Investor Education and Protection Fund to be credited with unpaid dividends, unpaid application money, matured deposits, debentures and accrued interest.
Amendment to the Form of Balance Sheet in Schedule VI replaces the item on unclaimed dividends with a requirement that the Investor Education and Protection Fund be credited by specified amounts: unpaid dividends; unpaid application money for allotment and due refunds; unpaid matured deposits; unpaid matured debentures; and interest accrued on those amounts.

Investor Education and Protection Fund crediting requirement requires unclaimed company amounts to be transferred after statutory dormancy period.
The amendment substitutes clause (c) in Part II of the "Annual Return" entries to require that the whole of amounts envisaged in the listed clauses of the Act remaining unpaid or unclaimed for the statutory dormancy period be credited to the Investor Education and Protection Fund by the company.

Cost accounting records requirement: petroleum companies must maintain detailed cost ledgers and face penalties for noncompliance.
These Rules require companies engaged in petroleum production, processing or manufacturing to maintain detailed cost accounting records and complete Proformae A-I annually, capturing materials, labour, utilities, workshop and maintenance, fixed assets and depreciation, exploration and drilling costs, overheads, royalties, R&D, transport, packing, marketing, intercompany transactions and pollution control. Records must permit costing by product or activity, equitable and consistent apportionment of joint and common costs, reconciliation of cost with financial accounts, analysis of variances, and provide data for cost audit reporting; non compliance attracts penalties under the Companies Act.

Cost accounting records requirement mandates telecom companies to maintain detailed activity-wise cost records and reconciliations, including interconnection and related party disclosures.
Companies engaged in specified telecommunication activities must keep detailed cost accounting records, in the formats and Proformae prescribed by the Schedule, enabling computation of activity-wise costs from materials, labour and other cost elements; records must be completed within ninety days after year end, permit cost control and auditor reporting, require reconciliation with financial accounts, and non-compliance attracts penalties under the Companies Act.

Cost accounting records requirement: detailed plantation cost books and proformae must be maintained and reconciled with financial accounts.
These Rules require companies engaged in specified plantation products to maintain detailed cost accounting records and specified Proformae A-F for each financial year to enable calculation of cost of production and cost of sales. Records must cover materials, labour, utilities, service departments, development and replantation costs, fixed assets and depreciation, overheads, royalties/technical fees, R&D, export expenses, quality control, packaging, interest, inventory valuation, reconciliation with financial accounts and analysis of cost variances. Cost records must be completed within ninety days of year end and failures attract penalties under the Companies Act.

Composition of Company Law notification updated: specified departmental and regulatory posts designated as chairman and members.
The Central Government amends a prior Companies Act notification by substituting six serial entries: designating the Secretary, Department of Company Affairs as Chairman and naming five senior departmental and regulatory officers, including the joint secretary handling IEPF, as Members, thereby revising the notification's official composition under statutory authority.

Employment visa requirement: Non-residents must secure an employment visa and submit company profile, employer details and terms.
Amendment to Schedule XIII adds Explanation II exempting companies in Special Economic Zones from the stated condition, and requires non-resident persons to obtain a proper employment visa from the concerned Indian mission abroad, with the visa application accompanied by the company profile, principal employer details and terms and conditions of appointment.

Enforcement of security interest: procedural steps for possession, valuation and sale to realise secured debt.
The Rules establish procedures for enforcement of security interests under the Ordinance: definitions of authorised officer, demand notice and approved valuer; modes of service including substituted service by affixture and newspaper publication; possession-taking of movable and immovable secured assets with Panchnama and inventory requirements; valuation, reserve price fixation and sale methods (quotations, tenders, auction, private treaty) with prescribed notice, publication and deposit rules; issuance of sale certificates evidencing title; appointment and powers of a Manager; and procedure for recovering any shortfall through application to the Debts Recovery Tribunal under prescribed forms and fees.

Notification correction clarifies scope by replacing limited wording with 'wherever they occur' in a company law rule.
Corrigendum G.S.R. 651(E) dated 17 September 2002 amends the notification GSR 419(E) by substituting in rule 2 the phrase "at both the places where they occur" with "wherever they occur", thereby broadening the locational application of that wording wherever it previously appeared.

