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The compounding provision in the Act were inserted by the Companies Amendment Act, 1988 on the recommendation of the SACHAR COMMITTEE as amended by the Companies (Amendment) Act, 2000. It was felt that leniency is required in the administration of the provisions of the Act particularly penalty provisions because a large number of defaults are of technical nature and arise out of ignorance on account of bewildering complexity of the provisions[2].
Process for Approval of Central Government (Regional Director) where the instrument creating or modifying a charge is not filed within a period of 300 days from the date of its creation or modification and where the satisfaction of the charge is not filed within 30 days from the date on which such payment of satisfaction.
In case of Companies Act, is the board required to approve all related party transactions from audit committee? [1]The Companies Act 2013 prescribes that a company needs approval of the audit committee on all related party transactions and subsequent modifications thereto. Section 177(4) (iv). [2]Provided that the Audit Committee may make omnibus approval for related party transaction proposed to be entered into by the company subject to conditions given below.
Compliance Calender As Per Sebi Listing Regulations S. N. Regulation No. Particular of Regulation Time Period of filing of Certificate COMMON OBLIGATIONS TO LISTED ENTITY 1. 7(3) Submission a Compliance Certificate to the Exchange Submission of Compliance Certificate to Stock Exchange certifying that all activities in relation to both physical and electronic share transfer facility […]
Analysis of Regulation 33 to 38 of Chapter IV SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) related to Financial results, Annual Report, Annual Information Memorandum, Documents & Information to shareholders, Draft Scheme of Arrangement & Scheme of Arrangement and Minimum Public Shareholding.
Analysis of Chapter -X nd XI of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) related to Dissemination, Transferability, Draft Scheme of Arrangement & Scheme of Arrangement, Form B accompanying Annual Audit Report, Grievance Redressal & Monitoring of Compliance/Non Compliance & Adequacy/ Accuracy of the disclosures, Procedure for Action In Case Of Default, […]
Analysis of Regulation 42 to 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) related to Record Date or Date of closure of transfer books, Dividends and Voting by shareholders.
Analysis of Chapter IV of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) related to OBLIGATIONS OF LISTED ENTITY WHICH HAS LISTED ITS SPECIFIED SECURITIES Now, Securities and Exchange Board of India took direct regulatory role over the listed entities in India. Securities and Exchange Board of India notified in official gazette its […]
Analysis of Regulation 24 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) related to Corporate governance requirements with respect to subsidiary of listed entity.
Condition for Related Party Transaction: Prior approval of the audit committee is required and omnibus approval may be given.(sub regulation 2). All material related party transactions shall require approval of the shareholders through a resolution. (sub regulation 4) Related parties shall abstain from voting on such resolutions, whether the entity is a related party to the particular transaction or not – Regulation 23(4). (sub regulation 4)
