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Date: 09-Oct-2024 Category: Extra Ordinary State: Union Government Country: India

Companies (Adjudication of Penalties) Second Amendment Rules, 2024

Issued by Ministry of Corporate Affairs · Not Applicable

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Executive Summary & Key Takeaways

Description of the Gazette Notification

  • This gazette notification announces the Companies (Adjudication of Penalties) Second Amendment Rules, 2024. These rules amend the Companies (Adjudication of Penalties) Rules, 2014.

Key Changes

  • The key change is the insertion of a proviso in sub-rule (1) of rule 3A of the Companies (Adjudication of Penalties) Rules, 2014. This proviso ensures that any proceedings pending before an Adjudicating Officer or Regional Director on the date these amendments come into force will continue under the rules in effect before the amendment.
  • The amendment is effective from the date of its publication in the official gazette (October 9, 2024).

Impact Analysis

Impact on Adjudicating Officers and Regional Directors

  • This ensures procedural consistency and prevents disruption to ongoing cases.

Impact on Companies

  • The amendment offers predictability and reduces potential uncertainty regarding the applicable rules during the adjudication process.

Suggested Actions

  • Companies involved in pending cases should monitor the progress of their cases under the existing rules.

Key Entities Referenced

Companies Act, 2013 (18 of 2013): The primary legislation under which the amendment is made. Sections 454 and 469 are specifically referenced. Companies (Adjudication of Penalties) Rules, 2014: The principal rules that are being amended by this notification. Companies (Adjudication of Penalties) Second Amendment Rules, 2024: The new rules introduced by this notification. Ministry of Corporate Affairs: The government ministry responsible for issuing this notification. Adjudicating Officer: An official responsible for adjudicating penalties under the Companies Act. Regional Director: Another official with adjudicative powers under the Companies Act. Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i): The official gazette where this notification and previous amendments were published.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 ससीी..जजीी..--डडीी..एएलल..--अअ..--0099110022002244--225577779900 CCGG--DDxLLx--xEEG--I00D99H11x00x22x00 2244--225577779900 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 574] नई दिल्ली, बुधवार, अक्त बू र 9, 2024/आज‍व न 17, 1946 No. 574] NEW DELHI, WEDNESDAY, OCTOBER 9, 2024/ASVINA 17, 1946 कारपोरेट कार् यमत्रं ालर् अजधसचू ना नई दिल्ली, 9 अक् तूबर, 2024 सा. का. जन. 630(अ).—केन्द्रीर् सरकार, कंपनी अजधजनर्म, 2013 (2013 का 18) की धारा 469 के साथ पठित धारा 454 द्वारा प्रित्त िजिर्ों का प्रर्ोग करत े हुए, कंपनी (िाजस्ट्तर्ों का न्द्र्ार्जनणयर्न) जनर्म, 2014 म ें और संिोधन करने के जलए जनम्नजलजखत जनर्म बनाती है, अथायत्: - 1. (1) इन जनर्मों का संजिप्त नाम कंपनी (िाजस्ट्तर्ों का न्द्र्ार्जनणयर्न) िसू रा संिोधन जनर्म, 2024 ह।ै (2) र्े रािपत्र में इनके प्रकािन की तारीख को प्रवृत्त होंगे। 2. कंपनी (िाजस्ट्तर्ों का न्द्र्ार्जनणयर्न) जनर्म, 2014 के, जनर्म 3क के, उप-जनर्म(1) में, जनम्नजलजखत परन्द्तुक अंतःस्ट्थाजपत दकर्ा िाएगा, अथायत्: - “परन्द्तु ऐसे प्रारंभ की तारीख पर न्द्र्ार्जनणयर्न अजधकारी र्ा प्रािेजिक जनिेिक के समि लजबबत कार्यवाजहर्ां ऐसे प्रारंभ से पूवय जवद्यमान जनर्मों के उपबंधों के अनुसार िारी रहेंगी।” [फा. स.ं 1/25/2013-सीएल-V(पाटय)] मनोि पाण्डेर्, अपर सजचव ठटप्पण: मूल जनर्म भारत के रािपत्र, असाधारण, भाग 2, खंड 3, उपखंड (i) में संख्र्ा सा.का.जन. 254(अ), तारीख 31 माचय, 2014 के द्वारा प्रकाजित दकए गए थे और तत्पश्चात् अजधसूचना सा.का.जन. 131(अ), तारीख 19 फरवरी, 2019 और अजधसूचना संख्र्ा सा.का.जन. 476(अ) तारीख 5 अगस्ट्त, 2024 के द्वारा संिोजधत दकए गए थ।े 6519 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 9th October, 2024. G.S.R. 630(E).—In exercise of the powers conferred by section 454 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Adjudication of Penalties) Rules, 2014, namely: - 1. (1) These rules may be called the Companies (Adjudication of Penalties) Second Amendment Rules, 2024. (2) They shall come into force from the date of their publication in the official gazette. 2. In the Companies (Adjudication of Penalties) Rules, 2014, in sub-rule (1) of rule 3A, the following proviso shall be inserted, namely:- “Provided that the proceedings pending before the Adjudicating Officer or Regional Director on the date of such commencement shall continue as per provisions of these rules existing prior to such commencement.”. [F. No. 1/25/2013-CL-V(Part)] MANOJ PANDEY. Addl. Secy. Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(i), vide number G.S.R. 254(E), dated the 31st March, 2014 and subsequently amended vide notification number G.S.R. 131(E) dated 19th February, 2019 and vide notification number G.S.R. 476(E) dated 5th August, 2024. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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