Amendments in Rules Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015: The Central Government has on 14th Dec, 2015 amended the Companies (Meetings of Board and its Powers) Rules, 2014. These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015: Rule 6A is inserted after …
Introduction of system-driven disclosures in securities market: The Securities Exchange Board of India (SEBI) vide Circular No. CIR/CFD/DCR/17/2015 dated 1st December, 2015 has adopted advanced systems relating to acquisition, sale and pledge of securities under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as “SAST Regulations”) and SEBI (Prohibition of …
Amendment in Regulations: Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2015: Reserve Bank of India has issued Notification No. FEMA. 359/2015-RB, dated 2nd Dec, 2015 further amending Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 by inserting the following provisos: a. Amendment to Regulation 21(2)(ii) After …
1. INTRODUCTION: eBiz is one of the integrated services projects and part of the 27 Mission Mode Projects (MMPs) under the National E-Governance Plan (NEGP) of the Government of India. eBiz is being implemented by Infosys Technologies Limited (Infosys). The focus of eBiz is to improve the business environment in the country by enabling fast …
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 »
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