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: CompanyCorporate Affairs MinistryCorporate GovernanceFraudGovernmentLok SabhaSachin PilotSecurities & 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: BillCompanyCompanySecretaryCorporate Affairs MinistryCorporate lawcorporate social responsibilityHistorical Development of Concept of Corporate LawIndia

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: AsiaCompanyGrievanceGujaratIndiaInvestorSecurities & Exchange Board of IndiaTelemedia

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 2013CompanyGovernment of IndiaIncome taxIndiaInvestmentTaxTax 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: CommitteeCompanyCorporate Affairs MinistryIndiaLok SabhaMergers & AcquisitionsMinistrySachin 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: CompanyCompany SecretaryCorporate Affairs MinistryICSIIndiaInstitute of Company Secretaries of IndiaLok SabhaSachin 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: AsiaBillCompanyCorporate Affairs MinistryGovernmentIndiaRajya SabhaSachin Pilot

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