Delegation of powers under section 458 of CA 2013 to Regional Director In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), Central Government has delegated to the Regional Directors at Mumbai, Kolkata, Chennai, Noida, Ahmedabad, Hyderabad and Shillong, the power and functions vested in it under the […]
MINISTRY OF CORPORATE AFFAIRS (MCA) Read More »
Word : malfeasance Meaning : intentionally doing something either legally or morally wrong which one had no right to do. It always involves dishonesty, illegality or knowingly exceeding authority for improper reasons. Malfeasance is distinguished from “misfeasance,” which is committing a wrong or error by mistake, negligence or inadvertence, but not by intentional wrongdoing.
Introduction: To make the listed companies more transparent and to align the provisions related to Listing Agreement with the Companies Act, 2013, Capital Market Regulator, SEBI has amended Clause 49 of Listing Agreement. The said amendments will be effective from 1st October 2014. We have done a comparative analysis on the same: Particulars Clause 49
COMPARITIVE ANALYSIS OF Clause 49 of SEBI Listing Agreement with COMPANIES ACT, 2013 Read More »
INTRODUCTION: Minutes, are notes or the instant written record of a meeting or hearing. It serves as a record or as an important source of information. People referring to it, assume it to be correct on the face of it. There is a statutory obligation on the Corporates under Companies Act, 2013 to record the
Minutes of Meetings – not a Conclusive Evidence Read More »
S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th June, 2014 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th June, 2014 3 Monthly return for production and removal of goods and other relevant particulars and CENVAT
Labour Law & other Compliance’s for the month of June, 2014 Read More »
Section 73-76 read with Companies (Acceptance of Deposit) Rules, 2014 Deposit – includes any receipt of money by way of deposit or loan or in any other form, by a company. Depositor – Any member who has made a deposit with the Company. Any person who has made a deposit with the Company under Section
Overview on Acceptance of Deposits Under Companies Act, 2013 Read More »
Change Factor Listing Agreement – Clause 49 Companies Act, 2013 – Section 149 Composition of Board If chairman is Executive Director – at least 50% of the board to be independent directors. If Chairman is non-executive Director – at least 1/3rd of the Board to be independent directors. In case of listed Companies, 1/3rd of
INDEPENDENT DIRECTORS – COMPARISION BETWEEN LISTING AGREEMENT AND COMPANIES ACT, 2013. Read More »
CIVIL APPEAL NO. 6041 OF 2013 Appellant Securities and Exchange Board of India Respondent Mb. Akshya Infrastructure Pvt. Ltd. Appeal was directed against the judgment and final order of Securities Appellate Tribunal, Mumbai (SAT) dated 19th June, 2013. The fundamental issue which arose in this appeal was whether an open offer voluntarily made through a
Securities and Exchange Board of India Vs. Mb. Akshya Infrastructure Pvt. Ltd. Read More »
Word : Non est factum Origin: Latin Meaning: not my act. This is a denial by a person that they were actually involved in some action or dealings. In a contract, it can occur if a party denies that they signed the contract – that someone else forged their signature. Word : Sunset clause Origin:
Ministry of Corporate Affairs is notifying the Act and the Rules with lightning speed. After notification of majority of sections and rules, these have caught the professional and corporate sector in a whirlwind. We have tried to give below a background of important provisions of Companies Act, 2013 pertaining to meetings of Boards and Auditors.
Overview of the provisions relating to Board & Auditors Under Companies Act, 2013 Read More »