Corporate Law : In order to protect the sanctity of the CIRP, the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 lays down a strict pr...
Company Law : On 29.12.2017, vide General Circular No. 16/2017, a Condonation of Delay Scheme, 2018 (CODS-2018/Scheme) has been introduced by MC...
Corporate Law : Insolvency Professional Agency means any person registered with the Board under section 201 of the Code as an Insolvency Professio...
Corporate Law : Article gives An insight on notified provisions of Insolvency and Bankruptcy Code 2016- A CODE THAT PROMISES VIVID FUTURE TO DEBT ...
Company Law : Under the Companies Act, 2013, the whole concept of related party transactions has been capsulated in a single section, namely Sec...
Under the Companies Act, 1956, the Companies registered u/s the erstwhile Section 25 of the said Act (Section 8 under the Companies Act, 2013) enjoyed certain privileges by means of non applicability of certain specific provisions of the Companies Act, 1956. With the introduction of the Companies Act, 2013, these exemptions had stood withdrawn and these Companies were also being treated on par with any other Public or Private Company barring minimal reliefs which were granted in the Act itself, like relief in not affixing the word Private Limited or Public Limited in their name.
The Ministry of corporate Affairs has released the much awaited exemptions for Private Companies, Government Companies, Nidhi Companies and Companies registered under Section 8 of the Companies Act, 2013 (Act). Since the introduction of the Companies Act, 2013 in September 2013, these companies were reeling under the pressure of the rigorous provisions of the Act and the compliances required therein.
CS S. Dhanapal Rise Of The Era Of Shareholder Primacy (Covering Evoting – Poll – Postal Ballot under the Companies Act, 2013 and Listing Agreement) E-VOTING Companies Act, 2013 for the first time had mandated electronic voting for all listed companies and other unlisted public companies having not less than 1000 shareholders and the AGMs […]
Provisions regarding registered office of a company are primarily contained in Section 12 of the Companies Act, 2013. As per Section 12, every company is required on and from the 15th day of its incorporation and at all times thereafter to have a registered office which is capable of receiving and acknowledging all communications and notices as may be addressed to it.
Companies Act, 2013 seems to have laid lot of emphasis on audit which is evident from the fact that it has prescribed four different kinds of audits for companies, namely, Financial Audit, Internal Audit, Secretarial Audit and Cost Audit. In its pursuit of increasing the effectiveness of audit to reach high degree of corporate governance, the Act has also well laid out the powers as well as the roles and responsibilities of the auditors
Consequent to the enactment of Companies Act, 2013, Securities and Exchange Board of India (SEBI) has announced some amendments in the listing agreement vide its Circular Number CIR/CFD/POLICY CELL/2/2014 dated 17th April, 2014. More specifically, amendments have been made to Clause 35B and 49 of the listing agreement with the objective to align the listing agreement with the provisions of the Companies Act, 2013, to adopt best practices on corporate governance and to make the corporate governance framework more effective.
Companies Act, 2013 (Act) has introduced many new concepts and Key Managerial Personnel is one of them. While the Companies Act, 1956 recognised only Managing Director, Whole Time Director and Manager as the Managerial Personnel, the Companies Act, 2013 has brought in the concept of Key Managerial Personnel which not only covers the traditional roles of managing director and whole time director but also includes some functional figure heads like Chief Financial Officer and Chief Executive Officer etc.
Companies Act, 2013 has unveiled a new era in the Indian Corporate Sector which places more reliance on disclosure norms rather than on approvals. One such area is related party transactions. While the Companies Act, 1956 warranted approval of Central Government for related party transaction by large cap companies, Companies Act, 2013 calls for larger disclosures with members’ approval.
Corporate Social Responsibility (CSR) has been in existence for a long time and is almost as old as civilization. It is based on the Gandhian Principle of trusteeship concept whereby business houses are looked upon as trustees of the resources they draw from society and thus are expected to return them back manifold.
Amounts which are not considered as deposits (Rule 2 of Companies (Acceptance of Deposits) Rules, 2014) – any amount received from the Central Government or a State Government, or any amount received from any other source whose repayment is guaranteed by the Central Government or a State Government, or any amount received from a local authority, or any amount received from a statutory authority constituted under an Act of Parliament or a State Legislature.
