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Annual Compliance Schedule for Listed Companies: SEBI & Companies Act
Definition of Listed Company:A "listed company" refers to any company with securities listed on a recognized stock exchange.Key Features of Listed Companies:Shares must be in dematerialized form.Secre...
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Annual Compliance Schedule for NBFCs under the Companies Act, 2013
Foundation: According to Section 45-1A of the RBI Act, 1934, NBFCs must acquire a Certificate of Registration (CoR) from the RBI to start or continue business operations as per Section 45-1A of the RB...
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Annual Compliance Schedule for Large Private Limited Companies
Definition of a Private Company:Under Section 2(68), a "Private Company" is characterized by the following clauses:(i) Restricting the transfer of shares, (ii) Limiting membership to 200 individuals,...
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Annual Compliance Schedule for Public Limited Companies
Defining a Public Company:A "Public Company" is characterized as follows:It is not a private company.A subsidiary of a non-private company is also deemed a public company, even if its articles describ...
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Directors' Rotation and Retirement Under Section 152(6): A Comprehensive Guide
Overview of Directors' Rotation in Public CompaniesSection 152(6) of the Companies Act is a crucial provision regulating the process of retirement by rotation for directors in public companies, exclud...
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Issuance of Share Certificates in Indian Companies
The issuance of share certificates is a vital process for companies limited by shares, as these certificates stand as prima facie evidence of title to shares held by shareholders. A share certificate...
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Guidelines for Appointing CTO, COO, and CMO as KMP in Indian Companies
Introduction: Recognizing KMP under the Companies Act, 2013The Companies Act, 2013 sets forth parameters for Key Managerial Personnel (KMP), emphasizing governance and compliance for a company's manag...
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Essential Forms for Annual Filing of Private Limited Companies: AOC-4 and MGT-7
Private Limited Companies in India are required to complete annual filing procedures to maintain transparency and comply with legal standards. This discussion provides an overview of the forms, AOC-4...
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Addressing Material Misstatements in DRHP: SEBI's Regulatory Responses
Understanding Material MisstatementA material misstatement in the context of a DRHP is any incorrect, deceptive, or incomplete detail that could influence an investor’s decision-making process. As per...
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Timeliness in Disclosure: Assessing Delayed Reporting of Significant Events under Schedule III of SEBI LODR
1. IntroductionThe Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR') outlines specific timelines in sub-regulation 30(6) for disc...
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Unveiling the Merger Path for LLPs in India
Compromise and Arrangements Under Sections 60-62 of the LLP Act, 2008The processes for LLP mergers largely mirror those laid out in the Companies Act. Delineated below are relevant sections:Section 60...
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Initial Public Offerings: The Mystery of Listing Gains
Understanding the IPO ProcessBefore delving into listing gains, it's essential to grasp the IPO process. Companies decide to go public for various objectives, such as expanding their capital resources...
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Engagement of Auditors as per Companies Act, 2023
Objective of Auditor Appointment:The auditor's role is to safeguard shareholder interests by lawfully examining company accounts managed by directors and communicating the company's actual financial s...
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Reviving Dormant Companies Removed from the Register
1. OverviewThe regulatory framework for the incorporation, management, and dissolution of companies in India is governed by the Companies Act, 2013. Among its key provisions, Section 252 plays an esse...
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Extension of Demat Deadline: Implications for Non-Small Private Limited Companies
1. Changes to Demat Compliance Date for Non-Small Private Limited CompaniesSummary: As per Ministry of Corporate Affairs (MCA) notification dated February 12, 2025, the deadline for mandatory demateri...
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Introduction to Enhanced Compliance for SME IPOs Due to ICDR Amendments
1. Enhanced Criteria for SME IPOs Under ICDR(i) Revised Promoter Eligibility:(a) Promoter Qualifications: SMEs must ensure their promoters and promoter groups, including any selling shareholders, fulf...
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Penalty Reduction in Non-Compliance with Resident Director Requirement: A Case Analysis
Overview of the Case A non-profit organization, M/s. Urban Solutions for Water and Sanitation in India, failed to comply with the Companies Act 2013, section 149(3) requirement to appoint a resident d...
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Interpretation of 'Resident of India' Under Schedule V of the Companies Act, 2013
Introduction:Legal Framework:As defined under Section 196(4) of the Companies Act, 2013 (henceforth referred to as 'the Act'), the appointment of a managing director, whole-time director, or manager (...
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Essential Committees Under the Companies Act, 2013
The Companies Act, 2013, outlines the necessity for establishing various committees to ensure effective corporate governance and compliance. This article rephrases the initial discussion of these mand...
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SEBI's Clarification on Compliance Officer’s Role in Listed Companies
IntroductionSEBI released a circular on April 1, 2025, clarifying the role and placement of Compliance Officers within listed companies. This is aligned with Regulation 6(1) of SEBI's Listing Obligati...