Factors Leading to Corporate Frauds and the Measures Taken by the Government to Check them
The Government has said that the reports appearing in a section of media indicate that a Section 25 Company, Thought Arbitrage Research Institute has published a study indicating inter alia occurrence of frauds in companies due to factors like inadequate internal control procedures, diversion of funds by promoters/ top management, failure of audit in detection… Read More
Tags: Company, Corporate Affairs Ministry, Corporate Governance, Fraud, Government, Lok Sabha, Sachin Pilot, Securities & Exchange Board of India
Clarification about Applicability of the Companies Bill, 2013 for Company Secretaries December, 2013 Examination
Students appearing in the ˜Company Law™ paper of ˜Executive Programme™) and Company Secretarial Practice paper of the ˜Professional Programme™ respectively may take note of the following changes applicable for December 2013 Examination: 1. Highlights of the Companies Bill, 2012 as passed by the Parliament on 8th August, 2013 will be applicable under the topics Historical Development… Read More
Tags: Bill, Company, CompanySecretary, Corporate Affairs Ministry, Corporate law, corporate social responsibility, Historical Development of Concept of Corporate Law, India
Regulatory action against Companies and their directors for non-redressal of Investor Grievances
SEBI takes appropriate enforcement actions (adjudication, directions etc) as provided under the law where progress in redressal of investor grievances is not satisfactory. Accordingly, directions under section 11B/11 (4) (b) of SEBI Act were passed against the following companies and its directors debarring them from accessing the securities market and from buying, selling or dealing … Read More
Tags: Asia, Company, Grievance, Gujarat, India, Investor, Securities & Exchange Board of India, Telemedia
Government proposes 15% concession on investments of INR 100 crore or more on Manufacturing
The Government proposes to provide 15% concession on investment of more than Rs. 100 crore on project and automation in manufacturing sector of the country from 1st April, 2013 to 31st March, 2015. In order to encourage substantial investment in plant or machinery, the Finance Bill, 2013 proposes to insert a new section 32AC in… Read More
Tags: 1st April 2013, Company, Government of India, Income tax, India, Investment, Tax, Tax deduction
Committee on Business Climate
A Committee under the Chairmanship of Sh. M. Damodaran has been constituted on 23.08.2012 by this Ministry to extensively examine different areas of root functioning such as financial reforms, governance reforms, liberalized policy framework, process reforms etc, and to suggest a roadmap for improving climate in India. The Committee is likely to submit its report… Read More
Tags: Committee, Company, Corporate Affairs Ministry, India, Lok Sabha, Mergers & Acquisitions, Ministry, Sachin Pilot
CLR Important | Provision Regarding ˜Key Managerial Personnel™ in the Companies Bill, 2012
The Companies Bill, 2012, as passed by Lok Sabha, inter-alia, incorporates provisions (Clause 203) regarding appointment of ˜Key Managerial Personnel™ (KMP) which provides that every Company, belonging to such class or classes of company as may be prescribed, shall have a Company Secretary as whole-time key managerial personnel. Giving this information in written reply to… Read More
Tags: Company, Company Secretary, Corporate Affairs Ministry, ICSI, India, Institute of Company Secretaries of India, Lok Sabha, Sachin Pilot
Companies Bill, 2012 provides for Regulation of Foreign Online Companies
Sachin Pilot, MCA It had come to the notice of the Government that certain foreign entities are conducting online activities in India without actually getting themselves registered. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that in order to regulate online activities… Read More
Tags: Asia, Bill, Company, Corporate Affairs Ministry, Government, India, Rajya Sabha, Sachin Pilot