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 →
Checkpoints for the principal employer – contractor relationship
The most popular question is what are the points to be kept in mind, while entering into an arrangement with a contractor. One of the most important factors to keep in mind while drafting agreements and/ or during appointment of contractor is employee registrations such as provident fund (PF) / employees’ state insurance (ESI) etc.... Continue Reading →
Welcoming Angel Investors: SEBI’s in line with Union Budget
The Union Finance minister in his budget speech said: “Angel investors bring both experience and capital to new ventures. SEBI will prescribe requirements for angel investor pools by which they can be recognised as Category I AIF venture capital funds.” And SEBI did! [Incidentally, the Union Finance Minister also said: “Small and medium enterprises, including... Continue Reading →
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