The document summarizes key aspects of company formation under the Companies Act, 2013 such as:
1) The steps to form a company including securing a name, drafting the memorandum and articles of association, filing documents with the Registrar and obtaining a certificate of incorporation.
2) The mandatory clauses that must be included in the memorandum such as the company name, state, objects, liability and capital structure.
3) Restrictions on the name including it not resembling an existing company's name and not containing words requiring government approval without consent.
Profits and Gains of Business or ProfessionChella Pandian
This document provides information about an income tax course taught by Dr. K. Chellapandian. It includes details about the course code, credit hours, outcomes, units covered, textbooks, and assessment details. The key points are:
- The course is Income Tax Law & Practice - II taught by Dr. K. Chellapandian at Vivekananda College.
- It has 5 units covering topics like computation of profits/capital gains, deductions, assessment of individuals/firms, and tax authorities.
- The course aims to enable students to learn income tax provisions and assessment procedures.
- Assessment includes 40% theory and 60% problems, following amendments up to 6 months
Only chartered accountants can be appointed as auditors of a company. An individual or audit firm holding any securities in the company being audited would be disqualified from being appointed. The first auditor is appointed by the board of directors within 30 days for other companies and by the Comptroller and Auditor General of India within 60 days for government companies. The auditor holds office for a term of 5 years until the conclusion of the sixth annual general meeting and their appointment must be ratified annually. The same auditor cannot be appointed for more than one term of 5 consecutive years for listed companies or more than two terms of 5 consecutive years for audit firms.
1) The document discusses the dissolution of a partnership firm. Dissolution of a partnership means one or more partners leaving the firm, while dissolution of a firm means the complete closure of business and ending of legal relations among all partners.
2) A firm dissolves under circumstances like expiry of a fixed term, completion of a venture, death or insolvency of a partner, or when all partners agree. Upon dissolution, assets are sold and proceeds are used to pay liabilities, return capital to partners, and any remaining surplus is distributed according to profit ratios.
3) A Realization Account is opened to record the closing values of assets and liabilities. Entries are made to close those accounts and
The document discusses the process of winding up and dissolution of a company. It defines winding up as the final stage when a company ceases operations after all survival strategies have failed. A liquidator is appointed who takes control of the company from the board. There are three types of winding up - compulsory, members' voluntary, and creditors' voluntary. The registrar of companies can also strike off the name of defunct companies that are no longer operating from the register through a fast track exit process. The company can later apply for restoration within 20 years if required.
The document summarizes key provisions relating to the duties and powers of auditors under Section 143 of the Companies Act 2013 in India. It discusses the following in 3 sentences or less:
- Section 143(1) outlines matters auditors must inquire into including loans/advances, personal expenses, asset sales, and share issuances.
- Section 143(2) requires auditors to report on accounts examined and compliance with accounting standards in reports to the company.
- Sections 143(3) and 143(4) specify the contents of audit reports, including compliance with laws and standards, transactions, director qualifications, and reasons for qualifications.
Income tax-return-of-income-and-assessment-proceduresAdmin SBS
- Return of Income must be filed by certain persons and entities like companies, firms, individuals with income above exemption limit, residents with foreign assets/accounts, charitable trusts, political parties, and research/educational institutions.
- There are different ITR forms for individuals, HUFs, companies, and other persons to file ROI depending on income sources.
- The due date for filing ROI varies depending on the type of assessee but is typically July 31 or September 30. Late or belated returns can be filed within 1 year with penalties. Revised returns can also be filed to correct omissions or mistakes.
- The income tax department undertakes assessment in two stages - intimation issued after automated
Profits and Gains of Business or ProfessionChella Pandian
This document provides information about an income tax course taught by Dr. K. Chellapandian. It includes details about the course code, credit hours, outcomes, units covered, textbooks, and assessment details. The key points are:
- The course is Income Tax Law & Practice - II taught by Dr. K. Chellapandian at Vivekananda College.
- It has 5 units covering topics like computation of profits/capital gains, deductions, assessment of individuals/firms, and tax authorities.
- The course aims to enable students to learn income tax provisions and assessment procedures.
