directors

AI – Director..The New Paradigm of Director Role

Finance - AI-DIRECTOR Stands for Artificial Intelligence Director The world lacks leaders as traditional knowledge makes the leaders of no use. The director’s qualification in the companies ACT is legal framework but in real terms, the definition needs to be broad-based. The role of the directors and the board composition will be one of the bigge...

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Analysis of Law of Principle of Proportional Representation for Appointment of Directors

Finance - As per the scheme of the Company jurisprudence the appointments of directors at the meetings of the shareholders are done through simple majority. Therefore the simple majority has the right to elect all the directors and a substantial minority cannot succeed in placing a even a single director on the Board....

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Rights, Duties, Powers And Accountabilities of Part-Time Directors

Finance - A Director includes any person occupying the position of Director, by whatever name called [Sec.2 (13)]. Directors occupy a key position in the management of the company. While they are entrusted with wide powers they are also accountable to the company....

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Independent Directors — Corporate governance in challenging times

Finance - While in most of the countries in the world, the top executives are trying to survive their jobs and positions and while this is the first time when maximum CEOs are hated by their shareholders, the independent Directors are trying to run away from their current position. One of the reports of Economic Times says that, since Satyam scanda...

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ICAI president advocates more power for chartered accountants

Finance - Uttam Prakash Agarwal, president of Institute of Chartered Accountants of India (ICAI), has been in focus lately, handling queries on the role of auditors in the Satyam Computer fiasco. Agarwal, who is also chairing the six-member high-level committee set up by ICAI to look into the Satyam scandal, talked to Vivek Seal of DNA on […...

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Directive on Women Director : 1332 Companies not Complied

Finance - The requirement of appointment of woman director emanates from Section 149 of Companies Act, 2013. SEBI has mandated that listed companies to appoint one woman director on its board. Companies can appoint any woman as director who is not otherwise disqualified for appointment as a director in terms of requirements of the Companies Act, ...

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Independent Directors liable for penal action (including for frauds)

Finance - The concept of Independent Director has been proposed in the Companies Bill, 2009. Clause 147 of the Bill, provides for duties of directors which include the duty to act in good faith in best interest of company, to act with due and reasonable care, skill and diligence, to avoid any conflict of interest, to desist from achieving any undue...

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Working of independent Directors in Central Public Sector Enterprises

Finance - The Government has said that the Department of Public Enterprises has so far not issued any guidelines regarding the assessment of working of non-official Directors on the Board of Central Public Sector Enterprises (CPSEs)....

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Role of independent directors will be clarified in new Companies Bill

Finance - The role of independent directors (IDs) on the board of Indian companies will be clarified in the new Companies Bill and their responsibilities will be made finite in terms of what they are answerable for, said Union Corporate Affairs Minister Salman Khurshid....

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Selection & appointment of independent directors in state-owned companies may get easier

Finance - A parliamentary panel of experts studying the new Companies Bill is likely to come up with suggestions in this regard, said a corporate affairs ministry official, requesting anonymity. The development assumes significance in the wake of the government’s renewed efforts to quicken the share sales of many state-owned firms that are hamstr...

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Director not responsible for cheques issued after his resignation -section 141 of Negotiable Instruments Act, 1881

Harshendra Kumar D Vs Rebatilata Koley Etc. (Supreme Court of India) - These 18 appeals, by special leave, are directed against he common judgment and order dated September 6, 2007 passed by Calcutta High Court whereby 18 criminal revision applications filed by the appellant for quashing the proceedings initiated by the...

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AOC-4 certification by CA, CS, CMA & Revised fees for DIN allotment & Surrender

G.S.R. 1049(E). - (07/11/2016) - AOC-4 certification by the Chartered Accountant or the Company Secretary or as the case may be by the Cost Accountant, in whole- time practice...

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Circular on Applicability of service tax on commission paid to Managing Director/Directors by the company

Circular No. 115/09/2009 - ST - (31/07/2009) - Payments termed as ‘commission’ made to a Managing Director/ Directors, whether whole-time or independent, would not be ‘commission’ as envisaged under the Service Tax category of Business Auxiliary Services. Hence, payments of commission made to the Managing Director/ Directors would not be...

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Recent Posts in "directors"

AI – Director..The New Paradigm of Director Role

AI-DIRECTOR Stands for Artificial Intelligence Director The world lacks leaders as traditional knowledge makes the leaders of no use. The director’s qualification in the companies ACT is legal framework but in real terms, the definition needs to be broad-based. The role of the directors and the board composition will be one of the bigge...

Read More
Posted Under: Service Tax |

AOC-4 certification by CA, CS, CMA & Revised fees for DIN allotment & Surrender

G.S.R. 1049(E). (07/11/2016)

AOC-4 certification by the Chartered Accountant or the Company Secretary or as the case may be by the Cost Accountant, in whole- time practice...

Read More

Directive on Women Director : 1332 Companies not Complied

The requirement of appointment of woman director emanates from Section 149 of Companies Act, 2013. SEBI has mandated that listed companies to appoint one woman director on its board. Companies can appoint any woman as director who is not otherwise disqualified for appointment as a director in terms of requirements of the Companies Act, ...

Read More
Posted Under: Service Tax |

Analysis of Law of Principle of Proportional Representation for Appointment of Directors

As per the scheme of the Company jurisprudence the appointments of directors at the meetings of the shareholders are done through simple majority. Therefore the simple majority has the right to elect all the directors and a substantial minority cannot succeed in placing a even a single director on the Board....

Read More
Posted Under: Service Tax |

Independent Directors liable for penal action (including for frauds)

The concept of Independent Director has been proposed in the Companies Bill, 2009. Clause 147 of the Bill, provides for duties of directors which include the duty to act in good faith in best interest of company, to act with due and reasonable care, skill and diligence, to avoid any conflict of interest, to desist from achieving any undue...

Read More
Posted Under: Service Tax |

Director not responsible for cheques issued after his resignation -section 141 of Negotiable Instruments Act, 1881

Harshendra Kumar D Vs Rebatilata Koley Etc. (Supreme Court of India)

These 18 appeals, by special leave, are directed against he common judgment and order dated September 6, 2007 passed by Calcutta High Court whereby 18 criminal revision applications filed by the appellant for quashing the proceedings initiated by the...

Read More

Working of independent Directors in Central Public Sector Enterprises

The Government has said that the Department of Public Enterprises has so far not issued any guidelines regarding the assessment of working of non-official Directors on the Board of Central Public Sector Enterprises (CPSEs)....

Read More
Posted Under: Service Tax |

Role of independent directors will be clarified in new Companies Bill

The role of independent directors (IDs) on the board of Indian companies will be clarified in the new Companies Bill and their responsibilities will be made finite in terms of what they are answerable for, said Union Corporate Affairs Minister Salman Khurshid....

Read More
Posted Under: Service Tax |

Selection & appointment of independent directors in state-owned companies may get easier

A parliamentary panel of experts studying the new Companies Bill is likely to come up with suggestions in this regard, said a corporate affairs ministry official, requesting anonymity. The development assumes significance in the wake of the government’s renewed efforts to quicken the share sales of many state-owned firms that are hamstr...

Read More
Posted Under: Service Tax |

Provision to Appoint Independent Directors governed by clause 49 of the Listing Agreement not by Companies Act

The Government has said that the Companies Act, 1956 does not provide for appointment of Independent Directors. But, as per clause 49 of the Listing Agreement, all the listed companies are required to appoint Independent Directors. Giving this information in written reply to a question in the Lok Sabha today, the Minsiter for Corporate Af...

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Posted Under: Service Tax |

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