Month: January 2015

Swiss Code of Best Practice for Corporate Governance

(To familiarise with the best practices on Corporate Governance & Corporate Laws) Committees of the Board of Directors Introduction: The Board of Directors should be small enough in numbers for efficient decision-making and large enough for its members to contribute experience and knowledge from different fields and to allocate management and control functions among themselves. …

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RESERVE BANK OF INDIA (RBI)

1. Overseas Investments by Alternative Investment Funds (AIF) Reserve Bank of India (“RBI”) has vide its Circular No.48 dated December 09, 2014, decided to permit an Indian Alternative Investment Fund (“AIF”), registered with SEBI, to invest overseas in terms of the provisions issued under the A.P. (DIR Series) Circulars No. 49 and 50 dated April …

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Securities Exchange Board of India (SEBI)

1. Redressal of investor grievances through SEBI Complaints Redress System (SCORES) platform: SEBI has vide its Circular No: CIR/OIAE/1/2014 dated December 18, 2014 re-issued the details of the centralized web based complaints redress system ‘SCORES’. The purpose of SCORES is to provide a platform for aggrieved investors, whose grievances, pertaining to securities market, remain unresolved …

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MINISTRY OF CORPORATE AFFAIRS (MCA)

The Companies(Cost Records and Audit) Amendment Rules, 2014: The Central Government has made an amendment to Companies (Cost Records & Audit) Rules, 2014. The rules are called Companies (Cost Records & Audit) Amendment Rules, 2014  and shall come into effect from 31st December, 2014. Application of Cost Records: Cost records for products and services shall …

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Telangana State Industrial Project Approval and Self-certification System (TS-IPASS) Act, 2014

Background: The Telangana Assembly unanimously passed its own industrial Act–Telangana State Industrial Project Approval and Self Certification System (TS-iPASS) Act, 2014 repealing the existing Andhra Pradesh State Industrial Single Window Clearance Act of 2002, with the objective of providing timely clearances to industrial units proposed to be set up in the new State. Purpose: To …

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Compliance Calendar as per the Listing Agreement for the Quarter ended on 31st December, 2014.

S. No Activities Sections /Rules /Clauses, etc. Acts / Regulations, etc. Compliance Due Date 1 Compliance Certificate on Corporate Governance.   [Note : 1 Refer penalty table below] Clause 49 Listing Agreement 15th January, 2015 2 Shareholding Pattern.   [Note : 2 Refer penalty table below] Clause 35 Listing Agreement 21st January, 2015 3 Submission …

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Insight on Section 192 & Section 194 of Companies Act -2013

The Companies Act, 2013 has introduced some new Concepts which were not present in 1956 Act. Restriction on Non- Cash Transactions Involving Directors (Section 192) Restriction and Legal requirements:-No Company shall enter into an arrangement by which:- a director of the company or its holding, subsidiary or associate company or a person connected with him …

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