- Assessment includes 40% theory and 60% problems, following amendments up to 6 months
Only chartered accountants can be appointed as auditors of a company. An individual or audit firm holding any securities in the company being audited would be disqualified from being appointed. The first auditor is appointed by the board of directors within 30 days for other companies and by the Comptroller and Auditor General of India within 60 days for government companies. The auditor holds office for a term of 5 years until the conclusion of the sixth annual general meeting and their appointment must be ratified annually. The same auditor cannot be appointed for more than one term of 5 consecutive years for listed companies or more than two terms of 5 consecutive years for audit firms.
1) The document discusses the dissolution of a partnership firm. Dissolution of a partnership means one or more partners leaving the firm, while dissolution of a firm means the complete closure of business and ending of legal relations among all partners.
2) A firm dissolves under circumstances like expiry of a fixed term, completion of a venture, death or insolvency of a partner, or when all partners agree. Upon dissolution, assets are sold and proceeds are used to pay liabilities, return capital to partners, and any remaining surplus is distributed according to profit ratios.
3) A Realization Account is opened to record the closing values of assets and liabilities. Entries are made to close those accounts and
The document discusses the process of winding up and dissolution of a company. It defines winding up as the final stage when a company ceases operations after all survival strategies have failed. A liquidator is appointed who takes control of the company from the board. There are three types of winding up - compulsory, members' voluntary, and creditors' voluntary. The registrar of companies can also strike off the name of defunct companies that are no longer operating from the register through a fast track exit process. The company can later apply for restoration within 20 years if required.
The document summarizes key provisions relating to the duties and powers of auditors under Section 143 of the Companies Act 2013 in India. It discusses the following in 3 sentences or less:
- Section 143(1) outlines matters auditors must inquire into including loans/advances, personal expenses, asset sales, and share issuances.
- Section 143(2) requires auditors to report on accounts examined and compliance with accounting standards in reports to the company.
- Sections 143(3) and 143(4) specify the contents of audit reports, including compliance with laws and standards, transactions, director qualifications, and reasons for qualifications.
Income tax-return-of-income-and-assessment-proceduresAdmin SBS
- Return of Income must be filed by certain persons and entities like companies, firms, individuals with income above exemption limit, residents with foreign assets/accounts, charitable trusts, political parties, and research/educational institutions.
- There are different ITR forms for individuals, HUFs, companies, and other persons to file ROI depending on income sources.
- The due date for filing ROI varies depending on the type of assessee but is typically July 31 or September 30. Late or belated returns can be filed within 1 year with penalties. Revised returns can also be filed to correct omissions or mistakes.
- The income tax department undertakes assessment in two stages - intimation issued after automated
Company audits involve examining a company's financial statements to give an expert opinion on whether they fairly represent the company's financial position. The auditor must follow compliance procedures to ensure reliance on internal controls and perform substantive procedures to check financial data in statements. Auditors must also ensure transactions comply with company law. Appointment, removal, and responsibilities of auditors are outlined in the Company Act.
The document provides a backgrounder on the key highlights of the Companies Act, 2013. Some of the major changes introduced include:
- Definition of new terms like associate company, dormant company, foreign company, independent director, etc.
- Introduction of concepts like One Person Company, small companies with relaxed compliance.
- Faster registration process with e-governance features.
- Stricter disclosure norms for prospectus and allotment of securities.
- Provisions for reduction of share capital and redemption of preference shares.
- Enhanced role of e-governance for various company processes.
- Changes in board composition with limits on minimum and maximum number of directors.
The document discusses various aspects of winding up companies in India. It begins by defining winding up and dissolution, and outlines the key differences. It then discusses reasons for winding up a company and the different modes of winding up, including compulsory winding up ordered by the court, and voluntary winding up by members or creditors. The roles and powers of liquidators and the court during the winding up process are also summarized.
The document summarizes taxation implications for limited liability partnerships (LLPs) in India. Key points include:
1) LLPs are treated as firms under the Income Tax Act and taxed as an independent taxable entity. Profits are taxed at the firm level at 30.9% without surcharge.
2) Partners are not taxed on their share of profits distributed by the LLP.
3) Interest paid to partners on capital contributions and remuneration to working partners are deductible subject to certain limits.
