Section 290 of the Companies Act, 2013 lays down that subject to directions by the tribunal, if any, in this regard, the Company liquidator, in a winding up of a company by the tribunal, shall have the power – Professional Assistance to Company Liquidator The Company liquidator may, with the sanction of the tribunal, appoint […]
Definition of Related Party Transaction According to SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 Regulation 2(1) (zc), a “related party transaction” refers to a transfer of resources, services, or obligations between a listed entity and a related party. This includes transactions where a price is charged, and it encompasses both single transactions and a […]
Every company is obligated to maintain one or more registers in Form MBP 4, providing detailed information about all contracts or arrangements. The register should include the following particulars: Entries in the register must be made promptly and chronologically whenever there is a cause to do so. The entries should be authenticated by the company […]
Until now, individuals holding health insurance policies were limited to obtaining cashless treatment exclusively at network hospitals affiliated with the insurance provider. In cases involving non-network hospitals, policyholders were required to bear the entire expense upfront and navigate the intricate process of claim reimbursement. To address this, the General Insurance Council, in collaboration with general […]
On January 21, 2023, the Ministry of Corporate Affairs (MCA) issued the Companies (Share Capital and Debentures) Amendment Rules, 2023, to modify the existing Companies (Share Capital and Debentures) Rules of 2014. The primary focus of these amendments is the revision of various forms, including SH-7, SH-8, SH-9, SH-11, and SH-14. These changes, effective from […]
Comprehending Goods and Services Tax (GST) rates is pivotal for entrepreneurs as they can influence the pricing of goods and services. The GST Council of India regularly revises these rates, impacting the costs of various items and services in the nation. In this article, we will delve into the present GST rates for common goods […]
The Central Board of Indirect Taxes and Customs (CBIC) has implemented the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme in the GST framework, specifically designed to support small taxpayers with turnovers below Rs. 5 crores. This initiative offers the advantage of filing GST returns on a quarterly basis, alleviating the financial and […]
Audit Committee is one of the main pillars of the corporate governance mechanism in any company. The Committee is charged with the principal oversight of financial reporting and disclosure and aims to enhance the confidence in the integrity of the company’s financial reporting, the internal control processes and procedures and the risk management systems.The constitution […]
The Duties and Responsibilities can be broadly classified into two categories: Duties of Directors under Section 166 of the Companies Act, 2013: The following duties of the directors have been provided under Section 166 of the Companies Act, 2013 and apply to all types of directors including Independent Directors. Powers of the Board In terms […]
Board composition is one of the most important determinants of board effectiveness. Beyond the legal requirement of minimum directors, a board should have a judicious mix of internal and independent directors with a variety of experience and core competence. The potential competitive advantage of a Board structure comprising executive directors and independent non-executive directors lies […]