) Rules, 2014, in rule 20,
(i) in sub-rule (1), the following shall be inserted, namely:-"Provided that the Company may provide the facillty referred to in this sub rule on or before 1st Day of January 2015.
(ii) in sub-rule (3), for the words "which opts to provide", the words "which
provides" shall be substituted.