4) Presumptive taxation options available to firms also apply to LLPs in some cases.
1) There are 5 heads of income under the Indian Income Tax Act: income from salary, house property, business or profession, capital gains, and other sources.
2) Computation of taxable income involves determining residential status, classifying income, aggregating, applying clubbing provisions, deducting losses, exemptions, and rebates to calculate total tax payable.
3) Income from salary includes wages, pension, gratuity, fees, commissions, perquisites, and advances. Certain allowances like conveyance, education, transport, and house rent are fully or partially exempted.
4) Income from house property is based on annual value, which is the expected rent (municip
This document discusses the appointment, removal, and resignation of auditors under the Companies Act 2013. It covers the eligibility, qualifications, and disqualifications of auditors. Key points include:
- Only chartered accountants can be appointed as auditors. A firm can be appointed if the majority of partners are practicing in India.
- Certain persons are disqualified from being auditors such as employees of the company, relatives of employees/directors, those with financial interests in the company, etc.
- The first auditor is appointed by the board or members within a specified time period. Subsequent auditors are appointed at the AGM for a 5 year term, subject to rotation requirements for listed/
The document discusses taxation rules for charitable trusts in India. It explains that charitable trusts must be registered under section 12A of the Income Tax Act to receive tax exemptions under sections 11 and 12. It outlines the application process and defines charitable purposes. It also discusses exemption eligibility, filing requirements, audit rules, and sections 80G and 80G that allow donors to receive deductions for donations to registered trusts.
NCLT Vs NCLAT: How do these two tribunals differentiate from each other and what decisions do they make? In this particular presentation, you are going to gain knowledge in depth about these matters. For more information, reach out to Registrationwala.
https://goo.gl/ewh8M7
The doctrine of indoor management says that an outsider contracting with a company can rely on the company's internal authorizations and actions being valid, even if they were not properly or duly authorized according to the company's internal documents. It protects outsiders from a company denying the authority of its own officials. The doctrine is based on the fact that outsiders do not have knowledge of a company's internal operations. Memorandums and articles of association are public documents that provide constructive notice of a company's contents to outsiders, who are presumed to have read and understood them.
Adv. Sagar Bansal - Company Law ProspectusSagar Bansal
This document discusses types of prospectuses, registration requirements for prospectuses, and criminal and civil liabilities related to prospectuses under Indian company law. It outlines different types of prospectuses like shelf, red herring, abridged, and deemed prospectuses. It explains that prospectuses must be registered with the Registrar of Companies and lists the documents that must be submitted. Criminal liability under section 34 can arise if a prospectus contains untrue or misleading statements. Civil liability under section 35 allows investors who suffered losses due to false statements in a prospectus to claim compensation from responsible parties. Two court cases are also summarized regarding misleading statements in prospectuses.
This document provides information about the formation and incorporation of a company as well as the winding up process of a company under Indian law. It discusses the key stages in company formation including promotion, registration, and commencement of business. It also outlines the roles and responsibilities of promoters. For winding up, it describes the different modes including compulsory winding up by tribunal order and voluntary winding up. It discusses the roles of liquidators and various procedures involved in both types of winding up.
This document discusses key changes to the Companies Act introduced in 2013 relating to auditors, directors, and financial reporting. Some key points include:
- Auditor tenure is increased to 6 years from 5 years and mandatory rotation of auditors is introduced for listed companies every 10 years.
- Restrictions are placed on non-audit services provided by auditors to clients.
- A minimum of one woman director is required for certain prescribed classes of companies.
- The maximum number of directorships an individual can hold is increased to 20 companies from 15.
- Consolidated financial statements are now mandatory for companies with subsidiaries/associates. Significant influence is redefined.
- Restate
The document discusses key concepts in Indian income tax law. It defines income tax, describes the two main types of taxes - direct and indirect. It explains key terms like gross total income, total income, and taxable income. It also summarizes the different sources of income and tax rates. The document is presented by Girish M.C., an assistant professor of commerce who provides an overview of concepts to help readers understand India's income tax system at a high level.
