CSR-2 filing deadline extended allowing additional time for submission under amended Companies (Accounts) Rules compliance.
The Central Government amends Companies (Accounts) Rules, 2014 by substituting in rule 12, sub rule (1B) fourth proviso the earlier deadline with a later date, thereby extending the filing period for Corporate Social Responsibility reporting in Form CSR 2; the amendment takes effect on publication in the Official Gazette.

Pending adjudicatory proceedings continue under prior Companies (Adjudication of Penalties) Rules despite the amendment notification.
The amendment adds a proviso to sub rule (1) of Rule 3A clarifying that proceedings pending before an Adjudicating Officer or Regional Director on the date the amendment commences shall continue to proceed under the provisions of the Companies (Adjudication of Penalties) Rules, 2014 as they existed prior to that commencement, thereby preserving the prior procedural regime for existing matters.

Appointment of Investor Education and Protection Fund Authority chairperson: Deepti Gaur Mukerjee designated ex officio upon assumption of office.
The Central Government appoints Smt. Deepti Gaur Mukerjee as Chairperson, ex officio of the Investor Education and Protection Fund Authority under section 125(5) and (6) of the Companies Act, 2013 read with rules 5 and 7 of the IEPF Authority Rules, 2016, effective from the date she assumes office, by substituting the serial number 1 entry in the principal notification S.O. 1647(E) dated 5 May 2016, as amended; published as S.O. 4333(E) dated 3 October 2024.

Designation of the chief executive officer replaces prior member reference in annual statement rules, clarifying the authorised signatory.
The 2024 amendment substitutes the words the chief executive officer for the previous reference to one Member in the specified provision of the 2018 rules, thereby designating the chief executive officer as the authorised signatory for that provision; the amendment takes effect on publication in the Official Gazette.

Insurance accounting transition: insurers may use Ind AS 104 for consolidation until Ind AS 117 is notified, impacting reporting and disclosures.
The rules permit an insurer or insurance company to present financial statements under Ind AS 104 for consolidation purposes by its parent, investor or venturer until the Insurance Regulatory and Development Authority notifies Ind AS 117; accordingly, Ind AS 104 is inserted as a Schedule and continues to apply, setting out scope, recognition and measurement rules (including unbundling, liability adequacy testing and reinsurance asset impairment), permissible accounting-policy elections and comprehensive disclosure requirements.

Appointment of tribunal members: Judicial and Technical members named for appellate tribunal with fixed-term, age-limited tenure.
Central Government appoints specified individuals as Judicial Members and Technical Members of the National Company Law Appellate Tribunal, naming two Judicial Members and two Technical Members. The appointments take effect from the date each assumes office and are for a fixed period of four years, subject to cessation upon attaining the age limit of sixty-seven years or until further orders; the notification is issued under the Ministry of Corporate Affairs with administrative reference.

CSR-2 filing requirement: file CSR-2 separately after AOC-4 filings by the prescribed year-end deadline.
The amendment to rule 12(1B) of the Companies (Accounts) Rules, 2014 requires that for the financial year 2023-2024, Form CSR-2 be filed separately after filing Form AOC-4, Form AOC-4-NBFC (Ind AS), or Form AOC-4 XBRL, and that this separate filing be completed on or before 31st December, 2024.

Producer company compliance deadline: must meet rule 9B(2) requirements within five years after financial year closure.
The amendment adds a proviso to sub rule (2) of rule 9B requiring a producer company covered by that sub rule to comply with its provisions within five years of the closure of the relevant financial year; the Amendment Rules take effect on publication in the Official Gazette.

National Financial Reporting Authority rules grant revised consolidated monthly salary to Chairperson and full time members effective 1 January 2024.
The amendment to rule 11(1) provides that the Chairperson and full time members are entitled to a revised consolidated monthly salary under that sub rule from 1 January 2024; the Rules are effective on publication in the Official Gazette and an explanatory memorandum states that retrospective operation will not adversely affect any person.

Cross-border merger approvals require RBI consent; transferee must apply to Central Government under section 233.
An amendment requires that where a foreign holding company transfers to its Indian wholly owned subsidiary by merger, the parties must obtain prior approval of the Reserve Bank of India; the transferee must comply with Companies Act requirements and apply to the Central Government under the Act with the existing application procedures applying; the prescribed declaration must be made when filing that application.

