Public Company | Corporate Law Reporter

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

Buy back of Shares – Need of Listed and Unlisted Companies

Buy back of Shares: Need of Listed and Unlisted Companies Ishwar Ahuja & Isha Gandhi* Outline When Companies with outstanding businesses and comfortable financial positions find their shares selling far below the intrinsic value in the marketplace, no alternative action can benefit shareholders as surely repurchases. - Warren Buffett The term Buy back has two… Read More

Tags: Bank of England, Companies Act, Companies Act 1956, Diluted earnings per share, India, Public company, Securities and Exchange Board of India, Warren Buffett

SEBI Consultation paper on Infrastructure Investment Trusts

SEBI is inviting Public comments on the consultative paper on the aforesaid proposals as laid out in the Document attached here. Comments may be forwarded by email to Ms. Nila Salil Khanolkar, Assistant General Manager (nila@sebi.gov.in) or Mr. Naveen Gupta, Assistant Manager (naveeng@sebi.gov.in) latest by January 20, 2014. The Comments should be given in the… Read More

Tags: Business, Companies Act, Employee benefit, Insider Trading, Public company, Regulation, Securities & Exchange Board of India, Securities and Exchange Board of India Act 1992

Compliance of Secretarial Standards – Whether mandatory requirement for all companies?

Compliance of Secretarial Standards Whether mandatory requirement for all companies? PREAMBLE In accordance with the requirement of the Section 118(10) of the Companies Act, 2013 (˜the Act™), every company shall observe secretarial standards (˜SS™) with respect to general and Board meetings specified by the Institute of Company Secretaries of India (˜ICSI™). Insertion of this requirement… Read More

Tags: Aditya Birla Group, Companies Act, Company Secretary, Corporate Affairs Ministry, ICSI, Institute of Company Secretaries of India, MCA, Public company

SEBI issues Discussion Paper on ‘Review of guidelines governing stock related employee benefit schemes’

SEBI has issued a discussion paper on 'Review of guidelines governing stock related employee benefit schemes', for public comments. SEBI has issued SEBI (ESOS & ESPS) Guidelines, 1999 to enable listed companies to reward their employees through stock option schemes and stock purchase schemes. Based on the requests/ suggestions/ recommendations received from various market participants,… Read More

Tags: Annexation, Employee benefit, Mumbai, Public company, Scheme (mathematics), SEBI, Securities & Exchange Board of India, Securities and Exchange Board of India Act 1992

Compliance with the provisions of Equity Listing Agreement by listed companies Monitoring by Stock Exchanges

CIR/CFD/POLICYCELL/13/2013 November 18, 2013 To All Recognised Stock Exchanges Dear Sir(s)/Madam(s), Sub: Compliance with the provisions of Equity Listing Agreement by listed companies - Monitoring by Stock Exchanges 1. The Equity Listing Agreement mandates listed companies to make periodic and event based disclosures which are price sensitive in nature and which will have bearing on… Read More

Tags: Financial services, India, Public company, SEBI, Securities & Exchange Board of India, Securities and Exchange Board of India Act 1992, Standard operating procedure, Stock exchange

Total Number of Companies in the Official Registry as recorded by MCA

As per the records of the Ministry of Corporate Affairs there were a total of 13.45 lakh companies in the official Registry as on 31st August 2013. However, out of these as many as 2.57 lakh companies have been closed and there are 30,127 companies that are in the process of being closed. Also, as… Read More

Tags: Balance sheet, Business, Companies Act, Companies Act 1956, Corporate Affairs Ministry, Government, India, Public company

Draft Rules under Companies Act 2013 :: Chapter XIII :: Appointment and Remuneration of Managerial Personnel

Click Here to Download the Draft Rules for Chapter XIII -------------------------------------------------------------------------------------------- DRAFT RULES UNDER COMPANIES ACT, 2013 CHAPTER XIII APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL 13.1 For the purposes of second proviso to sub-section (4) of section 196, a company shall file a return of appointment of a managing director, whole time director or manager with the… Read More

Tags: Board of directors, Business, Compensation and Benefits, Executive pay, Human Resources, India, Public company, Salary

Companies Act, 2013 Important provisions which have become effective from 12th September, 2013

Companies Act, 2013 Important provisions which have become effective from 12th September, 2013 The Ministry of Corporate Affairs has notified 12th Septmber, 2013 as effective date for 98 sections of the Companies Act, 2013 (hereinafter referred as ˜the Act™) vide its notification dated 12th September, 2013. Certain important provisions (which have become effective) are briefly… Read More

Tags: Companies Act, CompanySecretary, Corporate Affairs Ministry, Financial services, Fixed Deposit, Income tax, Privately held company, Public company, Subsidiary

Commencement Notification CA2013 :: Miscellaneous :: Section 458 :: Delegation by Central Government of its powers and functions

Chapter XXIX Miscellaneous (447 - 470) Section 458- Delegation by Central Government of its powers and functions (1) The Central Government may, by notification, and subject to such conditions, limitations and restrictions as may be specified therein, delegate any of its powers or functions under this Act other than the power to make rules to… Read More

Tags: Business, Central Government, Company, Exchange Board, FeedBurner, Public company, Securities and Exchange Board, Security (finance)

Commencement Notification CA2013 :: Miscellaneous :: Section 448 :: Punishment for false statements

Chapter XXIX Miscellaneous (447 - 470) Section 448- Punishment for false statements Save as otherwise provided in this Act, if in any return, report, certificate, financial statement, prospectus, statement or other document required by, or for, the purposes of any of the provisions of this Act or rules made thereunder, any person makes a statement,”… Read More

Tags: Annual General Meeting, Chairman, Company, Financial statement, Public company, Security (finance)

Commencement Notification CA2013 :: National Company Law Tribunal :: Section 413 :: Term of office of President, Chairperson and other Members

Chapter XXVII-National Company Law Tribunal and Appellate Tribunal (407 - 434) Section 413- Term of office of President, Chairperson and other Members (1) The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall… Read More

Tags: Chairman, Chairperson, Chief Justice, Government, Michael Sata, President of the United States, Public company, Supreme Court of the United States

Commencement Notification CA2013 :: Section 195 :: Prohibition on insider trading of securities

Chapter XII -Meetings of Board and its Powers (173 - 195) Section 195- Prohibition on insider trading of securities (1) No person including any director or key managerial personnel shall enter into insider trading: Provided that nothing contained in this sub-section shall apply to any communication required in the ordinary course of business or profession… Read More

Tags: Brokerages, Business, Information sensitivity, Insider Trading, Investing, Management, Public company, Security (finance)