ICL
TG
Companies Act – 2013: Secretarial Audit - TaxGuru
ICL
TG
Jan 25
Jan 20
Companies (Accounts) Amendment Rules, 2015
The learned experts at the august professional bodies, such as ICAI, looked to as active partners in shaping a resurgent India, it is hoped, would not fail but devoutly seize the opportunity, rise to the occasion in all sincerity , and make their profoundly valuable contribution in the matter of undeniable complicity.
<<<<<
Companies Act, 2013: Messed Opportunity - Moneylife
cross refer >
<<<
One Person Co.
TG
(selecteds)
OPC – One Person Company – The next big thing – TaxGuru
discussedthe broad nature of the changes
the amendment has become law in the form of the Companies (Amendment) Act, 2015
TG
Companies Act – 2013: Secretarial Audit - TaxGuru
Subject to an in-depth study of the
new provision and its implications / ramifications, no denying, it has a
commendable/laudable objective; in that, the mandated requirement has very
rightly underlined the most crucial and predominant role of a company secretary
in the field of corporate good governance. As is imagined, if implemented and
complied with, DILIGENTLY and in all seriousness, the Secretarial audit, - NOW
GIVEN, though overdue, THE SHAPE AND FORM OF A FORMAL LEGAL REQUIREMENT, -might
be expected to usher a new era, and most of the vexing ‘irregularities’ and ‘illegalities’
galore coming to surface in recent times almost perennially, to the chagrin and
discomfort of the stakeholders in its comprehensive sense, and bring about a
radical change in the functioning of 'companies'. In fact, in one's independent
perception and longstanding conviction, there could be, if rightly viewed, no
valid reason for not making the subject formal requirement applicable to all
such entities being accorded the status of a 'company' within its extended
meaning under the new company law.
ICL
Paper on SSRN
titled “The Evolution of Corporate
Law in Post-Colonial India: From Transplant to Autochthony”.
TG
Jan 25
<> As per Rule 24 of the Companies (Incorporation) Rules,
2014 cited above, the contents of Form No. INC-21 “shall be verified by a
Company Secretary in practice or a Chartered Accountant or a Cost Accountant in
practice.”. As viewed and understood by one, the professional required to so
verify has the onerous duty and responsibility to mindfully examine and fully
satisfy himself about the correctness /truth of company’s claim/averment to
have ‘commenced business’ at a given point in time.
That is not going to be that easy, as made to appear. As
any professional having knowledge of income-tax law needs to be aware, there
has always been, and continues to be, a grave doubt and basic controversy
rested on the two mutually distinct concepts namely, – ‘set up’ and
‘commencement’. The line of distinction is, however, not so distinct/visible
but invariably prove so thin as to be amenable to any definitive conclusion.
And plethora of case law is seen to bear out the enormity of practical problems
faced with, on a case to case basis, in taking a proper and/or acceptable view
in that respect. In such a scenario, and having that in focus, it appears to
have been entirely left to the wisdom of certifying professionals to embark on
an intelligent inquiry, and diligently examine, before taking ‘a view’, case-wise.
Company law experts group, preferably in co-ordination and through inter-action
with tax experts, perhaps, are equipped to, after due deliberation, come out
with specific points of useful guidance to the fraternity.
On a second thought: Apparently, because of the intricacies
the matter entails, ICAI and ICSI, as the concerned governing bodies / regulatories,
would do well, in all seriousness, to promptly make a study, if not so done by
now, and be of reliably eminent guidance.
Jan 20
Companies (Accounts) Amendment Rules, 2015
Looking at the series of such notifications, besides long
line of departmental circulars, being issued off and on, as a routine affair, no
right-THINKING (- MINDED) person, he be an expert or otherwise on company law, can
afford not to appreciate the good sense / righteous substance in the criticism
increasingly being floated in learned quarters that the 2013 company law has
proved a ‘MESSED OPPORTUNITY’.
Earlier the Better, for one and all concerned ,and for
the common good, that the vast community of lawyers and accountants at large
come out openly with their impartial and upright viewpoints, particularly
helpful, well-considered, and multifaceted suggestions, on the ongoing exercise in
implementing the new corporate law, in a piecemeal/truncated manner, much to
the chagrin of the corporate world.
The learned experts at the august professional bodies, such as ICAI, looked to as active partners in shaping a resurgent India, it is hoped, would not fail but devoutly seize the opportunity, rise to the occasion in all sincerity , and make their profoundly valuable contribution in the matter of undeniable complicity.
<<<<<
Companies Act, 2013: Messed Opportunity - Moneylife
The NDA government has been as ham-handed as the UPA
which thrust a messy Companies Act on us
|
cross refer >
INDIAN CORPORATE LAW: Class Actions in the ...
INDIAN CORPORATE LAW: Damodaran Committee Report ...
One Person Co.
TG
(selecteds)
OPC – One Person Company – The next big thing – TaxGuru
| RElated >> |
www.thehindubusinessline.com/companies/...new-company-law/article60
<Faced with implementation hurdles, the Confederation of Indian Industry
(CII) has called for a comprehensive review of the new Companies Act
2013 and the rules issued thereunder.
Due to the hurried pace in which the new law and its rules were
implemented, industry barely got an opportunity to absorb and understand
the provisions or their impact in entirety, Ajay Shriram, CII
President, said in a statement.
The rush to notify the new law has introduced disruptive features,
making it harder for corporates to ensure compliance, he said.
Many new concepts are being introduced in the legislation for the first
time, and practices with respect to these need to be allowed to evolve
over time....>
|
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