Independent Directors to get registration on Databank Background Ministry of Corporate Affairs (“MCA”) vide its notification dated 29th April, 2020 has issued the Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020 which extended the period for registration of Independent Directors in the Databank from “Five” (5) months to “seven” (7) months effective from...Continue Reading

Background Securities and Exchange Board of India (“SEBI”) vide its notification dated 16th June, 2020 has issued the “Issue of Capital and Disclosure Requirements (Amendment) Regulations, 2020” (“ICDR”) under which time line of raising the funds through issuance of Equity Shares by way of Qualified Institutions Placement (QIP) has been reduced from six months to...Continue Reading

INTRODUCTION It has been observed that due to applicability of additional fee on late filing, which in case of inordinate delay could actually become a financial burden, a large number of Limited Liability Partnerships (LLPs) have remained non-compliant, mainly on account of their inability to pay late fees for the cumulative period of delay. As...Continue Reading

Ministry of Labour and Employment, Government of India has conveyed its firm intent that forty-four central legislations pertaining to labour, industrial and environment-related will be merged and subsumed into four codes. The first code (i.e. Code on wages, 2019) has already become law on August 08, 2019, after receiving the assent of the President of...Continue Reading

The new wage code was to be implemented from April 1, but the Ministry of Labour postponed it. Media reports said that if the same is implemented from 1st July, then there can be a big change in the salary structure. Once the wages code comes into force, there will be significant changes in the...Continue Reading

Independent directors have a crucial role to play for keeping good governance practices.  Ministry of Corporate Affairs (“MCA”) along with Indian Institute of Corporate Affairs (IICA) has developed a databank of Independent Directors in accordance with the provisions of Section 150 of the Companies Act, 2013. APPLICABILITY: Individual already acting or aspiring to become Independent...Continue Reading

 Under the Labour Codes A fixed-term contract means a contract entered by the employer with each individual employee for a fixed period. This period is stipulated in the contract of employment and may be renewed after expiry depending on the requirements of a particular role. Initially Fixed term employment was introduced in 2018 by amending the Central Rules...Continue Reading

KEY TAKEAWAYS: CONSUMER PROTECTION ACT, 2019     The Digital Age has ushered in a new era of commerce and digital branding, as well as a new set of customer expectations. Digitisation has provided easy access, a large variety of choice, convenient payment mechanisms, improved services and shopping as per convenience. However, along the growth...Continue Reading

DISRUPTIVE PATRIOTISM Every citizen, resident, non-resident, naturalised or otherwise, straight, LGTB, of whatever religion, belief, ethnicity, or non-belief, whether ‘challenged’ or not, born through a natural process or otherwise, has to adhere to the constitution. This is a social contract. The social contract defines our duties, responsibilities and of course, our rights. Hence, it defines...Continue Reading

Corporate Compliance Management A statement by the management on the attitude of one and all in an organization plasticised in letter and spirit. It is not only a statutory requirement but also a necessity to strengthen corporate governance. Need of Compliance Management “To promote self-discipline”“To exercise self-control” Significance Apart from avoiding the risks of non-compliance,...Continue Reading