Facts of the case: Tata Oil Mills Co. Ltd amalgamated with Hindustan Lever Ltd [HLL] under a scheme of amalgamation, which was sanctioned by the Court. On presentation of the certified copy of the Court’s order the Registrar of Companies, Maharashtra issued a certificate of amalgamating of the two companies. The authorities under the Bombay …
Hindustan Lever & another Vs. State of Maharashtra & another Read More »
The month of November started with preparations to celebrate Diwali, one of the biggest festivals in the year but the festivities were somewhat dampened as Swachch Bharat Cess was added to Service Tax. This year has seen an unprecedented rainfall in various parts of the country, especially in Orissa, Assam, Tamilnadu and Andhra Pradesh. Unfortunately, …
Circulars: Format for Voting Results: SEBI has in exercise of the powers conferred under Regulation 44(3) read with Regulation 101(2) of Listing Regulations, vide Circular No – CIR/CFD/CMD/8/2015 dated 04.11.2015 specified the format of Voting Results prescribed under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in Annexure I to the …
Amendment in Regulations: Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015: Reserve Bank of India has in consultation with the Central Government issued Notification No. FEMA. 345/2015-RB, dated 16.11.2015 further amending Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 by substituting the existing Explanation (i) in sub-regulation (b) of Regulation 4 …
Amendment in Rules: Companies (Share Capital and Debentures) Third Amendment Rules, 2015: Central Government has in exercise of the powers conferred by sub-sections (l) and (2) of section 469 of the Companies Act, 2013 (18 of 201 3) on 06.11.2015 further amended Companies (Share Capital and Debentures) Rules, 20l4 by adding sub-clause (iv) in sub-rule …
S. No. Particulars Companies Act, 2013 Companies Act, 1956 1. Compulsory Internal Audit Sec.138. Prescribes companies of a particular class to appoint an Internal auditor who can be a CA or CWA or of any other professional as may be decided by the Board. No Such Provision existed 2. Rotation of Statutory Auditors Sec.139(3): Members …
Audit & Auditors – Companies Act, 2013 vs. Companies Act, 1956 Read More »
Meaning of Dividend:The term ‘dividend’ has been defined under Section 2(35) of the Companies Act, 2013. The term “Dividend” includes any interim dividend. It is an inclusive and not an exhaustive definition. According to the generally accepted definition, “Dividend” means the profit of a Company, which is not retained in the business and is distributed …
The New Zealand Corporate Governance Forum Guidelines (“Guidelines”) are designed as a contemporary governance reference for shareholders, chairpersons, directors and senior executives of listed companies. The broad principles laid down in these Guidelines pertain to: Ethical standards; Board composition and performance; Board Committees; Reporting and Disclosures; Remuneration; Risk Management; Auditors; Shareholders Relations; Stakeholders Relations. This …
S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th December 2015 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th December 2015 3 Monthly return for production and removal of goods and other relevant particulars and CENVAT credit Form …
Labour Law & other Compliance’s for the month of December, 2015 Read More »
Introduction Foreign Trade can be understood as exchange of goods and services across International Territories and Borders. This exchange of goods and services between India and various other countries is usually regulated by the Government of India, in the form of a written plan of action rationalizing the course of action of the Government. In …
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