On 20-10-2023, the Ministry of Corporate Affairs notified the Companies (Incorporation) Third Amendment Rules, 2023 to amend the Companies (Incorporation) Rules, 2014. The provisions came into effect on 21-10-2023.
Key Points:
Rule 30 relating to “Shifting of Registered Office from one State or Union Territory to another State” has been revised.
The shifting of the registered office will be allowed, if the management of the company has been taken over by new management, following the resolution plan mentioned under Section 31 of the Insolvency and Bankruptcy Code, 2016, and no appeal is pending in any Court or Tribunal and no inquiry, inspection, investigation is pending or initiated after the approval of the resolution plan.
