Daily Archives: May 9, 2016

Duty Drawback Scheme: Re-export under sec 74 of Customs Act 1962

By | May 9, 2016

Circular No. 16/2016-Customs F.No. 603/01/2016-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs New Delhi, dated 9 th May, 2016 To Principal Chief Commissioners / Chief Commissioners Principal Directors General / Directors General Principal Commissioners/Commissioners, all under CBEC Subject: Audit Report No.15/2011-2012, Section 2 – Duty Drawback Scheme:… Read More »

Managerial remuneration : section 197 of Companies act 2013

By | May 9, 2016

Section – 197 Companies Act, 2013 (Enforced with effect from 1-4-2014.) Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits. 197. 1(1) The total managerial remuneration payable by a public company, to its directors, including managing director and whole-time director, and its manager in respect of any financial year shall… Read More »

Independent directors under Companies Act 2013

By | May 9, 2016

RULES FRAMED UNDER COMPANIES ACT, 2013 Companies (Appointment and Qualification of Directors) Rules, 2014 Number of independent directors (rule 4) 4. The following class or classes of companies shall have at least two directors as independent directors (i) the Public Companies having paid up share capital of ten crore rupees or more; or (ii) the… Read More »

Woman director on the Board under Companies Act 2013

By | May 9, 2016

RULES FRAMED UNDER COMPANIES ACT, 2013 Companies (Appointment and Qualification of Directors) Rules, 2014 Woman director on the Board 3. The following class of companies shall appoint at least one woman director— (i) every listed company; (ii) every other public company having— (a) paid-up share capital of one hundred crore rupees or more; or (b)… Read More »

Anti-competitive agreements as per Competition act 2002

By | May 9, 2016

Section – 3, COMPETITION ACT 2002 (Enforced with effect from 20-5-2009) CHAPTER II PROHIBITION OF CERTAIN AGREEMENTS, ABUSE OF DOMINANT POSITION AND REGULATION OF COMBINATIONS Prohibition of agreements  Anti-competitive agreements. 3. (1) No enterprise or association of enterprises or person or association of persons shall enter into any agreement in respect of production, supply, distribution,… Read More »

Audit Committee as per Section 177 Companies Act 2013

By | May 9, 2016

Section – 177 Companies Act, 2013 (Enforced with effect from 1-4-2014.) Audit Committee 177. (1) The Board of Directors of every listed company and such other class or classes of companies, as may be prescribed1, shall constitute an Audit Committee. 2(2) The Audit Committee shall consist of a minimum of three directors with independent directors… Read More »

Schedule I Companies Act 2013

By | May 9, 2016

Schedule I Companies Act, 2013 (Enforced with effect from 1-4-2014.) SCHEDULE I (See sections 4 and 5 ) TABLE A MEMORANDUM OF ASSOCIATION OF A COMPANY LIMITED BY SHARES 1st The name of the company is “…………………………Limited/Private Limited”. 2nd The registered office of the company will be situated in the State of ………………………………….. 3rd (a)… Read More »

APPOINTMENT AND QUALIFICATIONS OF DIRECTORS

By | May 9, 2016

Section – 149, Companies Act, 2013 (Enforced with effect from 1-4-2014) CHAPTER XI APPOINTMENT AND QUALIFICATIONS OF DIRECTORS Company to have Board of Directors . 149.1(1) Every company shall have a Board of Directors consisting of individuals as directors and shall have— (a) a minimum number of three directors in the case of a public company,… Read More »

Additional director, alternate director & nominee director

By | May 9, 2016

Section – 161, Companies Act, 2013 (Except sub-section (2), section 161 enforced with effect from 12-9-2013. Sub-section (2) of section 161 enforced with effect from 1-4-2014.) Appointment of additional director, alternate director and nominee director  161. (1) The articles of a company may confer on its Board of Directors the power to appoint any person,… Read More »