IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers on compliance, audit requirements, and financial reporting clarity.
The ROC imposed penalties for non-compliance with mandatory woman director requirements. The ruling highlights strict enforcement of Section 149(1) based on turnover criteria.
A prolonged violation of Independent Director requirements led to penalties on both the company and its officer. The ruling underscores consequences of continuous default under corporate law.
The issue involved non-compliance with Section 150(1) due to improper appointment of an independent director. The authority held the company and officer liable, emphasizing mandatory selection from the IICA databank.
The ROC imposed penalties for appointing an Independent Director not listed in the IICA databank. The ruling highlights strict compliance with eligibility requirements under Section 150(1).
The ROC penalized the company for not appointing an Independent Director from the IICA databank. The ruling highlights strict compliance requirements under Section 150(1) of the Companies Act.
The authority penalized the company for delayed filing of MGT-6 beyond the prescribed timeline. It held that even a short delay constitutes a violation under Section 89(7).
The authority penalized the company for failing to file MGT-14 within 30 days of passing a resolution. It held that delayed compliance still attracts penalties under Section 117(2).
A massive delay in filing BEN-2 for significant beneficial ownership led to maximum penalties. The authority held that prolonged non-compliance attracts strict penal consequences.
The ROC held that no penalty is leviable as the company filed its annual return within 30 days of the notice. The ruling highlights that timely compliance can nullify penal consequences under the Companies Act.