Prospectus declaration requirement mandates compliance with Companies Act and SEBI guidelines and prohibits contrary statements.
Amendment substituted the Part III Declaration in Schedule II to require compliance with the Companies Act, 1956 and relevant Government or Securities and Exchange Board of India guidelines, and to state that no prospectus contains statements contrary to the Companies Act, the Securities and Exchange Board of India Act, 1992 or rules or guidelines made thereunder; the notification is effective on publication pursuant to the enabling power in the Companies Act.

Quorum change for Company Law Board: membership requirement amended to permit a single member to constitute the panel.
Amendment substitutes the prior minimum two member composition with a one or more members formulation in regulation 4(1), regulation 4(1A) and regulation 4(3) of the Company Law Board Regulations, 1991, thereby permitting a single Member to constitute the Board under those provisions; the regulations are made under the delegated powers of section 10E and commence on publication in the Official Gazette.

Remuneration cap for special economic zone companies permits higher pay where no public fundraising and no repayment defaults.
An amendment to Schedule XIII adds a clause authorising a higher remuneration cap for companies in Special Economic Zones, subject to two conditions: the company must not have raised funds by public issue of shares or debentures in India, and must not have defaulted in repayment of debts (including public deposits) or interest for a continuous period of thirty days in any financial year; the amendment is effective on its publication in the Official Gazette.

Rounding rules for company balance sheets clarified; permitted rounding units depend on turnover thresholds and Gazette publication.
Alteration to Schedule VI prescribes permissible rounding of figures in the vertical balance sheet form according to turnover bands, replacing the prior Note 3; it authorises specified rounding units (hundreds, thousands, lakhs, millions, crores) and permits decimals, enacted under statutory power and effective on publication in the Official Gazette.

Fee Schedule Amendment in Company Law Board: adds defaults and debenture trustee petitions fees under Companies Act
Amendment to the Company Law Board fee Schedule substitutes serial 6 to add section 45QA of the Reserve Bank of India Act, 1934, and inserts serial 6A for intimation of default in repayment of small deposits, and serials 11A and 11B for petitions by debenture trustees and directions to repay matured debentures, with specified fees; serial number 32 is omitted.

Secretary qualification threshold raised; amendment increases capital limit for required appointment and takes effect on publication.
Amendment to the Companies (Appointment and Qualifications of Secretary) Rules, 1988, substitutes the monetary threshold in rule 2 by replacing the previously specified capital amount with a higher capital amount at both places where it appears; the Rules are made under section 642(1)(a) and (b) read with section 383A of the Companies Act, 1956 and come into force on publication in the Official Gazette.

Nidhi notification amendment removes a specified sub item, modifying applicable Companies Act notification provisions.
The Central Government amends the Government notification of 26 July 2001 concerning Nidhis by omitting sub item (ii) of item (B) in clause (1), sub clause (i), thereby modifying the operative provisions of that notification under powers conferred by the Companies Act.

Corrigendum to notification: textual correction replacing an incorrect subparagraph reference to restore prescribed clause numbering.
Corrigendum to G.S.R. 555(E) dated 26-7-2001: at page 9, line 13 the subparagraph reference "(h)(i)" is replaced with "(i)(i)" to correct the published text.

Disclosure of overdue payments to small scale industrial undertakings requires companies to name creditors with interest outstanding after the prescribed period.
The Schedule VI alteration requires that, under "CURRENT LIABILITIES AND PROVISIONS," the name(s) of small scale industrial undertaking(s) to whom the company owes any sum together with interest outstanding for more than thirty days must be disclosed in the balance sheet; the notification takes effect on publication in the Official Gazette.

Exemption fee for hotel companies: applications for Schedule VI disclosure relief must be filed with prescribed fees.
The amendment requires every application by a hotel company under sub-section (4) of section 211 for exemption from paras 3(i)(a) and 3(ii)(d) of Part II of Schedule VI for a three-year period to be accompanied by the appropriate fee specified in Table IV, which classifies fees according to authorised share capital bands and is a precondition to the Central Government's consideration.

Companies rules amendment increases prescribed fee in rule 20, effective mid May, under powers of section 642.
Amendment revises rule 20 of the Companies (Central Government's) General Rules and Forms, substituting the previously specified fee with a higher amount; enacted under the powers of section 642(1)(a) and (b) of the Companies Act, 1956, and given a specified commencement date in May 2002.