MCA Amends Companies (Share Capital and Debenture) Rules, 2014

On 4th May 2022, the Ministry of Corporate Affairs notified amendments to the  Companies (Share Capital and Debenture) Rules, 2014. The Rules shall come into force from the date of their publication in the Official Gazette. 

As per the amendment, in the Annexure, Form No.SH-4, before the Enclosures of the Companies (Share Capital and Debentures) Rules, 2014, the following Declaration shall be inserted: 

“Declaration: 

1. Transferee is not required to obtain the Government approval under the Foreign Exchange
Management (Non-debt Instruments) Rules, 2019 prior to the transfer of shares, or; 

2. Transferee is required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to the transfer of shares and the same has been obtained and is
enclosed herewith.”