Fwd: Cos. Act 2013-List of Relative effective 01.04.2014

[CS A Rengarajan]

Dear  all

For information  please

In  the  case  of  unlisted  public  companies  while constituting   csr committee ,  independent  directors  are  not  required.  yesterday  rules  notified  for  public  limited  companies,  if  it  is  unlisted  comes  within  the  limit,  then  whether  they  can  include  independent   director   in  their csr  committee

For  example 

Public  limited  having  net  profit  of  Rs.5  crore  or  more  and  turnover  of  Rs.350 crores

In  case  of  CSR  committee,  the  independent  directors  not  required  to  be  appointed  but  in  case  of  indpendent  directors  based  on  turnover,they  are  supposed  to  appoint.  In  that  case   whether  the  company  can  include independent  directors  in  their  csr  committee

regards

---------- Forwarded message ----------
From: CS Mamta Binani <mam...@mamtabinani.com>
Date: Sat, Mar 29, 2014 at 8:06 AM
Subject: Cos. Act 2013-List of Relative effective 01.04.2014
To:

Sec 2(77) of the Companies Act, 2013 read with Rule 4 of Companies (Specification of definitions details) Rules, 2014 defines RELATIVE.

The list is as follows:

1. Members of HUF
   
2. Husband & Wife
3. Father (Provided that the term “Father” includes step-father) 
4. Mother (Provided that the term “Mother” includes the step-mother)
5. Son (Provided that the term “Son” includes the step-son)
6. Son’s wife.
7. Daughter.
8. Daughter’s husband. 
   
9. Brother (Provided that the term “Brother” includes the step-brother) 
   
10. Sister (Provided that the term “Sister” includes the step-sister) 
    

My Comments

• The list has definitely been shortened as compared to what it was earlier
• In case of daughter, 'step daughter' has not been included  

In contrast to the Companies Act, 1956, the following persons will now be excluded

1. Step Daughter
   
2. Father's father.
3. Father's mother.
4. Mother's mother.
5. Mother's father.
6. Son's son.
7. Son's son's wife.
8. Son's daughter.
9. Son's daughter's husband.
10. Daughter's son.
11. Daughter's son's wife
12. Daughter's daughter.
13. Daughter's daughter's husband.
14. Brother's wife.
15. Sister's husband

My Comments

• Classic case to reflect the changing traditions in the Indian society over the past 6 decades  

Best Wishes

Mamta Binani

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CS A Rengarajan

9381011200

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[CS Ankit Misra]

I agree with your comment. Very true

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regards,

ANKIT MISRA

COMPANY SECRETARY

REGENCY HOSPITAL LTD.

KANPUR

8009968692

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[gbalajiacs]

Yes. All unlisted public companies which require to have independent directors on the board as per section 149 and the rules notified, necessarily need to have one independent director in CSR committee.

Notified CSR rules clearly states that.

Rgds
G Balaji
Learn to love; Love to learn.

CS Ankit Misra <ankit...@gmail.com> wrote:

I agree with your comment. Very true

On Sat, Mar 29, 2014 at 9:18 AM, CS A Rengarajan <csaren...@gmail.com> wrote:
Dear all

For information please

In the case of unlisted public companies while constituting csr committee , independent directors are not required. yesterday rules notified for public limited companies, if it is unlisted comes within the limit, then whether they can include independent director in their csr committee

For example

Public limited having net profit of Rs.5 crore or more and turnover of Rs.350 crores

In case of CSR committee, the independent directors not required to be appointed but in case of indpendent directors based on turnover,they are supposed to appoint. In that case whether the company can include independent directors in their csr committee

regards
---------- Forwarded message ----------
From: CS Mamta Binani <mam...@mamtabinani.com>
Date: Sat, Mar 29, 2014 at 8:06 AM
Subject: Cos. Act 2013-List of Relative effective 01.04.2014
To:

Sec 2(77) of the Companies Act, 2013 read with Rule 4 of Companies (Specification of definitions details) Rules, 2014 defines RELATIVE.

The list is as follows:
Members of HUF

Husband & WifeFather (Provided that the term “Father” includes step-father) Mother (Provided that the term “Mother” includes the step-mother) Son (Provided that the term “Son” includes the step-son)Son’s wife.Daughter.Daughter’s husband.

Brother (Provided that the term “Brother” includes the step-brother)
Sister (Provided that the term “Sister” includes the step-sister)

My Comments
The list has definitely been shortened as compared to what it was earlierIn case of daughter, 'step daughter' has not been included