1. Enhanced Standards for Credit Rating Agencies (CRAs) SEBI constituted a committee on “Strengthening the Guidelines and Raising Industry Standards for Credit Rating Agencies (CRAs)”. The objective of the Committee was to deliberate upon measures and guidelines to bring about greater transparency in the policies of the CRAs, enhance the standards followed by the industry …
I. INTRODUCTION Section 140 of Companies Act, 2013 and Rule 7 of Companies (Audit and Auditors) Rules, 2014 states the law and procedure regarding removal of auditor before expiry of his term. II. SECTION 140(1) – REMOVAL OF AUDITOR BEFORE THE EXPIRY OF HIS TERM Section 140(1) of the Act provides for removal of auditor before …
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I. Introduction: Nidhi Company is a company incorporated as such with an objective of: Cultivating the habit of thrift; Saving amongst its members; Receiving deposits from its members; and Lending money to it members. II. Procedure to setup a Nidhi Company: Rule 4 of NIDHI Rules 2014 provides that: A Nidhi Company should be incorporated …
I. Introduction After the demonetization led by our Hon’ble Prime Minister, Mr. Narendra Modi, the aim of whom was to wash away the black money out of the economy and get it into the licit, banked as well as taxable part of the economy, the next target of our Prime Minister is Benami Properties. The …
S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th December 2016 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th December 2016 3 Tax Deducted at Source Payment Challan No./ITNS 281 Income Tax Act, 1961 7th December …
I. Introduction: Whistle Blowing is nothing but calling the attention of top level management to some malafide activities happening within an organization. A whistle blower may be an employee, former employee or member of an organization, a government agency, who have willingness to take corrective action on the misconduct. As per Section 177 of the …
Open Offer under Takeover Code once made, cannot be withdrawn without any proper justification Parties Pramod Jain and Others (Appellant(s)) Vs. Securities Exchange Board of India. (Respondent(s)) Citation Civil Appeal No. 9103 of 2014 Court Supreme Court of India FACTS: Mr. Pramod Jain and Pranidhi Holdings Private Limited (‘Acquirers’) along with J.P. Financial Services Private …
S. No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th November 2016 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th November 2016 3 Tax Deducted at Source Payment Challan No./ITNS 281 Income Tax Act, 1961 7th …
SPICe – Simplified Proforma for Incorporating Company Electronically Ministry of Corporate Affairs (MCA) has recently introduced SPICe Form INC-32 which is a Simplified Proforma for Incorporating Company Electronically through Companies (Incorporation) Fourth Amendment Rules, 2016. SPICe or Form INC-32 can help incorporate a company with a single application for: reservation of name incorporation of a …
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The inclusion of independent directors on the Board of Directors is considered integral to the corporate governance framework. In India, most of the companies are closely held by promoter groups from the same family. The average promoter shareholding in BSE 500 companies is estimated to be over 50%. Hence, in order to counter the dominance …
Independent Directors – Analyzing their role and Independence Read More »
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