The Ministry of Corporate Affairs has extended by 4 days the last date for submission of suggestions/ comments for the 2nd tranche of Draft Rules being framed under the Companies Act, 2013. Earlier, the last date was fixed as 19th of this month but now it has been extended to 23rd October 2013. After that 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).

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.

Extension of deadline for submissions on Draft Rules under the Companies Act allows additional public comments before closure. Extension of the public comment period is announced for the second tranche of draft rules under the Companies Act, allowing additional submissions within a new limited window before the comment portal closes. The extension covers nine chapters, including Prospectus and Allotment of Securities; Share Capital and Debentures; Management and Administration; Appointment and Remuneration of Managerial Personnel; Compromises, Merger and Amalgamations; Registered Valuers; companies authorised to register under the Act; and procedural chapters on tribunal and special courts. Draft rules and the Act are available on the Ministry website.