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Easy way to Appoint of Auditor under companies Act 2013

Section 139 – Auditors Appointment Applicability To all types of Companies Manner and Procedure of selection of auditors Rule 3 Individuals and firm’s qualifications shall be considered by BOD and Audit committee.  When considering the appointment, Board/ Audit Committee shall take importance on these points : Any order of professional misconduct is not passed against […]

Basic knowledge about FLA ??????

FLA Full Form:    Form for Annual Return on Foreign Liabilities and Assets  Applicability: Every entity having Financial Assets and Liabilities as on 31st March in their financial statements. Following entities are covered in it:1. A Company within the meaning of section 1(4) of the Companies Act, 20132. A Limited Liability Partnership (LLP) registered under the Limited Liability Partnership Act, […]

Quick summary on Independent directors

Who is Independent Director?? Non Executive Director of the company Not get involved in routine activities of the company Must have immaterial relationship with the company Applicability of Independent Director u/s  149  of Companies  Act  2013 On listed  companies – one third of Directors  On other Public company – As per Rule 4 of Companies  […]

Related party Transactions Approval under SEBI and Companies Act 2013 ???

Related party Transactions Points to be considered: Related Party Meaning Under Companies Act, 2013 in Section 2(76) (i)a director or his relative; (ii) a KMP or his relative; (iii) a director other than an ID, or KMP of the holding company or his relative; iv) a firm, in which a director, manager or his relative […]