The Ministry of Corporate Affairs/the Central Government, vide its notification dated October 22, 2019, has amended the Companies (Appointment and Qualification of Directors) Rules, 2014. Know all the requirements that one needs to fulfill as an independent director.
At the time of the 2008 financial crisis, a single identification code unique to each financial institution was unavailable worldwide. It means that each country had different code systems to recognize the counterpart corporation of financial transactions and calculate the total risk amount.
Dematerialization (Commonly known as 'Demat') signifies the conversion of a share certificate from its present physical form to electronic form for the same number of holding. Know all about dematerialization and its benefits.
In many Indian corporate frauds, it is found that independent directors either were just mute spectators or failed to detect an early signs of fraud. In some companies, it was found that watchmen, drivers, maids and other assorted individuals lent their name, identity and consent to become an independent director without aware of their roles and responsibilities.
It is mandatory for every Company Secretary to be it in practice or in employment to achieve mandatory Programme Credit Hours (PCH) as per the guidelines issued by the Institute of Company Secretaries of India (ICSI).