- Some smart and conservative reforms were made in the new Indian Company Act of 2013 to the conditions relating to annual enforcement for fair and effective corporate governance and proper management of companies operating in various economic fields.
- Two of the key amendments incorporated in the annual reports of the companies concerned by the new Indian Companies Act 2013, effective from the financial year 2014-15, are as follows: the report of the Managing Directors will now include concerns such as the dates of the meetings of the Board of Directors held during the financial year the number of meetings of the Board of Directors attended, transparency.
- The following are currently included in the Standard Accounting Accounts—Summary balance sheet and profit/loss account; Cash Flow Review and Consolidated Operating Results (except for small companies and OPCs).
- Each meeting must be held once, strictly in accordance with the provisions of the 2013 Secretarial Procedures and Companies Act as of 1 July 2015.
- Annual implementation Forms and guidelinesAs set out in the regulations, requirements and guidelines of the current Indian Companies Act of 2013, the frameworks used for annual implementation by the different categories of businesses in the various economic sectors in India are as follows: methods to be used to achieve annual enforcement by One Person Companies (OPCs), Small Companies and Secretarial S
- Forms to be used for enforcement by Unlisted Public Limited Companies, in accordance with both the annual requirements and the annual (mandatory and selective) limits: MBP-1; DIR-8; DIR-12; MGT-7; AOC-4; MGT-8; ADT-1; DPT-3; MR-1; etc. Form for the annual compliance of the Listed Public Restricted Companies: MBP-1; DIR-8; MGT-14; MGT-15; MGT-14; CRA-2; ADT-1; it should be noted that as provided for in the rules and regulations of the 2013 Companies Act, all Classified Companies and Limited Public Companies falling within the aforementioned sections shall submit a Secretary Audit Report along with the Boa MR-3:- if the total money paid out is Rs 50 Crore or more; or if the income is Rs 250 Crore or more.
- To learn more about the annual conformity of the type of business involved, the formats and the appropriate enclosures/attachments used, please contact: 9246536701 or send inquiries promptly to our lawyers to ensure that they comply on behalf of all types of businesses to the different Indian market sectors.