Board Of Directors | Corporate Law Reporter

SEBI Board Meeting – Tax related Policies for MFs, Review of Corporate Governance and other decisions

The SEBI Board met in New Delhi today and inter-alia took the following important decisions: I. Review of Corporate Governance norms in India for listed companies The Board has approved the proposals to amend the Listing Agreement with respect to corporate governance norms for listed companies. The amendments, inter-alia, propose to align the provisions of… Read More

Tags: Board of directors, Companies Act, Corporate Governance, India, Mutual fund, New Delhi, SEBI, Securities & Exchange Board of India

Roles and Responsibilities Of Directors Under Companies Act 2013

Who is a Director? An appointed or elected member of the board of directors of a company. He has the responsibility for determining and implementing the company™s policy. A company director need not to be a shareholder or an employee, and may hold only the office of director under the provisions of the Act. Directors… Read More

Tags: Annual General Meeting, Board, Board of directors, Chief executive officer, Companies Act, CompanySecretary, India, Legal liability

Board™s Report Enhanced Role Under The New Companies Act 2013

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… Read More

Tags: Audit Committee, Board of directors, Companies Act, Companies Act 2013, Compensation and Benefits, Financial statement, Independent director, Public company

Conversion of debt into shares, consent level of security enforcement actions and permission to acquire debt from other SC/RCs

RBI/2013-2014/460 DNBS (PD) CC. No. 35/SCRC/26.03.001/2013-2014 January 23, 2014 The Chairman/Managing Director/Chief Executive Officer All registered Securitisation Companies/Reconstruction Companies Dear Sir, Conversion of debt into shares, consent level of security enforcement actions and permission to acquire debt from other SC/RCs Please refer to The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003… Read More

Tags: 2014 January 23, Board of directors, finance, India, Reconstruction Era, Reconstruction of Financial Assets, Reserve Bank of India, Securitisation

Lending against Gold Jewellery

RBI/2013-14/453 DBOD.BP.BC.No.86 /21.01.023 /2013-14 January 20, 2014 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Lending against Gold Jewellery Please refer to our circular DBOD.No.BC.138/21.01.023/94 dated November 22, 1994 on ˜Advances against Gold Ornaments and Jewellery for the purpose of Medical Expenses and Meeting Unforeseen Liabilities™, wherein banks were advised that while granting advances against… Read More

Tags: Board of directors, Gold, India, Jewellery, Loan, Loan-to-value ratio, Mumbai, Rajesh Verma

Companies Act 2013 and Draft Rules there under – Commentary on Drafting anomalies, aberrations, contradictions et al – Urgent Need for Review

Introduction The much awaited Companies Act 2013 (hereinafter referred to as The Act) is now a valid piece of legislation having received presidential assent in August last year. The Act is now operational, albeit, partially with 98 provisions having been notified for application effective September 12,2013.The other provisions have been kept in suspended animation awaiting… Read More

Tags: Board of directors, Companies Act, Companies Act 1956, Companies Act 2013, Company, Debenture, Government, Sections

Corporate Ethics and Corporate Governance – Who will guard the guards?

(Speech delivered by Dr. (Smt) Deepali Pant Joshi, Executive Director, Reserve Bank of India at the National Institute of Securities Markets, Kolkata on 11th December, 2013) Introduction At the outset, let me congratulate the organisers for this topical choice of subject, one which concerns us all. I thank Director, National Institute of Securities Markets, Dr.Sandip Ghose… Read More

Tags: Board of directors, Chairman, Companies Act 1956, Corporate Governance, Corporation, National Institute of Securities Markets, Reserve Bank of India, Sarbanesâ€“Oxley Act

Women Directors on Boards of Corporate Companies

As per the data available in the MCA-21 system of the Ministry of Corporate Affairs, as on 28.11.2013 there were 4,83,103 women directors on boards of corporate companies registered under the Companies Acts including government companies. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of… Read More

Tags: Board of directors, Companies Act, Corporate Affairs Ministry, List of Latin phrases (I), LokSabha, Minister of Corporate Affairs, Rajya Sabha, Sachin Pilot

Chairman Of The Board And Chairman Of The General Meetings

CHAIRMAN OF THE BOARD AND CHAIRMAN OF THE GENERAL MEETINGS Abstract The responsibility for the conduct of a meeting rests primarily on the chairman. The chairman is entrusted with the task to call the speakers, regulate the length of their speeches, deal with the items of the business in order, put motions to the meeting… Read More

Tags: Annual General Meeting, Articles of Association, Board, Board of directors, Chairman, Companies Act, Meeting, Non-executive director

MCA Clarification on applicability of Section 185 of Companies Act 2013 and Section 372A of the Companies Act, 1956

CLR Editorial Notes: After some of the Companies Act 2013 Sections were notified, the Ministry of Corporate Affairs received several suggestions and representations regarding the notification of Section 185 of Companies Act 2013 (which deals with loans to Directors - and which corresponds to Section 295 of the Companies Act, 1956). This comes at a… Read More

Tags: Board of directors, Companies Act, Companies Act 1956, Companies Act 2013, Company Law Board, Corporate Affairs Ministry, Government, MCA, New Delhi, Section 185 of Companies Act 2013

Roles & Responsibilities of an Independent Director under Companies Act 2013 – Conference

ASSOCHAM Presents National Seminar on Independent Director - Role & Responsibilities under Companies Act 2013 - Wednesday, 11th December 2013 Hotel Royal Plaza, New Delhi The provisions of the… Read More

Tags: ASSOCHAM, Board of directors, Companies Act, Companies Act 1956, Corporate Affairs Ministry, Independent director, India, New Delhi, Wednesday 11th December 2013

Corporate rights against personal rights of members

Corporate Rights Against Personal Rights Of Members Sec. 41 of the Companies Act, 1956 (Act) defines members as any person who is (1) the subscribers of the memorandum of a company or every other person who agrees in writing to become a member of a company and whose name is entered in its register of… Read More

Tags: Annual General Meeting, Board of directors, Business, Companies Act 1956, copyright, Individual and group rights, Shareholder, Supreme Court

An Analysis of One Person Company under Companies Act 2013 – by Karandeep Makkar

I worship individuals for their highest possibilities as individuals and I loathe humanity for its failure to live up to these possibilities. • Ayn Rand 1. Introduction Individual entrepreneurs doing business as sole proprietors will now be able to avail the benefits of limited liability without a second person to form a company as the… Read More

Tags: 2013 Act, Board of directors, Business, Companies Act, Companies Act 1956, Companies Act 2013, Corporate Affairs Ministry, India, One Person Company, OPC