Today, SEBI has issued a Master Circular to bring the provisions of Clause 49 (Corporate Governance) and Clause 35B (E-Voting) in line with the new Companies Act. The master circular is a consolidated document and is intended to supersede all earlier circulars issued by SEBI on Clauses 35B and 49 of the Equity Listing Agreement.... Continue Reading →
Compliances with Companies Act, 2013 for Private Limited Companies (Part 1)
The following is intended to provide a general overview of the Companies Act, 2013 (“Act”) as applicable to private limited companies. This first part deals with changes to stationery and company material as well as repayment of deposits prior to commencement of the Act: Stationery One of the changes that companies need to effect immediately... Continue Reading →
Which compliance is immediate: Independent Directors or Resident Directors
A mix-up has arisen with respect to compliance with Section 149 (3). Section 149 (3) imposes a requirement on every company that the board shall have a resident director i.e. a person who has been in India for a total period of not less than one hundred and eighty-two days in the previous calendar year.... Continue Reading →
Clarity on Co-existence – Powers of Board
The Ministry of Corporate Affairs ("MCA") has issued a clarification last night with regard to section 180 of the Companies Act, 2013. Circular no 04/2014 (dated 25th March 2014) has clarified that resolutions passed under section 293 dealing with restrictions on powers of Board of Directors of the Companies Act, 1956 prior to 12.09.2013 with reference... Continue Reading →
An Act to prohibit and redress sexual harassment against women in the workplace
Nearly 9 months after the Act received Presidential Assent, the Central Government on 9th December 2013, has notified the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The notification of this Act is a small albeit important step in the direction towards ensuring free and fair working environments for women in... Continue Reading →
Covered or Not Covered? Thats the question!
You will find my posts on liabilities of a principal employer and duties of a contractor here and here. This next part on contract labour legislation is intended to detail a) Who or which category of workers is this legislation intended to benefit; and b) What are the activities that are covered under the Contract... Continue Reading →
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