Independent director relative indebtedness rule limits relatives' financial ties to company, affecting eligibility and securities.
The amendment inserts a sub rule excluding certain financial ties of relatives of independent directors from the independence disqualification: a relative who is indebted to, or has given a guarantee or provided security for the indebtedness of any third person to, the company, its holding, subsidiary or associate company, or their promoters or directors, within the two immediately preceding financial years or the current financial year, falls within the specified monetary and temporal limits set by the rule. The amendment also replaces "shall" with "may" in rule 16, converting a mandatory requirement into a permissive one.

Companies prospectus rules amendment removes specified procedural rules and takes effect on Gazette publication immediately.
The Central Government, under powers conferred by section 26 read with section 469 of the Companies Act, 2013, notifies the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2018, which come into force on publication in the Official Gazette and provide for the omission of rules 3, 4, 5 and 6 from the Companies (Prospectus and Allotment of Securities) Rules, 2014.

Commencement of Companies Amendment Act brings specified corporate and statutory provisions into force from appointed date.
Central Government appoints 07th May, 2018 as the date on which specified provisions of the Companies (Amendment) Act, 2017 shall come into force under sub section (2) of section 1. The notification lists the particular clauses of section 2, sections 8, 13, 18-19, sections 30-33, 39-40, 46, 49, 52, 54-58, 61-62, specified clauses of sections 21 and 23, specified proviso and clauses of section 80, and sections 83 and 86-89 as those provisions to be commenced.

Share capital rules amendment removes prior continuous duration requirement from eligibility explanation, altering application of rule eight.
Amendment to the Companies (Share Capital and Debentures) Rules deletes the words "for at least last one year" from the Explanation to clause (i)(a) of rule 8(1), removing the minimum prior-duration requirement; the amendment is titled the Companies (Share Capital and Debentures) Second Amendment Rules and commences on publication in the Official Gazette.

Quorum and virtual participation: directors may attend board meetings via video conferencing only when quorum is physically present.
The amendment permits director participation by video conferencing only when quorum exists through physical presence; narrows applicability from "every listed company" to "every listed public company"; and replaces the special resolution rule under section 186 to require specification of the total amount the Board is authorised to use for loans, guarantees, securities or acquisitions and mandates full particulars be disclosed in the financial statements.

Internal financial controls wording changed to focus on controls tied to financial statements and auditor qualification text streamlined.
The amendment revises specified provisions of the Companies (Audit and Auditors) Rules, omitting an explanation and the proviso to rule 3 and deleting rule 9, substitutes the phrase internal financial controls with reference to financial statements for the prior phrasing of internal controls in rule 10A, and amends rule 14 to replace "who is a cost accountant in practice" with "who is a cost accountant" in two sub-clauses, thereby altering textual qualifications for cost accountants in auditor-related provisions.

Companies registration fee rules amended to impose tiered additional fees for delayed filings and a 15 day RUN resubmission period.
The amendment requires the Registrar to allow fifteen days for re-submission to rectify defects in name reservation applications filed through RUN and establishes a tiered additional-fee regime for belated filings: specified multipliers of normal filing fees for delays (up to 12 times beyond 180 days), a Rs.100 per day charge for delayed filings under sections 92 or 137 where the deadline expires after 30/06/2018, and confirmation that fees payable at actual filing apply to filings due before notification. The additional fee also applies to revised financial statements, board reports and secretarial audit reports.

Amendment to companies' definitions rules removes clause (r), changing specified definitions effective upon Gazette notification.
Amendment removes clause (r) from rule 2(1) of the Companies (Specification of Definitions Details) Rules, 2014; the Central Government enacted the Companies (Specification of Definitions Details) Amendment Rules, 2018 under statutory authority, with a short title and commencement upon publication in the Official Gazette.

Designation of Special Court for speedy trial of company law offences under section 435 enables expedited criminal proceedings.
The Central Government, with concurrence of the Chief Justice of the High Court, designates the 9th Court of Additional District and Sessions Judge, Kanpur Nagar, as a Special Court under section 435(1) of the Companies Act, 2013 for speedy trial of company law offences punishable with imprisonment of two years or more.

Share certificate rules: require specified signatories, allow facsimile and digital director signatures, and impose seal and custody duties.
Every share certificate must specify the shares and amount paid up and be signed by two directors or by a director and the company secretary where appointed; where a common seal exists it must be affixed in the presence of the signatories. For an One Person Company the certificate may be signed by a director and the company secretary or any person authorised by the board. A director's signature may be a facsimile produced by mechanical means or a digital signature, but not a rubber stamp, and the director is personally responsible for permitting affixation and custody of the equipment used.

