Related party transactions section 188 companies act. That in the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any. Fixed deposits during the year ended on 30 june 2011, the company has not accepted any deposit within the meaning of section 58a of the companies act, 1956, read together with the companies acceptance. The existing requirement in section 217 2aa requiring a.
It is covered earlier by cg report under clause no. Vxl instruments limited 2 board of direct ors arun kumar bhuwania chairman d. Section 372a of the companies act, 1956 the act deals with intercorporate loan, investment, guarantee and securities in connection with loan. Pursuant to section 217 2aa of companies act 1956, the directors state. Annual report 2012 3 information regarding employees as required by the provisions of section 217 2a of the companies act, 1956 read with companies particulars of employees rules, 1975 as amended, there is no such employee of the company, covered under these rules and required to be disclosed here. Mar 31, 2011 the effect of the notification shall require the companies including government companies to include a statement showing the name of every specified employee of the company in their board report pursuant to section 217 2a of the companies act 1956 read with companies particulars of employees amendment rules, 2011 which provides.
Pursuant to the requirement under section 217 2aa of the companies act 1956, with respect to directors responsibility statement, it is hereby confirmed that. Pursuant to the requirement of section 217 2aa of the companies act, 1956 with respect to directors responsibility statement, it is hereby confirmed. Section 188 of the companies act, 20 has been inserted in place of section 297 of the companies act, 1956. Amendment to section 2172a of companies act, 1956, under amendment rules 2011. In accordance with the section 217 2aa of the companies act, 1956, the board of directors affirm. Directors responsibility statement, it is hereby confirmed. In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to.
Board of directors bankers auditors registered office. As required under section 217 2aa of the companies act, 1956 regarding directors responsibility statement, the directors confirm that. In terms of section 217 2aa of the companies act, 1956, your directors confirm as under. Pursuant to sec 217 2aa of the companies act, 1956 the directors placed on record the following statements.
Employees rules, 1975, as amended, regarding employees is given in. Section 217 the companies act,1956 laws and bare acts. We have selected such accounting policies and applied them consistently and made judgments. Section 217 1e of the companies act, 1956, read with the companies disclosure of particulars in the report of the board of directors rules, 1988, is nil. In terms of section 217 2aa of the companies act, 1956, the directors would like to. Directors responsibility statement as required under section 217 2aa of the companies act, 1956. As required under section 217 1 e of the companies act, 1956 read with companies disclosure of particulars in the report of the board of directors rules, 1988, the particulars relating to conservation of energy, technology absorption and foreign exchange earnings and outgo, wherever applicable, are given in annexure a to this report. Remuneration has the meaning assigned to it in the explanation to section 198. On the basis of test checks, carried out and as confirmed by mr anil kapoor, president, in our opinion, the management has on behalf of the board taken due care to comply with the provisions of sec. Nov 21, 2012 21 november 2012 hi statement showing particulars of employee section 2172a section 2172a of the companies act, 1956 provides that the directors report shall contain information in a statement about employees who are in receipt of remuneration of such sum as may be prescribed, per annum if employed in the whole of the last year or per month if employed for part of the year. Section 217 of companies act, 20 procedure, powers. In terms of section 217 2aa of the companies act, 1956, your directors confirm. Companies act 1956 section 227 citation 11158 bare act. Pursuant to the requirement under section 217 2aa of the companies act, 1956 with respect to directors responsibility statement, it is hereby confirmed.
The information to be disclosed as per provision of sec. Companies act, 1956 and seeks to provide that the financial statement including. Section 2172a in the companies act, 1956 indian kanoon. In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures. Directors responsibility statement as required under section 217 2aa of the companies act, 1956, the directors hereby confirm that. In preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures. The committee noted that the companies act was amended by inserting section 217 2aa by the companies amendment act, 2000, which has brought about inclusion of directors responsibility statement in the report of the board of directors. Section 372a of the companies act legal service india. In previous law, it was mandatory to take central government approval for any transactions which was covered under section 297 of the companies act, 1956 where the paid up capital of the company was more than rs. The company has not entered into any technology transfer agreement. Directors responsibility statement in terms of the provisions of section 217 2aa of the companies act, 1956, and to the.
Information as per section 217 2aa of the companies act, 1956directors responsibility statementpursuant to the requirement of. Old sections for new sections you can use this tool to find out which section of the companies act 1956 corresponds to the section under the new companies act 20 and vice versa, for better understanding of the new law. Mar 16, 2015 using an executive fiat through an administrative order issued under sec. Section 217 of companies act, 20 procedure, powers, etc. Directors responsibility statement in terms of the provisions of section 217 2aa of the companies act, 1956, and save as. There shall be attached to every balance sheet laid before a company in general meeting, a report by its board of directors, with respect tothe state of the company s affairs. Information pursuant to section 2172a of the companies. The provisions of section 217 1e of the companies act, 1956, relating to conservation of energy and technology absorption do not apply to your company. In terms of section 217 2aa of the companies act, 1956 your directors have. While this certification will certainly provide comfort to the nonexecutive directors and will indeed act as the basis for the board to make directors responsibility statement in terms of section 217 2aa of the companies act, 1956, it is not clear why sebi did not require the listed companies to include such certification in the annual report.
