HIGH LIGHTS-COMPANIES BILL-2008

shailesh agarwal (professional accountant) (7642 Points)

25 October 2008

HELLO

HIGHLIHTS-COMPANIES-BILL-2008

FOR A QUICK REVIEW FOR ALL STUDENTS

SHAILESH AGARWAL

SUMMARY OF ORIGANALY POSTED BY AISH-THANKS TO AISH

HIGH LIGHTS

COMPANIES BILL-2008

ü 1-Incorporation to liquidation in a single comprehensive,legal frame work

ü 2-Articulation of shareholders democracy

ü 3-Easy transition of companies under the companies act-1956

ü 4-A new entity in the form of one person company(opc)

ü 5-Stringent regime with charitable objectsto check misuse

ü 6-E-Governance-company processes may also be carried out through electronic mode

ü 7-Speedy incorporation-every company would be required a unique director identification number(DIN)

ü 8-Relaxation of restrictions limiting the number of partnersin banking….(100)

ü 9-every company to have at least one director resident in India.

ü 10-Statutory Reconition To CEO And CFO –As (Kmp) Key Managerial Personnel

ü 11-Consolidation of financial statements of subsidiaries with those of holding companies is proposed to be mandatory

ü 12-A single forum for approval of mergers and acquisitions

ü 13-Appointment of valuers is proposed to be made by audit committee

ü 14-Claim of an investor over a dividend for more than a 7 years not to be extinguished

ü 15“Clause Action suits”-shareholders association to be enabled to take legal action in case of any fraudulent action on the part of company .

ü 16-Regulation of insolvency(revised andtime bond

ü 17-Rehabilitation and insolency fund with voluntary contributions linked entitlements to draw money in a situation of insolvency

ü 18-A more effective regime for inspections and investigation-minimum quantam of penaltyfor each offence with suitable deference for repeated defaults

ü In case of fraudulent activities ,provisions for recovery and disgorgement have been included

ü 19-Defauts of procedural nature to be penalised by levy of monetary penalties

ü 20-Special court to deal with offences under the bill(nclt) national company law tribunal.

Shailesh agarwal-25.10.08

Summarized from the source ca cluan-posted by aisha -23.10.08

Reply
Follow
Share

HIGH LIGHTS-COMPANIES BILL-2008

2 Replies

Online classes for CA CS CMA. Professional courses for GST, Tally, Others & Books

Leave a reply

Recent Topics

Related Threads

Popular Discussion

Trending Online Classes

Subscribe to the latest topics :

Search Forum:

Originally posted by :shailesh agarwal
"	HELLO HIGHLIHTS-COMPANIES-BILL-2008 FOR A QUICK REVIEW FOR ALL STUDENTS SHAILESH AGARWAL SUMMARY OF ORIGANALY POSTED BY AISH-THANKS TO AISH HIGH LIGHTS COMPANIES BILL-2008 ü 1-Incorporation to liquidation in a single comprehensive,legal frame work ü 2-Articulation of shareholders democracy ü 3-Easy transition of companies under the companies act-1956 ü 4-A new entity in the form of one person company(opc) ü 5-Stringent regime with charitable objectsto check misuse ü 6-E-Governance-company processes may also be carried out through electronic mode ü 7-Speedy incorporation-every company would be required a unique director identification number(DIN) ü 8-Relaxation of restrictions limiting the number of partnersin banking….(100) ü 9-every company to have at least one director resident in India. ü 10-Statutory Reconition To CEO And CFO –As (Kmp) Key Managerial Personnel ü 11-Consolidation of financial statements of subsidiaries with those of holding companies is proposed to be mandatory ü 12-A single forum for approval of mergers and acquisitions ü 13-Appointment of valuers is proposed to be made by audit committee ü 14-Claim of an investor over a dividend for more than a 7 years not to be extinguished ü 15“Clause Action suits”-shareholders association to be enabled to take legal action in case of any fraudulent action on the part of company . ü 16-Regulation of insolvency(revised andtime bond ü 17-Rehabilitation and insolency fund with voluntary contributions linked entitlements to draw money in a situation of insolvency ü 18-A more effective regime for inspections and investigation-minimum quantam of penaltyfor each offence with suitable deference for repeated defaults ü In case of fraudulent activities ,provisions for recovery and disgorgement have been included ü 19-Defauts of procedural nature to be penalised by levy of monetary penalties ü 20-Special court to deal with offences under the bill(nclt) national company law tribunal. Shailesh agarwal-25.10.08 Summarized from the source ca cluan-posted by aisha -23.10.08	"