Revenue Secretary Hasmukh Adhia on April 29th brought into public domain something that is well known to the corporate professionals, 8-9 lakhs of the 15 lakh registered companies in India do not file their annual return with the Ministry of Company Affairs. A brief review and enquiry for this wide-spread non-compliance reveals three specific [...]
The recent debate generated by the compensation recommended to the Chief Operating Officer in Infosys has brought into focus the need for defining the contours of a well-crafted Remuneration Philosophy. While opinions can vary, what needs to be assessed is the consistency with which the articulated remuneration philosophy is practiced. This need is recognized [...]
As we completed our analysis for the Secretarial Audit Reports: Trends and Practices in 2016, we found a few data points of interest that attracted our attention. As in the previous year our population for this study was S&P BSE 500 Companies, which represents the cream of Indian Corporate Sector. It is possible that [...]
4R’s form the basis for enforcement of any law; Companies Act, 2013, is no exception. Registration, the first R give the registrant a right which is denied to others. Company law too requires registration for giving registrants the benefit of limited liability by giving them a certificate of incorporation along with a unique Company [...]
A critical test of good corporate governance for a company is how it deals with Related Party Transactions (RPTs). While the Companies Act, 2013 has laid down what should be done, it is the job of the Company Secretary to ensure that it gets done. Conceptually the Companies Act, 2013 identifies four basic aspects [...]
The book identifies proliferation of technology, population growth, globalisation and financialisation as the four pillars of the unprecedented and spectacular growth in living standards in the last 200 years, writes Shankar Jaganathan First Things First: The Age of Stagnation: Why Perpetual Growth is Unattainable and the Global Economy is in Peril by Satyajit Das [...]
Company law and Bankruptcy law share a common trait, i.e. limited liability. While all entities incorporated under the Companies Act get limited liability, it is provided to other entities like individuals and partnerships only on meeting certain conditions. Further, it is a strong prevailing belief that where effective corporate and bankruptcy laws prevail economic [...]
India lags behind in the Ease of Doing Business rankings is not only very visible but painful given the fact that the efforts taken to rectify this situation is very sincere and commendable. Given this, a right question to ask is what could change the equation and make India climb the rankings rapidly. The [...]
An ideal gift is one that does not cost the donor even though it benefits the receiver. The next best is the gift that which costs the donor a fraction of the benefit the receiver gets. Will the Union Budget 2016 have the heart and pocket to accommodate both the gifts for the start-up? [...]
[box] INDIA SECRETARIAL PRACTICE 2015-#1 Triggers for the Study[/box] Our Ease of Business warriors face no less a challenge than what young Abhimanyu faced in the Mahabharata. Confronted with Chakravyuha, Abhimanyu entered the formation but could not exit. The situation is no different today. To use a different mythology, easing the way for business [...]
