Delegation of power to Regional Directors to receive inspector reports and initiate or refer prosecution on recommended offences.
The Central Government delegates to specified Regional Directors the authority to receive reports from Registrars or Inspectors recommending action for offences punishable with imprisonment under two years, excluding certain chapters and sections retained by the Central Government. Regional Directors shall examine such reports, obtain legal advice as needed, direct prosecution where they concur with the recommendation, and notify the Central Government with reasons when they do not; reports recommending action outside the delegated category must be forwarded to the Central Government for prosecution initiation.

Omnibus approval for related party transactions: Audit Committee may grant annual approvals subject to prescribed criteria and safeguards.
The amendment allows the Audit Committee, with Board approval, to grant annual omnibus approval for related party transactions subject to specified criteria: aggregate and per transaction value limits, disclosure requirements, periodic review, excluded transaction categories, consideration of repetitiveness and justification, and a one year validity; omnibus approvals must specify related parties, transaction nature and duration, maximum amounts, indicative pricing and variation formulae, and other material information, and cannot apply to sale or disposal of the company's undertaking.

Commencement of Companies Amendment provisions activated; sections 13 and 14 brought into force on appointed date.
The Central Government, exercising the power conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, designates the 14th day of December, 2015 as the date on which the provisions of section 13 and section 14 of the Amendment Act shall come into force, by official notification.

Reporting of frauds by auditor: auditors must notify Board/Audit Committee promptly and escalate significant frauds to the Central Government.
Statutory auditors, and likewise cost and secretarial auditors, must report suspected significant frauds to the Board or Audit Committee within two days, obtain observations within forty five days, and forward their report plus the Board's/Audit Committee's reply and the auditor's comments to the Central Government within fifteen days; absent a reply, the auditor forwards the report with a note. Reports must be sent to the Secretary, Ministry of Corporate Affairs in a sealed posted cover followed by email, on auditor letterhead, signed, sealed, showing contact details and membership number, and in Form ADT 4. Lesser frauds must be reported to the Board or Audit Committee and disclosed in the Board's Report with specified particulars.

Annual Return form updated: substituted form prescribes detailed disclosure and electronic filing requirements for companies.
The notification substitutes the Annual Return form in the Companies (Management and Administration) Rules, 2014 with a revised Annual Return form to be filed under section 92 of the Companies Act, 2013; the form prescribes structured disclosures of company identification, business activities, holding/subsidiary details, share capital and transfers, indebtedness, shareholding patterns, board and KMP particulars, meeting attendance, remuneration, compliance and penalty reporting, certification requirements for certain companies, required attachments, and electronic filing with digital signature.

Long-term debenture issuance expanded: Infrastructure Debt Fund NBFCs and authorised entities may issue extended-maturity debentures under Companies Rules amendment.
Amends rule 18(1)(a) of the Companies (Share Capital and Debentures) Rules, 2014 by substituting sub clause (iii) to include Infrastructure Debt Fund Non Banking Financial Companies as eligible issuers and by adding a sub clause permitting companies authorised by a Central Government ministry/department, the Reserve Bank of India, the National Housing Bank, or any other statutory authority to issue debentures with maturities exceeding ten years.

Regional Directors notified to exercise Companies Act functions for specified jurisdictions; prior Act functions continue where still in force.
Central Government notifies seven Regional Directors in the Ministry of Corporate Affairs to discharge functions under the Companies Act, 2013 for the specified States and Union Territories, allocating territorial jurisdiction to each Regional Directorate. The notification also preserves continuity by directing those Regional Directors to continue exercising functions conferred or delegated under the Companies Act, 1956 in respect of provisions of that Act still in force, and declares the notification effective from its publication in the Official Gazette.

Deputation recruitment to senior SFIO posts: professional finance qualifications and sector experience required, with fixed tenure and UPSC consultation.
The rules prescribe deputation-based recruitment to Additional Director/Joint Director posts in the Serious Fraud Investigation Office, specifying Group 'A' classification, pay matrix levels, that only one post per stream operates at a time, essential qualifications (professional finance qualifications and specified years of sectoral experience), desirable legal and evidentiary skills, deputation tenure ordinarily not exceeding five years with an upper age limit, reservation and relaxations for specified categories, a spousal marriage disqualification subject to exemption, and mandatory consultation with the Union Public Service Commission for deputation appointments.

Amendment to notification: substitution of a Member appointment under section 28A of the Chartered Accountants Act.
Amendment G.S.R. 744(E) substitutes the entry at serial number (5) in notification G.S.R. 38(E) dated 19th January, 2011, appointing Shri P.K. Mishra, Director General (Commercial)-I, Office of Comptroller and Auditor General of India, as Member, effected under the authority of section 28A of the Chartered Accountants Act, 1949.

Company identifier requirement: Form MGT 7 now mandates inclusion of the company Permanent Account Number for filings.
Amendment requires insertion of the company's Permanent Account Number (PAN) into paragraph 1 of Form No. MGT 7, to be placed after the Global Location Number (GLN); the Second Amendment Rules, 2015 take effect on publication in the Official Gazette under the rule making powers conferred by the Companies Act, 2013.