The document provides an overview of Limited Liability Partnerships (LLPs) in India. It discusses the history and legislation around LLPs, outlines key features of the LLP Act including structure, partners and compliance requirements, compares LLPs to other business structures, and concludes that LLPs provide a flexible new option for businesses in India.
Objectives & Agenda :
To know when income will be taxable in India and to understand the determination of residential status for individuals, HUF, Firms, AOP/BOI and Companies. To analyse the concept of POEM in relation to determination of residential status of Company.
Losses can be set off against income of the same year or carried forward to future years to offset income. Set off of losses occurs either intra-head, where losses of one source offset income of another source within the same head, or inter-head, where losses offset income across different heads. Strict rules govern which losses can offset which incomes both currently and when carried forward. House property losses can be carried forward 8 years against house property income, while long term capital losses can only offset long term capital gains.
securities
Section 195 prohibits insider trading of securities by any director, key managerial personnel or other officer of a company. Insider trading includes subscribing, buying, selling or dealing in securities based on non-public price sensitive information. It also includes counseling or communicating such non-public information to others. Any person found guilty of insider trading can be punished with imprisonment of up to 5 years or a fine between Rs. 5 lakhs to Rs. 25 crores or 3 times the profits made from insider trading, whichever is higher. The section aims to promote fair trading in securities and prevent the misuse of non-public information for personal gains.
Auditing ,rights and duties of an auditorfizaibrahim6
This document provides an overview of auditing and corporate reporting. It defines an audit as the independent examination of financial information of any entity to express an opinion. An auditor's role is to carefully check the accuracy of business records and ensure organizations maintain accurate financial statements. The document outlines the key features of an audit including critical review of systems and procedures, testing results and operations, and expressing an opinion. It also details an auditor's powers, rights such as access to books and ability to correct wrong statements, and duties like making a report on accounts and compliance with auditing standards.
A company must register any charges on its assets or property with the Registrar of Companies (ROC) within 30 days of creating the charge. This includes charges on tangible or intangible assets located in or outside of India. The company must file Form CHG-1 or CHG-9 with the ROC depending on the type of charge. The ROC may allow registration of charges up to 300 days after creation with a condonation. Upon registration, the ROC will provide a certificate. The company must notify the ROC within 30 days of a charge being fully paid or satisfied. It must also notify the ROC of any receiver or manager appointments over charged assets. The company is required to maintain a register of charges in Form CH
The document provides an overview of key changes introduced in the Companies Act 2013 compared to the previous Companies Act 1956. Some of the major changes include the introduction of new classes of companies like One Person Company and Dormant Company, greater accountability of directors and auditors, emphasis on corporate governance and investor protection, mandatory spending on corporate social responsibility, and establishment of the National Company Law Tribunal. The new Act aims to transition to a regime of self-regulation with simplified procedures and more e-governance.
The document provides an overview of key provisions in the new Companies Act 2013 in India, which aims to transition corporate regulation from a government-regulated regime to one of greater self-regulation. Some key changes include requirements for committees on remuneration and stakeholder grievances, greater powers for audit committees, rules around independent directors, mandatory social responsibility expenditures, restrictions on auditor services, and enhanced auditor liability. The new law reduces the number of sections compared to the previous Companies Act of 1956 and aims to simplify compliance while increasing transparency and investor protections for corporations.
Company audits involve examining a company's financial statements to give an expert opinion on whether they fairly represent the company's financial position. The auditor must follow compliance procedures to ensure reliance on internal controls and perform substantive procedures to check financial data in statements. Auditors must also ensure transactions comply with company law. Appointment, removal, and responsibilities of auditors are outlined in the Company Act.
The document provides a backgrounder on the key highlights of the Companies Act, 2013. Some of the major changes introduced include:
- Definition of new terms like associate company, dormant company, foreign company, independent director, etc.
- Introduction of concepts like One Person Company, small companies with relaxed compliance.
- Faster registration process with e-governance features.
- Stricter disclosure norms for prospectus and allotment of securities.
- Provisions for reduction of share capital and redemption of preference shares.
- Enhanced role of e-governance for various company processes.
- Changes in board composition with limits on minimum and maximum number of directors.
