Comparison of the old & new company lawSaugata Palit
This is a presentation on the comparison of the old and new company law. The presentation involves all the aspects as well as regulatory. Although a few points may be missing.
Comparison of the old & new company lawSaugata Palit
This is a presentation on the comparison of the old and new company law. The presentation involves all the aspects as well as regulatory. Although a few points may be missing.
NO. FJ2 (49)/2021-LEGIS) THE LEGISLATION WAS RECEIVED ON DECEMBER 1, 2021 AFTER BEEN APPROVED BY THE PARLIAMENT HEREAFTER PROMULGATED ON DECEMBER 04, 2021 CALLED AS THE COMPANIES (AMENDMENT) ACT, 2021.
Companies Act, 2013 - ICSI Thrissur - Directors, Meetings, Public vs Private ...SASPARTNERS
This presentation is solely the effort of SAS Partners Corporate Advisors Private Limited, Chennai.
It gives an insight on the provisions and compliances relating to Public vs Private Company - Degree of Indifference, Directors, Meetings, Audit & Accounts, Role of Company Secretary and other new concepts which have been introduced.
This presentation will also act as a ready reckoner for practising and corporate professionals to have an access to easy first hand information and will help in better understanding of the law.
Action Points for Listed Companies under Companies Act, 2013SASPARTNERS
Write up on the Action Points for Listed Companies under Companies Act, 2013 is prepared by SAS Partners Team to give a bird eye view of all the important provisions which a Listed Company has to take into consideration in the Board Meeting of the first quarter of the Financial Year 2014-15 or subsequent Board Meeting. The write up shall be helpful for Professional, Corporates and Students at large. SAS Partners Team has considered the provisions which were applicable as on date and due care has been taken to prepare the write up.
NO. FJ2 (49)/2021-LEGIS) THE LEGISLATION WAS RECEIVED ON DECEMBER 1, 2021 AFTER BEEN APPROVED BY THE PARLIAMENT HEREAFTER PROMULGATED ON DECEMBER 04, 2021 CALLED AS THE COMPANIES (AMENDMENT) ACT, 2021.
Companies Act, 2013 - ICSI Thrissur - Directors, Meetings, Public vs Private ...SASPARTNERS
This presentation is solely the effort of SAS Partners Corporate Advisors Private Limited, Chennai.
It gives an insight on the provisions and compliances relating to Public vs Private Company - Degree of Indifference, Directors, Meetings, Audit & Accounts, Role of Company Secretary and other new concepts which have been introduced.
This presentation will also act as a ready reckoner for practising and corporate professionals to have an access to easy first hand information and will help in better understanding of the law.
Action Points for Listed Companies under Companies Act, 2013SASPARTNERS
Write up on the Action Points for Listed Companies under Companies Act, 2013 is prepared by SAS Partners Team to give a bird eye view of all the important provisions which a Listed Company has to take into consideration in the Board Meeting of the first quarter of the Financial Year 2014-15 or subsequent Board Meeting. The write up shall be helpful for Professional, Corporates and Students at large. SAS Partners Team has considered the provisions which were applicable as on date and due care has been taken to prepare the write up.
FINANCIAL MARKET CONCLAVE – ROAD TO TURN AROUND - COMPANIES ACT, 2013 - Part -6Resurgent India
The Companies Act, 2013 has made several changes in the regulatory requirements of the companies. It has introduced several new concepts and has streamlined many of the requirements by introducing new definitions. The Act aims to raise the governance level of the Indian companies at par with the global companies.
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"CA Pragathi Gudur* With the ever-increasing stringency in the regulatory framework and disclosure requirements under various provisions of law, MCA, vide notifi"
TaxGuru is a platform that provides Updates On Amendments in Income Tax, Wealth Tax, Company Law, Service Tax, RBI, Custom Duty, Corporate Law , Goods and Service Tax etc.
