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 the corporate governance. Need of Compliance Management “To promote self-discipline” “To exercise self-control” Significance Apart from avoiding the risks of non-compliance, there...Continue Reading

Background: The Committee on Corporate Governance was constituted by SEBI in June 2017, under the Chairmanship of Mr. Uday Kotak, to make recommendations to SEBI for improving standards of corporate governance of listed entities in India. The Committee submitted its report detailing several recommendations on October 5, 2017; was placed on the SEBI website for public comments. Few recommendations...Continue Reading

         Section No.         Amendment         Impact   Section 96 Annual General Meeting   It is proposed that Annual General Meeting (‘AGM’) of unlisted company may be held at anyplace in India if consent is given is writing or by electronic mode by all the members...Continue Reading

Introduction and Objective of Companies (Amendment) Act, 2017   The Companies Amendment bill, 2017 was passed by Lok Sabha and Rajya Sabha on 27th July, 2017 and 19th December, 2017 respectively. The Bill received President’s assent on 03rd January, 2018 and becomes the Companies (Amendment) Act, 2017.   OBJECTIVE: Simplification of compliances Facilitating ease of...Continue Reading

Types Of Dividend       Payment Of Dividend ( Section 123 and 124)    Continue Reading

MCA has recently notified Sections 248 to 252 of Companies Act, 2013, w.e.f 26.1.2.2016 and also issued new rules for striking off names of companies referred as Companies (Removal of Names of Companies from the Registrar of Companies) Rules, 2016. The said rules are also effective from 27th December, 2016. INSTANCES FOR STRIKING OFF NAME...Continue Reading

Section 143(11) of the Companies Act, 2013 requires that Auditor report of specified classes of Companies should disclose the compliance on the specified matters. These reporting requirements have been prescribed under Companies (Auditor’s Report) Order, 2016 (CARO, 2016).   This is a step in the right direction to improve the quality of the Auditor’s Report...Continue Reading

Director’s Report has been an integral part of the financial statement of the Company. With the implementation of Companies Act, 2013, the Director’s Report has become synonymous to disclosing every activity that a Company indulges in thus providing mirror image of the Company’s actions during the financial year. In Companies Act, 2013, lot of sections...Continue Reading