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Fast growing countries like India have attracted large shareholding by international investors and large Indian financial institutions with global ambitions. So, if a company wants institutional investor participation, it will have to convincingly raise the quality of corporate governance practices. Indian companies thus need to adopt the best practices such as the OECD Corporate Governance
Know MoreAs one of its mandatory recommendations, the Kumar Mangalam Birla Committee propounded the need to form a board committee under the chairmanship of a non-executive director to specifically look into the redressing of shareholder complaints like transfer of shares, non-receipt of balance sheet, non-receipt of declared dividends etc. The Committee believed that the formation of
Know MoreMCA Ministry has brought out amendments relating to Corporate Social Responsibility by widening the list of entities through which companies can undertake CSR activities. Accordingly, companies can now carry on CSR activities through Section 8 company not only which is established in association with its holding or subsidiary or associate company but also with any other company and its
Know MoreKHETAN INDUSTRIES PRIVATE LIMITED VS. MANJU RAVINDRA PRASAD KHETAN. In this case it was held by the court that the shareholders have a right to remove the directors under section 284 by passing ordinary resolution and section 284 provides an inbuilt mechanism for the enforcement of the right and civil court has no jurisdiction to
Know MoreASSESSMENT / REASSESSMENT / APPEALS / SEARCH The Gujarat High Court in Raaj Ratna Metal Industries Ltd vs. ACIT has held that if AO contests the audit objection but still reopens u/s 147 to comply with the audit objection, it means he has not applied his mind independently and the reopening is void The Kolkata ITAT
Know MoreSection 168, the Companies Act, 2013: Resignation of directors Corresponding sections of the Companies Act, 1956: None this is a newly introduced section. DIRECTORS RESIGNATION UNDER COMPANIES ACT, 2013:- The Director intending to resign shall send notice in writing to the Company. The resignation of a director shall take effect from: The date on which the
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