Companies act 1956 section 581b citation 11595 bare act. In the matter of section 2172a and 2173 of the companies act, 1956. Matters to be stated and reports to be set out in prospectus 57. Secretary, certifying that the company has complied with all the provisions of the companies act, 1956 and other laws applicable to the company during the financial year is annexed herewith. Section 210a constitution of national advisory committee on.
May 28, 2015 section 4 of ca 20 read with rule 8 mandates a number of disclosures such as directors accountability statement, technology absorption etc but it does not specifically contains an equivalent of 2712a of 1956 act. India the companies act 1956 sec 25 power to dispense with limited in name of charitable or other company. Section 217 2a in the companies act, 1956 2a 3 a the board s report shall also include a statement showing the name of every employee of the company who i if employed throughout the financial year, was in receipt of remuneration for that year which, in the aggregate, was not less than 4 such sum as may be prescribed. Powers of securities and exchange board of india 56. According to sec 3 of the act, on incorporation a company becomes a body. Information pursuant to section 217 2a of the companies act, 1956 read with the companies particulars of employees rules, 1975 and forming part of the directors report for the year ended 31st march, 20. Jan 20, 2011 dear sir, i stay in a complex in kolkatta our complex has 615 flats at present the complex is run by section 25 company which is under promoter and we are the share holder residents however we want to get registerd as per west bengal flat owners association act 1998 what is the procedure to be followed we want o take over the maintainece from promoter what is the legal hindrence we will.
Sundaram auto components limited tvs motor company yumpu. Rachna bhasin as the company secretary of the company. Pursuant to the requirement under section 2172aa of the companies act, 1956 with respect to. That for the compilation of the annual accounts for the financial year ended 31. Section 25 companies under companies act 1956 legal news.
Mani square limited, a company incorporated under the. Sec 217 2aa of the companies act casts a responsibility on the board of directors to comply with mandatory accounting standards the directors report should include a responsibility statement indicating therein that the applicable accounting standards have been followed 2. Application for winding up of company or an order under section 397 or 398. The companies act, 20 provisions relating to directors. Section 217 2aa of the companies act, 1956 as amended in december 2000 requires the board of directors to provide a statement to the members of the company in connection with maintenance of books, records, preparation of annual accounts in conformity with.
That in the preparation of the annual accounts the applicable accounting standards had been followed along with proper explanation relating to material departures. Act, 1956 are not applicable to the company as there is no employee. Pursuant to the requirement under section 217 2aa of the companies act 1956, with respect to directors responsibility statement, it is hereby confirmed. There is no employee, particulars of whom are to be furnished under sec. In terms of the provisions of section 383a of the companies act, 1956, the company has appointed ms. Section 217 2a of the companies act, 1956, read with the companies particulars of. Legislative background the notes on clauses to the companies bill, 2011 read as follows. Personnel information in accordance with the provisions of sec 2172a of the companies act, 1956 read with companies particulars of employees rules, 1975 as amended are set out in the annexure. The provisions of section 2171e of the companies act, 1956, relating to conservation of energy and technology absorption do not apply to your company. In preparation of annual accounts, the applicable accounting standards have been followed. Clause 49 of the listing agreement legal service india. Section 2171e of the companies act, 1956, read with the companies disclosure of particulars in the report of the board of directors rules, 1988, is nil.
The company had no employees covered under section 2172a of the companies act, 1956 read with companies particulars of employees rules, 1975, as amended. Old sections for new sections you can use this tool to find out which section of the companies act 1956 corresponds to the section under the new companies act 20 and. The annual accounts are prepared as per schedule vi of the companies act, 1956 and the applicable standards are followed, so as to give a true and fair view of state of affairs of the company as at the end of the financial year 31 march. Act, 1961, or any other tax on the income of the company not falling under clauses d and e of subsection 4. Companies act, 1956 bare acts law library advocatekhoj. The observation of auditors and notes on accounts is self explanatory. Yes, details of md other employee required to be discloseed under section 217 2a of the companies act, 1956 read with companies particulars of employees rules, 1975 who drawing remuneration in excess of rs. In accordance with sec 217 2aa of the companies act, 1956, the directors of the company hereby state that. Pursuant to the requirement under section 217 2aa of the companies act, 1956 with respect to directors. All the four transactions are frequently taken place in any company and henceforth the section becomes more important and therefore it requires to special heed by virtue of strict penal provisions and.