Fwd: LSI Analysis : 50 Key Takeaways from Report of the Companies Law Committee

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CS Thirupal Gorige

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Feb 3, 2016, 9:27:49 AM2/3/16

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Dear Friends,

I am happy to forward very handy 50takeaways on report of proposed amendments to Companies Act 2013 prepared by our friend CS Gaurav Pingle.

Thanks & Regards,

CS. Thirupal Gorige

Practising Company Secretary

No. 87, 2nd Floor,21st Cross,
7th Main, N S. Palya, BTM 2nd Stage,
Bangalore-560076, India
Cell +91 94483 84064
LL +91 80 6532 2360

---------- Forwarded message ----------
From: LawStreetIndia.com <l...@lawstreetindia.com>
Date: Wed, Feb 3, 2016 at 4:28 PM
Subject: LSI Analysis : 50 Key Takeaways from Report of the Companies Law Committee
To:

Dear Patrons,

On June 4, 2015, Govt. had constituted 8 members Company Law Committee for giving recommendations on issues pertaining to implementation of Companies Act, 2013. On February 1, 2016, the Committee submitted 138-pages detailed Report and suggested 100+ amendments to the Act.

The Report suggests amendment to definition relating to ‘holding company’, ‘subsidiary company’, ‘associate company’, ‘financial year’, ‘related party’ and recommends inclusion of definition for ‘nominee director’. Committee also proposes to ease capital raising requirements, to allow private limited co. and wholly owned subsidiaries of unlisted cos. to convene Annual General Meetings at any place in India. Committee recommends introduction of ‘test of materiality’, for determining whether pecuniary relationships could impact the independence of an individual for becoming an independent director. With respect to CSR provisions, Committee proposes to do away with mandatory requirement of having independent directors in the CSR Committee.

MCA has invited comments from all stakeholders on the Report by February 15, 2016.

Click here to read 50 key takeaways from Companies Law Committee Report.

Best Regards

LSI Team

Hello,

Please find attached - 50 Key Takeaways from Report of the Companies Law Committee.

With Best Regards,

CS Gaurav. N. Pingle.
+91 9975565713.

www.csgauravpingle.com is a repository of articles (authored by me) that have been published in various professional journals, business journals, newsletters / magazines of ICSI, Souvenirs for various regional & national level conclaves / conferences.