REGISTRATION OF ENTITIES FOR UNDERTAKING CSR ACTIVITIES MODE OF CSR ACTIVITIES [Rule 4(1) of Companies (Corporate Social Responsibility Policy) Rules, 2014] A company can undertake the CSR activities in two ways: On its own or;Through any specified entity SPECIFIED ENTITY a Company established under section 8 of the Companies Act, or a registered public trust or a registered...Continue Reading

The Finance Act 2020 introduced the new registration procedure for all the existing charitable and religious institutions (including NGOs) which are registered or approved. They are compulsorily required to switch to section 12AB for fresh registration in order to continue availing exemption under section 10 or 11, as the case may be. CBDT vide Notification...Continue Reading

Six months into 2021 and a lot of dead bodies have flown down the Ganga! The rot has set into personal, emotional, and economic environment. With most businesses down and the wheels of fortune jammed, the government has very little options to raise funds. Let us look at what is happening. The direct tax collection...Continue Reading

Wednesday, 03 March 2021 The role of Independent Director (ID) as per SEBI seems to be that of a watchdog. The proposed changes has recommended changes to rules regarding eligibility criteria, appointment and removal, and the remuneration criteria. We will not discuss the arbitrary decisions of SEBI or the role that they themselves play in...Continue Reading

Ministry of Corporate Affairs (MCA) issued a notification on 18th March 2021, for carving out remuneration to be paid to the non-executive or Independent Directors of companies that are either loss-making or have inadequate profits. This notification amended Schedule V of the Companies Act, 2013. The remuneration has now been linked to ‘effective capital’. Where...Continue Reading

Long bygone are the days when men used to be the sole bread-winners of a family. Globalization has brought a radical change in the status of women worldwide. However, with the larger influx of women in the mainstream workforce of India, sexual harassment at workplace has assumed greater dimensions.  Workplace sexual harassment is a form...Continue Reading

The Ministry of Home Affairs, vide notification dated, 4th March 2021, defined the rights of the Overseas Citizen of India – cardholder (OCI). It has mandated that every OCI: Would require a special permission or special permit from a competent authority, or, Foreign Regional Registration Office (FRRO) or the Indian Mission concerned.This will be needed...Continue Reading

The Micro, Small & Medium Enterprises (MSMEs) are defined in India under the MSMED Act 2006 on the basis of capital investment made in plant and machinery, excluding investments in land and building. BASISMICROSMALLMEDIUMManufacturing SectorRs.2.5 MillionRs.2.5 Million to Rs.50 MillionRs.50 Million to Rs.100 MillionService SectorRs.1.0 MillionRs.1.0 Million to Rs.20 MillionRs.20 Million to Rs.50 Million There...Continue Reading

Background Securities and Exchange Board of India (“SEBI”) vide its notification dated 16th June, 2020 has issued the Substantial Acquisition of Shares and Takeovers (Amendment) Regulations, 2020 (“SAST”) under which promoters are provided with relaxation of holding more than 25% of the stake in listed companies upto 35% without triggering an open offer obligation.  Key...Continue Reading

AMENDMENT IN COMPANIES (MEETING OF BOARD AND ITS POWERS) RULES, 2014 Background Ministry of Corporate Affairs (“MCA”) vide its Circular dated 15th June, 2021 has issued Companies (Meeting of Board and its Powers) Amendment Rules, 2021 and has omitted Rule 4 of the Companies (Meeting of Board and its Powers) Rules, 2014 furthermore has provided...Continue Reading