Detailed Procedure for the termination of employment of Company Secretary: The Company secretary is appointed as a whole time employee of the Company. In order to remove the Company Secretary, the Company shall serve the notice of termination to the Company Secretary in terms with the Appointment Letter signed between the Company and the Company…

Introduction Reserve Bank of India has introduced mandatory obtaining of Legal Entity Identifier (“LEI”) registration vide circular FMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018, issued by the Reserve Bank on requirement of Legal Entity Identifier (LEI) for participation in non-derivative markets. Legal Entity Identifier (LEI) is a unique 20-character alphanumerical identifier (code) of a Legal Entity assigned…

Companies Act, 2013 makes the provision of passing the resolutions by circulation, to transact urgent matters in cases where holding of Board Meeting is not possible. As per Section 175 of Companies, Act 2013 read with Rule 5 of Companies (Meetings of Board and its Powers) Rules, 2014 the Board of directors may approve/reject the…

A quorum is the minimum number of directors who must attend the proceedings in order to transact business validly at a duly convened Board meeting. The directors must not be disqualified to participate in the meeting. Unless the quorum is present at the meeting, it shall not be deemed to have been properly held. Section…

The shareholders in general meetings and the directors acting collectively as a Board conduct the affairs of a company. Therefore, directors frequently meet to discuss various matters relating to the management and administration of the affairs of the company in the interest of stakeholder. Section 173 of Act contains provisions which deal with Meetings of…

1. What is financial statement? As per section 2(40) of Companies Act 2013, Financial statement in relation to company includes- • a balance sheet as at the end of the financial year; • a profit and loss account, or in the case of a company carrying on any activity not for profit, an income and…

As per section 137 of Companies Act, 2013 a copy of financial statements of a company are required to be filed with the Registrar along with Form AOC-4 every year for each Financial Year. It should be filed within 30 days of the date of annual general meeting with such fees or additional fees as…

XBRL stands for “extensible business reporting language”. Ministry of Corporate affairs in its endeavor to bring harmony in filing of various reports by some big companies, introduced Companies (Filing of documents & Forms in Extensible Business Reporting Language) Rules, 2015. As per Rule 3, following class of companies shall file their financial statements and other…

Place of keeping books of account? Section 128(1) of the Companies Act, 2013 requires every company to prepare and keep at its registered office books of account and other relevant books and papers and financial statement for every financial year. All or any of the books of account aforesaid and other relevant papers may be…

Introduction: Sexual harassment is unwelcome or inappropriate actions from mild transgressions to sexual abuse or assault. It is a form of gender discrimination which violates fundamental right under Article 14, 15 and 21 of the Constitution of India which guarantees right to equality and right to life. Employer is obliged to provide safe workplace for…

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