Corporate Law : This piece explains that Independent Directors are not automatically liable, but face risk where knowledge, consent, or neglect is...
Company Law : Learn the role of Independent Directors (IDs) under the Companies Act, 2013, and SEBI LODR in ensuring good corporate governance....
Company Law : Erroneous MCA data classifying Independent Directors as 'Directors' leads to legal issues, prompting a systemic correction to prot...
Company Law : Resignations of Independent Directors raise concerns over their autonomy in promoter-led firms. A legal and governance review expl...
Company Law : A study on the role, challenges, and impact of independent directors in Indian corporate governance, highlighting reforms and gaps...
Company Law : 86% of Independent Director positions in CPSEs remain vacant. Govt follows a structured process for appointments through ministrie...
Company Law : ICSI requests amendments to Sections 204 & 149(6)(e)(ii)(A) of Companies Act,, to enable Company Secretaries in practice to be Ind...
Company Law : ICAI releases Technical Guide on the provisions of Independent Directors from Corporate Governance perspective Good Corporate Go...
Company Law : MCA on 28.09.2020, vide various circulars and notification extended the date of various schemes to 31.12.2020 which were launched ...
Company Law : Companies which do not have any of their Directors/Signatory details registered in the MCA2 1 system and who are desirous of filin...
Company Law : Delhi High Court orders MCA to review independent director's request for designation correction in official records to prevent und...
Fema / RBI : Madras High Court overturns wilful defaulter tag on former IAS officer, citing lack of evidence linking him to company's financial...
SEBI : Regulation 17(1A) is not applicable for the purpose of filling up a casual vacancy under Section 161(4) of the Companies Act. Reg...
Corporate Law : Sunita Palta & Ors. Vs. Kit Marketing Pvt. Ltd. (Madras High Court) Non-Executive Directors are, therefore, persons who are no...
Company Law : ROC Ahmedabad imposed penalties after finding prolonged non-compliance with mandatory Independent Director requirements. The rulin...
Company Law : The Registrar penalized the officer in default for failing to appoint the required number of independent directors within the pres...
Company Law : ROC Kolkata imposed penalties for failure to appoint the mandatory two Independent Directors within the prescribed timeline under ...
Company Law : ROC held that appointing an Independent Director for a third consecutive term violates section 149(11). Even voluntary disclosure ...
Company Law : ROC Ahmedabad levied penalties on a company and its Managing Director for delayed compliance with Section 149(4) and Section 172. ...
ROC Ahmedabad imposed penalties after finding prolonged non-compliance with mandatory Independent Director requirements. The ruling underscores that delay in board composition compliance attracts adjudication under Section 454.
The Registrar penalized the officer in default for failing to appoint the required number of independent directors within the prescribed timeline. The default continued until proper appointments were made.
ROC Kolkata imposed penalties for failure to appoint the mandatory two Independent Directors within the prescribed timeline under Section 149. The order clarifies that delayed compliance after conversion into a public company invites monetary penalty under Section 172.
ROC held that appointing an Independent Director for a third consecutive term violates section 149(11). Even voluntary disclosure did not shield the company and officers from maximum penalties under section 172.
This piece explains that Independent Directors are not automatically liable, but face risk where knowledge, consent, or neglect is established.
ROC Ahmedabad levied penalties on a company and its Managing Director for delayed compliance with Section 149(4) and Section 172. The ruling emphasizes timely appointment of independent directors.
ROC Ahmedabad imposes penalties for delayed appointment of independent directors, noting 81 days of non-compliance and directing payment under Section 172.
The ROC Ahmedabad penalized the company and its director for failing to appoint independent directors and constitute an audit committee within the mandated timeline. The order outlines the default period, penalty amounts, and compliance requirements.
ROC Kanpur has penalized GORDON HERBERT (INDIA) LIMITED ₹6,00,000 for failing to appoint an Independent Director as mandated by Section 149(4) of the Companies Act, 2013.
Learn the role of Independent Directors (IDs) under the Companies Act, 2013, and SEBI LODR in ensuring good corporate governance. IDs provide oversight, protect minority interests, and enhance transparency and accountability on the board.