To know more visit https://taxguru.in/company-law/amendments-schedule-iii-companies-act-w-e-f-1st-april-2022.html
Corporate governance and the role of professionals under the Companies Act, 2...D Murali ☆
Corporate governance and the role of professionals under the Companies Act, 2013- Dr S. Chandrasekaran - Article published in Business Advisor, dated July 25, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Here we are covering two major topics which are as follows :
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A presentation ‘Compromises, Arrangements & Amalgamations with Special reference to Protection of Minority & Dissenting Shareholders under Companies Act, 2013 ‘ given by Mr. Chander Sawhney at IICA
Amendments in Schedule III of Companies Act, w.e.f. 1st April 2022taxguru5
"CA Pragathi Gudur* With the ever-increasing stringency in the regulatory framework and disclosure requirements under various provisions of law, MCA, vide notifi"
TaxGuru is a platform that provides Updates On Amendments in Income Tax, Wealth Tax, Company Law, Service Tax, RBI, Custom Duty, Corporate Law , Goods and Service Tax etc.
To know more visit https://taxguru.in/company-law/amendments-schedule-iii-companies-act-w-e-f-1st-april-2022.html
Independent director – Section 149 of the Companies Act, 2013 versus Clause 4...D Murali ☆
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This presentation explains in detail and a lucid manner, all the provisions of SEBI Takeover code. Also, it deals with certain debatable issues under the code.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
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Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Changes in disclosures: A Comparative Analysis of Companies Act 1956 and 2013
1. CHANGES IN DISCLOSURES: A COMPARATIVE
ANALYSIS OF COMPANIES ACT 1956 AND 2013
Arbaaz Hussain: B.B.A.LL.B
Adhiraj Gupta: B.A.LL.B
2. DISCLOSURE NORMS- WHAT ARE THEY?
Disclosure- The act or process of revealing or uncovering.
Disclosure as one of the tenets of corporate governance. It
constitutes an essential requirement for the efficacy of most
of the provisions of company legislation
Disclosure enhances transparency, helps stakeholders of the
firms and other market participants to act properly.
It prevents asymmetry of information and acts as a
yardstick for managerial performance.
3. DISCLOSURES IN PROSPECTUS
Section 56 of CA’ 1956 provided for matters to be stated and
reports to be set out in prospectus with reference to Part I and
II of Schedule II.
CA’ 2013 has reduced the number of items to be specified in
prospectus, and the same is contained in the section itself.
Additions made:
26(1) (a)(xi): Particulars relating to gestation period of
project, extent of progress made, deadline for completion
and pending litigation by government or statutory body
against promoter.
26(1)(c): Disclaimer stating that the contents of the
products are not contrary to the provisions of the CA’
2013, SCRA 1956, SEBI 1992, and the rules made
thereunder.
4. BOARDS REPORT
Section 217 of CA’1956 provided for the attachment of
the board’s report to the balance sheet in the general
meeting.
The above section also provided for the essential
information to be furnished in the board’s report.
Section 134 of the CA’ 2013 specifies for the furnishing
of the boards report in the general meeting, and mandates
the presence of certain additional information, which was
absent in the CA’ 1956.
5. BOARDS REPORT CONTD.
The additional information to be specified are:
Extract of the annual return.
Statement of declaration given by independent directors
Companies policy on directors appointment and
remuneration in case of constitution of NRC.
Explanation or comments by the board on every remark
given by the auditor and the CS in their reports
Particulars of loans, guarantees and investments
Particulars of contracts with related parties.
Statement indicating development and implementation of
risk management policy.
Details of policies developed and implemented on CSR.
6. BOARDS REPORT CONTD.
Directors responsibility statement in the boards report shall
include In the case of listed company, disclosures relating to the
operation and effectiveness of the companies internal financial
controls.
Disclosure regarding the operation and effectiveness of the
devised system which seeks to ensure compliance with all
applicable laws.
Penalty to be imposed in case of contravention of these
requirements.
