It is a fact that in the rapidly changing business world, every company, while pursuing its activities has to comply with numerous rules and regulations under Companies Act, SEBI, FEMA, and multiple other Laws. Thus, under section 204 of the companies act, 13, the mechanism of secretarial audit has been included to examine the compliance […]
Understanding the SEBI regulations on insider trading and communication restrictions. Learn about the exemptions and compliance officer requirements.
The regulation was notified on 15.01.2015 and came into effect on the 120th day after being notified i.e 15.05.2015 In general terms Insider trading is defined as, ‘the illegal practice of trading on the stock exchange to one’s own advantage through having access to unpublished price sensitive information.’ Section 195 of Companies Act, 2013 (omitted […]
In continuance of the earlier article, ‘All about Independent Directors- (Part-1)‘, this article will focus on the independent director databank and the process of appointing an independent directors. On 22nd October, 2019 the Ministry of corporate affairs (MCA) published the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019, to amend the Rule 6 […]
An independent director is a member of the board who: -is a non-executive director of a company, -does not haveany kind of relationship with the company that may affect his/ her independence, -is not involved in day to day activities of the company, -helps the company in improving corporate credibility and governance standards. The companies […]
Eligibility criteria for appointment as an Independent Director As per Section 2(47) of the Companies Act, 2013, ‘independent director’ means an independent director referred to in sub-section (5) of section 149. Comparison of Eligibility to be appointed as independent director under section 149 of companies act and Regulation 16(b) of SEBI (LODR) Regulations, 2015. […]
Section 7- Insolvency and bankruptcy Code, 2016 and IBC Amendment Ordinance, 2019 Filing of Application under section 7 of IBC Insolvency and bankruptcy code was enacted on 28.05.2016, with the intent of consolidating & amending the law relating to reorganization and insolvency resolution in a time bound manner. Section 6 of the code talks about […]
Insolvency and Bankruptcy Code, 2016– A new-fashioned mechanism for resolution of distressed assets. It’s been 4 years since the inception of the code and it has shown unfailing progress in addressing the intent behind its enactment. Being a new enactment, periodic amendments have been made to structure the code as per the current conditions. Recently, […]
Even though the companies act, 2013 talks about compounding of offences but the word compounding is defined under the companies act, 2013 and neither was it defined under the companies act, 1956. The legal meaning of compounding is “to settle a matter by payment of money, in lieu of other liability.” In terms of a […]