Remuneration framework for tribunal members sets pay, allowances, pension and provident fund treatment, and leave entitlements.
Prescribes pay and allowance entitlements for the President and Members of the Tribunal aligned with Central Government pay grades, requires reduction of pay by pension amounts received, and sets pension and provident fund regimes based on prior service status, with no additional pension or gratuity for Tribunal service.

Director deposits: allowed with written non-borrowed funds declaration and mandatory Board report disclosure.
Rules amend deposit acceptance provisions to allow amounts received from a director or a director's relative only if accompanied by a written declaration that funds are not sourced from borrowed money or deposits from others, with mandatory disclosure of such receipts in the Board's report; they also expand the accounting base by substituting "paid-up share capital, free reserves and securities premium account" for the prior phrase and update the specified Brickwork rating entry to "BWR FBBB."

Statutory nominations under Companies Act: specified professional nominees appointed and term of office extended to two years.
Amendment under section 210A substitutes listed serial entries to specify three nominee members: the President nominee of the Institute of Cost Accountants of India, the President nominee of the Institute of Chartered Accountants of India, and the Director General (Commercial) nominated by the Comptroller and Auditor General of India; and replaces the tenure wording from "one year" to "two years" in the principal notification.

Companies must file annual financial statements and specified reports in XBRL using approved taxonomies for specified thresholds.
Specified companies must file annual financial statements and prescribed documents in XBRL using Central Government-approved taxonomies in e Form AOC 4 XBRL for financial years commencing on or after 1 April 2014; covered classes include listed companies (and Indian subsidiaries), companies with paid up capital Rs. 5 crore, turnover Rs. 100 crore, and those previously under the 2011 rules, with exemptions for banking, insurance, power and NBFCs. Cost audit reports under section 148(6) must be filed in e Form CRA 4 using the prescribed XBRL taxonomy. The AOC 4 XBRL form prescribes required fields, attachments, certification and digital signature requirements.

Financial statement compliance: mandatory Schedule III format and adherence to Accounting Standards or Indian Accounting Standards; specified filing forms required.
The 2015 amendment defines Indian Accounting Standards, mandates that financial statements follow Schedule III and comply with applicable Accounting Standards or Indian Accounting Standards, exempts defence-producing Government companies from furnishing certain information under rule 8(3), and requires filing of financial statements with the Registrar using Form AOC-4 and consolidated statements using Form AOC-4 CFS, with substituted Annexure forms for statutory compliance under section 137.

Trade payables disclosure requires segregating MSME dues and detailed interest-related disclosures, enhancing transparency and compliance obligations.
The notification amends Schedule III to require separate presentation of trade payables: (A) dues to micro and small enterprises and (B) dues to other creditors. It inserts Note FA mandating disclosure of unpaid principal and interest, interest paid under section 16 of the MSMED Act and payments beyond the appointed day, interest due for delayed payments (excluding MSMED-specified interest), interest accrued and unpaid, and further interest remaining due for disallowance under section 23 of the MSMED Act, with defined terms aligned to section 2 of the MSMED Act.

Exemption from Schedule III disclosure: defence and space public companies may omit specified profit and loss items subject to compliance conditions.
The Central Government, under sub-section (6) of section 129, exempts government companies producing Defence Equipment and Space Research from disclosing specified Additional Information items in the Statement of Profit and Loss (paras 5(ii)(a)(1), 5(ii)(a)(2), 5(ii)(e), 5(iii), 5(viii)(a),(b),(c),(e) of Schedule III), subject to board consent, disclosure of the exemption in the notes, compliance with accounting standards, true and fair presentation, and retention/provision of information to regulators.

Companies (Management and Administration) Amendment Rules, 2015 amend rule 23 and substitute the annual return Form MGT 7.
The Companies (Management and Administration) Amendment Rules, 2015 amend the 2014 Rules to substitute in rule 23(1) the words "not more than five lakh rupees" with "not less than five lakh rupees" and to replace Form No. MGT-7 with a new Form No. MGT-7; the rules commence on publication in the Official Gazette and are made under specified enabling provisions of the Companies Act, 2013.

Remuneration and service terms for tribunal members set pay, allowances, leave, pension and disclosure requirements.
These rules prescribe remuneration, allowances and service conditions for the President and Members of the National Company Law Tribunal, including fixed pay and pay scales, adjustment for pension drawn, pension and provident fund applicability, exclusion of additional gratuity, leave entitlements and encashment limits under central civil service rules, travel and medical facilities on par with equivalent Central Government grades, accommodation and conveyance benefits, oath and secrecy requirements, declaration of financial interests, and residuary applicability and relaxation powers vested in the Central Government.

Remuneration and service conditions set for appellate tribunal members, including allowances, leave, pension and conduct requirements.
Rules prescribe remuneration, allowances and service conditions for the Chairperson and Members of the National Company Law Appellate Tribunal, including fixed pay scales with applicable Central Government allowances, reduction of pay by pension drawn, pension/provident fund treatment depending on prior service, prohibition of additional pension/gratuity, thirty days earned leave per year with encashment limits under Central Civil Services rules, travel and transfer entitlements aligned with equivalent Central Government grades, medical, accommodation and conveyance facilities, oath and secrecy requirements, declaration of financial interests, residuary provisions and Central Government's power to relax rules.