INTRODUCTION: The Companies (Amendment) Bill 2015 was recently passed in Rajya Sabha on 13th May 2015 and in Lok Sabha on 17th December, 2014. The Bill received the assent of the president on 25th May, 2015 and was published in official Gazette of India on 26th May, 2015. The Central Government has appointed May 29, 2015 as …
(A) Powers of Board (Section 179) Introduction: Section 179(1) of the Companies Act, 2013 i.e., powers of board, provides that board of directors of a company are entitled to exercise the following powers and to do all such acts as may be authorized by the Company: The above referred powers are subject to provisions specified …
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Introduction: Section 134 of the Companies Act, 2013 casts a responsibility on the Board of Directors to prepare a report containing details as discussed below and this report needs to be annexed to the Financial Statements which are laid before the members in the annual general meeting. Companies Act, 2013 also contains provisions regarding revision …
Boards’ Report under Companies Act, 2013-Check List Read More »
Prohibition of Anti-Competitive Agreement: No enterprise or association of enterprises or person or association of persons shall enter into any agreement in respect of production, supply, distribution, storage, acquisition or control of goods or provision of services, which causes or is likely to cause an appreciable adverse effect on competition within India. Effect of Anti-Competitive …
Anti–Competitive Agreements Pursuant To The Competition Act, 2002 Read More »
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 …
For larger participation of new category of overseas investor i.e. Qualified Foreign Investors (“QFIs“) to invest in Indian Secondary Market, both Securities and Exchange Board of India (“SEBI”) and Reserve Bank of India (“RBI”) has issued guidelines allowing overseas individual investors to invest up to $51 billion in corporate bonds and debt schemes of mutual …
Investment By Qualified Foreign Investor In Corporate Bonds Read More »
Introduction: Section 185 of the Companies Act, 2013 which has been notified on 12th September 2013 has replaced the old section 295 of the Companies Act, 1956 which provides for loans to directors. Section 185 now applies to all companies including private companies. Earlier private companies were exempted from the provisions of the old section …
Loans to Directors under Section 185 of Companies Act, 2013 Read More »
Globally, the year 2014 is considered as a year of repurchase revolution as Companies have been gobbling up their own shares at an exceptional rate. The year 2014 is on track to become the third-biggest year for buybacks ever. Apple, IBM, Intel, Merck, Oracle, WaltDisney, ebay, CISCO, Citrix, Boeing, JPMorgan Chase, Goldman Sachs are the …
Buy Back of securities of Unlisted Public Company under Companies Act, 2013 Read More »
Offence: As per section 3(38) of General Clauses Act, 1897 “Offence” shall mean any act or omission made punishable by any law for the time being in force. Compounding of offence: In today’s Corporate world, good governance means to comply with all the provisions of Corporate laws. Non compliance will result in penalties or penalties …
Compounding Of Offences – Section 441 Of Companies Act, 2013 Read More »
INTRODUCTION Companies Act, 2013 has unveiled a new era in the Indian Corporate Sector which places more reliance on disclosure norms rather than on approvals. One such area is “related party transactions” which is covered under Section 188 of Companies Act, 2013. As per Ministry of Corporate Affairs Notification dated 26th March, 2014, section 188 …
Related Party Transactions -Section 188 of Companies Act, 2013 Read More »
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