Important- MCA-Compliance Monitoring system
And the time has come, Now ignorance of any provision of the Companies Act will result in a Show Cause Notice.
It’s high time to have a Compliance Professional of regular in nature for your Company, Otherwise it would become difficult to comply with all the provisions of the Companies Act, 2013 and Rules made thereunder.
MCACMS is an online Compliance Monitoring System (MCACMS Portal) implemented the Ministry of Corporate Affairs for issuing show cause notices and submitting replies from companies / directors for non-compliance under provisions of Companies Act 2013.
Show cause notice from MCACMS Portal
MCACMS Portal started sending show cause notices for certain violations by email to the Company /Director / Company Secretary.
The Show cause notice will carry a CMS reference Number such as F.No. D/RCXXX/XXX/2019/XX/YY-YY.
The notice will carry details of non-compliances under which section the notice is issued for and the timelines for submitting the reply.
The Company is required to serve a copy of the said notice to the directors/KMPs and the notice will be treated as deemed to have been served upon every officers in default of the company in terms of the Companies Act. 2013.
The recipient of showcase notice has to submit reply at the portal referring the CMS Reference Number within 15 days from the date the notice. If no reply is filed by the Company / Director, it will be presumed that the company has nothing to say in the matter and the Register of Companies shall initiate penal action for violation of sections referred in the show cause notice.