I. Introduction: There are around 1.5 lakh dormant companies presently in India as per the government data some of which are either incorporated for future projects or to hold asset or Intellectual Property Rights. Some are yet to commence operations while some have been non operational for a long period of time. However, dormant companies …
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 …
Section 189 of the Companies Act, 2013 read with Section 184, 188 of Companies Act, 2013 and Rule 16 of Companies (Meetings of Board and its Power) Rules, 2014 APPLICABILITY: This section applies to every company including banking and insurance Company. EXPLANATION: This section provides that every company is required to maintain a register in …
Register Of Contracts Or Arrangements In Which Directors Are Interested Read More »
INTRODUCTION: The Secretarial Standard on General Meeting (SS-2) as approved by the Central Government has been issued by the Institute of Company Secretaries of India (ICSI) under the provisions of Section 118(10) and explanation under Section 205(1) of the Companies Act, 2013 (the Act), vide ICSI Notification No. 1 (SS) of 2015 dated April 23rd, …
I. Introduction From the time Section 185 of the Companies Act, 2013 came into force all it attracted was ambiguity and confusion. Hence Circulars regarding the clarification of applicability of the Section has been published by Ministry of Corporate Affairs and now there also comes an amendment in the Companies (Amendment) Act, 2015. II. Section …
Introduction: The Secretarial Standard on Meetings of the Board of Directors (SS-1), as approved by the Central Government, has been issued by the Institute of Company Secretaries of India (ICSI) under the provisions of Section 118(10) of the Companies Act, 2013 (the Act), vide ICSI Notification No. 1 (SS) of 2015 dated April 23rd, 2015 …
Secretarial Standard on Meetings of the Board of Directors Read More »
The provisions relating to Independent Directors have been taken from Sections 149, 150 of Companies Act, 2013 and Schedule IV read with Rule 4, 5 & 6 of the Companies ( Appointment and Qualification of Directors) rules, 2014 ESSENCE : The Companies Act, 2013 (“Act”), aims to overhaul the provisions relating to independent directors completely …
The provisions pertaining to appointment of Company Secretaries are given under Section 203 and the Rules under Chapter XIII of Companies Act, 2013. 1. ESSENCE: A company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the …
Introduction Section 148 of the Companies Act, 2013 (“the Act”) read with Companies (Cost Records and Audit) Rules, 2014 and Companies (Cost Records and Audit) Amendment Rules, 2014 (“Rules”) deals with provisions relating to maintenance of Cost Records and Cost Audit requirement. The Central Government by order has specified certain companies engaged in production of …
Maintenance of Cost Records & Cost Audit Requirement Under Companies Act, 2013 Read More »
Introduction Secretarial Standards (‘SS’) are being laid down with an intention to bring harmony and unity between secretarial practice adopted by various corporate and professionals. Prior to Companies Act, 2013, Standards were recommendatory in nature; however with the advent of Companies Act 2013, Standards have gained legal recognition. Standards relating to Board meetings and general …
Is Secretarial Standard One More Law Burdening The Industry And Professionals? Read More »
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