The document discusses various aspects of winding up companies in India. It begins by defining winding up and dissolution, and outlines the key differences. It then discusses reasons for winding up a company and the different modes of winding up, including compulsory winding up ordered by the court, and voluntary winding up by members or creditors. The roles and powers of liquidators and the court during the winding up process are also summarized.
The document summarizes taxation implications for limited liability partnerships (LLPs) in India. Key points include:
1) LLPs are treated as firms under the Income Tax Act and taxed as an independent taxable entity. Profits are taxed at the firm level at 30.9% without surcharge.
2) Partners are not taxed on their share of profits distributed by the LLP.
3) Interest paid to partners on capital contributions and remuneration to working partners are deductible subject to certain limits.
4) Presumptive taxation options available to firms also apply to LLPs in some cases.
1) There are 5 heads of income under the Indian Income Tax Act: income from salary, house property, business or profession, capital gains, and other sources.
2) Computation of taxable income involves determining residential status, classifying income, aggregating, applying clubbing provisions, deducting losses, exemptions, and rebates to calculate total tax payable.
3) Income from salary includes wages, pension, gratuity, fees, commissions, perquisites, and advances. Certain allowances like conveyance, education, transport, and house rent are fully or partially exempted.
4) Income from house property is based on annual value, which is the expected rent (municip
This document discusses the appointment, removal, and resignation of auditors under the Companies Act 2013. It covers the eligibility, qualifications, and disqualifications of auditors. Key points include:
- Only chartered accountants can be appointed as auditors. A firm can be appointed if the majority of partners are practicing in India.
- Certain persons are disqualified from being auditors such as employees of the company, relatives of employees/directors, those with financial interests in the company, etc.
- The first auditor is appointed by the board or members within a specified time period. Subsequent auditors are appointed at the AGM for a 5 year term, subject to rotation requirements for listed/
The document discusses taxation rules for charitable trusts in India. It explains that charitable trusts must be registered under section 12A of the Income Tax Act to receive tax exemptions under sections 11 and 12. It outlines the application process and defines charitable purposes. It also discusses exemption eligibility, filing requirements, audit rules, and sections 80G and 80G that allow donors to receive deductions for donations to registered trusts.
NCLT Vs NCLAT: How do these two tribunals differentiate from each other and what decisions do they make? In this particular presentation, you are going to gain knowledge in depth about these matters. For more information, reach out to Registrationwala.
https://goo.gl/ewh8M7
The doctrine of indoor management says that an outsider contracting with a company can rely on the company's internal authorizations and actions being valid, even if they were not properly or duly authorized according to the company's internal documents. It protects outsiders from a company denying the authority of its own officials. The doctrine is based on the fact that outsiders do not have knowledge of a company's internal operations. Memorandums and articles of association are public documents that provide constructive notice of a company's contents to outsiders, who are presumed to have read and understood them.
Adv. Sagar Bansal - Company Law ProspectusSagar Bansal
This document discusses types of prospectuses, registration requirements for prospectuses, and criminal and civil liabilities related to prospectuses under Indian company law. It outlines different types of prospectuses like shelf, red herring, abridged, and deemed prospectuses. It explains that prospectuses must be registered with the Registrar of Companies and lists the documents that must be submitted. Criminal liability under section 34 can arise if a prospectus contains untrue or misleading statements. Civil liability under section 35 allows investors who suffered losses due to false statements in a prospectus to claim compensation from responsible parties. Two court cases are also summarized regarding misleading statements in prospectuses.
This document provides information about the formation and incorporation of a company as well as the winding up process of a company under Indian law. It discusses the key stages in company formation including promotion, registration, and commencement of business. It also outlines the roles and responsibilities of promoters. For winding up, it describes the different modes including compulsory winding up by tribunal order and voluntary winding up. It discusses the roles of liquidators and various procedures involved in both types of winding up.
This document discusses key changes to the Companies Act introduced in 2013 relating to auditors, directors, and financial reporting. Some key points include:
- Auditor tenure is increased to 6 years from 5 years and mandatory rotation of auditors is introduced for listed companies every 10 years.
- Restrictions are placed on non-audit services provided by auditors to clients.
- A minimum of one woman director is required for certain prescribed classes of companies.
