Importance of website Disclosure: The companies having their website are required to adhere to certain provisions and compliances about website disclosures. It must be in accordance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
These days, nearly every company has an online presence. However, certain website disclosures are still a mystery for various business owners. Also, there are several disclosures which need to be made by different kind of businesses. Hence, the need for website disclosure arises. Under Companies Act, 2013 Company shall disclose/publish its name, address of its registered office, the Corporate Identity Number, Telephone number, fax number if any, email and the name of the person who may be contacted in case of any queries or grievances on the landing/home page of the said website.
Mandatory Website Disclosures are:
1. Change in object: As per Section 13(8) (i) of the Companies Act, 2013 Change of objects for which money is raised through prospectus. The notice of the same shall also be placed on the website of thecompany.
2. Annual Return: As per section 92(3) of the Companies Act, 2013 Every company shall place a copy of the annual return on the website of the company, if any, and the web-link of such annual return shall be disclosed in the Board’s report.
3. Vigil Mechanism: As per section 177 (10) of the Companies Act, 2013 Details of establishment of such mechanism shall be disclosed by the company on its website, if any.
4. Nomination and Remuneration Policy: As per Section 178(3) of the Companies Act, 2013 Nomination and Remuneration policy shall be placed on the website of the company, if any if a company is having NRC, Company’s policy on directors appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub-section (3) of section 178.
5. CSR policy: Details of the Corporate Social Responsibility Policy shall be provided in its report and on the website of the company.
6. Independent Director: As per Schedule IV, the terms and conditions of appointment of independent directors shall also be posted on the company‘s website.
7. Closure of Register:Closure of register of members or debenture holders or other security holders on the website of the Company.
8. General Meeting Notice: As per Rule 18 of Companies (Management and Administration) Rules, 2014 the notice of the general meeting of the company shall be simultaneously placed on the website of the company, if any.
9. Voting through Electronic Means: As per Rule 20 of Companies (Management and Administration) Rules, 2014 A Company which provides the facility to its members to exercise voting by electronic means.Notice of that meeting shall also be placed on the website, if any, of the company and of the agency forthwith after it is sent to the members.
10. Postal Ballot:As per Rule 22 of Companies (Management and Administration) Rules, 2014 the notice of the postal ballot shall also be placed on the website of the company also the results of postal ballot shall be declared by placing it, along with the scrutinizer‘s report, on the website of the company.
11. Notice of Candidature for Directorship: The company shall, at least seven days before the general meeting, inform its members of the candidature of a person for the office of a director or the intention of a member to propose such person as a candidate for that office- (1) by serving individual notices, (2) by placing notice of such candidature or intention on the website of the company, if any.
12. Resignation of Director: The Company shall within thirty days from the date of receipt of notice of resignation from a director post the information on its website.
13. Invitation for Deposit: Every company inviting deposits from the public shall upload a copy of the circular on its website.
14. Details of the Unpaid Dividend: The Company shall, within a period of ninety days of making any transfer of an amount to the Unpaid Dividend Account, prepare a statement containing the names, their last known addresses and the unpaid dividend to be paid to each person and place it on the website of the company.
15. Striking Off: In case of any application (Striking off application) made under sub-section (2) of section 248 of the Act, the company shall also place the application on its website, if any, till the disposal of the application.
Mandatory Website Disclosure for Public limited Company are:
1) Place the notice of the general meeting on the website of the company;
2) Disclose the details of the unpaid dividend including the names, the last known addresses of all those persons on the website of the company;
3) Provide details of the Corporate Social Responsibility Policy in its report and on the website of the company;
4) Place separated audited accounts in respect of each of its subsidiary on its website;
5) Any information about the resignation of the director must be placed on the website of the company within 30 days of the notice of the resignation;
6) The notice of “Change of objects for which money is raised through prospectus” must be placed on the website of the company;
7) Copy of circular of any invitation of deposits from the public must be on the website of the company;
8) Closure of register of members or debenture holders or other security holders;
9) Notice of the postal ballot;
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