Fine amounting to minimum 50,000 which may extend up to
25, 00,000. (For Company)
Imprisonment for a term which may extend to three years or
with fine amounting to minimum of Rs. 50,000 which may
extend up to Rs. 5 lacs, or with both. (For officers)
7. ANNUAL RETURN
The CA’1956 made a distinction between the annual
return to be filed by a company having share capital, and
a company without share capital. (159-160)
Section 161 provided for the procedure to be followed
while filing annual return with the ROC, and 162
provided for penalties.
Section 92 of the CA’ 2013 has removed the
aforementioned distinction, and has additionally
provided for disclosures in the particulars of the annual
return.
8. ANNUAL RETURN CONTD.
The additional details to be mentioned are:
The principal business activity of the company, the particulars of
its holdings, subsidiary and associated companies.
Matters relating to certification of compliances, disclosures as
may be prescribed.
A certification by the company secretary, stating that the
statements in the annual return are correct, adequate and
true, and that the company has complied with all provisions of
the act.
Penalty to be imposed in case of contravention of these
requirements.
Fine amounting to minimum 50,000 which may extend up to
25, 00,000. (For Company)
Imprisonment for a term which may extend to three years or
with fine amounting to minimum of Rs. 50,000 which may
extend up to Rs. 5 lacs, or with both. (For officers)
9. AUDIT COMMITTEE
Section 292A of the CA’ 1956 provided for the constitution of
an audit committee, and its functioning only in case of public
companies having paid up capital of not less than Rs. 5 crore.
Section 177 of the CA’ 2013 mandated for the constitution of
an audit committee in every listed company and such other
class or classes of companies.
The additional disclosures to be given are:
The Boards report under 134(3) shall disclose the
composition of an audit committee.
Non acceptance of recommendation of the audit committee
shall be disclosed in the boards report along with the
required reasoning.
The boards report and website of the company shall
contain details regarding the establishment of a mechanism
to maintain vigilance over the directors and employees.
10. NOTICE OF MEETINGS
Section 173 of CA’ 1956 provided for the attachment of
an explanatory statement to the notice of a meeting for
every special business to be conducted in such meeting.
Section 102 of the CA’ 2013 also specifies for the
attachment of a statement to the notice with the
following additional details:
Disclosures relating to the nature and extent of
interest of directors, KMP.
Disclosure of the extent of interest of every
promoter, director and KMP in any other company to
be affected by the proposed resolution if they hold not
less than 2% of paid up shareholding of such other
company.
11. NOMINATION AND REMUNERATION
COMMITTEE & STAKEHOLDER COMMITTEE
Schedule XIII of CA’ 1956 provided for the approval of
the managerial remuneration by the remuneration
committee in a situation where the company had no
profits or inadequate profits. The listing agreement
contains provisions regarding NRC which are not
mandatory.
Section 178 of CA’ 2013 mandates for the creation of
Nomination and Remuneration Committee & The
Stakeholder Committee.
Policy
relating to the remuneration for the
directors, KMP and other employees formulated by NRC
is to be disclosed in the boards report.
12. CONSOLIDATED FINANCIAL STATEMENT
Section 211 of the CA’ 1956 provided for the form and
contents of balance sheet and profit and loss account.
Section 129 of the CA’ 2013 provides for the forms and
contents of the financial statements of the company.
Additionally it mandates the preparation of CFS, when a
company has one or more subsidiaries. The company
shall also attach along with its financial statement, a
separate statement containing the salient feature of its
subsidiary or subsidiaries.
13. CONCLUDING REMARKS
Additional disclosures in the CA’ 2013 will increase
transparency and thereby will result in the enhancement
of stakeholders confidence in the company.
However this disclosure of too much information in the
public
may
put
companies
in
a
competitive
disadvantageous position.
The non-discriminate imposition of stringent penalties
for every contravention seems to be inappropriate.