Provisions of CA 2013

Constitution of Stakeholders Relationship Committee under Section 178(5) of Companies Act 2013

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Constitution of Stakeholders Relationship Committee under Section 178(5) of Companies Act 2013 (adsbygoogle = window.adsbygoogle || []).push({}); Section 178(5) of the Companies Act 2013 provides that the Board of directors of a company which consists of more than one thousand shareholders, debenture-holders, deposit-holders and any other security holders at any time during a financial year … Read more

Maximum Limit for Payment of Sitting Fees to Directors and Applicability of Service Tax Under Reverse Mechanism

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Maximum Limit for Payment of Sitting Fees to Directors and Applicability of Service Tax Under Reverse Mechanism Maximum Limit for Payment of Sitting Fees to Directors (adsbygoogle = window.adsbygoogle || []).push({}); Rule 4 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 provides that a company may pay a sitting fee to a … Read more

Composition and Role of Audit Committee

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Composition and Role of Audit Committee Applicability : Section 177 read with the Companies (Meetings of Board and its Powers) Rules, 2014 provides that:— (adsbygoogle = window.adsbygoogle || []).push({}); Every listed company and certain classes of public companies to constitute an Audit Committee, comprising a minimum of three directors, with Independent Directors forming a majority. … Read more

Key Provisions of Corporate Social Responsibility

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Key Provisions of Corporate Social Responsibility Applicability of CSR As per section 135(1) of the Companies Act, 2013, the companies having networth of Rs.500 crore or more; or Turnover of Rs.1,000 crore or more; or Net Profit of Rs.5 crore or more during any financial year shall be required to constitute a Corporate Social Responsibility … Read more

Composition and Role of CSR Committee

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Composition and Role of CSR Committee Composition of CSR Committee (adsbygoogle = window.adsbygoogle || []).push({}); 1.   The CSR Committee shall comprise of three or more directors, out of which at least one director shall be an independent director. Rule 5 provides that in case of an unlisted public or private company which is not required … Read more

Quorum For Board Meeting Under Companies Act 2013

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Quorum For Board Meeting Under Companies Act 2013 (adsbygoogle = window.adsbygoogle || []).push({}); In terms of section 174 of the Companies Act, 2013, the quorum for a Board meeting shall be one-third of its total strength of directors who are in office or two directors, whichever is higher. Any fraction arising in counting of one-third … Read more

Provisions Relating to Minimum Number of Board Meetings to be held Under Companies Act 2013

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Provisions Relating to Minimum Number of Board Meetings to be held Under Companies Act 2013 Regulation 67 of Table F of the Act provides as under:— “(i) The Board of directors may meet for the conduct of business, adjourn and otherwise regulate its meetings, as it thinks fit. (ii) A director may, and the manager … Read more