Discover the essence of Corporate Social Responsibility (CSR) under the Companies Act, 2013, including criteria, committee duties, and repercussions for non-compliance.
Unlisted Public Limited Company and its Compliance Section 2(71) of the Companies Act, 2013 explained a Public Company. A Public Company is a company that offers shares to the general public and has Limited Liability with a minimum of 3 Directors and minimum of 7 members. Features of Unlisted Company: The shares of the Unlisted Public […]
Annual General Meeting (AGM) Under Companies Act, 2013 Background: An Annual General Meeting (AGM) is an interaction between the management and the shareholders of the Company. The Companies Act, 2013 read with the Companies (Management and Administration) Rules, 2014 deals with the convening of Annual General Meeting. It makes it compulsory to hold an Annual […]
Article explains Annual Compliance Requirement under Companies Act, 2013 and also compiles Compliance Requirements under Companies Act, 2013 for month of September, 2020. Article explains Due date and Purpose of File of Form ADT-1, AOC-4 and AOC-4 CFS (in case of consolidated Financial Statements), MGT-7, MGT-14, CRA-4, INC-20A, BEN-1, BEN-2, Active Form INC-22A, DIR 3 […]
Incorporation of Company through SPICe+ The SPICe+ stands for Simplified Performa for incorporating Company electronically , SPICe+ aims to offer about ten services by three Central Government Ministries and departments (Ministry of Corporate Affairs, Ministry of Labour and the Department of Revenue in the Ministry of Finance) and one State Government (Maharashtra). This form is […]
Section 13 of the Companies Act, 2013 deal with change of name which says that the name of the company can be changed by a special resolution and with the approval of the Central Government. Approval of Central Government is not required if the change relates to the addition/ deletion of the words ‘private’ to […]
According to Section 2(51) of the Companies Act 2013, Key Managerial Personnel in a Company are: -Chief executive Officer (CEO) OR the Managing Director. -Chief Financial Officer (CFO). -Manager -Company Secretary (CS). -Whole-Time Director. These are a group of people who are in charge of managing the operations of a Company; they are responsible for […]
Committees are a sub-set of the board, deriving their authority from the powers delegated to them by the board. Under Section 177 of Companies Act, 2013, Board of Directors may delegate certain matters to the committees set up for the purpose. Committees are formed as a means to improve board effectiveness and efficiency in areas […]
Statutory Registers are the Registers that contained the specific record of the Company’s Directors, Shareholders/ Members, Loans & Guarantees, Deposits, shares etc, and are placed at the registered office of the Company. It is advised to maintain these register for good corporate governance and to avoid penalties. 1. Register of Members: Section 88(1) (a) and […]
The Board of Directors of Company is primarily an oversight board. It oversees the management of the company to ensure that the interest of non-controlling shareholders are protected, it also functions as advisory board. Meetings of the Board: -Section 173 of the Act deals with Meetings of the Board and Section 174 deals with quorum. […]
