A Board can set up committees with particular terms of reference when it needs assistance or when an issue requires more resources and attention. A Board can either delegate some of its powers to the committee, enabling it to act directly, or can require the recommendations of the committee to be approved by the Board. […]
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Written policies and procedures integrate the guidelines, rules, focus and principles of an organization. In particular, they standardize certain operations for conformity, discuss on how to operate a business, focussing on managing risk resulting in measuring the overall consistency of the company. Here are some examples of common workplace policies that could assist your workplace: […]
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A Director is a part of a collective body of Directors called the Board, which is responsible for the superintendence, control and direction of the affairs of the company. He plays various roles in a company, like that of an agent, employee, officer, trustee etc.,. The various kinds of directors include whole-time, independent, additional, alternate, […]
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An auditor is an independent professional person qualified to perform an audit, responsible for evaluating the validity and reliability of a company’s financial statements. Appointment of Auditors as under Section 139 of Companies Act, 2013: The first Auditor of a company shall be appointed by Board within 30 days from registration of the company or […]
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Non-compliance of law results into offences by company or officer in default. Offences can be compoundable and non-compoundable. Compounding generally refers to “doing good the default/non-compliance.” It is a settlement for the offence committed by the company or an officer thereof and a short cut method to avoid litigation and to bring an end to […]
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FDI – Foreign Direct Investment ODI – Overseas Direct Investment Compounding of Offences ECB FEMA audit & Due Diligence
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Search Report refers to a report generally prepared by Professional CA/CS/CWA/Advocates, about a company after detailed inspection from the records of the Registrar of Companies. Banks are more and more emphasizing on Search Reports while opening of bank accounts or providing loans to such Companies. The purpose of Search Reports is also to keep the […]
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Due Diligence is an investigation or audit of potential investment to confirm all facts, such as reviewing all financial records, plus anything else deemed material. Such an audit is conducted before the bank loan funding, private equity, slump sale etc., In the Due Diligence audit, the financial, legal, business operation model, taxation aspects and compliance […]
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A company’s name is considered the identity of the company and it can be changed with the approval of the Board as well as shareholders through a special resolution. Necessary e-forms have to be prepared and submitted to ROC. Once ROC approves the proposed name, a new certificate of incorporation is issued and the change […]
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Every company has to maintain the statutory records and register mandatorily. The statutory register and records shall be kept at the registered office of the company. List of Statutory Registers to be maintained are: Register of Members Register of Directors and KMP Register of Loans/Guarantee/security & Investments Register of Charges and instrument of charges Register […]
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