[vc_row][vc_column][vc_column_text]The retail industry in India is of late often being hailed as one of the sunrise sectors in the economy. AT Kearney, the well-known international management consultancy, recently identified India as the ‘second most attractive retail destination’ globally from among thirty emergent markets. It has made India the cause of a good deal of excitement …
[vc_row][vc_column][vc_column_text]As per the extant regulations, Foreign Direct Investment (FDI) is allowed in Companies incorporated in India, Partnership Firms, Proprietary concerns and Trusts either under Automatic route or with the prior approval of Government as applicable terms and conditions permit. A Limited Liability Partnership (LLP) is a partnership in which partners have limited liability. LLP is …
FDI In Limited Liability Partnership Partnership Firms And Its Concerns Read More »
[vc_row][vc_column][vc_column_text]Background: To enable development of relevant cost accounting methodologies and standards to increase the competitiveness of the Indian manufacturing sector, and to advise the Government on suitable measures for the same, a Group of Experts was constituted under the chairmanship of Shri B.B.Goyal, Cost Advisor. The Expert Group has reviewed the Cost Accounting Record Rules …
[vc_row][vc_column][vc_column_text]As most of us are aware, “XBRL” is the buzz word in the corporate world today, but with a veil to it, making it difficult to understand its practical implementation. Unless we step in, we do not know how cold the water is. This being the first phase of implementation, clouds of doubts are all …
[vc_row][vc_column][vc_column_text]The Ministry of Corporate Affairs(MCA) has issued Name Availability Guidelines, 2011, vide its notification dated 8th July, 2011. Purpose: The applicants and Registrar of Companies are advised to adhere to following guidelines while applying or approving a name: 1. A company cannot be registered with an undesirable name. (As per Section 20 of the Companies …
There is a pondering question in all of our minds that whether a Company Secretary can be held liable for wrong entries in the books of accounts or falsification of accounts of the company in discharge of his statutory duties or not ? By looking into various sections, judgments and Case Laws, I am of the …
Role of a Company Secretary in finalization of Accounts of a Company Read More »
us analyse it. Two things which have to be first answered are:- 1. Does the Companies Act, 1956 allow storage of Registers in the Electronic format? 2. Does the Companies Act, 1956 allow Maintenance of Registers at the place other than the Registered Office of the Company? Primarily we need to first examine the provisions of the …
Can Storage of Registers be in Electronic format, A big Dilemma! Read More »
Under the Companies Act, 1956, a company is required to maintain certain registers and records. There are some other registers and records, the maintenance of which is not statutorily required but is essential for the smooth, efficient and systematic functioning of the company. Some of the registers and records are required to be kept open by a …
Maintenance Of Registers And Records Under Companies Act, 1956 Read More »
Now we move on to the Information Technology Act, 2000. This act permits the maintenance of registers and records in electronic mode. Such registers and records should be maintained in accordance with the provisions of the said Act. The Information Technology Act, 2000 (the IT Act) was passed interalia to provide for electronic governance. Section 3 of …
Now we move on to the questions of admission of electronic records and transmissions in the law of evidence. Law presumes paper-based documents as proof of transactions. Difficulties arise when records are kept in the electronic forms. Law of Evidence has to ensure that electronic transmissions and electronic records will have the same value as paper based …
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