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AUDIT COMMITTEE THRESHOLD LIMIT FOR CONSTITUTION Section 177 of the Act read with rule 6 of the Companies (Meetings of the Board and is Powers) Rules, 2014 the Board of directors of every listed company and the following classes of companies is required to constitute Audit Committee of the Board- (i) all public companies with […]
MEETINGS OF BOARD Every company shall hold its first board meeting within 30 days from the date of incorporation. After the first board meeting, every company shall hold minimum four board meetings in a calendar year. In holding board meetings during the year, there shall not be more than 120 days gap between two consecutive […]
AUDIT COMMITTEE The primary purpose of a company’s audit committee is to provide oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with laws and regulations. This committee is sometimes set up as the requirement of law and sometimes setting up as adoption of best practices of good corporate governance. Relevant […]
INTRODUCTION Companies Act, 2013 introduces Secretarial Audit, a check on compliances required under the Companies Act, its allied Laws, Labour Laws and various other Laws such as Economic Laws, FEMA etc. applicable from time to time on to the Company. Secretarial Audit is a check/create on/a system or process in the Company commensurate with the […]
An audit committee is one of the major operating committees of a company’s board of directors that is in charge of overseeing financial reporting and disclosure. It aims to enhance the confidence in the integrity of the company’s financial reports and announcements. Section 177 of the Companies Act, 2013 and Rule 6 and 7 of […]
Under the Companies Act 2013. For this purpose, every establishment must understand its options and have a legal structure that is permitted by the Indian government. One must choose the best legal structure from permitted models to do business and achieve success. Choosing the right legal structure is aligned to the goals of the […]
Fresh issuance of shares are generally done after receipt of application money from the prospective investor in the bank of the Concerned Company, however in addition to this Companies Act, 2013 also provides provision for allotment of shares in consideration other than cash. Though this concept looks very easy in case of allotment to be […]
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