Query regarding section 134 of companies act 2013

Section 134 (5)(f) of Companies Act, 2013, mandates that directors are required to state in the Directors’ Report that “the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. 

There is no need to pass a separate resolution for the same in first board meeting of FY 2014-15. As regards CMS, there is no specific format, as laws are innumerable and none has really got an idea as to how many laws would be applicable to a company.

I would suggest one can devise own format for your company to ensure compliance of applicable laws.

Ankurji,

Yes directors would like to ensure that proper system for  compliance of laws is in place.  Therre are some software available  in the market for legal  compliance.  Bigger companies which  can afford cost can go for that:

https://www.google.co.in/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=legal%20compliance%20software%20india

Smaller companies can have the system of placing before Board legal compliance certificate as a part of regular  agenda for Board meetings duly signed by CS or some other official.

Thanks

Thanks for valuable comments dear Members.

Ankur