The Ministry of Corporate Affairs (MCA) has issued Notification No. G.S.R. 630(E) on October 9, 2024, regarding the Companies (Adjudication of Penalties) Second Amendment Rules, 2024.
Exercising the powers conferred by section 454 in conjunction with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government introduces the following amendments to the Companies (Adjudication of Penalties) Rules, 2014:
- (1) These rules may be referred to as the Companies (Adjudication of Penalties) Second Amendment Rules, 2024.
(2) They will take effect from the date of their publication in the official gazette.
- In the Companies (Adjudication of Penalties) Rules, 2014, a new proviso shall be added to sub-rule (1) of rule 3A, stating:
“Provided that the proceedings pending before the Adjudicating Officer or Regional Director on the date of such commencement shall continue under the provisions of the existing rules prior to this commencement.”