Corporate governance reforms enable listing and issuance of equity shares, aligning LIC with listing and disclosure requirements. The Bill overhauls the LIC Act to vest management in a Board of Directors with defined composition and committees, introduce director disqualifications, disclosure and related party rules, and create a statutory regime for issuance, transferability and recognition of equity shares-including shares to the Central Government and treatment of such shares for public offering-while instituting strengthened financial reporting, audit, dividend and surplus allocation rules to align LIC with listing and disclosure requirements.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Corporate governance reforms enable listing and issuance of equity shares, aligning LIC with listing and disclosure requirements.
The Bill overhauls the LIC Act to vest management in a Board of Directors with defined composition and committees, introduce director disqualifications, disclosure and related party rules, and create a statutory regime for issuance, transferability and recognition of equity shares-including shares to the Central Government and treatment of such shares for public offering-while instituting strengthened financial reporting, audit, dividend and surplus allocation rules to align LIC with listing and disclosure requirements.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
