TaxTMI 
TaxTMI 
Strengthening of Corporate Governance in Companies in India
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....trengthening of Corporate Governance in Companies in India <br>News and Press Release<br>Dated:- 24-7-2015<br><BR>The Companies Act, 2013 which replaces the Companies Act, 1956 incorporates various pr....
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....ovisions aimed at strengthening of corporate governance in companies in India. These provisions include, inter-alia, enhanced responsibilities for the Board and its committees like the Audit Committee....
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.... and Nomination and Remuneration Committee, enhanced disclosures to stakeholders, appointment of Independent Directors, stricter norms for ensuring independence and accountability of auditors and grea....
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....ter level of investor protection. The Indian Accounting Standards (Ind AS) have also been notified in February 2015, and are expected to contribute to improved corporate governance. The number of ac....
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....tivities under Corporate Social Responsibility has also been expanded. Further, Companies Act, 2013 has been amended to do away with mandatory requirement of minimum paid up capital for companies, com....
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....mon seal for companies and the requirement of filing declaration of commencement of business with a view to facilitate doing business using company as a vehicle. Incorporation process for a company ha....
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....s been simplified through the introduction of an integrated e-form INC-29, amongst other steps. This information was given by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a q....
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....uestion in the Lok Sabha today.<BR> News - Press release - PIB....