Share Certificate Signing Requirements revised: signatures by two directors or director and company secretary; seal provisions inapplicable where no seal.
Every share certificate must specify the shares and paid-up amount and be signed by two directors or by a director and the company secretary where appointed; if the company has a common seal it shall be affixed in the presence of the signatories. For an One Person Company, the certificate may be signed by a director and the company secretary where appointed, or any other person authorised by the board. Explanations clarify that where a company does not have a seal, provisions presupposing a seal are not applicable.

Pay matrix level revisions update recruitment conditions, qualifications, and deputation and promotion criteria for corporate law posts.
Amendment substitutes Rule 3 to align number, classification and pay matrix levels with the Schedule and revises the Schedule to set pay matrix levels for Assistant Director, Senior Assistant Director and Deputy Director, to modify essential qualifications and desirable experience for Assistant Director, to prescribe deputation and promotion eligibility tied to holding analogous posts or specified regular service in defined pay levels, to state deputation period and age limits, and to permit specified relaxations by the Union Public Service Commission.

Record retention requirement altered: specified duration removed, affecting storage obligation for corporate financial records notification compliance.
The Central Government amends notification S.O. 529(E) dated 5 February 2018 by omitting the words "for seven years" from the opening paragraph, under the authority of sub section (6) of section 129 of the Companies Act, 2013, thereby removing the fixed retention period previously prescribed for the specified corporate records.

Revenue recognition shifted to Ind AS 115's five step model with contract assets/liabilities and transitional rules effective April 1, 2018.
The amendment promulgates Ind AS 115, Revenue from Contracts with Customers, effective 1 April 2018, and makes consequential amendments across Ind AS 101, 103, 104, 107, 109, 112, 115 (inserted), 21 (Appendix B on foreign currency and advance consideration) and others. It establishes the five-step revenue recognition model, contract asset/liability presentation, treatment of variable consideration and significant financing components, aligns impairment and initial measurement rules (including trade receivables at transaction price and expected credit loss scope), and prescribes transition options and disclosure requirements.

Company name reservation via RUN form now required through MCA web service with 15 day resubmission window.
Reservation of name must be made via the MCA web service using the RUN form with the fee specified by the Companies (Registration offices and fees) Rules, 2014; the Central Registration Centre may approve or reject applications after permitting resubmission within fifteen days to rectify defects, and the annexure replaces the RUN form to reflect electronic filing.

Commencement of Companies Act provisions: specified subsections of Section 132 brought into force by government notification.
The Central Government appoints 21st March, 2018 as the date on which the provisions of sub sections (3) and (11) of section 132 of the Companies Act, 2013 shall come into force by notification issued under the powers of the Act and recorded as File No. 1/4/2016 CL.I.

Appointment and tenure rules for NFRA establish eligibility, selection committee process, conflict declarations and post service restrictions.
The rules establish the Authority's composition and set eligibility criteria and appointment procedures: a chairperson, three full-time and nine part-time members appointed by the Central Government, with chair and full-time members selected on recommendation of a search cum selection committee. Appointees must declare absence of conflict of interest, be medically fit, and meet experience thresholds. Full-time incumbents face restrictions on association with audit firms, must declare assets, and are subject to post service employment limitations. Terms, remuneration, leave, removal grounds and inquiry procedures are specified, with Central Government power to relax or interpret provisions.

Composition amendment: replaces institutional nominees to the committee under Companies Act, updating member nominations and specifies replacements of select members.
Amendment under sub section (1) of section 210A substitutes specified entries in the 2016 notification to name institutional nominees as Members: Shri Makarand Lele and Shri Naveen N.D. Gupta as nominees of the Institute of Company Secretaries of India and the Institute of Chartered Accountants of India respectively, each nominated under clause (b) of sub section (2) of section 210A; and Shri Saurav Sinha, Chief General Manager in Charge, as the Reserve Bank of India's nominee under clause (d) of sub section (2) of section 210A.

EBRL filing continuity: prior filers must continue electronic financial filings even if they fall outside the specified class.
The amendment inserts transitional sub-rules preserving continuation of EBRL filing: companies that have filed financial statements under rule 3(1) must continue to file in succeeding years even if they no longer fall within the specified class, and companies that filed under the earlier 2011 Rules must likewise continue to file as prescribed despite not falling within the specified class.

Abridged financial statements requirement: companies complying with Ind AS must submit Form AOC-3A detailing salient financial disclosures.
The amendment to the Companies (Accounts) Rules, 2014 requires companies subject to Ind AS to forward their statement in Form AOC-3A. Form AOC-3A prescribes an abridged set of financial disclosures - abridged balance sheet, statement of changes in equity, profit and loss, and cash flow - together with notes specifying availability of full statements, consistency with Schedule III aggregates, disclosures of material accounting changes, contingent liabilities, auditor qualifications, related party transactions under Ind AS 24, segment reporting, and requirements for abridged consolidated statements and accompanying auditor's report.