- The maximum number of directorships an individual can hold is increased to 20 companies from 15.
- Consolidated financial statements are now mandatory for companies with subsidiaries/associates. Significant influence is redefined.
- Restate
The document discusses key concepts in Indian income tax law. It defines income tax, describes the two main types of taxes - direct and indirect. It explains key terms like gross total income, total income, and taxable income. It also summarizes the different sources of income and tax rates. The document is presented by Girish M.C., an assistant professor of commerce who provides an overview of concepts to help readers understand India's income tax system at a high level.
The document provides an overview of Limited Liability Partnerships (LLPs) in India. It discusses the history and legislation around LLPs, outlines key features of the LLP Act including structure, partners and compliance requirements, compares LLPs to other business structures, and concludes that LLPs provide a flexible new option for businesses in India.
Objectives & Agenda :
To know when income will be taxable in India and to understand the determination of residential status for individuals, HUF, Firms, AOP/BOI and Companies. To analyse the concept of POEM in relation to determination of residential status of Company.
Losses can be set off against income of the same year or carried forward to future years to offset income. Set off of losses occurs either intra-head, where losses of one source offset income of another source within the same head, or inter-head, where losses offset income across different heads. Strict rules govern which losses can offset which incomes both currently and when carried forward. House property losses can be carried forward 8 years against house property income, while long term capital losses can only offset long term capital gains.
securities
Section 195 prohibits insider trading of securities by any director, key managerial personnel or other officer of a company. Insider trading includes subscribing, buying, selling or dealing in securities based on non-public price sensitive information. It also includes counseling or communicating such non-public information to others. Any person found guilty of insider trading can be punished with imprisonment of up to 5 years or a fine between Rs. 5 lakhs to Rs. 25 crores or 3 times the profits made from insider trading, whichever is higher. The section aims to promote fair trading in securities and prevent the misuse of non-public information for personal gains.
Auditing ,rights and duties of an auditorfizaibrahim6
This document provides an overview of auditing and corporate reporting. It defines an audit as the independent examination of financial information of any entity to express an opinion. An auditor's role is to carefully check the accuracy of business records and ensure organizations maintain accurate financial statements. The document outlines the key features of an audit including critical review of systems and procedures, testing results and operations, and expressing an opinion. It also details an auditor's powers, rights such as access to books and ability to correct wrong statements, and duties like making a report on accounts and compliance with auditing standards.
A company must register any charges on its assets or property with the Registrar of Companies (ROC) within 30 days of creating the charge. This includes charges on tangible or intangible assets located in or outside of India. The company must file Form CHG-1 or CHG-9 with the ROC depending on the type of charge. The ROC may allow registration of charges up to 300 days after creation with a condonation. Upon registration, the ROC will provide a certificate. The company must notify the ROC within 30 days of a charge being fully paid or satisfied. It must also notify the ROC of any receiver or manager appointments over charged assets. The company is required to maintain a register of charges in Form CH
The document provides an overview of key changes introduced in the Companies Act 2013 compared to the previous Companies Act 1956. Some of the major changes include the introduction of new classes of companies like One Person Company and Dormant Company, greater accountability of directors and auditors, emphasis on corporate governance and investor protection, mandatory spending on corporate social responsibility, and establishment of the National Company Law Tribunal. The new Act aims to transition to a regime of self-regulation with simplified procedures and more e-governance.
The document provides an overview of key provisions in the new Companies Act 2013 in India, which aims to transition corporate regulation from a government-regulated regime to one of greater self-regulation. Some key changes include requirements for committees on remuneration and stakeholder grievances, greater powers for audit committees, rules around independent directors, mandatory social responsibility expenditures, restrictions on auditor services, and enhanced auditor liability. The new law reduces the number of sections compared to the previous Companies Act of 1956 and aims to simplify compliance while increasing transparency and investor protections for corporations.
The document provides a backgrounder on the key highlights of the Companies Act, 2013. Some of the major changes introduced include:
- Definition of new terms like associate company, dormant company, foreign company, independent director, etc.
- Introduction of concepts like One Person Company, small companies with relaxed compliance.
- Faster registration process with e-governance features.
- Stricter disclosure norms for prospectus and allotment of securities.
