https://www.taxtmi.com/article/detailed?id=6950 The Act introduces the One Person Company and a Resident Director requirement, limits director service and restricts loans, guarantees or securities to directors or their associates. Related-party transactions no longer need central government approval, but inter corporate lending and multilayer investments are constrained. Procedural reforms require prescribed timelines for share allotment, expanded annual return and register formats (permitting electronic storage), mandatory Secretarial Standards, strengthened audit and internal audit obligations, and criminal penalties for specified noncompliances. en-us Fri, 26 Aug 2016 15:55:37 +0530 Fri, 26 Aug 2016 15:55:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6950 The Act introduces the One Person Company and a Resident Director requirement, limits director service and restricts loans, guarantees or securities to directors or their associates. Related-party transactions no longer need central government approval, but inter corporate lending and multilayer investments are constrained. Procedural reforms require prescribed timelines for share allotment, expanded annual return and register formats (permitting electronic storage), mandatory Secretarial Standards, strengthened audit and internal audit obligations, and criminal penalties for specified noncompliances. Articles Corporate Laws / IBC / SEBI Fri, 26 Aug 2016 15:55:37 +0530 https://www.taxtmi.com/article/detailed?id=6950