Company Law : Learn how to enroll in the Independent Directors Data Bank. Follow the step-by-step process and understand the benefits and requir...
Company Law : Explore the responsibilities and duties of an independent director in a company, including governance standards, risk management, ...
SEBI : Delve into India's corporate governance evolution since the 1991 economic crisis, focusing on the role of independent directors. E...
Company Law : Explore vital provisions related to independent directors under Companies Act 2013 & SEBI regulations. Learn about eligibility, ex...
Company Law : Detailed steps for appointment of independent directors under Companies Act 2013. From databank selection to statutory disclosures...
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 : The concept of Independent Director has been proposed in the Companies Bill, 2009. Clause 147 of the Bill, provides for duties of ...
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 : Khed Developers' appeal against the penalty for lacking independent directors was denied. The Rs. 9.75 lakh penalty remains, reaff...
Company Law : Read about the MCA penalty on Shareway Securities Limited for failing to appoint independent directors under Companies Act, 2013. ...
Company Law : The MCA penalizes Best & Crompton Engineering Projects Limited Rs. 7 lakh for failing to appoint independent directors as required...
Company Law : Explore the adjudication order against KHED DEVELOPERS LIMITED by the Office of the Registrar of Companies, Maharashtra. Penalties...
Company Law : The Ministry of Corporate Affairs (MCA) has imposed penalties on United Telecoms Limited for violations related to an Extraordinar...
Independent Director – A Brief Introduction About Eligibility, Powers, Appointment Terms An Independent Director has always been a person of high regard and intellect, he is always been a person who is a face of governance in the Board. An independent director is a non-executive director of a company who meets the criteria of being […]
India predominantly consists of a large number of promoter- led companies with controlled interest i.e. Family businesses with fewer than 30% of businesses surviving the third generation ownership. More than 23% of the board directors are family members which may lead to promoter interest taking precedence over that of other stakeholders and cause governance concerns.
Remuneration to Non Executive and Independent Director (NED & ID) after 18th March 2021 ♦ Non- Executive and Independent Director brings governance, transparency, independent and fair view in the Board and they are much needed in a company having losses. However Section 197 of the Companies Act, 2013 (CA 13), provided that the company can […]
Since the time immemorial, the independent directors have been acting as a catalyst in ensuring highest level of corporate governance in the corporate sector. The enormous responsibility bestowed upon the independent directors is to maintain an ethical code of conduct and uphold the integrity in the organization in these exigent times. However, no one can dissent to the fact that these directors have to perform actions with reasonable care and due diligence and have to undertake huge liability in case of any contraventions and negligence.
Meaning of Independent Directors and their Meeting thereof as per Companies Act, 2013 Independent Director help in bringing Independent judgement and act as a bridge between management and shareholders by encouraging the principles of Corporate Governance through providing transparency, accountability and disclosures in the working of the Company and assist the Company in implementing the […]
An attempt is made to create a Practical Hand Book for the benefit of Independent Directors to effectively deal with the implicit and explicit challenges being posed on them by regulatory authorities as well as society in general. First part as follows is dedicated to Budget or Business Plan Presentations to Audit Committee. Part 1 […]
Remuneration To Managerial Person or Person And Other Director As Per Schedule V of The Companies Act, 2013 As Amended W.E.F 18/03/2021. SCHEDULE V OF COMPANIES ACT, 2013 PART I CONDITIONS TO BE FULFILLED FOR THE APPOINTMENT OF A MANAGING OR WHOLE TIME DIRECTOR OR MANAGER WITHOUT THE APPROVAL OF THE CENTRAL GOVERNMENT APPOINTMENTS. A […]
MCA notifies amendment in Section 149(9) (Remuneration of Independent Director In case of absence or inadequate profits) & 197 (Overall Maximum Managerial Remuneration and Managerial Remuneration in Case of Absence or Inadequacy of Profits) of Companies Act 2013 by notifying section 32 & 40 of Companies Amendment Act, 2020 with effect from 18.03.2021. A. Amendment […]
MCA notifies maximum Remuneration payable by companies having no profit or inadequate profit to other director or directors (non-executive director or an independent director) by amending Schedule V of the Companies Act, 2013. Earlier the limit was only for managerial person. Also Read-MCA notifies amendment in Section 149 & 197 of Companies Act 2013 Government […]
Independent Directors – Online Proficiency Self-Assessment Test Introduction Independent Directors play an important role of a watchdog. They ensure that the cases of corporate misgovernance do not occur. Independent Directors or Non-Executive Directors join the board of directors in different capacities. They come from different backgrounds and have diverse skill sets. There is also an […]