- Provisions for reduction of share capital and redemption of preference shares.
- Enhanced role of e-governance for various company processes.
- Changes in board composition with limits on minimum and maximum number of directors.
This document discusses corporate governance requirements for listed companies in India. It explains that boards must have at least 50% non-executive directors, including a minimum number of independent directors based on whether the chairman is executive or non-executive. Independent directors cannot have any material pecuniary relationships with the company and must meet other independence criteria. It also outlines requirements regarding board meetings, committee membership limits for directors, compliance reporting, replacing independent directors who resign, and having a code of conduct for board members and senior management.
This document discusses corporate governance requirements for listed companies in India. It explains that boards must have at least 50% non-executive directors, including a minimum number of independent directors based on whether the chairman is executive or non-executive. Independent directors cannot have any material pecuniary relationships with the company and must meet other independence criteria. It also outlines requirements regarding board meetings, committee membership limits for directors, compliance reporting, replacing independent directors who resign, and having a code of conduct for board members and senior management.
A new provision relating to internal audit - Dr S. ChandrasekaranD Murali ☆
A new provision relating to internal audit - Article by Dr S. Chandrasekaran published in Business Advisor dated June 10, 2013 (http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/54223)
A précis of the companies (amendment) bill, 2017CS Rahul Jain
The document provides a section-wise comparison of key provisions of the Companies (Amendment) Bill, 2017 and the existing Companies Act, 2013. Some of the major amendments proposed include expanding the definition of related party, associate company and small company. The definition of debenture, net worth and turnover were also amended. A new section regarding liability of members in case the number of members falls below the statutory minimum was inserted. The period for which the Registrar can reserve a name was reduced from 60 to 20 days. Companies were also allowed to adopt a model memorandum.
Secretarial Audit has been mandated by Section 204 of the Indian Companies Act, 2013 for every listed company and other class of companies.
This presentation talks about, introduction, historical background, Objective and Purpose, Scope, Benefits and Beneficiaries of Secretarial Audit. This presentation also talks about offences and penalties as prescribed in Section 204 and 143 of the Companies Act, 2013 for any default committed.
Companies act ,( 2013 new concepts_13.09.2013 (final)arun2211
companies act 2013, new concepts like secretarial audit, auditing standard, secretarial standard, One person company, associate comapny, consolidation of accounts, control, class action suits, dormant company etc
The document summarizes a presentation on key changes proposed in the Companies Bill 2012 compared to the existing Companies Act 1956. It provides a brief history of previous bills introduced and discusses some of the major changes proposed, including new definitions for small companies, one person companies, dormant companies, and provisions related to share capital, prospectus, share premium utilization, bonus shares, and preference shares for infrastructure projects. The presentation focuses on explaining the key changes in the bill at a high level.
Exposure Draft SECRETARIAL STANDARD ON REPORT OF THE BOARD OF DIRECTORSGAURAV KR SHARMA
The document outlines requirements for the Report of the Board of Directors according to the Secretarial Standard issued by the Institute of Company Secretaries of India. It provides definitions for key terms and outlines mandatory and additional disclosures required in the report by various laws. The report is an important means of communication between the board and stakeholders regarding the company's performance, prospects, management quality, and other relevant information for the financial year. Companies must prepare the report according to the principles in this standard and applicable laws.
Companies amendment act 2017 amended sections with analysismystartupvakil.com
The Companies Amendment Act, 2017 was passed by the Rajya Sabha in December 2017 and received presidential assent in January 2018. The amendments will come into force on dates notified by the Ministry of Corporate Affairs. This article summarizes the key amendments made to section 2, which defines terms used in the Act. Some of the important changes include expanding the definition of "associate company", including cost accountants in practice in the definition of "cost accountant", and increasing the limits for paid-up capital and turnover to qualify as a small company.
LEGISLATIVE FRAMEWORK OF CORPORATE GOVERNANCE UNDER COMPANIES ACT, SEBIJyoti Saini
The document discusses the legislative framework for corporate governance in India under the Companies Act, 2013 and SEBI Act, 1992. It outlines key aspects like the meaning and definition of corporate governance, provisions around corporate social responsibility under Section 135, roles of the board of directors and CSR committee, and disclosure norms under Clause 49 of the listing agreement. It also discusses regulations by SEBI to promote effective corporate governance practices in listed companies.
