The latest notifications from the Ministry of Corporate Affairs (MCA) as of late May 2025
- aionbusinesscare
- May 30
- 2 min read
Notifications and Amendments:
Companies (Indian Accounting Standards) Amendment Rules, 2025 (G.S.R. 291(E) dated May 7, 2025): These amendments primarily focus on Ind AS 21, which deals with the effects of changes in foreign exchange rates. They provide detailed guidance on assessing currency exchangeability, estimating spot exchange rates when a currency is not exchangeable, and related disclosure requirements. These rules are applicable for annual reporting periods beginning on or after April 1, 2025.
Companies (Accounts) Amendment Rules, 2025 (G.S.R. 317(E) dated May 19, 2025): This notification extends the due date for filing Form CSR-2 (Corporate Social Responsibility) for the financial year 2023-24 from March 31, 2025, to June 30, 2025.
Appointment of Judicial Members in NCLAT (S.O. 2210(E) dated May 14, 2025): The Central Government has appointed Justice N Sesha Sayee and Justice Mohammad Faiz Alam Khan as Judicial Members in the National Company Law Appellate Tribunal (NCLAT).
Other Significant Updates:
Extension of Mandatory Dematerialization Requirement for Private Companies: The MCA extended the mandatory dematerialization requirement for private companies (excluding producer companies, not small companies as of March 31, 2023) until June 30, 2025. This was notified in February 2025.
Proposed Amendments to Fast-Track Merger Rules: The MCA has invited public comments on proposed amendments to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, to widen the scope of "Fast-Track Mergers" under Section 233 of the Companies Act, 2013. The public comment period for this ended on May 5, 2025.
MCA Embraces AI: The MCA has started utilizing AI for issuing income tax incentive notices and is leveraging the MCA21 V3 platform for enhanced digital corporate compliance. The platform offers features like auto-validation of PAN, DIN, DSC, pre-filled fields, AI-powered support, and new compliance modules.
Striking Off Companies: The Ministry of Corporate Affairs is in the process of striking off the names of over 3,300 companies from official records based on applications received under Section 248(2) of the Companies Act. These companies either failed to commence business within one year of incorporation or have not been carrying on any business for two immediately preceding financial years.
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