Company Law - Corporate Law Reporter

Notification relating to amendments of Schedule VII of Companies Act, 2013

Notification relating to amendments of Schedule VII of Companies Act, 2013 is attached. Read More

Companies (Corporate Social Responsibility Policy) Rules, 2014

Companies (Corporate Social Responsibility Policy) Rules, 2014 are attached. Read More

Notification relating to effective date of provisions of section 135 and Schedule VII of Companies Act, 2013

1st April, 2014 has been appointed as the effective date of the provisions of Section 135 related to Corporate Social Responsibility Read More

Meetings through Video Conferencing – Is it legally tenable

Participation by Directors in Meetings of the Board/Committee of Directors under the Companies Act, 1956 through electronic mode- Is it legally tenable. Introduction-Position under the Companies Act,2013 Section 173(2) of the Companies Act,2013 (hereinafter referred as The New Act) lends validity to the participation of Directors at a meeting of the Board either in person… Read More

Small Company Under Companies Act 2013

Introduction The concept of Small Company has been introduced for the first time by the Companies Act, 2013. The Act identifies some companies as small companies based on their capital and turnover position for the purpose of providing certain relief/exemptions to these companies. Most of the exemptions provided to a small company are same as that… Read More

Clarification with regard to Section 185 of the Companies Act, 2013

General Circular No 03/2014 No.01/12/2013-CL.V Government of India Ministry of Corporate Affairs 5th Floor,™ A' Wing, Shastri Bhawan, Dr. R.P. Road, New Delhi-110001. Dated: 14/2/2014 To All Regional Directors, All Registrar of companies, All Stakeholders. Subject: Clarification with regard to Section 185 of the Companies Act, 2013. Sir, 1. This Ministry has received number of… Read More

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

Prosecution Architecture Under The Companies Act 2013

Foreword Mechanism For Criminal Proceedings Under The Present Companies Act 1956 Generally at the time of scrutinizing the Balance Sheet and Other Financial Statements of the Company, if Registrar of Companies come across any lapses on part of the Company in recording the transactions and financial irregularities etc. and observed provisions of Companies Act 1956… Read More

Procedure for Authorization of Related Party Transactions under the Companies Act, 2013 – The Conundrum that it is

Introduction Members of the professional fraternity are aware that the Companies Act 2013(hereinafter referred to as The Act) is being notified for implementation in a phased manner-not surprisingly though, considering its overwhelming slant and dependence on sub-ordinate Legislation in the form of Rules. As we write these lines, only 98 out of the 470 Sections … Read More

Front-running – Applicable to non-intermediaries?

Front-running is an illegal practice where, a stock broker or any other intermediary derives benefit from the advance knowledge of its customer™s trade. Definitions The Eight edition of Black™s law dictionary defines front-running as A broker™s or analyst™s use of non public information to acquire securities or enter into options or future contracts for his or her own benefit, knowing that… Read More

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

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

Change in Government Debt Investment Limits for FIIs

CIRCULAR CIR/IMD/FIIC/3/2014 January 29, 2014 To All Foreign Institutional Investors through their designated Custodians of Securities The Depositories (NSDL and CDSL) Sir / Madam, Sub: Change in Government Debt Investment Limits 1. Government of India enhanced the Government debt investment limits by USD 5 billion in June 2013. Vide circular IR/IMD/FIIC/8/2013 dated June 12, 2013,… Read More