1. Section 138(1) of Companies Act, 2013 The following class of companies shall be required to appoint an internal auditor- An internal Auditor can be an Individual or a Partnership firm or a body corporate. a. Every listed company; b. Every unlisted public company having- i. paid up share capital 50 Cr. or more during […]
1. Section 148(1) The CG may by order, in respect of class of companies engaged in the production of such goods or providing such services, direct that particulars relating to the utilization of material or labour or to other items of cost shall also included in the books of account kept by that class of […]
1. Rule 3 of the Companies (filling of documents and forms in XBRL) Rules 2015 The following class of companies shall file their financial statements and other documents us 137 of the companies Act with ROC in Form AOC-4 XBRL. A. Listed Companies and their Indian subsidiary. B. Companies having paid up capital Rs. 5 […]
Provisions of CARO- The Companies (Auditor’s Report) Order, 2020 1. Rule 1 Applicability CARO shall apply to every company including a Foreign company under section 2(42) except- a. Banking Company as defined in section 5(c) of the Banking Regulation Act, 1949. b. An insurance company as defined under insurance act 1938; c. Section 8 Company; […]
1. Section 139(1) Every company in its very 1st Annual General Meeting , shall appoint an Individual or a Firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of 6th AGM and there after till the conclusion of every 6th AGM. 2. Manner of selection and appointment […]
1. Section 455(1) Where a company is incorporated and registered under the Act for a future project or to hold an asset or intellectual property and who has not significant accounting transaction, such a Company or an inactive company may make an application to ROC for obtaining the status of Dormant company. 2. Application for […]
1. Eligibility criteria and shareholding limit for Clearing Corporation : 1. Any Clearing corporation or 2. any Indian recognized stock exchange or 3. Any clearing corporation of a foreign jurisdiction Shall form a subsidiary which provide the service of clearing corporation in IFSC wherein at least 51% of paid up share capital is held by such stock exchange or clearing corporation.
Provision of Escrow under SEBI (SAST) Regulations, 2011 1. Regulation 17(1) Not later than 2 working days prior to the DPA of open offer for acquiring shares, the acquirer shall create an escrow account in respect of security for performance of his obligations under these regulations and deposit in the escrow account amount as such. […]
Conditional Offers 1. Regulation 19(1) Acquirer may make offer which is conditional as to the minimum level of acceptance; 2. Proviso to Regulation 19(1) Where an open offer is subject to an agreement such agreement shall stipulate a condition to the effect that in the event the desire level of acceptance of open offer not […]
Steps to be followed after filling Letter of offer with SEBI under SEBI (SAST) Regulations 2011 1 Regulation 18(1) After filling the draft letter offer with SEBI under regulation 16(1), the acquirer shall send a copy of draft letter of offer to target company at its registered office address and to all the stock exchanges […]
