Form MR-3 of Companies Act, 2013 – Secretarial Audit Report
SECRETARIAL AUDIT REPORT Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014 Read More
Section 205 of Companies Act, 2013 – Functions of company secretary
Section 205. Functions of Company Secretary [Effective from 1st April, 2014] (1) The functions of the company secretary shall include,— (a) to report to the Board about compliance with the provisions of this Act, the rules made thereunder and other laws applicable to the company; (b) to ensure that the company complies with the applicable secretarial standards;… Read More
Section 204 of Companies Act, 2013 – Secretarial audit for bigger companies
Section 204. Secretarial Audit for Bigger Companies [Effective from 1st April, 2014] (1) Every listed company and a company belonging to other class of companies as may be prescribed shall annex with its Board’s report made in terms of subsection (3) of section 134, a secretarial audit report, given by a company secretary in practice, in such form… Read More
Section 203 of Companies Act, 2013 – Appointment of key managerial personnel
Section 203. Appointment of Key Managerial Personnel [Effective from 1st April, 2014] (1) Every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time key managerial personnel,— (i) managing director, or Chief Executive Officer or manager and in their absence, a whole-time director; (ii) company secretary; and (iii) Chief… Read More
Section 202 of Companies Act, 2013 – Compensation for loss of office of managing or whole-time director or manager
Section 202. COMPENSATION FOR LOSS OF OFFICE OF MANAGING OR WHOLE-TIME DIRECTOR OR MANAGER [Effective from 12th September, 2013] (1) A company may make payment to a managing or whole-time director or manager, but not to any other director, by way of compensation for loss of office, or as consideration for retirement from office or in connection with… Read More
Section 201 of Companies Act, 2013 – Forms of, and procedure in relation to, certain applications
Section 201. FORMS OF, AND PROCEDURE IN RELATION TO, CERTAIN APPLICATIONS [Effective from 1st April, 2014] (1) Every application made to the Central Government under [1] shall be in such form as may be prescribed. (2) (a) Before any application is made by a company to the Central Government under [2] , there shall be issued by… Read More
Section 200 of Companies Act, 2013 – Central Government or company to fix limit with regard to remuneration
Section 200. CENTRAL GOVERNMENT OR COMPANY TO FIX LIMIT WITH REGARD TO REMUNERATION [Effective from 1st April, 2014] Notwithstanding anything contained in this Chapter, [1] [***] a company may, while according its approval under section 196, to any appointment or to any remuneration under section 197 in respect of cases where the company has inadequate or no profits, fix… Read More
Section 199 of Companies Act, 2013 – Recovery of remuneration in certain cases
SECTION 199. RECOVERY OF REMUNERATION IN CERTAIN CASES [Effective from 1st April, 2014] Without prejudice to any liability incurred under the provisions of this Act or any other law for the time being in force, where a company is required to re-state its financial statements due to fraud or non-compliance with any requirement under this Act and the… Read More
Section 198 of Companies Act, 2013 – Calculation of profits
Section 198. Calculation of Profits [Effective from 1st April, 2014] (1) In computing the net profits of a company in any financial year for the purpose of section 197,— (a) credit shall be given for the sums specified in sub-section (2), and credit shall not be given for those specified in sub-section (3); and (b) the sums… Read More
Section 197 of Companies Act, 2013 – Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits
Section 197. Overall Maximum Managerial Remuneration and Managerial Remuneration in Case of Absence or Inadequacy of Profits [Effective from 1st April, 2014] EXEMPTIONS Section 197 shall not apply to a Government Company, vide Notification No. GSR 463(E) dated 5th June, 2015. Section 197 shall not apply to Specified public Company, vide Notification No. 08 dated 04th January, 2017. (1)… Read More
Section 196 of Companies Act, 2013 – Appointment of managing director, whole-time director or manager
Section 196. Appointment of Managing Director, Whole-Time Director or Manager [Effective from 1st April, 2014] (1) No company shall appoint or employ at the same time a managing director and a manager. (2) No company shall appoint or re-appoint any person as its managing director, whole-time director or manager for a term exceeding five years at a… Read More
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