The document outlines key definitions, classifications, and provisions around share capital and debentures in the Companies Bill 2012. It defines terms like private company, associate company, dormant company, and introduces a new type of company called a One Person Company. It covers requirements for share capital, issuance of shares, reduction of share capital, debentures, and other related topics. E-governance is also proposed for various company processes.
This document provides a summary of key proposed changes to the Companies Act based on the Companies Bill passed by the Lok Sabha and Rajya Sabha in 2012-2013. Some of the major changes summarized include introducing the concepts of One Person Company and small companies, increasing the limit on maximum number of members in a private company, mandating at least one woman director, ratification of auditor appointments every year, and defining the term "financial statement" for the first time. The document was prepared by the Institute of Company Secretaries of India based on the passed bill but they do not own responsibility for any errors or omissions.
This document provides a summary of key proposed changes to the Companies Act based on the Companies Bill passed by the Lok Sabha and Rajya Sabha in 2012-2013. Some of the major changes summarized include introducing the concepts of One Person Company and small companies, increasing the limit on maximum number of members in a private company, mandating at least one woman director, ratification of auditor appointments every year, and defining the term "financial statement" for the first time. The document was prepared by the Institute of Company Secretaries of India based on the passed bill but they do not own responsibility for any errors or omissions.
Companies Act, 1956 And Companies Bill, 2012Manu Patra
The document provides a comparative analysis of key aspects of the Companies Act of 1956 and the proposed Companies Bill of 2012. Some of the major changes introduced in the Bill include more comprehensive definitions, concepts of one person company and small companies, duties and roles of directors, provisions around independent directors, corporate social responsibility, e-governance, auditor accountability, and protection for minority shareholders. New concepts like serious fraud investigation office, cross-border mergers, and uniform financial year are also introduced.
The document provides guidance on preparing, filing, and certifying the Annual Return for companies in India. It defines key terms and explains that the Annual Return contains important company information like registered office details, shareholding patterns, board and committee meetings, and remuneration. It must be filed within 60 days of the AGM and certified by a Company Secretary for listed or large companies. The Annual Return gives stakeholders a snapshot of the company's status and is important for transparency.
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Tired of chasing down expiring contracts and drowning in paperwork? Mastering contract management can significantly enhance your business efficiency and productivity. This guide unveils expert secrets to streamline your contract management process. Learn how to save time, minimize risk, and achieve effortless contract management.
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NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
The report *State of D2C in India: A Logistics Update* talks about the evolving dynamics of the d2C landscape with a particular focus on how brands navigate the complexities of logistics. Third Party Logistics enablers emerge indispensable partners in facilitating the growth journey of D2C brands, offering cost-effective solutions tailored to their specific needs. As D2C brands continue to expand, they encounter heightened operational complexities with logistics standing out as a significant challenge. Logistics not only represents a substantial cost component for the brands but also directly influences the customer experience. Establishing efficient logistics operations while keeping costs low is therefore a crucial objective for brands. The report highlights how 3PLs are meeting the rising demands of D2C brands, supporting their expansion both online and offline, and paving the way for sustainable, scalable growth in this fast-paced market.
During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
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25. Get Its Name, Address Of Its Registered Office And
The Corporate Identity Number Along With Telephone
Number, Fax Number, If Any, E-mail And Website Addresses, If
Any, Printed In All Its Business Letters, Billheads, Letter Papers
And In All Its Notices And Other Official Publications; And
Have Its Name Printed On Hundies, Promissory Notes, Bills Of
Exchange And Such Other Documents As May Be Prescribed
25
29. Intends to prohibit the payment of any dividend to
its members
• the Central Government may, by licence issued in such
manner as may be prescribed, and on such conditions as it
deems fit, allow that person or association of persons to be
registered as a limited company under this section without
the addition to its name of the word “Limited”, or as the case
may be, the words “Private Limited”, and thereupon the
Registrar shall, on application, in the prescribed form,
register such person or association of persons as a
company under this section.
29