Introduction In the dynamic and ever-evolving world of business, contracts serve as the foundation for transactions and agreements between parties. These legally binding documents outline the rights, responsibilities, and obligations of all involved entities. However, with the complexity of modern business dealings, ensuring contract compliance has become crucial to maintaining the integrity of transactions and upholding legal requirements. In this ...
As the whole corporate world globally is moving towards digitization and ensuring that they make the best use of data, take faster decisions and smart storage of documents, the pace is slow with Compliance, Legal and Secretarial functions in India. We conducted a survey speaking to Chief Compliance Officers, General Counsels and Company Secretaries of leading corporates and it was ...
The recent disqualification of 3 lakhs directors, deletion of 2 lakh companies by Ministry of Corporate Affairs and compulsory delisting of 200 companies by Bombay Stock Exchange rattled corporate India forcing all Board Members, Senior Management and Auditors to re-check the compliance status of their companies. It clearly comes out that the non-compliance forcing regulator can take such a strong ...
At least two lac directors on the board of companies, whose names have been struck off by the Registrar of Companies (RoC), will be barred from holding any board position in new ventures although they will not have to step down from the board of other companies on which they are currently directors. So far, names of 2.1 lac companies ...
For every corporate, secretarial work forms a major part of the compliance administration. Secretarial work includes drafting of maintaining agenda, statutory registers, minutes, resolutions, filing of forms, etc. The traditional Company Secretaries are used to preparing the aforesaid documents manually every time thereby leading to time-consuming and cumbersome process, which may have unnoticed errors and mistakes. Transforming the entire process ...
Cost of compliance is far cheaper than cost of non-compliance. You could loose your identity if you don’t comply with law of land. In India, every business needs to comply with many regulations including : 1. Income tax compliance 2. GST Compliance 3. Shop & Establishment Act Compliance 4. Provident Fund Compliance 5. Professional Tax Compliance 6. Factories Act ...
Since 1991, India follows the policy of LPG- Liberalisation, Privatisation and Globalisation. These are three important reasons for the evolution of the Legal regime in the task of regulating businesses. India had to do so for various reasons, namely:- Now that the entry and exit barriers were removed for most of the businesses, a need was felt for some ...
Company Secretary Software Traditionally, Company Secretary used to prepare all ROC forms, resolutions, drafting, etc. ‘manually’ every time for every other company. This cost them a lot of time and efforts, despite which there could be many unnoticed errors and mistakes. Since for every corporate, secretarial work forms a major part of the compliance administration, there arises a need for ...
Best TDS Software Best TDS Software Tax is a mandatory payment made to the Government for the welfare of the State and various other expenses. It is levied on worker’s income, business profits and on goods and services. Since it is a mandatory charge, individuals and businesses should be wary of it. They should make sure to pay their taxes in ...
VC Funding VC Funding On February 17, 2016 The Government finally gave a definition to the word, ‘Start-up’. According to its notification, a start-up company will be recognized: Till up to five years from the date of incorporation. If its turnover does not exceed 25 crores in the last five financial years. It is working towards innovation, development, deployment, and commercialization ...
Auditor Appointment Auditor Appointment An auditor can be an individual or a firm that has been appointed by the company to execute an audit. in auditor appointment, audit is a systematic analysis of books, accounts, statutory records, documents and vouchers of an organization to know how fair and true the financial statements of an organisation are.A person needs to be ...
Funding Compliances Funding Compliance a buzz word these days and it gives lot of confidence to founders to execute their dream, vision quite fast. At times start-ups do not get funding at right time and sometime they take advantage of borrowing from friends and family, taking loan from banks and NBFCs and mezzanine funding from angel funds, VCs etc. In ...
Asset Reconstruction Companies Of India In December, 2002 when Parliament of India enacted Securitisation Act 2002 (THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT), 2002), it paved the way for asset reconstruction business India. Prior to enactment of the Securitisation Act, 2002, banks and financial institutions had no option but to enforce their security interests ...
Cons Of Non Compliance And Of Doing Your Books Of Accounts At One Go After quite a hectic day with 12 interviews, 3 calls with service providers, 20 customer calls and routine fire with execution team, our co-founder on his way back home at 10.30 PM receives a call from Srini, founder of six months old start-up) frantically asking for ...
Registrar of Companies In India, regulatory authorities are constituted by law for implementation and administration of law. One of the regulatory authorities in India is Registrar of Companies (ROC) for regulating all companies and Limited Liability Partnerships (LLP) in India. Registrar of Companies is empowered to regulate all the companies and its subsidiaries set up in India as well as ...