Applicability of Secretarial Audit under Companies Act, 2013 (adsbygoogle = window.adsbygoogle || []).push({}); SECRETARIAL AUDIT Secretarial audit is a comprehensive audit to check whether the concerned company is complying with the provisions of rules, regulations and procedures mentioned in various laws. Secretarial audit is carried out by an independent professional to ensure that the company … Read more
Appointment of Compliance Officer Under Listing Agreement (adsbygoogle = window.adsbygoogle || []).push({}); Under clause 47(a) of the equity listing agreement, a listed company has to appoint the Company Secretary to act as a Compliance Officer who will be responsible for monitoring the share transfer process and reporting to the company’s Board in its every meeting. … Read more
Statutory Duties and Liabilities of Company Secretary (adsbygoogle = window.adsbygoogle || []).push({}); Apart from general secretarial duties with regards to organizing Board and general meetings, keeping minutes of the meeting, recording approved share transfers, corresponding with directors and shareholders, maintaining statutory records, filing necessary returns with Registrar of Companies etc., the Companies Act, 2013 has … Read more
Key Provisions Relating to Managerial Remuneration (adsbygoogle = window.adsbygoogle || []).push({}); There is no restriction relating to managerial remuneration for a private company. [Section 197(1)] Total managerial remuneration payable by a public company to its directors (including Managing Director and Whole Time Director) and Manager in a financial year shall not exceed eleven percent of … Read more
How to Transfer Shares In Private Company (adsbygoogle = window.adsbygoogle || []).push({}); 1. Shares of a private company are not marketable securities due to restriction on right to transfer. Such shares by their very nature are not freely transferable in the market. The objective behind the right of restriction on the transfer of shares is … Read more
Definition and Types of Bonds (adsbygoogle = window.adsbygoogle || []).push({}); Bonds are typically issued by financial institutions, government undertakings and large companies. The interest rate is assured and is paid at a fixed interval. On maturity, the principal is repaid. Bond is a form of loan. The holder of the bond is the lender and … Read more
Meaning Definition and Types of Debentures (adsbygoogle = window.adsbygoogle || []).push({}); A debenture is an instrument of debt executed by the company acknowledging its obligation to repay the sum at a specified rate and also carrying an interest. It is one of the methods of raising the loan capital of the company. A debenture is … Read more
Issue of Shares at Premium under Companies Act 2013 (adsbygoogle = window.adsbygoogle || []).push({}); The word ‘premium’ implies something more than normal. With reference to shares and securities issued by a company, premium means a sum over and above the face or par value of a security. It is the amount which is excess of … Read more
List of Resolutions to be Filed With ROC in MGT-14 (adsbygoogle = window.adsbygoogle || []).push({}); Pursuant to section 117 of the Companies Act, 2013, certified copies of the following resolutions/agreements alongwith explanatory statement, wherever applicable, are required to be filed electronically with the Registrar of Companies in e-Form MGT-14 within 30 days after the passing … Read more