Leaseback accounting: seller lessees must allocate gains and determine lease payments to exclude amounts attributable to retained use.
The amendment inserts paragraph 102A requiring seller lessees to apply paragraphs 29-35 to the right of use asset and paragraphs 36-46 to the lease liability for leasebacks, and to determine lease payments or revised lease payments so that no recognised gain or loss relates to the right of use retained; gains or losses on lease terminations remain recognised under paragraph 46(a). The amendments mandate retrospective application per Ind AS 8, set the date of initial application at the start of the first annual reporting period of adoption, and take effect for annual periods beginning on or after 1 April 2024.

Transmission of securities: legal heir certificates allowed with indemnity bond and NOC, plus prescribed valuation method.
Rules substitute "securities" for "shares"; allow a legal heir certificate issued by a Tahsildar as alternative evidence; require notarised indemnity bonds and notarised no objection certificates from non claimants when legal heir certificates are used; prescribe valuation for listed securities by prior day closing price and for unlisted by higher of face or maturity value; raise the Part B monetary threshold; permit notarised/apostilled self declarations for foreign nationals with passport and address proof; and require contingency insurance for verification report claims.

Salary increase for NFRA Chairperson and members implemented by amendment to appointment and service rules, effective on gazette publication.
The Central Government amends the NFRA Rules by substituting in sub rule (1) of rule 11 specified salary expressions for the Chairperson and full time members with higher fixed amounts; the amendment is effected under sub-section (3) of section 132 of the Companies Act, 2013 and takes effect on publication in the Official Gazette.

Appointment of Authority members updates ex officio and nominated posts, amending earlier notification to designate chairperson and members.
The Central Government amends the principal Gazette notification to appoint the Secretary, Ministry of Corporate Affairs as Chairperson ex officio and the Executive Director of the Reserve Bank as an ex officio Member, and substitutes specified member entries by naming the individuals appointed as Members; these appointments are made under the Companies Act and the IEPF Authority Rules and take effect from the date each assumes office.

NFRA appointment amendment substitutes two part time member entries and makes the change effective on Gazette publication.
The Central Government, exercising powers under section 132(3) of the Companies Act, substitutes serial numbers (8) and (9) in the National Financial Reporting Authority appointment of Part time members Rules, 2022 with the names Shri Sanjay Kallapur and Professor R. Narayanswamy; the National Financial Reporting Authority appointment of part time members (Amendment) Rules, 2024 takes effect on publication in the Official Gazette.

Insurance contracts standard introduces a comprehensive recognition, measurement and disclosure framework and amends related accounting rules.
The Amendment Rules insert Ind AS 117 Insurance Contracts, establishing principles for recognition, measurement, presentation and disclosure of insurance and related contracts, defining key measurement building blocks (fulfilment cash flows, discounting, risk adjustment and contractual service margin), grouping and contract boundary rules, eligibility for a premium allocation approach, special rules for reinsurance and investment contracts with discretionary participation features, modification/derecognition mechanics, extensive disclosure requirements, and consequential amendments and transition cross references across multiple Ind ASs to ensure consistent application.

Foreign company registration now requires submission in Form FC-1 to the Registrar, Central Registration Centre.
The amendment designates the in place of the generic "Registrar" in rule 3(3) and inserts a proviso in rule 8(1) requiring that documents for registration by a foreign company referred to in rule 3(3) be delivered in Form FC-1 to the Registrar, Central Registration Centre, thereby prescribing the receiving authority and the documentary format for initial foreign company registration filings.

Companies adjudication penalties: proceedings must use the e-adjudication platform; notices by post only if email unavailable.
All adjudication proceedings under the Companies (Adjudication of Penalties) Rules, 2014 shall be conducted exclusively in electronic mode via the Central Government e-adjudication platform; where an email address is unavailable the adjudicating officer shall send notices by post to the last intimated or recorded address and preserve a copy in the platform, and where no address exists the notice shall be placed on the e-adjudication platform. The Annexure is substituted to provide a revised Form ADJ (Memorandum of Appeal) and related e-form requirements.

Investor Education and Protection Fund rules amended to require online remittance within thirty days and revise IEPF forms.
The 2024 amendments require amounts due to the IEPF to be remitted online to the Authority, in several instances within thirty days from the date the amount becomes due, replace and omit specified IEPF form references (notably substituting IEPF-3 with IEPF-4 and IEPF-7 with IEPF-1), and substitute new versions of multiple eForms while preserving declaration and attachment requirements.

Use of 'Nidhi Limited' restricted unless formally declared; amendment enforces statutory naming safeguard for companies.
The amendment inserts a proviso into rule 4(5) of the Nidhi Rules, 2014, providing that a company shall not use the name "Nidhi Limited" unless it is declared as such under the statutory declaration mechanism; the rule change is made under the Companies Act and comes into force upon publication in the Official Gazette.